Termination Receipts Clause Samples

The Termination Receipts clause requires that, upon the termination of an agreement, one or both parties must provide written acknowledgment confirming receipt of any termination notice or related documents. In practice, this means that when a party sends a notice to end the contract, the receiving party must formally confirm they have received it, often within a specified timeframe and through designated communication channels. This clause ensures clear communication and documentation of the termination process, reducing the risk of disputes over whether proper notice was given or received.
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Termination Receipts. (a) (i) In the event of an “Early Termination Event” as defined under the Swap Agreement, (a) any Swap Termination Payment made by the Swap Counterparty to the Swap Account and paid pursuant to Section 4.02(e)(viii) (“Swap Termination Receipts”) will be deposited in a segregated non-interest bearing account which shall be an Eligible Account established by the Securities Administrator (the “Swap Termination Receipts Account”) and (b) any amounts received from a replacement swap counterparty (“Swap Replacement Receipts”) will be deposited in a segregated non-interest bearing account which shall be an Eligible Account established by the Securities Administrator (the “Swap Replacement Receipts Account”). The Securities Administrator shall invest, or cause to be invested, funds held in the Swap Termination Receipts Account and the Swap Replacement Receipts Account in time deposits of the Securities Administrator as permitted pursuant to clause (ii) of the definition of Permitted Investments or as otherwise directed in writing by a majority of the Certificateholders. All such Permitted Investments must be payable on demand or mature on a Distribution Date or such other date as directed by the Certificateholders. All such Eligible Investments will be made in the name of the Trustee of the Supplemental Interest Trust (in its capacity as such) or its nominee. All income and gain realized from any such investment shall be deposited in the Termination Receipts Account or the Replacement Receipts Account, as applicable, and all losses, if any, shall be borne by the related account.
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Termination Receipts. Not applicable.
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Termination Receipts. (a) In the event of an “Early Termination Event” as defined under the Basis Risk Cap Agreement, (i) any Basis Risk Cap Termination Payment made by the Basis Risk Cap Provider to the Basis Risk Cap Account (“Basis Risk Cap Termination Receipts”) shall be deposited in a segregated non-interest bearing account which shall be a subaccount of the Basis Risk Reserve Fund and which shall be an Eligible Account established by the Securities Administrator (the “Basis Risk Cap Termination Receipts Account”) and (ii) any amounts received from a replacement Basis Risk Cap Provider (“Basis Risk Cap Replacement Receipts”) will be deposited in a segregated non-interest bearing account which shall be a subaccount of the Basis Risk Reserve Fund and which shall be an Eligible Account established by the Securities Administrator (the “Basis Risk Cap Replacement Receipts Account”). In the absence of written instructions, such funds held in the Basis Risk Cap Termination Receipts Account and the Basis Risk Cap Replacement Receipts Account shall remain uninvested. Unless otherwise permitted by the Rating Agencies as evidenced in a written confirmation, the Depositor shall arrange for replacement Basis Risk Cap Agreement(s) and the Securities Administrator shall promptly, with the assistance and cooperation of the Depositor, use amounts on deposit in the Basis Risk Cap Termination Receipts Account, if necessary, to enter into replacement Basis Risk Cap Agreement(s) which shall be executed and delivered by the Securities Administrator on behalf of the Trust Fund upon receipt of written confirmation from each Rating Agency that such replacement Basis Risk Cap Agreement(s) will not result in the reduction or withdrawal of the rating of any outstanding Class of Certificates with respect to which it is a Rating Agency.
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Termination Receipts. In the event of an “
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Termination Receipts. 99 Section 5.10. Capitalized Interest Account.............................................................100 Section 5.11. The Certificate Insurance Policy.........................................................101 Section 5.12. Class X Account..........................................................................103 ARTICLE VI CONCERNING THE TRUSTEE EVENTS OF DEFAULT............................................................104
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Termination Receipts. In the event of an early termination of a Yield Maintenance Agreement, (i) any termination payment made by the Yield Maintenance Counterparty to the Issuer ("Termination Receipts") will be deposited in a segregated account which shall be an Eligible Account established by the Indenture Trustee (the "Termination Receipts Account") and (ii) any amounts
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Related to Termination Receipts

  • Termination by Contractor Contractor may, at its option, terminate this Contract upon the failure of MPS to pay any amount, which may become due hereunder for a period of sixty (60) days following submission of appropriate billing and supporting documentation. Upon said termination, Contractor shall be paid the compensation due for all services rendered through the date of termination including any retainage.

  • Termination by ViaCord ViaCord may terminate enrollment in the DNA Guardian Program upon written notice to the Client if the Account Payor fails to pay any required fees within sixty (60) days of the payment due date. Before terminating enrollment in the DNA Guardian Program, ViaCord may, at its exclusive discretion, use commercially reasonable effort to contact other Clients, if applicable, and give them the opportunity to take over the Account Payor obligations by executing applicable documentation.

  • Termination by Clients The Account Owner may terminate enrollment in the DNA Guardian Program at any time.

