Termination by the Funder. The Funder may terminate this Agreement by providing ten (10) calendar days written notice to the Claimholder after the occurrence of any of the following events. The notice shall reasonably describe the alleged breach which is the basis of such termination and clearly state the Funder’s intent to terminate this Agreement if the alleged breach is not cured within ten (10) calendar days of the Claimholder’s receipt of the notice.
(a) Any representation or warranty given by the Claimholder was untrue in any material respect as of the Initial Effective Date or the Restated Effective Date of this Agreement;
(b) Any breach by the Claimholder of a material provision of this Agreement that has a material adverse effect on the value of the Subject Claim or the Proceeds;
(c) An event, circumstance or condition has occurred or been discovered after the Initial Effective Date of the Agreement which would reasonably be expected to render it unlikely that the Claimholder Proceeds will be sufficient to pay the amounts corresponding to Sections 7.4(a) and Section 7.4(b) of this Agreement, as applicable, including the occurrence of any event or development with respect to the Subject Claim that has resulted or could reasonably be expected to result in the dismissal, discontinuation or denial of any material portion of the Subject Claim; or
(d) Claimholder becomes insolvent and is subject to Insolvency Proceedings.
Termination by the Funder. This Member Agreement terminates if and when the Funder:
27.1 Notifies the Members that:
27.1.1 The Due Diligence was unsatisfactory;
27.1.2 In the Funder's opinion, a suitable Member with strong prospects of success in an Action is not willing to act as Representative;
27.1.3 In the Funder's opinion, there are insufficient Members in the Scheme;
27.1.4 The quantum of Claims is not sufficient for the Funder to commercially justify the likely costs of progressing the Action; or
27.1.5 In the Funder's opinion, it has an irreconcilable and unavoidable conflict of interest in continuing to be party to the Scheme; or
27.2 In its absolute discretion gives the Representative and/or all Members 15 Business Days written notice that Funder will exit the Scheme; or
27.3 In its absolute discretion gives the Member 15 Business Days written notice of termination of this Member Agreement; or
27.4 Expels the Member that is party to this Member Agreement from the Scheme pursuant to rule 26.
Termination by the Funder. 15.1 The Funder is entitled to terminate its obligations under this LFA, other than obligations accrued, by issuing a Funding Termination Notice giving 7 days written notice to the Applicant that the LFA and the Funder 's obligations (other than obligations accrued) are terminated.
15.2 If the Funder’s appointment of the Lawyers to provide Legal Work to the Applicant is terminated, the Funder will promptly issue a Lawyers Termination Notice to the Applicant, and inform the Applicant whether the Funder wishes to appoint other solicitors in place of the Lawyers.
15.3 If sub-clause 15.2 applies and the Funder informs the Applicant that the Funder wishes to appoint other solicitors in place of the Lawyers, those solicitors will become the Lawyers for the purposes of this LFA in place of the existing Lawyers. If this occurs:
a. it does not result in termination of this LFA, however the Applicant will have the right to terminate the LFA pursuant to sub-clause 16.1(b); and
b. it will not result in the replacement solicitors asSuming any obligations of the Lawyers accrued to the date the appointment of the Lawyers is terminated.
15.4 If the Funder appoints other solicitors in place of the Lawyers, and the Applicant does not exercise its rights of termination of the LFA under sub-clause 16.1(b), then:
a. the Applicant’s Legal Costs Agreement with the existing Lawyers will terminate under the terms of that Legal Costs Agreement; and
b. the Applicant will enter into a new Legal Costs Agreement, on substantially the same terms, with the new Lawyers.
15.5 If sub-clause 15.2 applies and the Funder informs the Applicant that the Funder does not wish to appoint other solicitors in place of the Lawyers:
a. This the Funder will terminate as at the date of such notice;
b. the Funder remains liable for the obligations referred to in sub-clause 15.7; and
c. it will not result in the replacement solicitors asSuming any obligations of the Lawyers accrued to the date the appointment of the Lawyers is terminated.
15.6 If the Funder terminates its obligations pursuant to sub-clauses 15.1 or 15.5, the Funder will continue to be entitled to receive amounts pursuant to sub-clause 11.1.
15.7 All obligations of the Funder under this LFA cease on the date the Funder’s termination becomes effective, save for obligations accrued to that date, and the Funder shall account to the Applicant for any money held by the Funder on behalf of the Applicant which is payable to the Applicant in respec...
Termination by the Funder. 17.1. The Funder is entitled, at its sole discretion, to terminate its obligations under this Agreement, other than obligations accrued, by giving 7 days written notice to the Claimant that the Agreement and the Funder’s obligations are terminated.
17.2. If the Funder terminates its obligations pursuant to clause 17.1 above then it will not be entitled to any payment pursuant to clause 10.1(b) or 10.1
Termination by the Funder
