Term Default Termination Sample Clauses

Term Default Termination. Unless sooner terminated as provided herein, the term of this Agreement shall be perpetual. Any failure by Sixx to pay the Royalty to Xxxx on or before the expiration of the twentieth (20th) day of each month as set forth in paragraph 1 shall constitute a default (a “Default”) by Sixx. For all periods of time in which any Default has occurred and is continuing, interest on all due but unpaid Royalties shall accrue at the maximum rate permitted by applicable law. In the event that any Default has occurred and is continuing for a period of sixty (60) days, Xxxx’x obligations under paragraphs 3 and 4 shall terminate immediately, without any further action by Xxxx, and shall be without any further force or effect. Any fees and expenses (including attorneys’ fees) incurred by Xxxx in connection with any action taken, claim filed or proceeding instituted by Xxxx to enforce his right to receive payment pursuant to this Agreement shall be paid by Sixx.
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Term Default Termination. 13.1. This Agreement is effective as of the Effective Date and will continue in effect for three (3) Contract Years. Thereafter, this Agreement will be automatically renewed and continue for consecutive additional one (1) Contract Year renewal terms unless either party provides written notice of non-renewal to the other party at least one year prior to the end of the then current term.
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Term Default Termination 
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Related to Term Default Termination

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.

  • Termination Upon Event of Default If Foothill terminates this Agreement upon the occurrence of an Event of Default, in view of the impracticability and extreme difficulty of ascertaining actual damages and by mutual agreement of the parties as to a reasonable calculation of Foothill's lost profits as a result thereof, Borrower shall pay to Foothill upon the effective date of such termination, a premium in an amount equal to the Early Termination Premium. The Early Termination Premium shall be presumed to be the amount of damages sustained by Foothill as the result of the early termination and Borrower agrees that it is reasonable under the circumstances currently existing. The Early Termination Premium provided for in this Section 3.7 shall be deemed included in the Obligations.

  • Duration Termination and Default Section VIII. Duration, Termination, and Default subsection A. Duration 1. is hereby deleted in its entirety and replaced with the paragraph below “This Agreement begins on the Effective Date and continues until February 23, 2021, unless sooner terminated or extended in accordance with the terms of this Agreement. This Agreement will automatically renew for an additional three (3) year term unless, no later than July 23, 2020, one Party gives the other Party written notice of non-renewal. The initial term and any renewal term of this Agreement are referred collectively as the “Term”.”

  • Termination Upon Default Either Party may terminate this Agreement in whole or in part in the event of a default by the other Party; provided however, that the non-defaulting Party notifies the defaulting party in writing of the alleged default and that the defaulting Party does not cure the alleged default within sixty (60) calendar days of receipt of written notice thereof. Default is defined to include:

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Additional Termination Event If any "Additional Termination Event" is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

  • Additional Termination Events The following Additional Termination Events will apply:

  • DEFAULT; TERMINATION OF SERVICER 95 SECTION 7.01. Events of Default...........................................................95 SECTION 7.02. Trustee to Act; Appointment of Successor....................................97 SECTION 7.03. Notification to Certificateholders..........................................98

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