Termination of the Scheme Sample Clauses

Termination of the Scheme. 9.2.1 This Scheme shall automatically terminate if: (a) the Effective Time does not occur on or before the Longstop Date; (b) LFSL does not pay the Initial LFSL Contribution to the Settlement Account on or before the Initial LFSL Contribution Deadline; (c) the Parent does not pay the Initial Parent Contribution to the Settlement Account on or before the Initial Parent Contribution Deadline; or (d) except where Schedule 4 (Continuity of payments to Scheme Creditors) applies, the Initial Settlement Account Distribution is not paid from the Settlement Account to the WEIF by the Initial Settlement Distribution Date. 9.2.2 With immediate effect on and from the Termination Date: (a) the Trust shall be dissolved; (b) LFSL will hold all amounts standing to the credit of the Settlement Account on trust for the Parent, the Insurers and LFSL. (c) the Standstill Period will cease and Scheme Creditors will be free to commence or continue Proceedings against: (i) LFSL, in respect of the Scheme Claims; and (ii) any of the Released Parties in respect of the Released Claims; (d) LFSL shall promptly repay amounts standing to the credit of the Settlement Account at the time of the Termination Date to the parties who contributed the funds to the Settlement Account (in proportion to that party's actual contribution to the amounts standing to the credit of the Settlement Account at the Termination Date), being: (i) the Parent, in respect of the Parent Contributions; (ii) the Insurers, in respect of the Insurance Proceeds; and (iii) LFSL, in respect of the Initial LFSL Contribution and any other contributions it made to the Settlement Account prior to the Termination Date; (e) the trust over the BTA Reserve Amount (as established pursuant to Clause 4.8.2 (BTA Reserve Amount)) shall be dissolved with immediate effect; and (f) LFSL shall notify the Scheme Creditors and the Scheme Supervisors of the Scheme's termination and the Termination Date by: (i) posting a notice to this effect on the Website; and (ii) placing advertisements to this effect in the Times, the Telegraph and the Daily Mail. 9.2.3 Except where Clause 9.2.1 (Termination of the Scheme) applies, the Scheme shall not terminate if an Insolvency Event occurs in relation to LFSL, the Parent, the WEIF or any other person.
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Termination of the Scheme. (a) A participating Employee may terminate the operation of the scheme by giving at least two (2) weeks’ notice. In such case the period of leave purchased thus far shall be calculated and be made available for the Employee to take at the requisite reduced wage rate or salary.
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Termination of the Scheme. 15.1 On the termination of the Scheme the Trustees shall subject to: 15.1.1 meeting out of the Fund all costs charges and expenses of or incidental to the administration and the termination of the Scheme which in the opinion of the Trustees may not be recoverable from the Employers and any tax for which the Trustees may be accountable; and 15.1.2 repaying and paying interest on and the expenses in connection with any moneys borrowed for the purposes of the Scheme; and 15.1.3 completing the application of any lump sum benefit which has become payable in accordance with the provisions of Rule 15 on the death of a Member prior to such termination wind up the Fund by applying the assets thereof in the manner hereinafter prescribed. 15.2 The Trustees shall apply the Voluntary Contributions Fund so far as the same may be available in the provision for and in respect of each of the Members who have paid voluntary contributions and who have not retired of such benefits as the Trustees shall determine to be appropriate having regard to the portion of the Voluntary Contributions Fund which they determine to be attributable to voluntary contributions paid by the Member and to any decision by the Trustees pursuant to sub-Clause 2.4 to maintain a segregated fund within the Voluntary Contributions Fund in respect of the Member and to such arrangements as the Trustees shall have made with the Member and such wishes as he shall have notified to the Trustees as to the benefits to be provided under the Scheme by his voluntary contributions and such Members shall (except to the extent that a segregated fund has been maintained in respect of any Member as aforesaid) rank pari passu among themselves in relation to such benefits. 15.3 Subject to the foregoing provisions of this Clause the Trustees shall apply the remaining assets in the Fund towards satisfying (to the extent not already satisfied) the outstanding liabilities of the Scheme in accordance with Section 73 of the Pensions Act. Thereafter any remaining assets in the Fund shall be applied in so far as the same may be available in the following order of priority: FIRST In securing (in so far as the Trustees have not already done so) the payment of: (i) immediate annuities for those persons who are in receipt of pensions under the Scheme equal to such pensions; (ii) immediate annuities for those persons whose retirement on pension has been deferred beyond Normal Pension Date equal to the pensions to which such persons w...
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Termination of the Scheme. 11.1. The Operator may terminate the Scheme at the end of the Compliance Period on giving 90 days’ notice to 11.1. Members remain under an obligation to pay all sums due under the Scheme and must pay all final invoices within 30 days of the date of invoice and penalties for late payment shall continue to apply under clause 11.1. Members shall keep records referred to in the Regulations and provided to the Operator in accordance with this Agreement for a period of at least four years starting from which any such record is made and shall be made available to the Operator on demand. 11.1. The Operator will have no liability to Members after termination.
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Termination of the Scheme. The Scheme may be terminated if:
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Termination of the Scheme. The Scheme shall terminate on the tenth anniversary of the date on which it is approved by the Board of the Inland Revenue or at any earlier time by the passing of a resolution by the Directors. Termination of the Scheme shall be without prejudice to the subsisting rights of Option Holders.
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Termination of the Scheme. If the Scheme is terminated prior to the Payment Date, SchemeCo shall pay to PFG, as soon as possible, all amounts standing to the credit of the PFG Fund.
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Related to Termination of the Scheme

