Common use of Termination and Survival of Obligations Clause in Contracts

Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Bank to make payments of any vested benefits provided hereunder or the obligations of Executive under Sections 8, 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 11.

Appears in 6 contracts

Samples: Employment Agreement (Bay Banks of Virginia Inc), Employment Agreement (Bay Banks of Virginia Inc), Employment Agreement (Bay Banks of Virginia Inc)

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Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Bank Corporation to make payments of any vested benefits provided hereunder or the obligations of Executive under Sections 8, 9 and 10 of this Agreement. The existence of any claim or cause of action of the Executive against the Corporation, whether predicated on this Agreement (except as otherwise provided in those Sections). To the extent applicableor not, payouts under this Section 7 shall be subject not constitute a defense to the provisions enforcement by the Corporation of Section 11the restrictions, covenants and agreements contained in this Agreement.

Appears in 4 contracts

Samples: Employment Agreement (Middleburg Financial Corp), Employment Agreement (Middleburg Financial Corp), Employment Agreement (Middleburg Financial Corp)

Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Bank Corporation to make payments of any vested benefits provided hereunder or the obligations of Executive under Sections 8, 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 11.

Appears in 3 contracts

Samples: Employment Agreement (Community Bankers Trust CORP), Employment Agreement (Community Bankers Trust CORP), Employment Agreement (Community Bankers Trust CORP)

Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Bank Corporation to make payments of any vested benefits provided hereunder or the obligations of Executive under Sections 8, 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 11Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Middleburg Financial Corp), Employment Agreement (Middleburg Financial Corp)

Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Bank to make payments of any vested benefits provided hereunder or the obligations of Executive under Sections 8, 8 and 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 1110.

Appears in 1 contract

Samples: Employment Agreement (Bay Banks of Virginia Inc)

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Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of the Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either any party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Corporation or the Bank to make payments of any vested benefits provided hereunder or the obligations of the Executive under Sections 8, 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 11.

Appears in 1 contract

Samples: Employment Agreement (Bay Banks of Virginia Inc)

Termination and Survival of Obligations. (a) Notwithstanding the termination of this Agreement or the termination of the Executive’s employment for any reason, the parties shall be required to carry out any provisions of this Agreement which contemplate performance by them subsequent to such termination. In addition, no termination of this Agreement shall affect any liability or other obligation of either party which shall have accrued prior to such termination, including, but not limited to, any liability, loss or damage on account of breach. No termination of employment shall terminate the obligation of the Corporation or the Bank to make payments of any vested benefits provided hereunder or the obligations of the Executive under Sections 8, 9 and 10 of this Agreement (except as otherwise provided in those Sections). To the extent applicable, payouts under this Section 7 shall be subject to the provisions of Section 11.

Appears in 1 contract

Samples: Employment Agreement (Bay Banks of Virginia Inc)

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