Premature termination of the Agreement Sample Clauses

Premature termination of the Agreement. 9.2.1 The Lessor shall have the right to cancel the Agreement extraordinarily and without any advance notification, if: (i) the Lessee has submitted false information in the application for the conclusion of the Agreement or in other documents submitted to the Lessor, or has failed to submit information concerning his or her activities or legal status, which significantly affects the performance of the obligations arising from the Agreement; (ii) the Lessee fails to make the Downpayment or pay the Agreement Fee in a timely manner and/or informs the Lessor of his or her intention not to make the Downpayment; (iii) the Lessee refuses to accept or delays acceptance of the possession of the Property without a good reason; (iv) the Lessee partially or completely delays payment of at least one (1) Instalment Payment or any other payment arising from the Agreement, and fails to eliminate the breach within a 14 (fourteen)-day additional term established by the Lessor; (v) The surety or guarantor securing the Lessee's obligations arising from the Agreement is subjected to transformation, is dissolved or declared bankrupt, or a reorganisation plan is approved thereof, reorganising the surety or guarantee provided to the Lessor, and the Lessee fails to provide additional security acceptable to the Lessor within 14 calendar days; (vi) the value of the Property decreases due to the activity of the Lessee or the Lessee's failure to act, including cases where the Lessee fails to eliminate the deficiencies of the Property which the Lessee is obliged to eliminate under the Agreement; (vii) the Property is destroyed or rendered unfit for use or possession of the Property is permanently lost by the Parties to the Agreement (including due to theft, robbery or embezzlement); (viii) the Lessee fails to appropriately insure the Property or to renew the insurance contract pursuant to the procedure provided in the Agreement, or otherwise violates the Property insurance obligation stipulated in Chapter 6 of the General Conditions; (ix) the Lessee fails to adhere to the requirements established by the Seller or manufacturer of the Property for the technical maintenance, use and/or exploitation of the Property; (x) the Lessee fails to fulfil any of the obligations arising from the Agreement, and does not eliminate the breach within a 14 (fourteen)-day additional term established by the Lessor; (xi) withdrawal from the Contract of Sale due to deficiencies discovered in the Property or...
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Premature termination of the Agreement. 12.1 Either Party may immediately terminate this Agreement by giving written notice by registered letter to the other Party if any of the following occurs: 12.1.1 bankruptcy proceeding is instituted against either Party's assets, or such proceeding is not instituted because of insufficient assets; 12.1.2 such other Party materially breaches this Agreement and fails to remedy such breach within 60 days after written notice is given. 12.2 In addition to the circumstances set forth in Clause 11.1 M&M may terminate this Agreement at any time by giving XxXxx 30 Days prior written notice by registered letter and remittance of any outstanding invoices or expenses incurred as a result of the project till the date of receiving notice by XxXxx
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Premature termination of the Agreement. 18.1. This Agreement shall automatically expire if and if so when the Authority decides that the financing to (a) certain Party/Parties shall be withdrawn, unless the other Parties jointly decide that the Project shall continue (in which case they shall agree jointly on the amendments to the applicable terms that may be required as a result of the new circumstances in the Project). 18.2. The Agreement can be terminated by or in relation to a Party as set out below. However, this presupposes that the Authority approves such termination, which regardless of any notice period shall become effective as of the date of the Authority's decision or such later date as set out in the decision. 18.3. A Party may terminate the Agreement prematurely with six (6) months prior notice, or such shorter notice period which all other Parties approve or which the terminating Party shows to be reasonable. It shall then be liable to perform all of its obligations during and after the period of notice with respect to commitments already made, unless the Project can otherwise obtain corresponding contributions on reasonable terms and conditions. 18.4. This Agreement may be terminated in relation to a Party who has materially or repeatedly breached its undertakings of the Agreement and has failed to take corrective actions within thirty (30) days of a written notice by any of the other Parties. Termination may also be made by a Party who has been declared bankrupt, suspended its payments, initiated composition negotiations, entered into liquidation or reorganization, or who for other reasons can be presumed to be insolvent. A decision of termination shall be made by the other Parties by a simple majority of votes. 18.5. If the underlying prerequisites of the Project are substantially changed, the Parties may agree that the Agreement shall expire and the Project shall terminate. If so, a Research Party shall, subject to the Authority’s approval, have a right to receive reasonable compensation from Authority funds that may be available, for the work performed and for necessary closing-down costs.
