Termination by the Trust for Cause Sample Clauses

Termination by the Trust for Cause. At the option of the Trust and at any time during the term of this Agreement, this Agreement shall be and become terminated upon at least 30 days’ prior written notice of termination from the Board of Trustees to the Manager, without payment of the Termination Fee, if any of the following events shall occur, which shall be determined by a majority of the Independent Trustees: (i) the Manager shall materially breach any provision of this Agreement and such breach shall continue for a period of 30 days after the Manager’s receipt of written notice thereof specifying such breach and requesting that the same be remedied in such 30-day period (or 45 days after the Manager’s receipt of written notice of such breach if the Manager takes steps to cure such breach within 30 days of the written notice); (ii) the Manager shall commit any act of fraud, misappropriation of funds, or embezzlement against the Trust or any Subsidiary; (iii) the Manager shall commit any act of gross negligence in the performance of its duties under this Agreement; (iv) upon the commencement of any proceeding relating to the Manager’s Bankruptcy or insolvency; (v) upon the dissolution of the Manager; (vi) upon a Change in Control of the Manager; (vii) the termination of the MBS Agreement for “cause” thereunder; or (viii) the Manager is unable under applicable law or regulation to perform its obligations under this Agreement. If any of the events specified above shall occur, the Manager shall give prompt written notice thereof to the Board of Trustees. The Board of Trustees may exercise its right to terminate the Manager as provided in this Section 13 for a period of 60 days following receipt of such notice.
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Termination by the Trust for Cause. The Trust may terminate the Executive’s employment under this Agreement at any time for Cause, upon written notice by the Trust to the Executive. For purposes of this Agreement, “Cause” for termination shall mean any of the following: (i) the conviction of the Executive of, or the entry of a plea of guilty or nolo contendere by the Executive to, any felony; (ii) fraud, misappropriation or embezzlement by the Executive; (iii) the Executive’s willful failure or gross negligence in the performance of his assigned duties for the Company Group, which failure or negligence continues for more than fifteen (15) calendar days following the Executive’s receipt of written notice of such willful failure or gross negligence; (iv) the Executive’s breach of any of his fiduciary duties to the Company Group; (v) any act or omission of the Executive that has a demonstrated and material adverse impact on the Company Group’s reputation for honesty and fair dealing; or (vi) the breach by the Executive of any material term of this Agreement.
Termination by the Trust for Cause. This Agreement may be terminated by the Trust as to any Fund immediately upon notice to each other party in the event that (a)VALIC becomes unable for any reason to perform the services contemplated by this Agreement, or (b) the performance by VALIC of the services contemplated by this Agreement becomes in the Trust's reasonable judgment unlawful or ceases to satisfy the Trust's reasonable standards and so becomes unacceptable to the terminating party.

Related to Termination by the Trust for Cause

  • Termination by the Bank for Cause After the occurrence of any of the conditions specified in Section 7.1, the Bank shall have the right to terminate the Term for Cause on written notice to Executive, effective immediately.

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