Term of Termination Sample Clauses

Term of Termination. The Franchise shall be non-exclusive and shall continue for a period of twenty years from and after the effective date of this Agreement, as set forth in Section 5. The Company may, at its option, terminate the Franchise and this Agreement upon five (5) days' written notice if (a) the City breaches any PUBLIC SERVICE COMMISSION OF KENTUCKY of its obligations hereunder and such breach is not cured within thirty (30) days of the Company's notice to the City of such breach; (b) the Company is not permitted to pass through to affected customers all fees payable by it under Sections 9 and 10 herein; or (c) the City creates or amends any ordinance or regulation which, in the Company's sole discretion, would have the effect of (i) substantially altering, amending or adding to the terms of this Agreement, (ii) substantially impairing the Company's ability to perform its obligations under the Franchise in an efficient, unencumbered and profitable way; or (iii) preventing the Company from complying with applicable statutes or regulations, rules or orders issued by the Kentucky Public Service Commission. Without diminishing the Company's rights under this Section 3, the City agrees that to the extent it desires to pass or amend an ordinance or regulation which could have the effect of substantially (i) altering, amending, or adding to the terms of this Agreement; (ii) impairing the Company's ability to perform its obligations under the Franchise in an efficient, unencumbered and profitable way; or (iii) preventing the Company from complying with applicable statutes or regulations, rules or orders issued by the Kentucky Public Service Commission, that it will first discuss such proposed ordinance or regulation with the Company and the parties shall negotiate in good faith regarding the same.
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Term of Termination. (a) The term of this Agreement shall commence on May 15, 2000 and shall continue until terminated by either party in accordance with the provisions of this Section 5. (b) This Agreement may be terminated by the Company for justifiable cause (as hereinafter defined) upon 30 days notice without any severance obligation on the part of the Company. For the purpose of this Agreement, the term justifiable cause shall include acts of moral turpitude, the willful habitual neglect of the executives' obligations under this Agreement misuse of corporate funds, or any other act of gross misconduct. (c) This Agreement may be terminated by the Company upon 30 days notice without justifiable cause provided that the Company shall pay the Executive an amount equal to the sum of his then current monthly base salary as a severance payment to him for a period of nine months following the date of termination, or until the Executive finds other full time employment, whichever is shorter. The executive's medical benefits shall continue during this severance period. The payment to the Executive of the severance payment described in this Section 5 shall discharge all of the Company's obligations to the Executive. (d) This Agreement may be terminated by the Executive at any time upon 30 days written notice, in which case the Company shall have no severance obligations to the Executive.
Sample 1
Term of Termination. (a) This MOU is for an initial period of 10 years. (b) This MOU can be amended, renewed or terminated by mutual written agreement of the two parties at any time. (c) Unilateral termination : Either side can terminate this agreement by giving 18 months prior written notice. (d) The legal status of the “National Centre for Mathematics” will be that of a Centre of IITB. The resolution of possible conflicts and disputes on the interpretation and performance of this MOU will be through an arbitration board consisting of a member of each Institute, and a third member chosen by mutual consent. (e) Ownership of all the assets will be vested with IITB. (f) The Apex Committee will evolve policies related to filing of patents, copyrights, technology transfer and/or transfer of intellectual property rights.
Sample 1
Term of Termination. 3.1 The Agreement shall be effective from the date of signing or debit of the premium amount from the account of policy holder (hereinafter referred to as "the Effective Date"), whichever later and shall be in force and effect up to 31st March, 2024(i.e premium will be seeded to the company till 31.03.2024).Bank may terminate the Agreement by giving a prior written notice of 15 days to the Party or as under the terms provided hereunder. Due to unavoidable reasons the parties can extend the existing rate contracts on the same price, terms and conditions as sub rule (2) (i) of rule 29 of the RTTP Rules 2013. 3.2 Notwithstanding anything herein contained, bank may, by giving Fifteen (15) days notice in writing, terminate this Agreement under any one or more of the following conditions : i) In the event of default of performance of any the obligations herein or the Service provided herein is in contravention of any law, as may be applicable from time to time, or industry practice, or under the circumstances which would amount to objectionable service; ii) If second party fails to perform and observe any of their obligations under this Agreement; iii) If a-petition for insolvency is filed against any Party and such petition is not dismissed within ninety (90) days after filing and/or if second party does not make an arrangement for the benefit of its claimants or, if the court receiver is appointed as receiver of all/any of second party's properties. 3.3 It is hereby agreed and understood by the Parties that the provisions of above clause shall not limit or restrict nor shall they preclude any party from pursuing such further and other legal actions, against the other party for any breach or non-compliance of the terms of this Agreement. 3.4 In the event that this Agreement is terminated for any reason, either party shall forthwith handover to the other the possession of all documents, material and any other property belonging to the other that may be in the possession of the party or any of its employees, agents or individuals assigned to perform the services under this Agreement.
Sample 1
Term of Termination. The Franchise shall be exclusive and shall (i) altering, amending, or adding to the terms of this Agreement; (ii) impairing the Company's ability to perform its obligations under the Franchise in an efficient, unencumbered and profitable way; or (iii) preventing the Company from complying with applicable statutes or regulations; rules or orders issued by the Kentucky Public Service Commission, that it will first discuss sucli proposed ordinance or regulation with the Company and the parties shall negotiate in good faith regarding the same.
Sample 1
Term of Termination. The Franchise shall be exclusive and shall continue for a period of twenty(20) years from and after the effective date of this Agreement, as set forth in Section 5. The Company may, at its option, terminate the Franchise and this Agreement upon five(5) days' written notice if(a) the City breaches any of its obligations hereunder and such breach is not cured within thirty(30) days of the Company's notice to the City of such breach;(b) the Company is not permitted to pass through to affected customers all fees payable by it under Sections 9 and 10 herein; or(c) the City creates or amends any ordinance or regulation which, in the Company's sole discretion, would have the effect of (i) substantially altering, amending or adding to the terms of this Agreement, (ii) substantially impairing the Company's ability to perform its obligations under the Franchise in an efficient, unencumbered and profitable way; or
Sample 1
Term of Termination 
Sample 1
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Related to Term of Termination

