Termination Penalty Sample Clauses

Termination Penalty. Should Licensee terminate this Agreement within two years of the Effective Date, Licensee shall pay Licensor two million five hundred thousand ($2,500,000) dollars in addition to the requirements of section 7 below.
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Termination Penalty. Should this Agreement be terminated as to any student for other than any of the above listed reasons, a penalty of twenty-five percent (25%) of the remaining annual contract cost for said student will be imposed and the UCESC will not accept transportation applications from the Board for the subsequent year. Such penalty will be remitted pro-rata to any districts remaining on the route to lessen their financial impact.
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Termination Penalty. This Lessee, upon providing one hundred twenty (120) days written notice to the Lessor, may terminate this Lease upon the payment of penalty of Fifty-Five Thousand One Hundred Twenty ($55,120.00) Dollars.
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Termination Penalty. If this Agreement is terminated under Section 9.1, the State shall recover from the Company a penalty in an amount equal to all lost ad valorem tax revenue from the project and interest on that amount calculated as provided by Section 111.060, Texas Tax Code.
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Termination Penalty. The agreement can be cancelled by any party at any given moment by writing or email communication.
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Termination Penalty. 18.1. Solely and exclusively in the event of early termination hereof by the LESSEE without cause, the following shall apply, to the detriment of imposition of the fine set forth in section 15.2 or any other fine set forth in this Agreement: (i) if termination occurs by the end of the fifth (5th) year of the lease term, then the LESSEE shall return to the LESSOR an amount equivalent to the grace period granted by the LESSOR, proportionally to the time remaining before the end of the initial five (5) years of the lease term and to the area being returned, be it a module or shed, upon at least one hundred and eighty (180) days’ notice, and the LESSEE shall not be required to pay any kind of additional contractual fine or penalty; (ii) if termination occurs after the fifth (5th) year of the lease term, then the LESSEE shall pay to the LESSOR a penalty equivalent to three (3) times the monthly rent, proportionally to the time remaining before expiration of the ten (10) years’ lease term and to the area being returned, be it a module or shed, upon thirty (30) days’ notice, and if the notice period is no shorter than one hundred and eighty (180) days, then no fine or penalty will be imposed on the LESSEE; and (iii) specifically for Block 01—Blue and Block 02—Green, if termination occurs by the month of August 2016, then the LESSEE shall pay a fine equivalent to three (3) times the rent, proportionally to the area being returned, be it a module or shed, upon at least sixty (60) days’ notice. After the month of September 2016, the conditions for the other modules, as set forth hereinabove, shall apply.
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Termination Penalty. Should Tenant exercise its right to terminate the Lease as described in Section 2.1 above, then Tenant shall pay Landlord a termination fee equal to six (6) months of rental payments plus a applicable common area expenses, property taxes and insurance. In addition to the termination penalty, Tenant agrees to pay Landlord the unamortized portion of Tenant's Improvement Allowance as defined in Section 1.7 above. The straight line amortization shall be based on ten years at 12% with a tenant improvement allowance of $300,750.00. The Lease termination shall not become effective until Landlord receives the termination penalties described above and Landlord and Tenant mutually execute a Lease termination document. Landlord agrees to waive all such penalties in the event that Tenant secures a new tenant financially acceptable to Landlord, with no additional out of pocket expenses to Landlord. Should any out of pocket expenses to Landlord be nonetheless necessary to secure the next tenant, Tenant shall reimburse Landlord up to the amount of the Termination penalty.
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Termination Penalty. In the event that the Revolving Credit or Term Loan Facility is prepaid in full prior to the twenty-four month initial use period Borrower agrees to pay Lender a prepayment penalty of a) five (5)% of the Total Commitment if prepaid in months 1-6 following the initial Advance, b) one-fifth (1/6) of 5% of the Total Commitment times the number of months remaining until the end of year one but in no event less than two (2) percent of the Total Commitment if prepaid in months 7-12 following the initial Advance, and c) one-twelfth (1/12) of 2% of the Total Commitment times the number of months remaining in year two if prepaid in months 13-24 following the initial Advance.
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Termination Penalty. ISP's Termination of this Agreement, prior to the agreed upon termination date as described in article 1.1. of this Agreement, will result in a penalty payment calculated according to the following formula: Number of Remaining Months of Agreement X Average Monthly Usage Fees for Prior Months of Agreement ISP agrees to pay this amount in the event of ISP's Termination of this Agreement prior to the agreed termination date described in article 1.1. of this Agreement.
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Related to Termination Penalty

  • TERMINATION UPON RETIREMENT Termination of Executive’s employment based on “

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be effected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity and up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of the ESC Region 8 and TIPS. Does vendor agree? Yes

