Common use of Prevention of Termination Clause in Contracts

Prevention of Termination. If NLCS wishes to dismiss the CCO under the terms of NLCS’s arrangement with the CCO, NLCS will present its plan of action to the Board prior to taking such action. Under such circumstances NLCS may, at its own discretion, offer to present another CCO candidate to the Board that would work through NLCS. If the Board approves the new CCO, the contract would continue as amended to reflect the new CCO. If, the Board chooses to engage its own CCO as a result of NLCS dismissing the CCO under this Agreement, the contract with NLCS would end, and the Trust would pay NLCS only for fees and Out of Pocket Expenses accrued up to the point in time when the Board’s new CCO officially assumes responsibility.

Prevention of Termination. If NLCS wishes to dismiss the CCO under the terms of NLCS’s arrangement with the CCOsuch person, NLCS will present its plan of action to the Board prior to taking such action. Under such circumstances NLCS may, at its own the Board’s discretion, offer to present another CCO a candidate to the Board that would work through NLCS. If the Board approves the candidate as the new CCO, the contract would continue as amended to reflect the new CCOso reflect. If, the Board chooses to engage its own CCO as a result of NLCS dismissing the CCO under this Agreement, the contract with NLCS would end, and the Trust would pay NLCS only for pro rated fees and Out of Pocket Expenses accrued up to the that point in time when the Board’s new CCO officially assumes responsibilitytime.

Prevention of Termination. If NLCS wishes to dismiss the CCO under the terms of NLCS’s arrangement with the CCO, NLCS will present its plan of action to the Board prior to taking such action. Under such circumstances NLCS may, at its own discretion, offer to present another CCO candidate to the Board that would work through NLCS. If the Board approves the new CCO, the contract would continue as amended to reflect the new CCO. If, the Board chooses to engage its own CCO as a result of NLCS dismissing the CCO under this Agreement, the contract with NLCS this Agreement would end, and the Trust Fund would pay NLCS only for fees and Out of Pocket Expenses accrued up to the point in time when the Board’s new CCO officially assumes responsibility.