Termination by the Manager for Cause. (a) At the option of the Manager and at any time during the term of this Agreement, this Agreement shall be and become terminated upon at least 60 days’ prior written notice of termination from the Manager to the Trust and the Operating Partnership, with payment of the Termination Fee, if the Trust or the Subsidiaries shall have defaulted in the performance of any material term of this Agreement, and such default has continued uncured for a period of 30 days after the Trust’s and the Operating Partnership’s receipt of written notice of such default from the Manager.
(b) At the option of the Manager and at any time during the term of this Agreement, this Agreement shall be and become terminated, without payment of the Termination Fee, if the Trust becomes required to register as an investment company under the Investment Company Act, with such termination deemed to occur immediately before such event.
Termination by the Manager for Cause. (a) The Manager may terminate this Agreement effective upon 60 days’ prior written notice of termination to the Company in the event that the Company shall default in the performance or observance of any material term, condition or covenant contained in this Agreement and such default shall continue for a period of 30 days after written notice thereof specifying such default and requesting that the same be remedied in such 30-day period. The Company is required to pay to the Manager the Termination Fee if the termination of this Agreement is made pursuant to this Section 14(a).
(b) The Manager may terminate this Agreement if the Company becomes required to register as an investment company under the Investment Company Act, with such termination deemed to occur immediately before such event, in which case the Company shall not be required to pay the Termination Fee.
Termination by the Manager for Cause. This Agreement may be terminated by the Manager immediately by notice served on the Company if at any time:
(a) the Company commits a material breach of its obligations under the Stock Purchase and Subscription Agreement, this Agreement or any other Ancillary Agreement (as defined in the Stock Purchase and Subscription Agreement) or HVB commits a material breach of the Stock Purchase and Subscription Agreement and, in the case of a breach capable of remedy, fails to remedy such breach within 7 days of being specially required in writing to do so by the Manager;
(b) the Company engages in fraud or dishonesty or any act involving moral turpitude, provided that such fraud, dishonesty or act -------- does not, directly or indirectly, result from, arise out of or directly relate to any act or failure to act by the Manager;
(c) the Company loses its authority to carry on an insurance or reinsurance business in Bermuda, provided that such loss does not, -------- directly or indirectly, result from, arise out of or directly relate to any act or failure to act by the Manager;
(d) a distress, execution, sequestration or other process is levied or enforced upon or sued out against the property of HVB or the Company which is not discharged within 10 days;
(e) HVB or the Company is unable to pay its debts in the normal course of business;
(f) HVB or the Company ceases or threatens to cease, wholly or substantially, to carry on its business;
(g) an encumbrancer takes procession of or a receiver or trustee is appointed over the whole or any part of the undertaking, property or assets of HVB or the Company; or
(h) an order is made or a resolution is passed for the winding-up of HVB or the Company.
Termination by the Manager for Cause. § 16.2.1 The Manager may terminate the Contract if the Contractor .1 repeatedly refuses or fails to supply enough properly skilled workers or proper materials;
