Common use of Partial Termination by Customer Clause in Contracts

Partial Termination by Customer. A. Customer agrees that, during the Term, Customer shall obtain exclusively from M&I all of its requirements covered by the Initial Services. If Customer breaches the foregoing covenant, Customer shall pay M&I a Termination Fee for the discontinued Service, as liquidated damages and not as a penalty except that Customer may terminate the receipt of the services specified with an asterisk on Schedule 5.1 without payment of any such fee after providing M&I at least ninety (90) days’ prior notice.

Appears in 1 contract

Samples: Outsourcing Agreement (First Midwest Bancorp Inc)

AutoNDA by SimpleDocs

Partial Termination by Customer. A. Customer agrees that, during the Term, Customer shall obtain exclusively from M&I all of its requirements covered by the Initial Services. If Customer breaches the foregoing covenant, Customer shall pay M&I a Termination Fee for the discontinued Service, as liquidated damages and not as a penalty except that Customer may terminate the receipt of the services specified with an asterisk on Schedule 5.1 without payment of any such fee after providing M&I at least ninety (90) days’ prior noticepenalty.

Appears in 1 contract

Samples: Outsourcing Agreement (Lehigh Acres First National Bancshares Inc)

Partial Termination by Customer. A. Customer agrees that, during the Term, Customer shall obtain exclusively from M&I substantially all of its requirements covered by the Initial Services. If Customer breaches the foregoing covenantcovenant by terminating Services representing more than five percent (5%) of the Monthly Base Fee, Customer shall pay M&I a Termination Fee for the discontinued Service, as liquidated damages and not as a penalty except that Customer may terminate the receipt of the services specified with an asterisk on Schedule 5.1 without payment of any such fee after providing M&I at least ninety (90) days’ prior noticepenalty.

Appears in 1 contract

Samples: Outsourcing Agreement (Privatebancorp Inc)

Partial Termination by Customer. A. Customer agrees that, during the Term, Customer shall obtain exclusively from M&I all of its requirements covered by the Initial Services. If Customer 18 breaches the foregoing covenant, Customer shall pay M&I a Termination Fee for the discontinued Service, as liquidated damages and not as a penalty except that Customer may terminate the receipt of the services specified with an asterisk on Schedule 5.1 without payment of any such fee after providing M&I at least ninety (90) days' prior notice.

Appears in 1 contract

Samples: Outsourcing Agreement (First Midwest Bancorp Inc)

AutoNDA by SimpleDocs

Partial Termination by Customer. A. Customer agrees that, during the Term, Customer shall obtain exclusively from M&I all of its data processing requirements covered by the Initial Services. If Customer breaches the foregoing covenant, Customer shall pay M&I a Termination Fee for the discontinued Service, as liquidated damages and not as a penalty except that Customer may terminate the receipt of the services specified penalty, in accordance with an asterisk on Schedule 5.1 without payment of any such fee after providing M&I at least ninety (90) days’ prior notice11.1.

Appears in 1 contract

Samples: Outsourcing Agreement (Florida Business Bancgroup Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.