Termination of Covenant. The Company's obligation to deliver the information required under subsections (c) and (d) above shall terminate upon the date on which the Company is required to file a report with the SEC pursuant to Section 13(a) or 1 5(d) of the Exchange Act by reason of (i) the Company's having registered any of its securities pursuant to Section 12 of the Exchange Act or (ii) a registration statement filed by the Company under the Securities Act having become effective.
Termination of Covenant. If on [***] Covenant shall immediately terminate without any action on the part of [***]. Each such date of such termination is referred to herein as a “Covenant Termination Date”. In the event [***]. During any period in which [***] shall have the right to (i) [***] and (ii) [***].
Termination of Covenant. Upon Altair's issuance of the Shares, Section 5(d) of the Employment Agreement dated January 1, 1998 (the "Employment Agreement") shall immediately and automatically terminate. Except for the termination of Section 5(d) of the Employment Agreement, the Employment Agreement shall continue to be valid, effective and binding according to its terms following the execution of this Agreement.
Termination of Covenant. The covenants set forth in this Section 4 shall terminate and be of no further force or effect upon the consummation of (i) an IPO, (ii) a Direct Listing or (iii) a Deemed Liquidation Event.
Termination of Covenant. Notwithstanding anything herein to the contrary, and except with respect to the provisions of Section 6.04 above, which shall terminate one hundred twenty (120) days from the date hereof, the provisions of Section 6 hereof shall terminate and shall cease to be effective upon the consummation of a public offering of Common Stock registered under the Securities Act; provided, however, that the provisions of Sections 6.01 and 6.02 shall remain effective to the extent that the Company's counsel advises is not in violation of any applicable securities laws.
Termination of Covenant. Notwithstanding any provision in this Covenant to the contrary, and provided that this Section 6.2 applies only to transfers of title to lenders to which this Covenant is subordinate according to Section 9, all of the provisions of this Covenant shall terminate and have no further force and effect upon the occurrence of one of the following events as noted in sections 6.2.1, 6.2.2, and 6.2.3:
6.2.1 Title to subject property is acquired by HUD/FHA, Veterans Administration (“VA”), Federal National Mortgage Association (“FNMA”), Federal Home Loan Mortgage Corporation (“FHLMC”) or another party upon foreclosure of a deed of trust or mortgage insured, made or held by HUD/FHA, VA, FNMA, FHLMC or an institutional lender or an institutional investor which is neither a natural person nor directly or indirectly related to or affiliated with Owner or Owner’s successors in interest (an “Institutional Lender”).
6.2.2 Title to the subject property is acquired by HUD/FHA, VA, FNMA, FHLMC or another party by deed in lieu of foreclosure of a deed of trust or mortgage insured, made or held by HUD/FHA, VA, FNMA, FHLMC or an institutional lender or an institutional investor which is neither a natural person nor directly or indirectly related to or affiliated with Owner or Owner's successors in interest.
6.2.3 A deed of trust insured by HUD/FHA on the subject property is assigned to HUD/FHA.
Termination of Covenant. If an Operating Shareholder's employment by Buyer shall be terminated for any reason other than (a) his voluntary termination under Section 4.3.4 of his Employment Agreement, (b) a Cause Termination under Section 4.3.1 of his Employment Agreement, or (c) his disability under Section 4.3.5 of his Employment Agreement, the Covenant Not to Compete shall terminate as to such Operating Shareholder six months following the date of such termination of his employment provided he shall have received payment of Severance Pay (as defined in Section 6.2 of his Employment Agreement) during such six-month period; if such Operating Shareholder shall not have received the full Severance Pay during such six-month period, the Covenant Not to Compete shall terminate as of the latest date of payment of Severance Pay or Salary (as defined in Section 5.1 of his Employment Agreement), as the case may be.
Termination of Covenant. Notwithstanding anything herein to the contrary, the provisions of Section 7.02 hereof shall terminate and shall cease to be effective upon the consummation of a public offering of Common Stock registered under the Securities Act with an aggregate gross offering price to the public (prior to deduction of expenses, underwriter's commissions, etc.) of at least $2,500,000.
Termination of Covenant. At any time that Seller elects to terminate the Services Agreement, as provided therein, Seller shall have the right to terminate the provisions of this Article 5 upon payment to Buyer of the amount of Ten Million Dollars ($10,000,000) in immediately available funds, in addition to any payment due under the Services Agreement.