  • Termination of the Plan Any other provi- sion of this plan to the contrary notwith- standing, no benefit will be paid for charges incurred by a participant or former par- ticipant after the termination of this plan.

  • Termination of the Lease The parties agree that the Management Agreement and the rights and benefits of Manager thereunder shall not be terminated or disturbed in any respect except in accordance with the terms of the Management Agreement, and not as a result of any termination of the Lease. Accordingly, if the Lease is terminated for any reason, including, without limitation, expiration of the term thereof or the "rejection" thereof following Bankruptcy (a) shall recognize Manager's rights under the Management Agreement, (b) agrees that Manager shall not be named as a party in any eviction or other possessory action or proceeding, and that Manager shall not be disturbed in its right to manage the Inn pursuant to the Management Agreement, and (c) shall at the time of or prior to such Lease Termination either (i) elect not to take either of the actions described in clause (c)(ii) below, in which case all of "Lessee's" rights, benefits, privileges and obligations under the Management Agreement with respect to periods after the Lease Termination shall be assumed directly by Lessor, or (ii) cause an "Approved Lessee" (as defined below) to (x) succeed to and assume Lessee's rights and obligations under the Lease, the Management Agreement, and this Agreement, or (y) enter into a new lease with Lessor in substantially the same form as the Lease, and assume the rights and obligations of the Lessee under the Management Agreement and this Agreement, the intent being that the relationship between any successor Lessee, Lessor and Manager be under the same terms and conditions as the relationship between Lessee, Lessor and Manager hereunder and under the Management Agreement and the Lease. Any successor to Lessee under clause (c)(ii) above shall be subject to Manager's prior written approval, which approval shall not be withheld or delayed if such successor to Lessee is (i) a direct or indirect wholly-owned subsidiary of Lessor, (ii) a person or entity to whom a Sale of the Inn is permitted under Section 10.02.A. of the Management Agreement, or (iii) a person or entity who otherwise is approved by Manager in its sole discretion (an "Approved Lessee").

  • Termination of Therapy Therapist reserves the right to terminate therapy at his/her discretion. Reasons for termination include, but are not limited to, untimely payment of fees, failure to comply with treatment recommendations, conflicts of interest, failure to participate in therapy, Patient needs are outside of Therapist’s scope of competence or practice, or Patient is not making adequate progress in therapy. Patient has the right to terminate therapy at his/her discretion. Upon either party’s decision to terminate therapy, Therapist will generally recommend that Patient participate in at least one, or possibly more, termination sessions. These sessions are intended to facilitate a positive termination experience and give both parties an opportunity to reflect on the work that has been done. Therapist will also attempt to ensure a smooth transition to another therapist by offering referrals to Patient.

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Termination of the Option The Option shall terminate and may no longer be exercised after the first to occur of (a) the close of business on the Option Expiration Date, (b) the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or (c) a Change in Control to the extent provided in Section 8.

  • Termination of the Company Upon the voluntary termination of the Company upon the consent of the Members, the sale or other transfer of all or substantially all of the Company's assets or any other termination of the Company in accordance with the provisions of this Agreement, the Company shall wind up its affairs and shall then be liquidated as provided in Article 13.

  • Termination of the Contract 1. The Contractor may terminate the contract if the Partner has inadequately discharged or failed to discharge any of the contractual obligations, insofar as this is not due to force majeure, after notification of the Partner by registered letter has remained without effect for one month. 2. The Partner shall immediately notify the Contractor, supplying all relevant information, of any event likely to prejudice the performance of this contract.

