Term Termination Remedies Sample Clauses

Term Termination Remedies. A. The Contract shall automatically terminate after final acceptance of the Services and final payment by Elk Ridge; provided that if Elk Ridge decides not to proceed with the repair the Contract shall automatically terminate (i) after return of Elk Ridge Equipment to Elk Ridge or (ii) sale/disposal for scrap of the Elk Ridge Equipment and final payment, if instructed by Elk Ridge pursuant to Section 2(A). Notwithstanding the above, this Section 4 and Sections 2, 6 – 9, 12, 16, and 18 and 21-24 of these Terms shall survive any such termination. B. Elk Ridge may terminate the Contract in whole or in part for convenience at any time on written notice to Seller. If Elk Ridge terminates prior to deciding to proceed with the repair, Elk Ridge shall compensate Seller for the cost incurred by Seller to teardown and inspect Elk Ridge Equipment through the effective date of termination. If Elk Ridge terminates after deciding to proceed with the repair, Elk Ridge shall compensate Seller for the cost incurred by Seller to teardown, inspect, and repair Elk Ridge Equipment through the effective date of termination. Upon receipt of notice of termination, Seller shall promptly return Elk Ridge Equipment to the location specified by Elk Ridge, at Elk Ridge’s expense. C. Elk Ridge may terminate the Contract in whole or in part if Seller defaults in the performance of the Services or breaches any provision in the Contract and: (i) Seller does not cure such default or breach after written notice from Elk Ridge within a reasonable time as determined by Elk Ridge or (ii) Elk Ridge determines in its reasonable discretion that such default or breach cannot be cured. Seller shall be liable to Elk Ridge for all costs and expenses in connection with such default or breach. Upon receipt of notice of termination for default, Seller shall promptly return Elk Ridge Equipment to the location specified by Elk Ridge, at Seller’s expense. D. Elk Ridge’s rights and remedies in this Section shall not be exclusive and are in addition to any other rights and remedies provided at law or in equity including injunctive relief and specific performance.
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Term Termination Remedies. The term of this Agreement (“Term”) shall commence on the date of this Agreement and end upon the earlier of: (i) notice from DataMi that it is terminating this Agreement, (ii) any breach of this Agreement by Developer, or (iii) the earlier of three (3) months or any shorter period set forth on the signature page or related order form. Upon termination, Developer immediately shall return to DataMi all DataMi Property and discontinue access to and use of the SDK. Sections 2, 3, 6, 7, 8, 9 and 10 shall survive termination. For any violation of this Agreement, DataMi shall have all rights and remedies under this Agreement and under applicable laws.
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Term Termination Remedies. This Agreement shall be in effect for a period commencing on the date of the Agreement and ending on December 31, 2007, unless extended by agreement of the parties. Either Vesta or the Receivership Estates may seek court approval to terminate this Agreement with respect to its ongoing obligations hereunder based upon a default by Xxxxxx in the performance of any of Xxxxxx’ obligations hereunder if the terminating party provides at least 5 business days prior written notice to Xxxxxx and the other party to this Agreement of such terminating party's intent to terminate (in which such notice the terminating party shall specify all alleged defaults by Xxxxxx that are the basis for the termination) and Xxxxxx fails to cure such defaults within such 5 business-day period. Xxxxxx may seek Bankruptcy Court approval on an expedited basis (and the parties hereby consent to expedited consideration by the Bankruptcy Court) to terminate this Agreement as to either Vesta or the Receivership Estates, or both of them, based upon a default by Vesta or the Receivership Estates, or both of them, as the case may be, in the performance of any of its, or their, obligations hereunder if Xxxxxx provides at least 5 business days prior written notice of its intent to terminate (in which such notice Xxxxxx shall specify all alleged defaults that are the basis for the termination) and the defaulting party fails to cure such defaults within such 5 business-day period. In no event shall any party be authorized to recover from the other, on account of such other party's breach of any of the provisions of this Agreement, any punitive, special, exemplary or consequential damages. At the hearing on a termination request, the Bankruptcy Court shall be authorized to impose such terms and conditions on the termination and transition from this Agreement as the Bankruptcy Court deems necessary to protect the interests of Xxxxxx, Xxxxx and the Receivership Estates.
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Term Termination Remedies 
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Related to Term Termination Remedies

  • 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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