Early Termination Compensation Sample Clauses
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Early Termination Compensation. If the CHARTERPARTY is terminated during the INITIAL PERIOD by COMPANY pursuant to Clause 9.2.1 (for reasons other than those stipulated in Clause 14.1 and 34.5) or by OWNER pursuant to Clause 9.2.3 above, and
(a) the early termination becomes effective after the EFFECTIVE DATE but before the 5th anniversary date of the commencement of the INITIAL PERIOD, then COMPANY shall pay to OWNER the lesser of:
(i) the DAILY COMPENSATION FEE for the remainder of the INITIAL PERIOD plus the DEMOBILIZATION AND REDELIVERY FEE, or
(ii) the amount under Clause 5 of Section III - CHARTERPARTY Prices and Schedules for Variations plus the DEMOBILIZATION AND REDELIVERY FEE.
(b) the early termination becomes effective on or after the 5th anniversary date of the commencement of the INITIAL PERIOD but before the 6th anniversary date of the commencement of the INITIAL PERIOD, provided that in the event of an early termination pursuant to Clause 9.2.1 (for reasons other than those stipulated in Clause 14.1 and 34.5) COMPANY gives OWNER 120-days written notice, then, subject to Clause 25.3, COMPANY shall be liable to OWNER only for the DAILY COMPENSATION FEE up to the date of termination and OWNER shall not be entitled to any other termination compensation.
(c) the early termination becomes effective on or after the 6th anniversary date of the commencement of the INITIAL PERIOD but before the 7th anniversary date of the commencement of the INITIAL PERIOD, provided that in the event of an early termination pursuant to Clause 9.2.1 (for reasons other than those stipulated in Clause 14.1 and 34.5) COMPANY gives OWNER 90-days written notice, then, subject to Clause 25.3, COMPANY shall be liable to OWNER only for the DAILY COMPENSATION FEE up to the date of termination and OWNER shall not be entitled to any other termination compensation. For early termination under Clause 9.2.5(a) above, OWNER shall credit COMPANY with a share of any future daily compensation fee equivalent earnings (net after tax) received from THIRD PARTIES during the unexpired portion of the INITIAL PERIOD following such termination. Such share shall be net of all further costs actually incurred by OWNER that are directly attributable to such early termination that have been incurred prior to receipt of such future earnings from THIRD PARTIES during the INITIAL PERIOD. If such earnings are higher than the DAILY COMPENSATION FEE paid by COMPANY to OWNER under this CHARTERPARTY, OWNER shall credit COMPANY all such ex...
Early Termination Compensation. With reference to Section II, Clause 9.2.5 the early termination compensation shall be as per the amounts shown in the following paragraphs. The amounts shall be linearly prorated if this CHARTERPARTY is terminated at periods other than the anniversary dates shown in the paragraphs:
5.1. On EFFECTIVE DATE 78% of the value of the FPSO with profit
5.2. Beginning of 2nd year 64% of the value of the FPSO with profit
5.3. Beginning of 3rd year 51% of the value of the FPSO with profit
5.4. Beginning of 4th year 37% of the value of the FPSO with profit
Early Termination Compensation. If the Agreement is terminated by ▇▇▇▇▇▇ as a result of an Event of Default or is terminated by Borrower prior to the end of the Maturity Date, in addition to all other Obligations, Borrower shall pay to Lender an early termination fee (the “Early Termination Compensation”) equal to 2 . 00 % of the Maximum Revolver Amount ; provided, however, that if the effective date of termination is after the first anniversary of the Effective Date and, in connection with such termination, the Obligations are refinanced by Borrower though an FDIC - insured financial institution, Lender shall waive the Early Termination Compensation . ▇▇▇▇▇▇’s right to termination compensation under this section shall be without prejudice to any of Lender’s other rights and remedies under this Agreement . The Early Termination Compensation shall be due and payable on the effective date of termination and thereafter shall bear interest at a rate equal to the highest rate applicable to any of the Obligations . ▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇ each agree and acknowledge that ▇▇▇▇▇▇ will have suffered damages on account of the early termination of this Agreement and that, in view of the difficulty in ascertaining the amount of such damages, the Early Termination reasonable Compensation constitutes compensation and liquidated damages to compensate Lender on account thereof. 6 . 3
Early Termination Compensation. In the event that Borrower shall terminate this Agreement on or before the second anniversary hereof, Borrower shall be obligated to pay to Bank, as a condition to such termination and prior to the release of Bank's liens and encumbrances, the amount of: (a) Three Hundred Thousand Dollars ($300,000) if such termination occurs before the first anniversary hereof; or (b) Two Hundred Thousand Dollars ($200,000) if such termination occurs on or after the first anniversary hereof but before the second anniversary of this Agreement.
