Common use of Rights Regarding Termination Clause in Contracts

Rights Regarding Termination. A. This Agreement may be terminated at any time by the mutual agreement of the parties, or by either party for any of the following reasons: (1) Immediately by either party in the event of bankruptcy, insolvency, liquidation or assignment for the benefit of creditors by the other party; (2) Upon sixty (60) days written notice by either party in the event of any material change in the ownership or control of the other party; (3) Immediately by either party in the event any law or regulation of a federal, state or local government has rendered this Agreement illegal, but only insofar as that law or regulation applies to this Agreement; (4) Immediately by either party in the event of fraud, abandonment, gross or willful misconduct, insolvency, or lack of legal capacity to act on the part of either party; (5) Upon sixty (60) days written notice by either party in the event of default in any material term of this Agreement, unless the default is cured prior to the end of the end of the sixty (60) day period. B. In the event of termination of this Agreement: (1) TICNY shall promptly cease performing any services called for under this Agreement; (2) Neither party shall have any claim against the other for loss of prospective profits or fees or damage to business arising there from; (3) Notwithstanding the termination of this Agreement, TICNY shall continue to perform such services under this Agreement in settlement of accounts or winding up of affairs between TICNY and CPM if so requested by CPM. Expenses for the services rendered by TICNY shall be allocated in accordance with NY Department’s Regulation 30 and any other applicable regulation; (4) Notwithstanding the termination of this Agreement, TICNY shall continue to provide the claims and legal defense under this Agreement with respect to all claims reported to either prior to the effective date of any termination in accordance with the terms of this Agreement. In consideration for performing its services as set forth herein, CPM will continue to compensate TICNY in the manner set forth in Article 2 of this Agreement. In the event CPM assumes the handling of its own claims after termination, each party agrees to cooperate with and instruct its respective employees to cooperate in such transition.

Rights Regarding Termination. A. This Agreement may be terminated at any time by the mutual agreement of the parties, or by either party for any of the following reasons: (1) Immediately by either party in the event of bankruptcy, insolvency, liquidation or assignment for the benefit of creditors by the other party; (2) Upon sixty (60) days written notice by either party in the event of any material change in the ownership or control of the other party; (3) Immediately by either party in the event any law or regulation of a federal, state or local government has rendered this Agreement illegal, but only insofar as that law or regulation applies to this Agreement; (4) Immediately by either party in the event of fraud, abandonment, gross or willful misconduct, insolvency, or lack of legal capacity to act on the part of either party; (5) Upon sixty (60) days written notice by either party in the event of default in any material term of this Agreement, unless the default is cured prior to the end of the end of the sixty (60) day period. B. In the event of termination of this Agreement: (1) TICNY CPM shall promptly cease performing any services called for under this Agreement; (2) Neither party shall have any claim against the other for loss of prospective profits or fees or damage to business arising there from; (3) Notwithstanding the termination of this Agreement, TICNY CPM shall continue to perform such services under this Agreement in settlement of accounts or winding up of affairs between TICNY and CPM if so requested by CPMTICNY. Expenses for the services rendered by TICNY CPM shall be allocated in accordance with NY Department’s Regulation 30 and any other applicable regulation; (4) Notwithstanding the termination of this Agreement, TICNY shall continue to provide the claims and legal defense under this Agreement with respect to all claims reported to either prior to the effective date of any termination in accordance with the terms of this Agreement. In consideration for performing its services as set forth herein, CPM will continue to compensate TICNY in the manner set forth in Article 2 of this Agreement. In the event CPM assumes the handling of its own claims after termination, each party agrees to cooperate with and instruct its respective employees to cooperate in such transition.

Rights Regarding Termination. A. This Agreement may be terminated at any time by the mutual agreement of the parties, or by either party parties for any of the following reasons: (1) Immediately upon written notice by either party TRM in the event any of its agreements with its Client is terminated; (2) Immediately by both parties in the event of bankruptcy, insolvency, liquidation or assignment for the benefit of creditors by the other either party; (23) Upon sixty (60) 60 days written notice by either party in the event of any material change in the ownership or control of the other party;. (34) Immediately by either party in the event any law or regulation of a federal, state or local government has rendered this Agreement illegal, but only insofar as that law or regulation applies to this Agreement; (45) Immediately by either party in the event of fraud, abandonment, gross or willful misconduct, insolvency, or lack of legal capacity to act on the part of either party;. (56) Upon sixty (60) 60 days written notice by either party in the event of default in any material term of this Agreement, unless the default is cured prior to the end of the end of the sixty (60) day period. B. In the event of termination of this Agreement: (1) TICNY Tower shall promptly cease performing any services called all solicitation and underwriting activities provided for under this Agreement;hereunder. (2) Neither Upon termination of this Agreement, neither party shall have any claim against the other for loss of prospective profits or fees or damage to business arising there from;therefrom. (3) Notwithstanding the termination of this Agreement, TICNY Tower shall continue to perform such the services under described in Article 2.01 A through D of this Agreement in settlement of accounts or winding up of affairs between TICNY Tower and CPM TRM if so requested by CPMTRM. Expenses In connection therewith, Tower shall perform these duties without compensation until all the policies that are in force at the date of the termination have been either terminated or expired, whichever event occurs later. Thereafter, Tower agrees to perform the aforementioned services for a fee to be agreed upon between the services rendered parties if requested by TICNY shall be allocated in accordance with NY Department’s Regulation 30 and any other applicable regulation;TRM. (4) Notwithstanding the termination of this Agreement, TICNY Tower shall continue to provide the claims and legal defense under duties set forth it paragraph 2.01 E and F of this Agreement with respect to all claims reported to either it prior to the effective date of any termination in accordance with the terms of this Agreement. In consideration for performing its services as set forth herein, CPM TRM will continue to compensate TICNY Tower in the manner set forth in Article 2 3 of this Agreement. In the event CPM assumes the TRM takes over handling of its own any or all outstanding claims after termination, each party Tower agrees to cooperate with and instruct its respective employees to cooperate with TRM in connection with TRM's handling of such transitionclaims.

