Cessation of Business means the Company’s ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, or in connection with a good faith determination by the Board that the continuing operation of the business in its ordinary course is reasonably likely to render the Company unable to meet its liabilities as they mature.
Cessation of Business means Employer’s ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, sale of assets, consolidation, merger or otherwise, in connection with, pursuant to or arising out of a good faith determination by the Board that the continuing operation of the business in its ordinary course is reasonably likely to render Employer unable to meet its liabilities as they mature. Upon termination in accordance with the Section 6(d), Employee shall be entitled to no further compensation hereunder other than the Base Salary and other benefits accrued hereunder through, but not including, the effective date of such termination. If Employee is so terminated by Employer pursuant to this Section 6(d) during the Term, Employer shall (i) pay to Employee the Base Salary, and (ii) provide the same health insurance benefits to which Employee was entitled hereunder, in each case (i.e., the Base Salary and health insurance benefits), until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the three (3) month period commencing on the date Employee is terminated. Employer may make such payments in accordance with its regular payroll schedule or in a single lump sum payment in its sole discretion.
Cessation of Business means the Company's ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, in connection with a good faith determination by the Board that the continuing operation of the business in its ordinary course is reasonably likely to render the Company unable to meet its liabilities as they mature.
Examples of Cessation of Business in a sentence
MODULEGR: General RequirementsCHAPTERGR-7: Cessation of Business GR-7.1 CBB Approval GR-7.1.1As specified in Article 50 of the CBB Law, a licensee wishing to cease to provide or suspend all or any of its licensed regulated services, completely or at any of its branches, must obtain prior written approval from the CBB.
Notwithstanding any other provision of these Conditions, a Permitted Cessation of Business shall not result in a breach of undertaking, constitute an Event of Default or otherwise result in any breach of any provision of these Conditions or the Trust Deed.
Cessation of Business by a Foreign Company and striking it off the Register.
MODULEGR: General RequirementsCHAPTERGR-7: Cessation of Business GR-7.1 CBB Approval (continued)GR-7.1.7Upon satisfactorily meeting the requirements set out in GR-7.1.3, the licensee must surrender the original license certificate issued by the Licensing & Policy Directorate at the time of establishment, and submit confirmation of the cancellation of its Commercial Registration from the Ministry of Industry and Commerce.
If the conduct of assessment is to aid in the resolution of the labor dispute, the same must be agreed upon by the parties and facilitated by the NCMB.D. Bankruptcy or Cessation of Business As a general rule, assessment shall not be conducted if the establishment has closed or ceased operation due to bankruptcy as declared by the Securities and Exchange Commission (SEC) or the Department of Trade and Industry (DTI).
More Definitions of Cessation of Business
Cessation of Business means Employer's ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, sale of assets, consolidation, merger or otherwise, in connection with, pursuant to or arising out of a good faith determination by Employer that the continuing operation of the business in its ordinary course is reasonably likely to render Employer unable to meet its liabilities as they mature. If Employee is so terminated by Employer pursuant to this Section 7(d) during the Term, Employer shall pay to Employee (i) the Base Salary until the last to occur of (A) the expiration of the remaining portion of the Initial Term or the then applicable Renewal Term, as the case may be, or (B) the expiration of the 12-month period commencing on the date Employee is terminated, and (ii) the Maximum Annual Bonus. Employer shall make payment of such Base Salary and the Maximum Annual Bonus in a single lump sum payment at termination.
Cessation of Business means an order made under the Criminal Law (Sentencing) Act 1988 (SA);
Cessation of Business means Employer’s ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, sale of assets, consolidation, merger or otherwise, in connection with, pursuant to or arising out of a good faith determination by Employer that the continuing operation of the business in its ordinary course is reasonably likely to render Employer unable to meet its liabilities as they mature. If Employee is so terminated by Employer pursuant to this Section 7(d) during the Term, Employer shall (i) pay to Employee the Base Salary, and (ii) provide the same medical, dental, disability and life insurance pursuant to Section 6(a) to which Employee was entitled hereunder as of the date of termination, provided, however, that in the case of such medical and dental insurance, that Employee makes a timely election for continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), in each case (i.e., the Base Salary and insurance), until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the nine-month period commencing on the date Employee is terminated. Employer shall make such payments of the Base Salary in a single lump sum payment at termination.
Cessation of Business means Employer’s ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, sale of assets, consolidation, merger or otherwise, in connection with, pursuant to or arising out of a good faith determination by the Board that the continuing operation of the business in its ordinary course is reasonably likely to render Employer unable to meet its liabilities as they mature. If Employee is so terminated by Employer pursuant to this Section 6(f) during the Term, then, in addition to payment of the Accrued Obligations, Employer shall (i) pay to Employee the Base Salary, and (ii) pursuant to COBRA, provide the same health insurance benefits to which Employee was entitled hereunder, in each case (i.e., the Base Salary and health insurance benefits), until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the three (3) month period commencing on the date Employee is terminated. Employer may make such payments in accordance with its regular payroll schedule or in a single lump sum payment in its sole discretion.
Cessation of Business means the Company's ceasing to operate in the ordinary course of business, whether by dissolution, liquidation, sale of assets, consolidation, merger or otherwise, in connection with, pursuant to or arising out of a good faith determination by the Board that the continuing operation of the business in its ordinary course is reasonably likely to render the Company unable to meet its liabilities as they mature. Upon termination in accordance with this Section 4.3.2, the Company shall (i) pay to Executive the Base Salary, and (ii) provide the same health insurance benefits to which Executive was entitled hereunder, in each case (i.e., the Base Salary and health insurance benefits), until the earlier to occur of (A) the expiration of the remaining portion of the Term, or (B) the expiration of the three (3) month period commencing on the date Executive is terminated. The Company may make such payments in accordance with its regular payroll schedule or in a single lump sum payment in its sole discretion.
Cessation of Business any Obligor ceases or threatens to cease to carry on all or a substantial part of its business;
Cessation of Business any Material Company suspends or ceases or threatens to suspend or cease to carry on all or a substantial part of its business; or