Early Termination Compensation
Early Termination Compensation. Merisant shall pay to Heinz on or before the Termination Date an amount equal to One Million Five Hundred Thousand Dollars and Zero Cents ($1,500,000.00) by wire transfer of immediately available funds to an account designated in writing by Heinz not later than two business days prior to the Termination Date (the “Termination Fee”). The Termination Fee shall be in addition to any commissions or other amounts that Heinz earns in accordance with the terms of the Distribution Agreements prior to the Termination Date. For avoidance of doubt, such commissions shall be as set forth in the Distribution Agreement as in effect on the date hereof and do not include the proposed commissions set forth in the proposed First Amendment to the Food Service Distribution Amendment and the proposed Second Amendment to the Retail Distribution Agreement.
Early Termination Compensation. IF (I) THIS AGREEMENT IS TERMINATED BY SELLER PURSUANT TO CLAUSE 20.4 OR 20.6 OR (II) THE ADVANCE (AS DEFINED IN THE PREPAYMENT AGREEMENT) IS SATISFIED IN FULL (OTHER THAN AS A RESULT OF AN EARLY TERMINATION DUE TO A CHANGE OF CONTROL PRIOR TO THE MATURITY DATE (AS DEFINED IN THE PREPAYMENT AGREEMENT), OR THE DELIVERY OF 9,000,000 BARRELS OF CRUDE OIL HEREUNDER, OR THAT IS THE SUBJECT OF A SUBSEQUENT UTILISATION REQUEST UNDER THE PREPAYMENT AGREEMENT), SELLER SHALL PAY MARKETER THE FOLLOWING AMOUNT AS PRE-AGREED LIQUIDATED DAMAGES FOR SUCH TERMINATION OR SATISFACTION IN FULL (AS APPLICABLE):
i. IF SUCH TERMINATION OR SATISFACTION IN FULL OCCURS BEFORE THE FIRST ANNIVERSARY OF THE DATE OF THIS AGREEMENT: [Redacted – negotiated commercial terms];
ii. IF SUCH TERMINATION OR SATISFACTION IN FULL OCCURS ON OR AFTER THE FIRST ANNIVERSARY OF THE DATE OF THIS AGREEMENT BUT BEFORE THE SECOND ANNIVERSARY OF THE DATE OF THIS AGREEMENT: [Redacted – negotiated commercial terms];
iii. IF SUCH TERMINATION OR SATISFACTION IN FULL OCCURS ON OR AFTER THE SECOND ANNIVERSARY OF THE DATE OF THIS AGREEMENT: THE LESSER OF (I) [Redacted – negotiated commercial terms]; AND (II) THE AMOUNT DETERMINED BY MULTIPLYING THE RESULT OF 9,000,000 BARRELS LESS THE NUMBER OF BARRELS DELIVERED UNDER THIS AGREEMENT BY [Redacted – negotiated commercial terms] PER BARREL ON THE DATE SUCH TERMINATION OR SATISFACTION IN FULL OCCURS. [Crude Oil Purchase and Marketing Agreement – Attachment B] [Redacted – footer] COMMERCIAL CONTRACT MERCURIA ENERGY TRADING SA [REDACTED – ADDRESS] THE LIQUIDATED DAMAGES SPECIFIED IN THIS AGREEMENT (INCLUDING CLAUSE 20 (TERMINATION/SUSPENSION) AND THIS ATTACHMENT B ARE A GENUINE PRE-ESTIMATE OF MARKETER'S DAMAGES FOR TERMINATION, SUSPENSION OR SATISFACTION IN FULL (AS APPLICABLE). THE PARTIES HAVE FREELY AGREED THAT THESE LIQUIDATED DAMAGES REPRESENT PROPER, FAIR AND REASONABLE AMOUNTS RECOVERABLE BY MARKETER ARISING FROM THE CIRCUMSTANCES GIVING RISE TO PAYMENT OF THE RELEVANT AMOUNTS. SELLER ENTERS INTO THE OBLIGATION TO PAY THE LIQUIDATED DAMAGES SPECIFIED IN THIS AGREEMENT WITH THE INTENTION THAT IT IS A LEGALLY BINDING, VALID AND ENFORCEABLE CONTRACTUAL PROVISION AGAINST SELLER, HAVING CONTRACTED AT ARMS LENGTH, POSSESSING EXTENSIVE COMMERCIAL EXPERIENCE AND EXPERTISE AND HAVING BEING ADVISED BY ITS OWN LEGAL ADVISERS IN RELATION TO THIS AGREEMENT. SELLER AGREES TO EXCLUDE AND HEREBY WAIVES THE RIGHT OF THE BENEFIT OF, TO THE EXTENT PERMITTED BY LAW, THE APPLICAT...