Rights Regarding Termination. A. This Agreement may be terminated at any time by the mutual agreement of the parties, or by either party for any of the following reasons: (1) Immediately by either party in the event of bankruptcy, insolvency, liquidation or assignment for the benefit of creditors by the other party; (2) Upon sixty (60) days written notice by either party in the event of any material change in the ownership or control of the other party; (3) Immediately by either party in the event any law or regulation of a federal, state or local government has rendered this Agreement illegal, but only insofar as that law or regulation applies to this Agreement; (4) Immediately by either party in the event of fraud, abandonment, gross or willful misconduct, insolvency, or lack of legal capacity to act on the part of either party; (5) Upon sixty (60) days written notice by either party in the event of default in any material term of this Agreement, unless the default is cured prior to the end of the end of the sixty (60) day period. B. In the event of termination of this Agreement: (1) TICNY CPM shall promptly cease performing any services called for under this Agreement; (2) Neither party shall have any claim against the other for loss of prospective profits or fees or damage to business arising there from; (3) Notwithstanding the termination of this Agreement, TICNY CPM shall continue to perform such services under this Agreement in settlement of accounts or winding up of affairs between TICNY and CPM if so requested by CPMTICNY. Expenses for the services rendered by TICNY CPM shall be allocated in accordance with NY Department’s Regulation 30 and any other applicable regulation; (4) Notwithstanding the termination of this Agreement, TICNY shall continue to provide the claims and legal defense under this Agreement with respect to all claims reported to either prior to the effective date of any termination in accordance with the terms of this Agreement. In consideration for performing its services as set forth herein, CPM will continue to compensate TICNY in the manner set forth in Article 2 of this Agreement. In the event CPM assumes the handling of its own claims after termination, each party agrees to cooperate with and instruct its respective employees to cooperate in such transition.

Rights Regarding Termination. A. This Agreement may be terminated at any time by the mutual agreement of the parties, or by either party for any of the following reasons: (1) Immediately by either party in the event of bankruptcy, insolvency, liquidation or assignment for the benefit of creditors by the other party; (2) Upon sixty (60) 60 days written notice by either party in the event of any material change in the ownership or control of the other party;. (3) Immediately by either party in the event any law or regulation of a federal, state or local government has rendered this Agreement illegal, but only insofar as that law or regulation applies to this Agreement; (4) Immediately by either party in the event of fraud, abandonment, gross or willful misconduct, insolvency, or lack of legal capacity to act on the part of either party;. (5) Upon sixty (60) 60 days written notice by either party in the event of default in any material term of this Agreement, unless the default is cured prior to the end of the end of the sixty (60) day period. B. In the event of termination of this Agreement: (1) TICNY Tower and CPM shall promptly cease performing any services called for under this Agreement;agreement. (2) Neither party shall have any claim against the other for loss of prospective profits or fees or damage to business arising there from;. (3) Notwithstanding the termination of this Agreement, TICNY Tower and CPM shall continue to perform such services under this Agreement in settlement of accounts or winding up of affairs between TICNY Tower and CPM if so requested by CPMeither party. Expenses Fees for the services rendered by TICNY Tower and CPM shall be allocated in accordance with NY Department’s Regulation 30 and any other applicable regulation;. (4) Notwithstanding the termination of this Agreement, TICNY Tower or CPM shall continue to provide the claims and legal defense under this Agreement with respect to all claims reported to either prior to the effective date of any termination in accordance with the terms of this Agreement. In consideration for performing its services as set forth herein, CPM and Tower will continue to compensate TICNY each other in the manner set forth in Article 2 of this Agreement. In the event CPM either company assumes the handling of its their own claims after termination, each party agrees to cooperate with and instruct its respective employees to cooperate in such transition.