Partial Termination Date Sample Clauses
The Partial Termination Date clause defines the specific date on which a portion of an agreement or contract is terminated, while the remainder continues in effect. In practice, this clause is used when only certain obligations, services, or deliverables under a contract are to be ended before the full contract term expires. For example, a client may wish to discontinue one service line but retain others under a broader service agreement. The core function of this clause is to provide a clear mechanism for ending part of a contractual relationship without disrupting the entire agreement, thereby offering flexibility and reducing potential disputes over which terms remain in force.
Partial Termination Date. Partial Termination Date means the date on which the Agreement is partially terminated in accordance with Section 3.03(B). #1 _[
Partial Termination Date. (i) The parties’ respective payment obligations under this Agreement shall be terminated with respect to any Reference Pool to the extent Freddie Mac designates a Partial Termination Date with respect to such Reference Pool following the occurrence of a Partial Termination Event with respect to such Reference Pool. Freddie Mac’s final payment obligations hereunder with respect to a Reference Pool subject to a Partial Termination Date shall be due on the Business Day prior to the Partial Termination Date and the Trust’s final payment obligations hereunder shall be due on the Partial Termination Date, in each case subject to Sections 4 and 6. The performance of such Reference Pool during the period commencing at the end of the immediately preceding Reporting Period and continuing until the related Partial Termination Date shall be disregarded for purposes of calculating such final payment obligations.
(ii) A Partial Termination Date shall occur on the first Payment Date following the date on which the notice designating such Partial Termination Date becomes effective, unless such notice becomes effective five (5) Business Days or less prior to such Payment Date, in which case such Partial Termination Date shall occur on the second Payment Date following the date on which such notice becomes effective.
Partial Termination Date. (i) ▇▇▇▇▇▇▇ Mac’s payment obligations under this Agreement shall be terminated with respect to any Reference Pool to the extent ▇▇▇▇▇▇▇ Mac designates a Partial Termination Date with respect to such Reference Pool following the occurrence of a Partial Termination Event with respect to such Reference Pool. ▇▇▇▇▇▇▇ Mac’s final payment obligations hereunder with respect to a Reference Pool subject to a Partial Termination Date shall be due on the Business Day prior to the Partial Termination Date, in each case subject to Sections 2 and 4. The performance of such Reference Pool during the period commencing at the end of the immediately preceding Reporting Period and continuing until the related Partial Termination Date shall be disregarded for purposes of calculating such final payment obligations.
(ii) A Partial Termination Date shall occur on the first Payment Date following the date on which the notice designating such Partial Termination Date becomes effective, unless such notice becomes effective five (5) Business Days or less prior to such Payment Date, in which case such Partial Termination Date shall occur on the second Payment Date following the date on which such notice becomes effective.
Partial Termination Date. The parties hereto hereby agree that if the Schlumberger Acquisition is not consummated on or before the Acquisition Deadline, the consent provided by Agent and the Lenders pursuant to Section 2 hereof, the amendment to the Credit Agreement set forth in Section 3(a) hereof and the Amendment to the Credit Agreement set forth in Section 4 hereof shall be null and void.