Optional Termination of the Factoring Agreement Sample Clauses

Optional Termination of the Factoring Agreement. The parties acknowledge and agree that, on or following the Completion Date, the Purchaser may wish to terminate, at its own cost, the Factoring Agreement by settling any amounts outstanding thereunder as at such date. If the Purchaser informs the Seller in writing of its wish to terminate the Factoring Agreement on or immediately following the Completion Date, the Seller shall procure that, not less than 5 (five) Business Days prior to the Completion Date, the Company shall notify to the Purchaser all amounts outstanding under the Factoring Agreement (including interest and break-up fees, if any) and shall provide reasonable assistance to the Purchaser regarding any preliminary steps which the Purchaser may wish the Company to take to terminate the Factoring Agreement (provided that the Company shall not be required to: (i) communicate the existence of the Transaction or any intended termination to Aosta or any representative thereof prior to the Completion Date; or (ii) take any action which would or might reasonably be expected to result in any loss or liability for the Company prior to Completion). For the avoidance of doubt, the Seller shall not take (and shall procure that the Company does not take) any steps to terminate Factoring Agreement on or prior to Completion without the prior request of the Purchaser.
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Related to Optional Termination of the Factoring Agreement

  • 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.

  • Termination of Consulting Period Notwithstanding any other provision hereof, the Consulting Period and Consultant’s services as a consultant hereunder shall terminate, and, except as otherwise specifically provided herein, this Agreement shall terminate:

  • Additional Termination Event If any "Additional Termination Event" is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).

  • Additional Termination Events The following Additional Termination Events will apply:

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Term; Termination of Agreement This Agreement shall continue in force for a period of one year from the date hereof, subject to an unlimited number of successive one-year renewals upon mutual consent of the parties. It is the duty of the Independent Directors to evaluate the performance of the Advisor annually before renewing the Agreement, and each such renewal shall be for a term of no more than one year.

  • Earlier Termination Your employment hereunder shall terminate prior to the Initial Term (or any renewal term, in the event of renewal) on the following terms and conditions:

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.

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