Termination by FMC Sample Clauses

The 'Termination by FMC' clause grants the party identified as FMC the explicit right to end the agreement under specified circumstances. Typically, this clause outlines the conditions or events—such as breach of contract, insolvency, or failure to meet performance standards—that would allow FMC to initiate termination. By clearly defining FMC's termination rights, the clause provides a structured process for ending the contractual relationship, thereby managing risk and ensuring both parties understand the grounds and procedures for early termination.
Termination by FMC. FMC may terminate this Agreement if: (1) The Guaranty Agreement is terminated by reason of a breach thereof by Program Lender; or (2) Program Lender materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; or (3) Program Lender shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, including without limitation a seizure of assets by the FDIC, which proceeding is not dismissed within 60 days after the filing thereof; or (4) the Guaranty Agreement expires or is not renewed or a ▇▇▇▇ Insolvency Event occurs.
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Termination by FMC. This Agreement may be terminated at the option of FMC without charge to FMC upon the occurrence of any of the following: (i) Any of the representations or warranties made in or pursuant to this Agreement are not true or erroneous in any material respect; (ii) The Servicer's failure to perform or observe any of the provisions or covenants of this Agreement in any material respect; (iii) If the Servicer shall (a) discontinue business, or (b) generally not pay its debts as such debts become due, or (c) make a general assignment for the benefit of creditors, or (d) admit by answer, default or otherwise the material allegations of petitions filed against it in any bankruptcy, reorganization, insolvency or other proceedings (whether federal or state) relating to relief of debtors, or (e) suffer or permit to continue unstayed and in effect for thirty (30) consecutive days, any judgement, decree or order, entered by a court of competent jurisdiction, which approves a petition seeking its reorganization or appoints a receiver, custodian, trustee, interim trustee or liquidator for itself or all or a substantial part of its assets, or (f) take or omit any action in order thereby to effect any of the foregoing; In the event of an event of default as set forth in Section 12.2(i) or (ii) above, the Servicer shall have the right to cure any such breach or error to FMC's full satisfaction within one hundred and twenty (120) days of written notice from FMC. In the event FMC fails to cure such default and the Agreement is terminated pursuant to Section 12.2(i), (ii) or (iii), or in the event that this Agreement is terminated pursuant to Section 12.1 as to a given Student Loan when said Student Loan is paid in full, there will be no charge to FMC for Early Termination Fees or Record Return/Deconversion Fees. In the event the Agreement is terminated prior to the end of the initial term for any reason other than stated above, FMC shall be responsible for the payment of Early Termination Fees as detailed in the Fee Schedule.
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Termination by FMC. This Agreement may be terminated at the option of FMC upon the occurrence of any of the following: (a) Any of the representations or warranties made in or pursuant to this Agreement are not true or are erroneous in any material respect; (b) The Servicer’s failure to perform or observe any of the provisions or covenants of this Agreement and its referenced schedules and exhibits, in any material respect (including, without limitation, any breach of the provisions of Section 4.13 (Collections), all of which shall be deemed material); (c) If the Servicer shall (i) discontinue business, or (ii) generally not pay its debts as such debts become due, or (iii) make a general assignment for the benefit of creditors, or (iv) admit by answer, default or otherwise the material allegations of petitions filed against it in any bankruptcy, reorganization, insolvency or other proceedings (whether federal or state), relating to relief of debtors, or (v) suffer or permit to continue unstayed and in effect for thirty (30) consecutive days, any judgment, decree or order, entered by a court of competent jurisdiction, which approves a petition seeking its reorganization or appoints a receiver, custodian, trustee, interim trustee or liquidator for itself or all or a substantial part of its assets, or (vi) take or omit any action in order thereby to effect any of the foregoing;
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Termination by FMC. This Agreement may be terminated by FMC for cause immediately upon notice to EMPLOYEE. FMC shall have cause for termination in the event of: i) A default by EMPLOYEE in the performance of any material provision of this Agreement, and such default continues for a period of thirty (30) days after written notice to EMPLOYEE from EMPLOYER stating the specific default, unless such default is cured to the reasonable satisfaction of EMPLOYER within such thirty (30) day period, or if such failure cannot be cured within thirty (30) days, EMPLOYEE has commenced a good faith effort to cure in which case
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Termination by FMC. FMC may terminate this Agreement if: (1) The Guaranty Agreement [Loan Origination Agreement or Servicing Agreement] is terminated by reason of a breach thereof by Program Lender; or (2) Program Lender materially breaches this Agreement, and fails to cure such material breach, within 60 days of written demand for cure; or (3) Program Lender shall file any proceeding under the U.S. Bankruptcy Code or similar state insolvency act, or shall be the subject of any involuntary bankruptcy proceeding, including without limitation a seizure of assets by the FDIC, which proceeding is not dismissed within 60 days after the filing thereof; or (4) the Guaranty Agreement expires or is not renewed or a TERI Insolvency Event occurs; (5) [Product N▇▇▇] Loan Program volume does not meet Program Year minimums as follows: (i) during the first full Program Year (i.e. ________________), total [Product Name] Conforming Loans that become Seasoned Loans are less than ____________________; (ii) during the second full Program Year, total [Product Name] Conforming Loans that become Seasoned Loans are less than __________________; or (iii) during any subsequent Program Year, total [Product Name] Conforming Loans that become Seasoned Loans are less than _____________________.
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Termination by FMC. This Agreement may be terminated by FMC for cause immediately upon notice to EMPLOYEE. FMC shall have cause for termination in the event of: i) A refusal by EMPLOYEE to perform duties incident to his employment responsibilities, or violation of any written policy of FMC in any material respect or failure to abide by the covenants set forth in Paragraph 3 of this Agreement.
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Termination by FMC. Notwithstanding the provisions set forth in paragraph 2 above, this Agreement may be terminated by FMC for cause immediately upon notice to EMPLOYEE. FMC shall have cause for termination in the event of: 1) A default by EMPLOYEE in the performance of any material provision of this Agreement, and such default continues for a period of thirty (30) days after written notice to EMPLOYEE from EMPLOYER stating the specific default, unless such default is cured to the satisfaction of EMPLOYER within such 30-day period, or if such failure cannot be cured within 30 days, EMPLOYEE has commenced a good faith effort to cure in which case EMPLOYER, within its sole discretion, may extend such period, in which case the notice of termination shall not be effective, and this Agreement shall not be terminated. No severance benefits are due to EMPLOYEE in the event he is terminated for cause.
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Related to Termination by FMC