  • Termination and Termination Pay Subject to Section 12 of this Agreement, Executive’s employment under this Agreement may be terminated in the following circumstances:

  • Termination Pay Effective upon the termination of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of his death, his designated beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and in settlement and complete release of all claims the Executive may have against the Employer. For purposes of this Section 6.5, the Executive's designated beneficiary will be such individual beneficiary or trust, located at such address, as the Executive may designate by notice to the Employer from time to time or, if the Executive fails to give notice to the Employer of such a beneficiary, the Executive's estate. Notwithstanding the preceding sentence, the Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of the Executive, to determine whether any beneficiary designated by the Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of any trust, to determine whether any person or entity purporting to act as the Executive's personal representative (or the trustee of a trust established by the Executive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary, personal representative, or trustee.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Early Contract Termination The State may terminate this contract in whole or in part by giving fifteen (15) days written notice to the Purchaser when it is in the best interests of the State. If this contract is so terminated, the State shall be liable only for the return of that portion of the initial deposit that is not required for payment, and the return of unapplied payments. The State shall not be liable for damages, whether direct or consequential.

  • CFR PART 200 Termination Termination for cause and for convenience by the grantee or subgrantee including the manner by which it will be eff ected and the basis for settlement. (All contracts in excess of $10,000) Pursuant to the above, when federal funds are expended by ESC Region 8 and TIPS Members, ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for cause after giving the vendor an appropriate opportunity an d up to 30 days, to cure the causal breach of terms and conditions. ESC Region 8 and TIPS Members reserves the right to terminate any agreement in excess of $10,000 resulting from this procurement process for convenience with 30 days notice in writing to the awarded vendor. The vendor would be compensated for work performed and goods procured as of the termination date if for convenience of the ESC Region 8 and TIPS Members. Any award under this procurement process is not exclusive and the ESC Region 8 and TIPS reserves the right to purchase goods and services from other vendors when it is in the best interest of t he ESC Region 8 and TIPS. Does vendor agree? Yes

  • Termination and Termination Benefits Notwithstanding the provisions of Section 3, the Executive's employment under this Agreement shall terminate under the following circumstances set forth in this Section 6.

  • Termination Procedure a. Upon termination of this Contract the DCYF, in addition to any other rights provided in this Contract, may require the Contractor to deliver to DCYF any property specifically produced or acquired for the performance of such part of this Contract as has been terminated. The provisions of Section (TREATMENT OF ASSETS) shall apply in such property transfer. b. DCYF shall pay to the Contractor the agreed upon price, if separately stated, for completed work and service(s) accepted by DCYF, and the amount agreed upon by the Contractor and DCYF for (i) completed work and service(s) for which no separate price is stated, (ii) partially completed work and service(s), (iii) other property or services which are accepted by DCYF, and (iv) the protection and preservation of property, unless the termination is for default, in which case DCYF and Contractor may agree to the extent of the liability of DCYF. Failure to agree to the extent of the liability shall be a dispute within the meaning of Section (DISPUTES) of this Contract. DCYF may withhold from any amounts due the Contractor such sum as DCYF determines to be necessary to protect DCYF against potential loss or liability. c. The rights and remedies of DCYF provided in this Section (TERMINATION PROCEDURE) shall not be exclusive and are in addition to any other rights and remedies provided by law or under this Contract. d. After receipt of a notice of termination, and except as otherwise directed by DCYF, the Contractor shall: (1) Stop work under the contract on the date, and to the extent specified, in the notice; (2) Place no further orders or subcontracts for materials, services, or facilities except as may be necessary for completion of such portion of the work under the Contract as is not terminated; (3) Assign to DCYF, in the manner, at the times, and to the extent directed by DCYF, all of the rights, title, and interest of the Contractor under the orders and subcontracts so terminated, in which case DCYF has the right, at its discretion, to settle or pay any or all claims arising out of the termination of such orders and subcontracts; (4) Settle all outstanding liabilities and all claims arising out of such termination of orders and subcontracts, with the approval or ratification of DCYF to the extent DCYF may require, which approval or ratification shall be final for all the purposes of this clause; (5) Transfer title to DCYF and deliver in the manner, at the times, and to the extent directed by this Contract or by DCYF any property which, if the contract had been completed, would have been required to be furnished to DCYF; (6) Complete performance of such part of the work as shall not have been terminated by DCYF; and (7) Take such action as may be necessary, or as DCYF may direct, for the protection and preservation of the property related to this contract which is in the possession of the Contractor and in which DCYF has or may acquire an interest.

  • Termination; Repayment The Revolving Line terminates on the Revolving Line Maturity Date, when the principal amount of all Advances, the unpaid interest thereon, and all other Obligations relating to the Revolving Line shall be immediately due and payable.

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