Termination or Discharge Sample Clauses

The 'Termination or Discharge' clause defines the conditions under which a contract or agreement may be ended by either party before its natural expiration. This clause typically outlines the specific events, breaches, or notice requirements that allow one or both parties to terminate their obligations, such as failure to perform, insolvency, or mutual agreement. Its core practical function is to provide a clear and structured process for ending the contractual relationship, thereby reducing uncertainty and potential disputes if circumstances change or obligations are not met.
Termination or Discharge. An employee whose active if terminated by discharge for just cause or voluntary separation by entering military service shall cease to be eligible for any benefits under this Agreement as of the date of except for the provision that Life Insurance continue for thirty-one (31) days under the An employee, had previously been eligible under the Plan, and who returns to active employment layoff or leave of absence should be eligible for all benefits including dependents on the day of to work.
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Termination or Discharge. 5.1 By Employer For Cause, or by Employee for any Reason other than Good Reason in Conjunction With a Control Event. Employer will have the right to immediately terminate Employee’s services and this Agreement for Cause. “Cause” means that any of the following has occurred:
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Termination or Discharge 
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Related to Termination or Discharge

  • No Discharge This Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any limitation, impairment or discharge for any reason (other than payment in full of the Guarantied Obligations), including without limitation the occurrence of any of the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (a) any failure to assert or enforce or agreement not to assert or enforce, or the stay or enjoining, by order of court, by operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy with respect to the Guarantied Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guarantied Obligations, (b) any waiver or modification of, or any consent to departure from, any of the terms or provisions of the Credit Agreement, any of the other Loan Documents, the Lender Swap Agreements or any agreement or instrument executed pursuant thereto, or of any other guaranty or security for the Guarantied Obligations, (c) the Guarantied Obligations, or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect, (d) the application of payments received from any source to the payment of indebtedness other than the Guarantied Obligations, even though Guarantied Party or the other Beneficiaries, or any of them, might have elected to apply such payment to any part or all of the Guarantied Obligations, (e) any failure to perfect or continue perfection of a security interest in any collateral which secures any of the Guarantied Obligations, (f) any defenses, set-offs or counterclaims which Company may assert against Guarantied Party or any Beneficiary in respect of the Guarantied Obligations, including but not limited to failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury, and (g) any other act or thing or omission, or delay to do any other act or thing, which may or might in any manner or to any extent vary the risk of a Guarantor as an obligor in respect of the Guarantied Obligations.