Mutual Termination; Automatic Termination Sample Clauses
The "Mutual Termination; Automatic Termination" clause defines the conditions under which an agreement can end either by mutual consent of all parties or automatically upon the occurrence of specified events. In practice, this means that the parties may agree in writing to terminate the contract at any time, or the contract may automatically terminate if certain triggers occur, such as the expiration of a set term or a material breach. This clause provides flexibility for both parties to end their obligations when circumstances change or when continuing the agreement is no longer feasible, thereby reducing uncertainty and potential disputes over how and when the contract can be concluded.
Mutual Termination; Automatic Termination. This Agreement and the obligations of all Parties hereunder may be terminated by mutual written agreement by and among (a) each of the Debtors and (b) each of the Restructuring Support Parties. This Agreement shall terminate automatically upon the occurrence of the Effective Date.
Mutual Termination; Automatic Termination. This Agreement, and the obligations of all Parties hereunder, may be terminated by mutual agreement by and among VNR, on behalf of itself and each other Debtor, the Required Consenting Senior Note Holders and the Required Consenting RBL Lenders. Notwithstanding anything in this Agreement to the contrary, this Agreement and the obligations of all Parties hereunder shall terminate automatically on the Effective Date.
Mutual Termination; Automatic Termination. This Amended Agreement and the obligations of all Parties hereunder may be terminated by mutual written agreement by and among Ascent, Monitronics, the Requisite Consenting Noteholders, and the Requisite Consenting Term B-2 Lenders. Notwithstanding anything in this Amended Agreement to the contrary, this Amended Agreement shall terminate automatically (i) only as to the Consenting Term B-2 Lenders, if Monitronics fails to obtain the requisite consents to the Bank Amendments on or prior to the Toggle Trigger Time (as such Toggle Trigger Time may be amended in accordance with the terms of this Amended Agreement), and (ii) as to all Parties, upon the occurrence of any of the following events:
(a) any of Ascent, Monitronics or any of their respective subsidiaries (i) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of such entity or any substantial part of the property of such entity, (ii) seeks any arrangement, adjustment, protection, or relief of its debts other than as contemplated by this Amended Agreement, or (iii) makes a general assignment for the benefit of its creditors;
(b) any of Ascent, Monitronics or any of their respective subsidiaries commences a voluntary case filed under title 11 of the United States Code, 11 U.S.C. §§ 101, et seq. (as amended, the “Bankruptcy Code”);
(c) the commencement of an involuntary case against any of Ascent, Monitronics or any of their respective subsidiaries under the Bankruptcy Code that is not dismissed within thirty (30) days of such filing; or
(d) the occurrence of the consummation of the Transactions.
Mutual Termination; Automatic Termination. (a) This Agreement may be terminated by mutual written agreement of Wolfspeed and the Requisite Commitment Parties.
(b) With respect to the Automatic Termination Parties, to the extent that the taking of any action by any Person, whether or not a Party, or the occurrence of any event (including the passage of time), would, assuming such action is taken or such event occurred, result in the Commitment Parties and their Attribution Parties, collectively, beneficially owning, or being deemed to beneficially own, an aggregate amount of 5% or more of the outstanding common equity of the Company, this Agreement shall be automatically, and without the need for any further action by, notice to knowledge of any Party, terminated with respect to the Automatic Termination Parties as of immediately prior to such action or event, and, subject to Section 6.4 hereof, the Automatic Termination Parties shall have no further obligations or commitments under this Agreement effective as of such time.
Mutual Termination; Automatic Termination. This Agreement and the obligations of all Parties hereunder may be terminated by mutual written agreement by and among Ascent, Monitronics and the Requisite Consenting Noteholders. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate automatically upon the occurrence of any of the following events:
(a) any of Ascent, Monitronics or any of their respective subsidiaries (i) consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian, trustee or sequestrator (or similar official) of such entity or any substantial part of the property of such entity, (ii) seeks any arrangement, adjustment, protection, or relief of its debts other than as contemplated by this Agreement, or (iii) makes a general assignment for the benefit of its creditors;
(b) any of Ascent, Monitronics or any of their respective subsidiaries commences a voluntary case filed under title 11 of the United States Code, 11 U.S.C. §§ 101, et seq. (as amended, the “Bankruptcy Code”);
(c) the commencement of an involuntary case against any of Ascent, Monitronics or any of their respective subsidiaries under the Bankruptcy Code that is not dismissed within thirty (30) days of such filing; or
(d) the occurrence of the consummation of the Transactions.
Mutual Termination; Automatic Termination. This Agreement may be terminated by mutual written agreement of the Company and the Requisite Noteholders upon the receipt and acknowledged acceptance (whether oral or by electronic mail) of written notice delivered in accordance with Section 20. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate automatically without any further required action or notice on the Effective Date.
Mutual Termination; Automatic Termination. (a) This Agreement may be terminated immediately by the mutual written consent of the Parent and the Requisite Backstop Parties.
(b) This Agreement shall terminate upon a termination of the RSA pursuant to the terms thereof.
Mutual Termination; Automatic Termination. This Agreement and the obligations of all Parties hereunder may be terminated by mutual written agreement among each Debtor and the Requisite Majority Consenting Noteholders. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate automatically (i) upon the occurrence of the Effective Date or (ii) on the date twelve (12) months after the Petition Date (the “Outside Date”).
Mutual Termination; Automatic Termination. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate automatically and all of the obligations of the Parties hereunder shall be of no further force or effect in the event that: (i) the Restructuring Transactions are consummated in accordance with this Agreement and the Term Sheet; (ii) the Restructuring Transactions are not consummated in accordance with this Agreement and the Term Sheet by the one-hundredth (100th) calendar day after the Petition Date, as such date may be extended in writing from time to time by the mutual agreement of the Stone Parties and the Required Consenting Noteholders; or (iii) the Stone Parties and the Required Consenting Noteholders mutually agree to such termination in writing.
Mutual Termination; Automatic Termination. This Agreement and the obligations of all Parties hereunder may be terminated by mutual written agreement by and among Penn Virginia, on behalf of itself and each other PVA Entity, and all of the Restructuring Support Parties. Notwithstanding anything in this Agreement to the contrary, this Agreement shall terminate automatically upon the occurrence of the Effective Date.