Termination of Status as an Originator Sample Clauses

Termination of Status as an Originator. (a) At any time when two or more Originators are parties hereto, an Originator may terminate its obligations as an Originator hereunder (each such Originator, a "Terminating Originator") if: (i) such Terminating Originator shall have given CRLLC and the Operating Agent not less than 60 days' prior written notice of its intention to terminate; (ii) (A) an Authorized Officer of the Terminating Originator shall have certified to CRLLC, and (B) an Authorized Officer of CRLLC shall have certified to the Operating Agent, that the termination by the Terminating Originator of its status as an Originator will not have a Material Adverse Effect; (iii) both immediately before and after giving effect to the termination by the Terminating Originator, no Incipient Termination Event or Termination Event shall have occurred and be continuing or shall reasonably be expected to occur as a result of such termination; (iv) both immediately before and after giving effect to the termination by the Terminating Originator, no Purchase Excess shall exist; and (v) CRLLC shall have consented, in writing, to the termination of the obligations of such Terminating Originator hereunder and delivered to the Operating Agent the Officer's Certificate of such Terminating Originator identified in clause (a)(ii)(A) above. (b) An Originator's right and obligation to sell its Receivables to CRLLC shall terminate immediately if such Originator ceases to be a Subsidiary or Affiliate of Cone Xxxxx; provided, that any such termination shall not relieve such Originator of obligations that relate to Transferred Receivables originated by, or obligations of, such Originator prior to the effective date of such termination, including any and all obligations of such Originator to CRLLC under Sections 4.02(o), 4.04, 5.01 and 8.14.
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Termination of Status as an Originator. (a) At any time when more than one Person is an Originator, an Originator may terminate its obligations as an Originator hereunder if: (i) the Originator (a "Terminating Originator") shall have given MCF and its assigns not less than 60 days' prior written notice of its intention to terminate, (ii) an Authorized Officer of the Terminating Originator shall have certified that the termination by the Terminating Originator of its status as an Originator will not have a material adverse effect on the business, financial condition or operations of MCF, and (iii) both immediately before and after giving effect to the termination by the Terminating Originator, no Termination Event shall have occurred and be continuing or shall reasonably be expected to occur as a result of such termination. Any termination by an Originator shall become effective on the first Business Day that follows the day on which the requirements of clauses (a)(i) through (iii) shall have been satisfied (or such later date specified in the notice or certificate referred to in the clauses). Any termination by an Originator shall terminate its rights and obligations hereunder; provided, however, that the termination shall not relieve the Terminating Originator of obligations which relate to Transferred Receivables originated by or obligations of the Terminating Originator prior to the effective date of the termination. (b) An Originator's right and obligation to sell its Receivables to MCF shall terminate immediately if the Originator ceases to be a Subsidiary or Affiliate of the Parent; provided, however, that the termination shall not relieve the Originator of obligations which relate to Transferred Receivables originated by or obligations of the Originator prior to the effective date of the termination. -4-
Sample 1
Termination of Status as an Originator. Any Sub-Originator may, upon ten (10) Business Days prior written notice to the Parent, the Buyer and the Administrative Agent, irrevocably terminate its right and obligation to sell Receivables to Parent pursuant to this Agreement if the Buyer consents to such termination and the conditions to such consent set forth in Clause 11.14 (Limitations on the Addition and Termination of Originators) of the Receivables Loan Agreement are satisfied, in which case the Termination Date shall occur as of the end of the Calculation Period in which such notice period expires with respect to such Sub-Originator on the date specified by such Originator; provided, however, that, for the avoidance of doubt, (i) Section 7.02 (Effect of Termination Date) shall apply; and (ii) Parent may not terminate its right and obligation to sell or contribute Receivables hereunder unless the Termination Date shall have occurred with respect to all Sub-Originators.
Sample 1
Termination of Status as an Originator. An Originator -------------------------------------- may terminate its obligation to sell its Receivables to the Buyer at any time if such Originator (a "Terminating Originator") shall have given the Buyer not less ---------------------- than 30 days' prior written notice of such Originator's intention to terminate such obligations. Any termination by an Originator pursuant to this Section shall terminate such Originator's right and obligation to sell Receivables hereunder to the Buyer and the Buyer's agreement, with respect to such Originator, to purchaser such Receivables; provided, however, that such -------- ------- termination shall not relieve such Originator of any of its other obligations hereunder to the extent such obligations relate to Receivables originated by such Originator prior to the effective date of such termination.
Sample 1

Related to Termination of Status as an Originator

  • Forfeiture upon Termination of Status as a Service Provider Notwithstanding any contrary provision of this Award Agreement, the balance of the Restricted Stock Units that have not vested as of the time of Participant’s termination as a Service Provider for any or no reason and Participant’s right to acquire any Shares hereunder will immediately terminate.