  • Notification of Termination 22.3.2.1 Upon the occurrence at District's sole determination of any of the above conditions, or upon Developer’s failure to perform any material covenant, condition or agreement in this Facilities Lease, District may, without prejudice to any other right or remedy, serve written notice upon Developer and its Surety of District's termination of this Facilities Lease and/or Developer’s right to perform the Work of this Facilities Lease. This notice will contain the reasons for termination. 22.3.2.2 Unless, within fifteen (15) days after the service of the notice, any and all condition(s) shall cease, and any and all violation(s) shall cease, or arrangement satisfactory to District for the correction of the condition(s) and/or violation(s) be made, this Facilities Lease and the Site Lease shall cease and terminate; provided, however, if the failure stated in the notice cannot be corrected within fifteen (15) days after the service of notice, District may consent to an extension of time, provided Developer instituted and diligently pursued corrective action within the applicable fifteen (15)-day period and until the violation is corrected. Upon District determination, Developer shall not be entitled to receive any further payment until the entire Work is finished. 22.3.2.3 Upon Termination, District may immediately serve written notice of tender upon Surety whereby Surety shall have the right to take over and perform this Facilities Lease only if Surety: 22.3.2.3.1 Within three (3) days after service upon it of the notice of tender, gives District written notice of Surety’s intention to take over and perform this Facilities Lease; and 22.3.2.3.2 Commences performance of this Facilities Lease within three (3) days from date of serving of its notice to District. 22.3.2.4 Surety shall not utilize Developer in completing the Project if the District notifies Surety of the District’s objection to Developer’s further participation in the completion of the Project. Surety expressly agrees that any developer which Xxxxxx proposes to fulfill Surety’s obligations is subject to District’s approval. 22.3.2.5 If Surety fails to notify District or begin performance as indicated herein, District may take over the Work and execute the Work to completion by any method it may deem advisable at the expense of Developer and/or its Surety. Developer and its Surety shall be liable to District for any excess cost or other damages the District incurs thereby. Time is of the essence in this Facilities Lease. If the District takes over the Work as herein provided, District may, without liability for so doing, take possession of and utilize in completing the Work all materials, appliances, plan, and other property belonging to Developer as may be on the Site of the Work, in bonded storage, or previously paid for.

  • Termination of 401(k) Plan At Parent’s written request, delivered no later than fifteen (15) days prior to the Closing, the Company shall terminate the Furmanite Corporation 401(k) Savings and Investment Plan (the “Company 401(k) Plan”) effective immediately prior to the Closing Date and contingent upon the occurrence of the Closing, and upon such termination, shall cease all further contributions to the Company 401(k) Plan for pay periods beginning on and after the Closing Date and, to the extent the Company 401(k) Plan provides for loans to participants, and upon such termination, shall cease making any such additional loans effective immediately prior to the Closing Date. If Parent does not instruct the Company to terminate the Company 401(k) Plan, nothing herein shall be deemed to prevent the Surviving Corporation or Parent from terminating the Company 401(k) Plan following the Closing in accordance with applicable Law. In the event that Parent instructs the Company to terminate the Company 401(k) Plan, (a) prior to the Closing Date and thereafter (as applicable), the Company and Parent shall take any and all action as may be required, including amendments to the Company 401(k) Plan and/or the corresponding 401(k) plan sponsored or maintained by Parent or one of its Subsidiaries (the “Parent 401(k) Plan”) to comply with applicable Law, (b) subject to the receipt of a favorable IRS determination letter with respect to the termination of the Company 401(k) Plan, to permit each employee of the Company and its Subsidiaries who continues to be employed by Parent or its Subsidiaries (including, for the avoidance of doubt the Surviving Corporation and its Subsidiaries) immediately following the Effective Time (each, a “Continuing Employee”) to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code, including of loans) in cash or notes (in the case of loans) in an amount equal to the eligible rollover distribution portion of the account balance distributable to such Continuing Employee from the Company 401(k) Plan to the corresponding Parent 401(k) Plan, and (c) upon any termination of the Company 401(k) Plan in accordance with this Section 6.03, the Continuing Employees shall be eligible to participate, effective as of the Effective Time, in the Parent 401(k) Plan.

  • Termination by the State The State or commissioner of Administration may cancel this Professional and Technical Services Master Contract and any Work Authorizations at any time, with or without cause, upon 30 days’ written notice to the Contractor. Upon termination, the Contractor will be entitled to payment, determined on a pro rata basis, for services satisfactorily performed.

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