  • Term Termination 10.1. This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein. 10.2. This Agreement shall terminate in accordance with the following provisions: (a) At the option of the Company or the Trust at any time from the date hereof upon 180 days’ notice, unless a shorter time is agreed to by the parties; (b) At the option of the Company or the Trust, if Fund shares are not reasonably available to meet the requirements of the Variable Contracts. Prompt notice of election to terminate shall be furnished by the Company. The termination will be effective ten days after receipt of notice unless the Trust makes available a sufficient number of Fund shares to reasonably meet the requirements of the Variable Contracts within the ten-day period; (c) At the option of the Company, upon the institution of formal proceedings against the Trust, the Distributor or Adviser by the SEC, FINRA, or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in the Company’s reasonable judgment, materially impair the Trust’s, the Distributor’s or the Adviser’s ability to meet and perform their respective obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by the Company with said termination to be effective upon receipt of notice; (d) At the option of the Trust, the Distributor or the Adviser, upon the institution of formal proceedings against the Company by the SEC, FINRA, or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Trust’s reasonable judgment, materially impair the Company’s ability to meet and perform its obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by Trust with said termination to be effective upon receipt of notice; (e) At the option of the Company, in the event the Trust’s shares are not registered, issued or sold in accordance with applicable state or federal law, or such law precludes the use of such shares as the underlying investment medium of Variable Contracts issued or to be issued by the Company. Termination shall be effective immediately upon notice to the Trust; (f) At the option of the Trust if the Variable Contracts cease to qualify as annuity contracts or life insurance contracts, as applicable, under the Code, or if the Trust reasonably believes that the Variable Contracts may fail to so qualify. Termination shall be effective upon receipt of notice by the Company; (g) At the option of the Company, upon the Trust’s breach of any material provision of this Agreement, which breach has not been cured to the satisfaction of the Company within ten days after written notice of such breach is delivered to the Trust; (h) At the option of the Trust, upon the Company’s breach of any material provision of this Agreement, which breach has not been cured to the satisfaction of the Trust within ten days after written notice of such breach is delivered to the Company; (i) At the option of the Trust, if the Variable Contracts are not registered, issued or sold in accordance with applicable federal and/or state law. Termination shall be effective immediately upon such occurrence without notice to the Company; (j) At the option of the Company in the event that any Fund ceases to qualify as a Regulated Investment Company under Subchapter M of the Code or under any successor or similar provision, or if the Company reasonably believes that any Fund may fail to so qualify. Termination shall be effective immediately upon notice to the Trust; (k) At the option of the Company in the event that any Fund fails to meet the diversification requirements specified in Article II hereof or if the Company reasonably believes that any Fund may fail to meet such diversification requirements. Termination shall be effective immediately upon notice to the Trust; and (l) In the event this Agreement is assigned without the prior written consent of the Company, the Trust, the Distributor and the Adviser, termination shall be effective immediately upon such occurrence without notice. 10.3. Notwithstanding any termination of this Agreement pursuant to Section 10.2 hereof, the Trust shall, at the option of the Company, continue to make available additional Fund shares, as provided below, for so long as the Company desires pursuant to the terms and conditions of this Agreement, for all Variable Contracts in effect on the effective date of termination of this Agreement (“Existing Contracts”). Specifically, without limitation, if the Company so elects to make additional Fund shares available, the owners of the Existing Contracts or the Company, whichever shall have legal authority to do so, shall be permitted to reallocate investments in the Trust, redeem investments in the Trust and/or invest in the Trust upon the payment of additional premiums under the Existing Contracts. In the event of a termination of this Agreement, the Company, as promptly as is practicable under the circumstances, shall notify the Trust, the Distributor and the Adviser whether the Company elects to continue to make Fund shares available after such termination. If Fund shares continue to be made available after such termination, the provisions of this Agreement shall remain in effect. 10.4. Except as necessary to implement Variable Contract owner initiated transactions, or as required by state insurance laws or regulations, the Company shall not redeem the shares attributable to the Variable Contracts (as opposed to the shares attributable to the Company’s assets held in the Separate Accounts or invested directly), and the Company shall not prevent Variable Contract owners from allocating payments to a Fund that was otherwise available under the Variable Contracts, until thirty (30) days after the Company shall have notified the Trust of its intention to do so.

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