Cancellation and Conversion Provisions upon Termination of Employment Sample Clauses

Cancellation and Conversion Provisions upon Termination of Employment. Upon termination of employment other than by retirement, all Survivor Income Benefit Insurance will be canceled and the employee shall be entitled to have issued to him/her an individual policy of life insurance in accordance with the provisions of 2.01 d) if he/she has an eligible dependent under any Class as set forth in (c) above at the termination of his/her employment. The amount of such individual policy of life insurance issued shall be the total amount of Survivor Income Benefit that would have been paid if the employee had died on the date of his/her termination (or a lesser amount at the option of the employee). Application for this Conversion Privilege must be made within 31 days after the last day of the calendar month in which the Survivor Income benefit Insurance is canceled. If the employee dies during such 31 day period, whether or not the employee shall have made application for such individual policy, the Insurer shall pay any Survivor Income Benefit which would otherwise be payable in accordance with (a)(1)
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Related to Cancellation and Conversion Provisions upon Termination of Employment

  • Actions upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Events Upon Termination (a) If this Agreement is terminated, cancelled or ends for any reason, the Operator shall:

  • Rights Upon Termination Except as expressly provided in Section 6, upon the termination of the Executive’s Employment pursuant to this Section 5, the Executive shall only be entitled to the compensation, benefits and reimbursements described in Sections 2, 3 and 4 for the period preceding the effective date of the termination. The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.

  • Payments Upon Termination 4.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

  • Procedure Upon Termination In the event of termination by Buyer or Seller, as applicable, pursuant to Section 6.1 hereof, written notice thereof shall forthwith be given to the other party and the transactions contemplated by this Agreement shall be terminated without further action by Buyer or Seller. If the transactions contemplated by this Agreement are so terminated:

  • Other Termination Provisions 1. We may deliver any notice instead of mailing it. Proof of mailing of any notice shall be sufficient proof of notice.

  • Withdrawals upon Termination 31.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order:

  • EFFECT OF OPTIONAL TERMINATION Upon the exercise of the option to terminate pursuant to Section 7.2, this Agreement shall terminate and be of no further force or effect; provided, however, that:

  • Obligations Upon Termination Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement.

  • H3 Termination on Notice H3.1 The Authority shall have the right to terminate the Contract at any time by giving thirty (30) days written notice to the Contractor.

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