Termination Consequences – Second Option Sample Clauses

Termination Consequences – Second Option. If the Second Option is terminated (such date of termination being the "Second Option Termination Date") pursuant to Section 4.05, then Athena shall acquire no Interest, and the First Option Interest shall automatically revert to the Nubian Parties without the need for any further action by Athena.
Sample 1
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Termination Consequences – Second Option. If the Second Option is terminated (the date of such termination being the “Phase II Termination Date”) pursuant to Section 5.5, then: (a) Nevada Lithium will not acquire the Second Option Interest, but shall retain the First Option Interest; (b) the Work Program and Budget approved and in effect prior to the Phase II Termination Date shall be terminated; (c) Nevada Lithium shall be obligated to reimburse the Operator, in cash, as soon as practicable for any Expenditures approved by the Technical Committee and incurred by the Operator (or which the Operator is contractually obligated, on a commercially reasonable basis, to Third Parties to incur) prior to the Phase II Termination Date (including in respect of any remediation expenses payable in respect of such Work Program and Budget) pursuant to the approved Work Program and Budget which has been terminated in accordance with Section 5.6(b). Any amounts owing by Nevada Lithium to the Operator pursuant to this Section 5.6(c) shall first be funded from monies already deposited by Nevada Lithium in the Segregated Account prior to the Phase II Termination Date before Nevada Lithium shall have any obligation to make any payments to the Operator pursuant to this Section 5.6(c); (d) after giving effect to Section 5.6(c), the Operator shall promptly return, or cause to be returned, to Nevada Lithium all remaining monies deposited by Nevada Lithium in the Segregated Account, as at the date immediately prior to the Phase II Termination Date. Notwithstanding any other provision hereof, after the Second Option Exercise Date, Nevada Lithium shall not be entitled to the return of any monies deposited by Nevada Lithium in the Segregated Account on account of the earn-in of the First Option Interest and the Second Option Interest. For greater clarity, after the Second Option Exercise Date and prior to the Third Option Exercise Date, Nevada Lithium shall only be entitled to the return of monies deposited be Nevada Lithium in excess of the aggregate of the First Option Expenditures and the Second Option Expenditures; (e) Nevada Lithium shall deliver to Iconic Subco all records, information and data in respect of the Mineral Rights that existed on the date hereof and that were derived thereafter using Option Expenditures (and, for the avoidance of doubt, Nevada Lithium shall not be required to deliver internal working product and interpretations derived individually by Nevada Lithium in respect of the Mineral Rights) and Ne...
Sample 1

Related to Termination Consequences – Second Option

  • Termination Consequences If this Agreement is terminated for any reason, Company shall not be excused from performing its obligations under this Agreement with respect to payment for all monies due Jabil hereunder including fees, costs and expenses incurred by Jabil up to and including the Termination Effective Date.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • Termination of Merger Agreement This Agreement shall be binding upon Holder upon Holder’s execution and delivery of this Agreement, but this Agreement shall only become effective upon the Closing. Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically terminate and be of no further force or effect.

  • Termination of Existing Tax Sharing Agreements Any and all existing Tax sharing agreements (whether written or not) binding upon the Company shall be terminated as of the Closing Date. After such date neither the Company nor any of its Representatives shall have any further rights or liabilities thereunder.

  • Acceleration Termination of Facilities Terminate the Commitment and declare the principal of and interest on the Loans and the Reimbursement Obligations at the time outstanding, and all other amounts owed to the Lenders and to the Administrative Agent under this Agreement or any of the other Loan Documents (including, without limitation, all L/C Obligations, whether or not the beneficiaries of the then outstanding Letters of Credit shall have presented or shall be entitled to present the documents required thereunder) and all other Obligations (other than Hedging Obligations), to be forthwith due and payable, whereupon the same shall immediately become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each Credit Party, anything in this Agreement or the other Loan Documents to the contrary notwithstanding, and terminate the Credit Facility and any right of the Borrower to request borrowings or Letters of Credit thereunder; provided, that upon the occurrence of an Event of Default specified in Section 12.1(i) or (j), the Credit Facility shall be automatically terminated and all Obligations (other than Hedging Obligations) shall automatically become due and payable without presentment, demand, protest or other notice of any kind, all of which are expressly waived by each Credit Party, anything in this Agreement or in any other Loan Document to the contrary notwithstanding.

  • Termination in Connection with a Change in Control a. For purposes of this Agreement, a “Change in Control” means any of the following events:

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Rights and Obligations Survive Exercise of Warrant Unless otherwise provided herein, the rights and obligations of the Company, of the holder of this Warrant and of the holder of the Shares issued upon exercise of this Warrant, shall survive the exercise of this Warrant.

  • Termination of Existing Agreements Any previous employment agreement between Executive on the one hand and Employer or any of Employer’s Affiliates (as hereinafter defined) on the other hand is hereby terminated.

  • Involuntary Termination in Connection with a Change in Control Notwithstanding anything contained herein, in the event of an Involuntary Termination prior to a Change in Control, if the Involuntary Termination (1) was at the request of a third party who has taken steps reasonably calculated to effect such Change in Control or (2) otherwise arose in connection with or in anticipation of such Change in Control, then the Executive shall, in lieu of the payments described in Section 4 hereof, be entitled to the Post-Change in Control Severance Payment and the additional benefits described in this Section 5 as if such Involuntary Termination had occurred within two (2) years following the Change in Control. The amounts specified in Section 5 that are to be paid under this Section 5(h) shall be reduced by any amount previously paid under Section 4. The amounts to be paid under this Section 5(h) shall be paid within sixty (60) days after the Change in Control Date of such Change in Control.

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