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Premature termination of the Agreement. The Agreement may be terminated at any time owing to unforeseen circumstances by both Parties with prior notice of a period of 4 (four) weeks. In such cases the Grantee will be paid for the project’s outputs that is able to deliver until the point of termination.
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Premature termination of the Agreement. 13.1 If either party fails materially in its performance of the Agreement, and rectification is not carried out without delay following an objection, the opposite party is entitled to cancel the Agreement with immediate effect. 13.2 A party may also cancel this Agreement with immediate effect if the other party becomes bankrupt, goes into liquidation, suspends payments or in other respects can be regarded as being insolvent, or if the other party is bought by another company. 13.3 In the event of premature termination of the Agreement as above, all cases in progress and documents relating thereto shall be presented and handed over to the Client.
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Premature termination of the Agreement. Parties may, in response to a written request from the client, agree to terminate the Agreement prematurely and/or without observing the aforementioned notice period in whole or in part. The logistics service provider may attach (financial) conditions to their cooperation.
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Premature termination of the Agreement. 6.1. The Depositor shall be entitled to terminate the Agreement unilaterally, by informing the Bank thereof at least 35 (thirty five) days ahead. In such case, the Bank shall pay out the Deposited Amount to the Depositor without paying out the Interest accrued. 6.2. If the Deposit has been placed in accordance with custom terms, then, in accordance with the Deposit placement terms selected by the Client, the procedure of paying Interest may differ from the Deposit terms and conditions specified in the Agreement. Inter alia, the Depositor shall be entitled to unilaterally terminate the Agreement, by informing the Bank thereof at least 35 (thirty five) days ahead, and request premature repayment of the Deposit. In such case, the Bank shall repay the Deposited Amount to the Depositor after deducting Interest previously paid out to the Depositor (including taxes, duties and other payments withheld by the Bank in accordance with the applicable legislation of the Republic of Latvia), without paying out accrued Interest to the Depositor. 6.3. The Bank shall have the right to refuse the early termination of the Agreement if the Depositor fails to notify the Bank of the early termination of the Agreement or fails to comply with the warning period laid down in paragraphs 6.1 and 6. 6.4. The Bank shall be entitled to, without giving a prior notice to the Depositor, terminate the Agreement unilaterally and close the Deposit Account prior to the expiration of the Deposit Term: 6.4.1. if collection is enforced upon the Depositor’s funds in accordance with the applicable legislation of the Republic of Latvia — at the moment of enforcement of collection; 6.4.2. if the Bank exercises rights under Section 5 of the Agreement — at the moment of exercising the rights; 6.4.3. if the Depositor fails to fulfil their obligations to the Bank or to fulfil them appropriately. When the Agreement is terminated, the Bank shall pay out the Deposited Amount and the accrued Interest to the Depositor — within 1 (one) month after such a decision is made.
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Premature termination of the Agreement. The FACTOR may, at any time, without prejudice to the term stated in the preceding clause, consider the agreement as terminated when any of the following circumstances occur: A). Termination due to reduction in the CLIENT's solvency: the CLIENT's solvency shall be considered to be reduced, thus giving rise to a right on the part of the FACTOR in prematurely terminate this agreement, giving notice of this to the CLIENT, should the CLIENT carry out or, even without any fault on its part, be affected by any of the following: 1.- If the CLIENT submits an application to be declared in suspension of payments or bankrupt or if an application is submitted by a third party and is accepted by a judicial ruling, or if the CLIENT is subject to judicial administration or if it is subject to confiscation of its assets or if the CLIENT acknowledges its inability to meet its debts when due or if renegotiation of all or some of its payment liabilities is begun. 2.- If any judicial proceedings are carried on against the CLIENT that entail enforcement or attachment. 3.- If the CLIENT ceases to protest acceptances or if default occurs on its part of any type of payment obligation with third parties. 4.- If, for any reason, the CLIENT ceases to carry on its business, resolves dissolution, liquidation or closure of the greater part of its establishments. The CLIENT agrees to notify the FACTOR immediately of the occurrence of any of the situations listed above. In the above cases, the FACTOR shall retain ownership of the credits assigned and it shall take possession of the amount of such credits as have been subject to advance payment to the CLIENT in the terms provided in clause three hereof. It shall likewise take possession of the remaining credits, as far as they extend, to cover interest, commission and other debts that may be payable by the debtor. The FACTOR shall deliver the surplus to the person legally authorised to receive it. Without prejudice to
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Related to Premature termination of the Agreement

