Other Grounds for Termination. (a) In the event of the termination of the custody agreement between X.X. Xxxxxx and the Customer, X.X. Xxxxxx may terminate this Agreement in whole or in part and cease to provide the Services simultaneously with the transition of the assets of the Customer to a successor custodian, provided that if the Agreement is terminated during the initial term, the termination fee described in Section 7.1 shall apply. (b) Notwithstanding Section 7.2(a), either party may terminate this Agreement immediately upon written notice to the other party following the occurrence of any of the following: (i) the other party being declared bankrupt, entering into a composition with creditors, obtaining a suspension of payment, being put under court controlled management or being the subject of a similar measure; (ii) the relevant federal or state authority withdrawing its authorization of either party; or (iii) the other party committing any material breach of this Agreement and failing to remedy such breach (if capable of remedy) within 90 days of being given written notice of the material breach, unless the parties agree to extend the period to remedy the breach.
Appears in 4 contracts
Samples: Fund Services Agreement (First Eagle Funds), Fund Services Agreement (First Eagle Funds), Fund Services Agreement (First Eagle Credit Opportunities Fund)