  • Termination of Continuous Service Except as otherwise provided in this Section 3, the unvested portion of the award shall be forfeited as of the date (the “Termination Date”) that the Grantee actually ceases to provide services to the Company or any Affiliate in any capacity of Employee, Director or Consultant (irrespective of whether the Grantee continues to receive severance or any other continuation payments or benefits after such date) (such cessation of the provision of services by Grantee being referred to as “Service Termination”). A Service Termination shall not occur and Continuous Service shall not be considered interrupted in the case of (i) any approved leave of absence, (ii) transfers among the Company, any Subsidiary or Affiliate, or any successor, in any capacity of Employee, Director or Consultant, or (iii) any change in status as long as the individual remains in the service of the Company or a Subsidiary or Affiliate in any capacity of Employee, Director or Consultant.

  • Termination of Contract for Cause 5.1.1 If A-E breaches any of the covenants or conditions of this CONTRACT, COUNTY shall have the right to terminate this CONTRACT upon ten (10) days written notice prior to the effective day of termination. 5.1.2 A-E shall have the opportunity to cure the alleged breach prior to termination. 5.1.3 In the event the alleged breach is not cured by A-E prior to termination, all work performed by A-E pursuant to this CONTRACT, which work has been reduced to plans or other documents, shall be made available to COUNTY.

  • Termination on Death or Disability If the employment of the Executive is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: (i) The Accrued Obligations, at the times provided and subject to the conditions set forth in Section 8(a)(i) above; (ii) An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the Executive’s death or such termination of employment due to Disability; (iii) Any and all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and (iv) If the Executive is eligible for and elects to receive continued coverage under the Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability (or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company.

  • 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 Relationship If Optionee terminates Continuous Status as an Employee or Consultant for any reason, Optionee may exercise this Option during the Termination Period set out in the Notice of Grant, to the extent the Option was vested at the date of such termination. To the extent that Optionee was not vested in this Option at the date on which Optionee terminates Continuous Status as an Employee or Consultant, or if Optionee does not exercise this Option within the time specified herein, the Option shall terminate.

  • Effect of Termination of Service Except as otherwise provided in accordance with Section 4(b) above, if you cease to be a Service Provider, you will forfeit all unvested Units.

  • Termination of Service for Cause Upon a termination of the Participant’s Service by the Company for Cause the Option, including the Vested Portion, shall immediately terminate and be forfeited without consideration.

  • Termination in the Event of Death or Disability This Agreement shall terminate in the event of death or disability of Executive. (a) In the event of Executive's death, Ceridian shall pay an amount equal to 12 months of Base Salary at the rate in effect at the time of Executive's death plus the amount Executive would have received in annual incentive plan bonus for the year in which the death occurs had "target" goals been achieved. Such amount shall be paid (1) to the beneficiary or beneficiaries designated in writing to Ceridian by Executive, (2) in the absence of such designation to the surviving spouse, or (3) if there is no surviving spouse, or such surviving spouse disclaims all or any part, then the full amount, or such disclaimed portion, shall be paid to the executor, administrator or other personal representative of Executive's estate. The amount shall be paid as a lump sum as soon as practicable following Ceridian's receipt of notice of Executive's death. All such payments shall be in addition to any payments due pursuant to Section 4.04(c) below. (b) In the event of Executive's disability, Base Salary shall be terminated as of the end of the month in which the last day of the six-month period of Executive's inability to perform his or her duties occurs. (c) In the event of termination by reason of Executive's death or disability, Ceridian shall pay to Executive any amount equal to (1) the amount Executive would have received in annual incentive plan bonus for the year in which termination occurs had "target" goals been achieved, multiplied by (2) a fraction, the numerator of which shall be the number of whole months Executive was employed in the year in which the death or disability occurred and the denominator of which is 12. The amount payable pursuant to this Section 4.04(c) shall be paid within 15 days after the date such bonus would have been paid had Executive remained employed for the full fiscal year.

  • Termination of Service Relationship If the Optionee’s Service Relationship terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below.

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