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Term and Termination of the Agreement 9.1. The Agreement shall enter into force upon its signing by the Parties and shall remain in full force and effect until the Parties have fully and properly fulfilled their obligations (including, unequivocally in the case the term of any other agreement associated with the Agreement exceeds the term of the Agreement). 9.2. In the cases and under the conditions stipulated by the Agreement and/or Legislation, it is possible to terminate the Agreement before expiration of its term in whole or in part:

  • Duration and Termination of the Agreement This Agreement shall become effective upon its execution; provided, however, that this Agreement shall not become effective with respect to any Portfolio now existing or hereafter created unless it has first been approved (a) by a vote of the Independent Trustees, cast in person at a meeting called for the purpose of voting on such approval, and (b) if required under the 1940 Act, by an affirmative vote of a majority of the outstanding voting shares of that Portfolio. This Agreement shall remain in full force and effect continuously thereafter without the payment of any penalty as follows: (a) By vote of a majority of the (i) Independent Trustees, or (ii) outstanding voting shares of the applicable Portfolios, the Trust may at any time terminate this Agreement with respect to any or all Portfolios by providing not more than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager and the Subadviser. (b) This Agreement will terminate automatically with respect to a Portfolio unless, within two years after its initial effectiveness with respect to such Portfolio and at least annually thereafter, the continuance of the Agreement is specifically approved by (i) the Board of Trustees or the shareholders of such Portfolio by the affirmative vote of a majority of the outstanding shares of such Portfolio, and (ii) a majority of the Independent Trustees, by vote cast in person at a meeting called for the purpose of voting on such approval. If the continuance of this Agreement is submitted to the shareholders of any Portfolio for their approval and such shareholders fail to approve such continuance as provided herein, the Subadviser may continue to serve hereunder in a manner consistent with the 1940 Act and the rules and regulations thereunder. (c) The Manager may at any time terminate this Agreement with respect to any or all Portfolios by not less than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Subadviser, and the Subadviser may at any time terminate this Agreement with respect to any or all Portfolios by not less than 90 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager. (d) This Agreement automatically and immediately will terminate in the event of its assignment. Upon termination of this Agreement with respect to any Portfolio, the duties of the Manager delegated to the Subadviser under this Agreement with respect to such Portfolio automatically shall revert to the Manager.

  • Duration of the Agreement This Agreement shall come into effect on the day and year stated in Box 4 and shall continue until the date stated in Box 17. Thereafter it shall continue until terminated by either party giving to the other notice in writing, in which event the Agreement shall terminate upon the expiration of a period of two months from the date upon which such notice was given.

  • 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.

  • Amendment or Termination of Agreement This Agreement may be changed or terminated only upon the mutual written consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company after such change or termination has been approved by the Board.

  • Operation of the Agreement The Parties recognize that it is impractical in this Agreement to provide for every contingency which may arise during the life of the Agreement, and the Parties hereby agree that it is their intention that this Agreement shall operate fairly as between them, and without detriment to the interest of either of them, and that, if during the term of this Agreement either Party believes that this Agreement is operating unfairly, the Parties will use their best efforts to agree on such action as may be necessary to remove the cause or causes of such unfairness, but failure to agree on any action pursuant to this Clause 8.2 shall not give rise to a dispute subject to arbitration in accordance with Clause 9 hereof.

  • Termination of Plan The Sponsor may terminate the Plan and the Trust with respect to all Employers by executing and delivering to the Committee and the Trustee, a notice of termination, specifying the date of termination.

  • Application of the Agreement (1) This Agreement shall apply to investments made in the territory of either Contracting Party in accordance with its legislation by investors of the other Contracting Party prior as well as after the entry into force of this Agreement. (2) This Agreement shall not apply to claims which have been settled or procedures which have been initiated prior to its entry into force.

  • Implementation of the Agreement Regulations of this Agreement relating to investments who investors of one Contracting Party realized before or after the entry into force of this Agreement, with what shall apply from the moment of its entry into force, provided that such investments conducted in accordance with the laws of that Party Contracting.

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