Revocation for specific reasons Sample Clauses

Revocation for specific reasons. Subject to article 35, all Mandates may be revoked in any of the following cases with five (5) Business Days prior notice served by a registered letter to the Originator with receipt confirmation if the Originator fails to pay the amounts required to be paid pursuant to Article 35.3 within the required time period; and: - absence of credit entries relating to transactions under the Contract recorded in each of the Dedicated Accounts taken as a whole for 5 consecutive Business Days; or - any material or repeated breach by the any of the Quiksilver Originators of its obligations under the Contract or the other Quiksilver AR Financing Facilities; or - any of the following events: (i) a material failure by the Originator to comply with its collection procedures, (ii) a failure by the Originator to domicile assigned invoice payments on the Dedicated Account referred to in article 18-3-2 and/or absence of any transactions on the Dedicated Account, (iii) a closure of any of the Dedicated Accounts (provided that if such closure occurs through no fault of the Originator the Parties shall work promptly and in good faith to establish alternate Dedicated Accounts subject to having established such alternate Dedicated Accounts before the effective date of the given revocation). § In the following cases, and if the Originator’s records and documents show that one or several of the following events has occurred, each of them calculated on a monthly basis: - a percentage of Relevant Receivables purchased (and not reassigned pursuant to article 19.4) overdue by more than 30 days in excess of 10% of the outstanding amount of receivables purchased (and not reassigned) each month by the AR Facility Provider, - existence of actual or potential bad debts and dilutions (credit notes, direct payments, disputes, invoices debited to the current account, deductions made by Debtors), in excess of 10% of the transferred turnover without prejudice to article 20, - variation of 10% recorded in the OAA between the amount of cashed payments and the expected amount of payments, the AR Facility Provider undertakes to promptly inform the Originator and a monitoring period (the Monitoring Period) of sixty (60) days will be opened during which the parties will make their best efforts to solve the difficulties. If one or several of the events listed above is still occurring for three consecutive months, then this will be a case of revocation of the mandates and the Originator will have a cure p...
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Related to Revocation for specific reasons

  • Termination for Cause with Notice to Cure Requirement Contractor may terminate this contract for the Department’s failure to perform any of its duties under this contract after giving the Department written notice of the failure. The written notice must demand performance of the stated failure within a specified period of time of not less than 30 days. If the demanded performance is not completed within the specified period, the termination is effective at the end of the specified period.

  • Termination for Market Change (a) In the event of delay or interruption under B8.33, exceeding 90 days, and Contract has not been modified to include replacement timber, this contract may be terminated upon election and written notice by Purchaser, if (i) a rate redetermination for market change under B3.33 shows that the appraised weighted average Indicated Advertised Rate of all Included Timber remaining immediately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the the weighted average Current Contract Rate, or (ii) the appraised value of the remaining timber is insufficient to cover the adjusted base rates as determined under B3.33.

  • Termination for Good Reason The Employee's employment may be terminated by the Employee for Good Reason. For purposes of this Agreement, "Good Reason" shall mean:

  • Reason for Layoff Layoffs shall occur due to lack of work or lack of funds.

  • Termination for Good Cause During the Initial Term or a Renewal Term, a party (the “Terminating Party”) may only terminate the Agreement against the other party (the “Non-Terminating Party”) for good cause. For purposes of this Agreement, “good cause” shall mean:

  • Termination for Force Majeure 15.5.1. The License Agreement may be terminated for Force Majeure Reasons as specified in Article -14.

  • Resignation for Good Reason The Executive may resign from the Executive’s employment for Good Reason.

  • Termination for Just Cause In the event that the EMPLOYERS terminate the employment of the EMPLOYEE during the TERM because of the EMPLOYEE'S personal dishonesty, incompetence, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure or refusal to perform the duties and responsibilities assigned in this AGREEMENT, willful violation of any law, rule, regulation or final cease-and-desist order (other than traffic violations or similar offenses), conviction of a felony or for fraud or embezzlement, or material breach of any provision of this AGREEMENT (hereinafter collectively referred to as "JUST CAUSE"), the EMPLOYEE shall not receive, and shall have no right to receive, any compensation or other benefits for any period after such termination.

  • Termination for Disability (a) If EXECUTIVE shall become disabled as defined in the BANK's then current disability plan (or, if no such plan is then in effect, if EXECUTIVE is permanently and totally disabled within the meaning of Section 22(e)(3) of the Code as determined by a physician designated by the Board), the BANK may terminate EXECUTIVE's employment for "Disability." (b) Upon EXECUTIVE's termination of employment for Disability, the BANK will pay EXECUTIVE, as disability pay, a bi-weekly payment equal to three-quarters (3/4) of EXECUTIVE's bi-weekly rate of Base Salary on the effective date of such termination. These disability payments shall commence on the effective date of EXECUTIVE's termination and will end on the earlier of (i) the date EXECUTIVE returns to the full-time employment of the BANK in the same capacity as he was employed prior to his termination for Disability and pursuant to an employment agreement between EXECUTIVE and the BANK; (ii) EXECUTIVE's full-time employment by another employer; (iii) EXECUTIVE attaining the age of sixty-five (65); or (iv) EXECUTIVE's death; or (v) the expiration of the term of this Agreement. The disability pay shall be reduced by the amount, if any, paid to EXECUTIVE under any plan of the BANK providing disability benefits to EXECUTIVE. (c) The BANK will cause to be continued life, medical, dental and disability coverage substantially identical to the coverage maintained by the BANK for EXECUTIVE prior to his termination for Disability. This coverage and payments shall cease upon the earlier of (i) the date EXECUTIVE returns to the full-time employment of the BANK, in the same capacity as he was employed prior to his termination for Disability and pursuant to an employment agreement between EXECUTIVE and the BANK; (ii) EXECUTIVE's full-time employment by another employer; (iii) EXECUTIVE's attaining the age of sixty-five (65); (iv) EXECUTIVE's death; or (v) the expiration of the term of this Agreement. (d) Notwithstanding the foregoing, there will be no reduction in the compensation otherwise payable to EXECUTIVE during any period during which EXECUTIVE is incapable of performing his duties hereunder by reason of temporary disability.

  • Beneficiary Designation: Change The Executive shall designate a Beneficiary by completing and signing the Beneficiary Designation Form and delivering it to the Plan Administrator or its designated agent. The Executive’s Beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved. The Executive shall have the right to change a Beneficiary by completing, signing, and otherwise complying with the terms of the Beneficiary Designation Form and the Plan Administrator’s rules and procedures, as in effect from time to time. Upon the acceptance by the Plan Administrator of a new Beneficiary Designation Form, all Beneficiary designations previously filed shall be cancelled. The Plan Administrator shall be entitled to rely on the last Beneficiary Designation Form filed by the Executive and accepted by the Plan Administrator before the Executive’s death.

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