Accelerated Termination Sample Clauses

Accelerated Termination. (a) During the continuation of an Event of Change contemplated by Section 6.01(a), both parties shall make reasonable efforts to make arrangements to avoid the imposition of any Tax contemplated by Section 6.01(a); provided that this Section 6.02 shall not impose on either party any obligation other than to negotiate in good faith to make such arrangements as will not adversely affect the parties. (b) During the continuation of any Event of Change, and if any arrangement is not, or is not capable of being, made pursuant to Section 6.02(a), then either party may designate an accelerated termination date ("Accelerated Termination Date") upon not less than two (2) and not more than ten (10) Business Days' notice to the other party. Upon the Accelerated Termination Date, the parties' obligations hereunder shall terminate, except for the obligations contained in Section 6.03 and Section 7.02.

Accelerated Termination. This Agreement may be terminated in advance and immediately by any of the Parties, notification to the other Party being sufficient therefore, in the cases indicated below: (i) If the shareholdings of Grupo Repsol YPF in the Company were below twelve point five percent (12.5%) or that of PESA were below ten percent (10%). Without prejudice to the termination of this Agreement, the Parties shall explore in good faith possible alternative agreements in accordance with their respective participations. For greater clarity, the provisions of Clause 6.5 shall be applicable in this clause. (ii) In case of default on this Agreement by any of the Parties pursuant to the provisions of Clause 9.1, the compliant party shall have the right to terminate this Agreement immediately. (iii) If Repsol YPF or PESA cannot provide the other party a sufficient guaranty within thirty (30) business days after its declaration of bankruptcy, the other Party shall have a right to terminate this Agreement immediately. In such cases the Parties shall be obligated to adopt and provide their consent for such acts, decisions, and agreements as are necessary to terminate this agreement to be adopted.

Accelerated Termination. The Consulting Term ----------------------- shall automatically terminate upon the death of Stephans or th▇ ▇▇▇▇ ▇pon which CTC reasonably determines that the state of Stephans's hea▇▇▇ ▇▇ ▇▇▇ger permits Stephans to fu▇▇▇▇▇ ▇▇s responsibilities hereunder, but such termination shall have no effect on the obligation of the Companies to continue to make the payments contemplated by Section 3 hereof.

Accelerated Termination. If at any time after completing the Minimum Work Program for the first thirty-six (36) months of the Agreement THE CONTRACTOR were to find evidence of no Crude Oil in the Agreement Area, or that the potential Crude Oil bearing formations as exist or as are likely to be found are not capable of commercial production because of the possible investment or necessary expenses required to undertake such exploitation, THE CONTRACTOR may request THE AFFILIATE, in writing, to approve the accelerated termination of this Agreement within sixty (60) Days following the date of such request. All the data and information as THE CONTRACTOR may produce to support its claim that the Agreement Area is not susceptible to Production must be attached to the request. Furthermore, THE CONTRACTOR shall promptly provide any additional data and information as may be required by THE AFFILIATE to better support the claim of THE CONTRACTOR. Any refusal by THE AFFILIATE to approve the termination of the Agreement under these conditions may not be unreasonable.

Accelerated Termination. 13 Section 6.03

Accelerated Termination. (a) Upon the occurrence of an Event of Change, the party becoming aware thereof shall promptly notify the other party specifying the nature thereof and the affected Swaps, and both parties shall make reasonable efforts to make arrangements to avoid the imposition of any tax contemplated by Section 7(a) or to avoid the performance of any of the obligations of either of the parties under this Agreement from being unlawful as contemplated by Section 7(b); provided that this subsection shall not impose on either party any obligation other than to negotiate in good faith to make such arrangements as will not adversely affect either of the parties. (b) If an Event of Change shall have occurred and be continuing, and if an arrangement is not made pursuant to Section 9(a) within fifteen (15) days, then the Affected Party (in the event of a Tax Event), the Terminating Party (in the event of a Merger Event), or either party (in the event of an Illegality) may designate an accelerated termination date ("ACCELERATED TERMINATION DATE") upon two Business Days' notice to the other party. Upon the Accelerated Termination Date, the parties' obligations under this Agreement shall terminate, except for the obligations contained in the remainder of this subsection. The party having the larger net gain or smaller net loss as a consequence of the termination of the parties' obligations under this Agreement shall pay to the other party an amount equal to one-half of the difference between such net gain and net loss. Such net gain and net loss shall be determined in a commercially reasonable manner and shall include (without limitation) any damages, losses, costs, or expenses incurred in obtaining, liquidating or employing hedg▇▇ ▇▇▇inst the Swap positions and in replacing the terminated Swaps with equivalent positions. Along with its designation of an Accelerated Termination Date, the party making such designation shall provide its computation of such net gain or net loss to both parties as a consequence of the termination of the parties' obligations under this Agreement, in reasonable detail and accompanied by reasonable corroborating documentation; however, the amount due under this subsection shall be only that amount mutually agreed upon by the parties or, failing such agreement, that amount determined to be the average of the calculations from Reference Market-makers, discarding the highest and lowest quotations. The intent of this subsection is to leave each party in an eq...

Accelerated Termination. The Consulting Term shall automatically terminate upon the death of S▇▇▇▇▇▇▇ or the date upon which CTC reasonably determines that the state of S▇▇▇▇▇▇▇’▇ health no longer permits S▇▇▇▇▇▇▇ to fulfill his responsibilities hereunder, but such termination shall have no effect on the obligation of the Companies to continue to make the payments contemplated by Section 3 hereof.

Accelerated Termination. Your Option will terminate and cease to be exercisable immediately upon the occurrence of a Termination Event.

Accelerated Termination. The option term specified in Paragraph 2 shall terminate (and this option shall cease to be exercisable) prior to the Expiration Date should one of the following provisions become applicable: A. Except to the extent otherwise provided in subparagraphs (ii) through (iv) below, should Optionee cease to remain in the Service of the Company at any time during the option term, then the period for exercising this option shall be reduced to a three (3)-month period commencing with the date of such cessation of Service, but in no event shall this option be exercisable at any time after the Expiration Date. Upon the expiration of such three (3)-month period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding. B. Should Optionee die while in Service or during the three (3)-month period following Optionee's cessation of Service, then the personal representative of the Optionee's estate or the person or persons to whom the option is transferred pursuant to the Optionee's will or in accordance with the law of descent and distribution shall have the right to exercise this option. Such right shall lapse, and this option shall cease to remain exercisable, upon the earlier of (A) the expiration of the twelve (12)-month period measured from the date of Optionee's death or (B) the Expiration Date. Upon the expiration of such twelve (12)-month period or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding. C. Should Optionee become permanently disabled (as defined in Section 22(e)(3) of the Internal Revenue Code) and cease by reason thereof to remain in Service at any time during the option term, then the Optionee shall have a period of twelve (12) months (commencing with the date of such cessation of Service) during which to exercise this option; provided, however, that in no event shall this option be exercisable at any time after the Expiration Date. Upon the expiration of such limited period of exercisability or (if earlier) upon the Expiration Date, this option shall terminate and cease to be outstanding. D. Should the Optionee's Service terminate under the circumstances specified in subparagraph (A) or (B) below, then this option shall immediately terminate and cease to be exercisable upon such termination of Service: (i) The Optionee's Service is involuntarily terminated by the Company by reason of his or her proven dishonesty, his or her commission of any willful act of violence to...