  • Termination by ▇▇▇▇▇ Subject to Section 5.2, the CAISO may terminate this Agreement by giving written notice of termination in the event that the Participating Load commits any material default under this Agreement and/or the CAISO Tariff which, if capable of being remedied, is not remedied within thirty (30) days after the CAISO has given, to the Participating Load, written notice of the default, unless excused by reason of Uncontrollable Forces in accordance with Article X of this Agreement. With respect to any notice of termination given pursuant to this Section, the CAISO must file a timely notice of termination with FERC, if this Agreement was filed with FERC, or must otherwise comply with the requirements of FERC Order No. 2001 and related FERC orders. The filing of the notice of termination by the CAISO with FERC will be considered timely if: (1) the filing of the notice of termination is made after the preconditions for termination have been met, and the CAISO files the notice of termination within sixty (60) days after issuance of the notice of default; or (2) the CAISO files the notice of termination in accordance with the requirements of FERC Order No. 2001. This Agreement shall terminate upon acceptance by FERC of such a notice of termination, if filed with FERC, or thirty (30) days after the date of the CAISO’s notice of default, if terminated in accordance with the requirements of FERC Order No. 2001 and related FERC orders.

  • Termination by ▇▇▇▇▇▇ This Agreement may be terminated and the Merger Transactions abandoned at any time before the Acceptance Time by Parent: (a) if the Company breaches any of its representations or warranties, or fails to perform any of its covenants or agreements contained in this Agreement, and which breach or failure (i) would give rise to the failure of a condition set forth in paragraph (d), (e) or (f) of Annex I and (ii) by its nature cannot be cured or has not been cured by the Company by the earlier of (A) the Outside Date and (B) the date that is twenty (20) Business Days after the Company’s receipt of written notice of such breach from Parent, but only so long as neither Parent nor Merger Sub are then in material breach of their respective representations or warranties or materially failing to perform their respective covenants or agreements contained in this Agreement in a manner that would allow the Company to terminate this Agreement under Section 7.4(b); or (b) (i) upon prior written notice to the Company if the Company Board (acting upon the recommendation of the Special Committee), the Special Committee or any other duly authorized committee of disinterested members of the Company Board shall have effected an Adverse Recommendation Change (provided that, any written notice, including pursuant to Section 5.3(d), of the Company’s intention to make an Adverse Recommendation Change in advance of making an Adverse Recommendation Change shall not result in Parent having any termination rights pursuant to this Section 7.3(b)(i) unless such written notice otherwise constitutes an Adverse Recommendation Change); provided, however, that Parent shall not be permitted to terminate this Agreement pursuant to this Section 7.3(b)(i) unless the notice of termination pursuant to this Section 7.3(b)(i) is delivered by Parent to the Company within five (5) Business Days following the occurrence of the event giving rise to Parent’s right to terminate this Agreement pursuant to this Section 7.3(b)(i), (ii) if the Company shall have materially breached any of its obligations under Section 5.3, (iii) if the Company shall have failed, within ten (10) Business Days of a tender or exchange offer that constitutes a Takeover Proposal relating to securities of the Company having been commenced, to publicly recommend against such tender or exchange offer or (iv) if the Company shall have failed to publicly reaffirm its recommendation of the Offer and the Merger within ten (10) Business Days after a request to do so by Parent following the date any Takeover Proposal or any material modification thereto is first commenced, publicly announced, distributed or disseminated to the Company’s stockholders (provided that Parent may only make such request once with respect to each Takeover Proposal and each material modification thereto).

  • Termination by XOOM We may terminate this Contract, or the applicable portion of this Contract, at our discretion and without penalty immediately upon notice to you if: a. do not pay your bill in full by the date on your bill; b. do anything that prevents us from supplying you with Energy or services; c. increase your consumption above 2,500 gigajoules per year; or d. do not give us satisfactory financial or credit information, do not give us a deposit when we request one, or do not meet our credit requirements. We may terminate this Contract, or the applicable portion of this Contract, at our direction and without penalty for any other reason on thirty (30) days notice.

  • Termination by ▇▇▇▇▇▇▇ If Grantee seeks to terminate this Contract, Grantee shall give System Agency no less than sixty (60) calendar days prior written notice and shall submit a transition plan to ensure client services are not disrupted.

  • TERMINATION BY MPS MPS further reserves the right to terminate this Contract at any time for any reason by giving Contractor written notice by Registered or Certified Mail of such termination. MPS will attempt to give Contractor 20 days’ notice, but reserves the right to give immediate notice. In the event of said termination, Contractor shall reduce its activities hereunder, as mutually agreed to, upon receipt of said notice. Upon said termination, Contractor shall be paid for all services rendered through the date of termination, including any retainage. This section also applies should the Milwaukee Board of School Directors fail to appropriate additional monies required for the completion of the Contract.