Optional Termination of Concurrent Leases Sample Clauses

Optional Termination of Concurrent Leases. If, at any time: (1) a Trigger Event or Termination Event has occurred and is continuing; (2) the Concurrent Lessee has drawn upon the liquidity support provided pursuant to the Liquidity Agreement; (3) a Designated Eligible Lease is a 90 Day Past Due Lease; (4) the Concurrent Lessee makes a demand for payment to the Lessor in respect of a change of circumstance pursuant to section 11.2; or (5) following the Termination Date, the Aggregate Financed Balance is less than 10% of the Program Limit as at the Termination Date, the Lessor may, subject to the Concurrent Lessee's rights under section 7.6, elect by notice (an "Optional Termination Notice") to the Concurrent Lessee, to terminate, in the case of (c) above, the Concurrent Lease relating to the affected Designated Eligible Lease or, in any other case, all of the Concurrent Leases, by making a payment, as a refund of the outstanding portion of the Prepaid Rent paid by the Concurrent Lessee in respect of such Concurrent Lease or Concurrent Leases of the affected Equipment and all Related Rights thereto. The termination of the Concurrent Lease or Concurrent Leases shall be effective upon the payment, by deposit to the Collection Account, by the Lessor to the Concurrent Lessee of an amount equal to the sum of (i) the aggregate Unamortized Prepaid Rent relating to the affected Designated Eligible Lease or Designated Eligible Leases, calculated as at such date, (ii) the portion of the Hedging Costs that relates to the Financed Balances under those leases on that date, and (iii) any other fees, costs and expenses accrued and reasonably incurred by the Concurrent Lessee, or any other amounts otherwise owing to the Concurrent Lessee, in connection with or under this Agreement or with respect to such Designated Eligible Lease or Designated Eligible Leases to the date of such payment, including any Swap Unwinding Costs. Upon the payment to the Concurrent Lessee of such amount, (A) the Concurrent Lease relating to the relevant Equipment shall be and shall be deemed to have been terminated, (B) the Lessor shall cease to be entitled to any further payments of Deferred Rent in respect of such Equipment, (C) the Concurrent Lessee shall be deemed to have released, re-assigned and reconveyed to the Lessor all of the Concurrent Lessee's right, title and interest in and to such Equipment and the relevant Lease Entitlements (insofar as they relate to the Designated Eligible Leases relating to such Equipment), without recour...
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Related to Optional Termination of Concurrent Leases

  • Termination Apart from Change of Control In the event the Employee’s employment is terminated for any reason, either prior to the occurrence of a Change of Control or after the twelve (12) month period following a Change of Control, then the Employee shall be entitled to receive severance and any other benefits only as may then be established under the Company’s (or any subsidiary’s) then existing severance and benefits plans or pursuant to other written agreements with the Company.

  • Termination of Contracts Neither the Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any material contract or agreement referred to or described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus or filed as an exhibit to the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or by any other party to any such contract or agreement.

  • Termination Apart from a Change of Control If the Employee's employment with the Company terminates other than as a result of an Involuntary Termination within the twelve (12) months following a Change of Control, then the Employee shall not be entitled to receive severance or other benefits hereunder, but may be eligible for those benefits (if any) as may then be established under the Company's then existing severance and benefits plans and policies at the time of such termination.

  • Mandatory Termination of Commitments The Commitments shall terminate on the Termination Date and any Loans then outstanding (together with accrued interest thereon) shall be due and payable on such date.

  • Termination of Contract The Department may terminate the Contract for refusal by the Contractor to comply with this section by not allowing access to all public records, as defined in Chapter 119, F. S., made or received by the Contractor in conjunction with the Contract.

  • Optional Termination The termination of the Trust Fund created hereunder as a result of the purchase of all of the Mortgage Loans and any REO Property pursuant to the last sentence of Section 10.01 hereof.

  • EFFECT OF OPTIONAL TERMINATION Upon the exercise of the option to terminate pursuant to Section 7.2, this Agreement shall terminate and be of no further force or effect; provided, however, that: A. the Parties respective rights and obligations under this Agreement with respect to the Tax Year or Tax Years (as the case may be) through and including the Tax Year during which such notification is delivered to the District, shall not be impaired or modified as a result of such termination and shall survive such termination unless and until satisfied and discharged; and B. the provisions of this Agreement regarding payments (including liquidated damages and tax payments), records and dispute resolution shall survive the termination or expiration of this Agreement.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • Prepayment; termination of Commitment On the Agent notifying the Borrower under Clause 23.2, the Notifying Lender’s Commitment shall terminate; and thereupon or, if later, on the date specified in the Notifying Lender’s notice under Clause 23.1 as the date on which the notified event would become effective the Borrower shall prepay the Notifying Lender’s Contribution in accordance with Clause 8.

  • Optional Termination or Reduction of Commitments During the Revolving Credit Period, the Company may, upon at least three Domestic Business Days’ notice to the Administrative Agent, (i) terminate the Commitments at any time, if no Loans are outstanding at such time or (ii) ratably reduce from time to time by an aggregate amount of $25,000,000 or any larger multiple thereof, the aggregate amount of the Commitments in excess of the aggregate outstanding principal amount of the Loans.

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