Obligations Related to Termination. (a) If the Agreement is terminated because of a material breach on the part of the Company or because of the liquidation of a Portfolio, the Trust may redeem the Portfolio shares held by the Variable Separate Accounts on the effective date of termination of this Agreement.
Obligations Related to Termination. 24.1 In case of termination of the Contract, regardless of the reason, the Operator shall be obliged to provide to the DEA all information, data, reporting, documents, etc. required to be provided by the Operator under the Contract at the time of termination.
Obligations Related to Termination. Within thirty (30) days of the termination date, the Recipient will furnish the required reports (as described in Sec. VII, B), including a Final Progress Report, and a detailed system-generated report of incurred expenditures from inception-to-date in a budget-to-actual format prior to the termination date. Upon termination, any final payment shall be based upon allowable costs incurred up through the date of termination including any non-cancelable obligations made in good faith in accordance with the approved Budget in Attachment A.
Obligations Related to Termination. (a) If the Agreement is terminated because of a material breach on the part of the Company or because of the liquidation of a Portfolio, the Trust may redeem the Portfolio shares held by the Separate Accounts on the effective date of termination of this Agreement. (b) In the case of a liquidation of a Portfolio by the Trust, the Trust will provide not less than six (6) months' advance written notice to the Company of the date of such liquidation, and, during the time prior to liquidation, the Trust will cooperate reasonably with the Company in effecting a transfer of assets to another underlying trust pursuant to either an exchange offer, an order issued by the SEC permitting substitution ("Substitution Order"), a no-action letter issued by the SEC, or other legal and appropriate means. (c) If the Agreement is terminated with respect to any Portfolio for any reason except as contemplated by subparagraph (a) of this Paragraph 20, the Trust shall, at the Company's option and pursuant to the terms and conditions of this Agreement, continue to make available additional shares of such Portfolio and redeem shares of such Portfolio for any or all Contracts existing on the effective date of termination of this Agreement, provided that such further sales are not prohibited by law, regulation, action by applicable regulatory body, or action by the Board. (d) If the Trust terminates this Agreement for any reason other than a material breach on the part of the Company, or if the Company terminates this Agreement because of a material breach on the part of the Trust or because the Trust's sale of its shares is not in accordance with applicable federal law, the Trust shall reimburse the Company for its expenses in effecting a substitution of other securities for shares of any Portfolio affected by such termination. For purposes of this subparagraph 20(d), such expenses shall include the cost incurred in the preparation and filing of any necessary application with the SEC under Section 26(c) of the 1940 Act to obtain a Substitution Order from the SEC or such other legal and appropriate means of replacing the Portfolio, the cost of providing notices to Contract owners, and the cost of any brokerage expenses of a Portfolio and a replacement trust that the Company would be required to bear in connection with such substitution or such other means, provided that reimbursement of the Company by the Trust for such expenses is consistent with the terms of the Substitution Order ...