  • Termination by ICANN (a) ICANN may, upon notice to Registry Operator, terminate this Agreement if: (i) Registry Operator fails to cure (A) any fundamental and material breach of Registry Operator’s representations and warranties set forth in Article 1 or covenants set forth in Article 2, or (B) any breach of Registry Operator’s payment obligations set forth in Article 6 of this Agreement, each within thirty (30) calendar days after ICANN gives Registry Operator notice of such breach, which notice will include with specificity the details of the alleged breach, (ii) an arbitrator or court of competent jurisdiction has finally determined that Registry Operator is in fundamental and material breach of such covenant(s) or in breach of its payment obligations, and (iii) Registry Operator fails to comply with such determination and cure such breach within ten (10) calendar days or such other time period as may be determined by the arbitrator or court of competent jurisdiction. (b) ICANN may, upon notice to Registry Operator, terminate this Agreement if Registry Operator fails to complete all testing and procedures (identified by ICANN in writing to Registry Operator prior to the date hereof) for delegation of the TLD into the root zone within twelve (12) months of the Effective Date. Registry Operator may request an extension for up to additional twelve (12) months for delegation if it can demonstrate, to ICANN’s reasonable satisfaction, that Registry Operator is working diligently and in good faith toward successfully completing the steps necessary for delegation of the TLD. Any fees paid by Registry Operator to ICANN prior to such termination date shall be retained by ICANN in full. (c) ICANN may, upon notice to Registry Operator, terminate this Agreement if (i) Registry Operator fails to cure a material breach of Registry Operator’s obligations set forth in Section 2.12 of this Agreement within thirty (30) calendar days of delivery of notice of such breach by ICANN, or if the Continued Operations Instrument is not in effect for greater than sixty (60) consecutive calendar days at any time following the Effective Date, (ii) an arbitrator or court of competent jurisdiction has finally determined that Registry Operator is in material breach of such covenant, and (iii) Registry Operator fails to cure such breach within ten (10) calendar days or such other time period as may be determined by the arbitrator or court of competent jurisdiction. (d) ICANN may, upon notice to Registry Operator, terminate this Agreement if (i) Registry Operator makes an assignment for the benefit of creditors or similar act, (ii) attachment, garnishment or similar proceedings are commenced against Registry Operator, which proceedings are a material threat to Registry Operator’s ability to operate the registry for the TLD, and are not dismissed within sixty (60) calendar days of their commencement, (iii) a trustee, receiver, liquidator or equivalent is appointed in place of Registry Operator or maintains control over any of Registry Operator’s property, (iv) execution is levied upon any material property of Registry Operator, (v) proceedings are instituted by or against Registry Operator under any bankruptcy, insolvency, reorganization or other laws relating to the relief of debtors and such proceedings are not dismissed within sixty (60) calendar days of their commencement, or (vi) Registry Operator files for protection under the United States Bankruptcy Code, 11 U.S.C. Section 101, et seq., or a foreign equivalent or liquidates, dissolves or otherwise discontinues its operations or the operation of the TLD. (e) ICANN may, upon thirty (30) calendar days’ notice to Registry Operator, terminate this Agreement pursuant to Section 2 of Specification 7 or Sections 2 and 3 of Specification 11, subject to Registry Operator’s right to challenge such termination as set forth in the applicable procedure described therein. (f) ICANN may, upon notice to Registry Operator, terminate this Agreement if (i) Registry Operator knowingly employs any officer who is convicted of a misdemeanor related to financial activities or of any felony, or is judged by a court of competent jurisdiction to have committed fraud or breach of fiduciary duty, or is the subject of a judicial determination that ICANN reasonably deems as the substantive equivalent of any of the foregoing and such officer is not terminated within thirty (30) calendar days of Registry Operator’s knowledge of the foregoing, or (ii) any member of Registry Operator’s board of directors or similar governing body is convicted of a misdemeanor related to financial activities or of any felony, or is judged by a court of competent jurisdiction to have committed fraud or breach of fiduciary duty, or is the subject of a judicial determination that ICANN reasonably deems as the substantive equivalent of any of the foregoing and such member is not removed from Registry Operator’s board of directors or similar governing body within thirty (30) calendar days of Registry Operator’s knowledge of the foregoing. (g) ICANN may, upon thirty (30) calendar days’ notice to Registry Operator, terminate this Agreement as specified in Section 7.5. (h) [Applicable to intergovernmental organizations or governmental entities only.] ICANN may terminate this Agreement pursuant to Section 7.16.

  • TERMINATION BY MPS - BREACH BY CONTRACTOR If Contractor fails to fulfill its obligations under this Contract in a timely or proper manner, or violates any of its provisions, MPS shall thereupon have the right to terminate it by giving five (5) days written notice before the effective date of termination of the Contract, specifying the alleged violations, and effective date of termination. The Contract shall not be terminated if, upon receipt of the notice, Contractor promptly cures the alleged violation with five (5) days. In the event of termination, MPS will only be liable for services rendered through the date of termination and not for the uncompleted portion, or for any materials or services purchased or paid for by Contractor for use in completing the Contract.