Termination by the Trustee Sample Clauses
The 'Termination by the Trustee' clause grants the trustee the authority to end the agreement or trust arrangement under specified circumstances. Typically, this clause outlines the conditions under which the trustee may exercise this right, such as breaches by other parties, insolvency, or fulfillment of the trust's purpose. By clearly defining when and how the trustee can terminate the arrangement, this clause ensures that the trustee has a mechanism to protect the trust's interests and resolve situations where continuing the arrangement is no longer viable or appropriate.
Termination by the Trustee. Each Loan made hereunder shall be a demand loan. The Trustee may at any time terminate any Loan, in whole or in part, by giving the Borrower oral notice of such termination, whereupon such Loan, or the portion thereof being terminated, shall become due on the date specified in such notice unless it shall become due sooner pursuant to paragraph 10 hereof. The date so specified shall be not less than: (i) in the case of a Loan of U. S. Government Securities, one New York Business Day subsequent to the giving of such notice; and (ii) in the case of a Loan of any other Loaned Securities (unless otherwise agreed by the parties hereto as evidenced in the confirmation relating to a Loan), the lesser of five days or the standard market settlement time in the principal market in which the Loaned Securities are traded. For purposes of clause (ii), if there is a difference between the settlement time for sales and purchases in the applicable market, the standard market settlement time for such market for purposes of this §9(b) shall be the shorter of the two times. The Borrower hereby unconditionally promises to redeliver the Loaned Securities that are the subject of any Loan so terminated to the Trustee through the same delivery means as the Loaned Securities were delivered by the Trustee to the Borrower, on the date so specified with respect to such Loan, which shall be within the same timeframe as applicable to the delivery of the Loaned Securities by the Trustee to the Borrower.
Termination by the Trustee. The Trustee may, in its sole discretion, terminate a Fund or a Series of a Fund at any time by giving written notice as set out in Section 13.2 to the Unitholders, if any, of such Fund or Series of Units not less than 60 days prior to the date when such termination shall take effect. Such termination shall take effect on the date specified in such notice.
Termination by the Trustee. Except for Section 7.4 and Section 7.5 which shall continue in any event, this Agreement may be terminated by the Trustee if the Manager fails to materially comply with the terms of this Agreement and such failure remains unremedied for a period of 30 days after notice of such failure has been given by the Trustee to the Manager describing such failure in detail and referring to this Section 8.1.
Termination by the Trustee. This Agreement may be terminated by the Trustee on the occurrence of any of the following events (each a "Trustee Termination Event"), by delivering written notice of the occurrence of such event in accordance with Section 15 below to the other Parties:
(a) the entry of an order or orders by the Bankruptcy Court confirming the Joint Plan pursuant to section 1129 of the Bankruptcy Code shall not have occurred by the date that is twelve (12) months after the date of this Agreement;
(b) the effective date of the Joint Plan shall not have occurred by the date that is eighteen (18) months after the date of this Agreement;
(c) the Bankruptcy Case shall have been converted to a case under chapter 7;
(d) the terms of the Joint Plan and the exhibits and any supplements thereto, not otherwise set forth on the Joint Plan attached hereto as Exhibit A, are inconsistent with the terms set forth in Exhibit A; or
(e) Any HHI Party shall materially breach any of its obligations under this Agreement under the terms of the Joint Plan, or under any agreement entered into by such HHI party in connection with the proposal, confirmation, or implementation of the Joint Plan.
Termination by the Trustee. Each Loan made hereunder shall be a demand loan. The Trustee may at any time terminate any Loan, in whole or in part, by giving the Borrower oral notice of such termination, whereupon such Loan, or the portion thereof being terminated, shall become due on the date specified in such notice unless it shall become due sooner pursuant to paragraph 10 hereof. The date so specified shall be as agreed between the Trustee and the Borrower. The Borrower hereby unconditionally promises to redeliver the Loaned Securities that are the subject of any Loan so terminated to the Trustee through the same delivery means as the Loaned Securities were delivered by the Trustee to the Borrower, on the date so specified with respect to such Loan, which shall be within the same timeframe as applicable to the delivery of the Loaned Securities by the Trustee to the Borrower.
Termination by the Trustee. The Trustee may elect to terminate the Agreement if within thirty (30) days after its resignation or removal pursuant to Article XI the Employer has not appointed a successor Trustee which has accepted such appointment. Termination of the Agreement shall be effected by distributing all assets thereof to the Participants or other persons entitled thereto pursuant to the direction of the Administrator (or in the absence of such direction, as determined by the Trustee) as provided in Article VII of the Plan, subject to the Trustee's right to reserve Trusts as provided in Article XI hereof. Upon the completion of such distribution, the Trustee shall be relieved from all further liability with respect to all amounts so paid, other than any liability arising out of the Trustee's willful misconduct or lack of good faith.