Non-Renewal Termination definition

Non-Renewal Termination means a termination of Participant’s employment by the Corporation due to the delivery by the Corporation of a notice of non-renewal of his employment agreement.
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Non-Renewal Termination means a termination of Executive’s employment by reason of a Non-Renewal of the Employment Period by the Company; and, at the time of such Non-Renewal, Executive is willing and able to continue performing services on the terms and conditions set forth herein during the Renewal Term. (i) “Plan” shall mean Holdings’ 2003 Equity Incentive Plan, as amended and restated from time to time.
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Non-Renewal Termination means the termination of the Employee's employment on January 1, 1998 if prior thereto the Employer has not offered to continue such employment for a period of not less than two years at a salary of not less than $265,000 per year and with benefits comparable to those provided for in Paragraphs 6.1, 6.2, 6.3, 6.4 and 6.5.
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Examples of Non-Renewal Termination in a sentence

  • Any termination of the Executive’s employment by the Company or by the Executive during the Term of Employment (other than as a result of the death of the Executive or a Non-Renewal Termination described in Section 6(g)) shall be communicated by written notice of termination to the other party hereto.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal two (2).

  • Any termination of the employment of the Employee hereunder other than as a result of an Involuntary Termination, a Termination for Cause, a Termination without Cause, a Termination for Good Reason (as defined below) or a Non-Renewal Termination (as defined below) will be referred to hereinafter as a “Voluntary Termination”.

  • For the avoidance of doubt, if a Non-Renewal Termination occurs on or within one (1) year after the consummation of a Change in Control of the Company, the Severance Multiple shall equal three (3).

  • Nevertheless, since both are implicated, I provide the following analysis to frame the issues.Alasko argues that if a Section 11 termination implicates the Non-Renewal Termination Fee, the contract will renew indefinitely and Alasko will have no way of ending the agreement without paying the fee.

  • Therefore, the Non-Renewal Termination Fee is enforceable even if it disincentivizes termination in certain circumstances.

  • Foodmark counters that the Non-Renewal Termination Fee would not be a penalty clause under Massachusetts law.

  • But neither party has produced any evidence or argument to justify reducing the amount of the Non-Renewal Termination Fee based on Alasko’s partial performance.Nor is any reduction appropriate.

  • As discussed above, the Non-Renewal Termination Fee amounts to no more than 10% of annualized net invoice sales - the equivalent of no more than one and one half months of projected sales.

  • Ct. 1998) (“A term fixing unreasonably large liquidated damages is unenforceable on grounds of public policy as a penalty.” (quoting Restatement (Second) of Contracts§ 356)), I do not find any substantial Massachusetts public policy reason that its law must control the interpretation or enforceability of the Non-Renewal Termination Fee.This is not a situation in which Massachusetts has an interest in protecting those who do business in the state from the impact of divergent foreign law.

Related to Non-Renewal Termination

  • Partial Termination has the meaning set forth in the Section 6.3(a).

  • Normal Termination means termination of employment or service with the Company and Affiliates: (i) by the Optionee; (ii) upon retirement; (iii) on account of death or Disability; or (iv) by the Company, a Subsidiary or Affiliate without Cause.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Renewal Term has the meaning set out in Section 9.1.

  • Initial Termination Date has the meaning set forth in Section 9.1(b)(i).

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Lease Termination Date means the last day of the Lease Term.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of (1) two years following such Change in Control or (2) the Executive’s death.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Initial Term has the meaning set forth in Section 7.1.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Potential Termination Event means an event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Optional Termination Price On any date after the Initial Optional Termination Date, an amount equal to the sum of (A) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that has become an REO Property) as of the Distribution Date on which the proceeds of the Optional Termination are distributed to the Certificateholders, plus accrued interest thereon at the applicable Mortgage Rate as of the Due Date preceding the Distribution Date on which the proceeds of the Optional Termination are distributed to Certificateholders and the fair market value of any REO Property, plus accrued interest thereon as of the Distribution Date on which the proceeds of the Optional Termination are distributed to Certificateholders, (B) any unreimbursed out-of-pocket costs and expenses owed to the Master Servicer, the Trustee or the Securities Administrator (including any amounts incurred by the Securities Administrator in connection with conducting the Auction), a Servicer or the Master Servicer and any unpaid or unreimbursed Servicing Fees, Monthly Advances and Servicing Advances, (C) any unreimbursed costs, penalties and/or damages incurred by the Trust Fund in connection with any violation relating to any of the Mortgage Loans of any predatory or abusive lending law and (D) in the event an Auction has been conducted, all reasonable fees and expenses incurred by the Securities Administrator to conduct the Auction.

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.