Extinguishment of Obligation Sample Clauses

Extinguishment of Obligation. If Habitat is unable to obtain a buyer and developer by June 30, 2021 to construct or install 80 or more ADUs within the Project, the obligation of this Section 5(B) is extinguished.
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Extinguishment of Obligation. By execution below, Employee acknowledges that this option satisfies and extinguishes, in full, the Company's obligations to Employee set forth in paragraph D of Appendix A to that certain Contract Buyout and Separation Agreement by and among Employee, the Company and Hibernia National Bank dated as of January __, 2001. Employee further acknowledges that this option constitutes sufficient consideration for the restrictive covenants and proscriptions set forth therein. HIBERNIA CORPORATION By:_________________ Its:________________ ACKNOWLEDGMENT AND AGREEMENT I acknowledge that the option to acquire shares of Common Stock granted to me hereunder shall be subject to the terms and conditions of this Agreement. By execution of this Agreement, I further acknowledge that no member of the Board or any committee of the Board shall be liable for any action or determination taken in good faith with respect to the option grant hereunder or the interpretation of terms and conditions of this Agreement. _____________________________ Sxxxxxx X. Xxxxxx Dated as of January __, 2001 Exhibit A EXERCISE OF OPTION Secretary Hibernia Corporation 300 Xxxxxxxxxx Xxxxxx Xxx Xxxxxxx, Xxxxxxxxx 00000 The undersigned Optionee under the 2001 Nonqualified Stock Option Agreement dated January __, 2001 between Hibernia Corporation and Sxxxxxx X. Xxxxxx (the "Agreement"), hereby irrevocably elects to exercise the Stock Option granted in the Agreement to purchase _____________ shares of Class A Voting Common stock of Hibernia Corporation, no par value ("Shares"), and herewith makes payment of $_____________ in the form of _______________ [cash, Shares, cash plus Shares (indicate amount of each)]. Dated:__________________ _______________________________ (Signature of Optionee) Date Received by Hibernia Corporation: ______________________ Received by: ________________________________________________ [Note: Shares being delivered in payment of all or any part of the exercise price must be represented by certificates registered in the name of the Optionee and duly endorsed by the Optionee and by each and every other co-owner in whose name the Shares may also be registered.] Name*(PleasePrint):___________________________________________ Home Address:_________________________________________________ ______________________________________________________________ SocialSecurity No.:___________________________________________ *As stock should be registered CONTRACT BUYOUT AND SEPARATION AGREEMENT A...
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Related to Extinguishment of Obligation

  • Payment of Obligations Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves in conformity with GAAP with respect thereto have been provided on the books of the Borrower or its Subsidiaries, as the case may be.

  • Payment of Obligation 41 10.2 Covenants......................................................................... 41

  • Repayment of Obligations Notwithstanding anything to the contrary contained herein, the Borrower shall repay the Advances Outstanding, all accrued and unpaid Yield, any Breakage Fees, Increased Costs, all accrued and unpaid costs and expenses of the Administrative Agent and Lenders and all other Obligations (other than unmatured contingent indemnification obligations) in full on the Facility Maturity Date.

  • Termination of Obligations Termination of this Agreement pursuant to Section 10.1 hereof shall terminate all obligations of the parties hereunder, except for the obligations under Article IX, Article X, and Sections 11.4, 11.7, 11.14, 11.15 and 11.16 hereof; provided, however, that termination pursuant to paragraphs (b) or (c) of Section 10.1 shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.

  • Fulfillment of Obligations Any obligation of any party to any other party under this Agreement, which obligation is performed, satisfied or fulfilled by an Affiliate of such party, shall be deemed to have been performed, satisfied or fulfilled by such party.

  • Nonpayment of Obligations Any amount due and owing on the Revolving Note or any of the Obligations, whether by its terms or as otherwise provided herein, is not paid on the date such amount is due.

  • Satisfaction of Obligations The Borrower shall pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its obligations of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and reserves with respect thereto have been provided on the books of the Borrower.

  • Reinstatement of Obligations Guarantor agrees that this Guaranty shall continue to be effective or be reinstated, as the case may be, with respect to any Obligations if at any time payment of any such Obligations is rescinded or otherwise must be restored by the Agent and/or the Lenders upon the bankruptcy or reorganization of the Borrower or any Guarantor or otherwise.

  • Release of Obligations If the Delivery Date has not occurred on or prior to the Cut-Off Date (including by reason of the Aircraft not being completed and delivered, the Owner Participant's failure to make the full amount of its Commitment available in accordance with the terms of Section 3.02 hereof and no transferee Owner Participant having been identified pursuant to Section 3.05(a) hereof), then, in such event, the Owner Trustee shall not purchase the Aircraft from AVSA, and subject to the last sentence of Section 3.05(a) hereof the parties to the Operative Agreements shall have no further obligations or liabilities under any of said Operative Agreements with respect to the Aircraft, including the obligation of the Owner Participant to participate in the payment of the Purchase Price, and such documents shall terminate and have no further force or effect with respect to the Aircraft; provided, however, that if the last sentence of Section 3.05(a) hereof does not apply the Lessee shall provide, no later than the Cut-Off Date, notice of prepayment to the Indenture Trustee and the Certificates shall be prepaid on the 15th day following the Cut-Off Date as provided in Section 6.02(a)(vi) of the Original Indenture and Section 17.02(c) hereof and provided further, that (i) the Lessee's obligation to pay any Transaction Costs as provided in Section 3.04 hereof (to the extent such section is applicable) and to indemnify such parties to the extent provided in such documents, shall not be diminished or modified in any respect and (ii) the obligations of the Owner Trustee, the Indenture Trustee and the Lessee to return funds and pay interest, costs, expenses and other amounts thereon or in respect thereof as provided in Section 3.02 hereof shall continue.

  • Acceleration of Obligations Declare all Obligations, whether evidenced by this Agreement, by any of the other Loan Documents, or otherwise, including (i) any accrued and unpaid interest, (ii) the amounts which would have otherwise come due under Section 2.3(b)(ii) if the Loans had been voluntarily prepaid, (iii) the unpaid principal balance of the Loans and (iv) all other sums, if any, that shall have become due and payable hereunder, immediately due and payable (provided that upon the occurrence of an Event of Default described in Section 8.12 or 8.13 all Obligations shall become immediately due and payable without any action by Lender);

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