FORECLOSURE AND TERMINATION Sample Clauses

FORECLOSURE AND TERMINATION. In case, during the Project Duration, it is found that the Project or any Project component is not likely to lead to successful completion, IGSTC may decide to foreclose the Project or the Project component as warranted. The decision of the IGSTC shall be final in all respects. The Company shall immediately refund any grant-in-aid unutilized out of IGSTC’s disbursements to IGSTC, at its discretion, allow deduction of, the future committed expenses to third party vendors on pro-rata basis according to the quantum of IGSTC’s funding. The Company shall submit detailed accounts of funds received, utilized and unutilized. However, IGSTC may by a specific written order, prescribe a repayment schedule for the amount outstanding. If the Company likes to continue the Project at its own cost, it would be able to do so without restrictions from IGSTC after complying with these provisions. The Company may, before the completion of the Project, terminate this Agreement by giving three months notice in writing to IGSTC. IGSTC may also terminate this Agreement by written notice in the event of “the Company” committing breach of any term of this Agreement and either not rectifying it to the satisfaction of IGSTC or not satisfying IGSTC about its inevitability within a specified period. In the event of termination of the Agreement, no further disbursement shall be made by IGSTC and the Company shall be liable to return immediately grant-in-aid already availed of from IGSTC with additional simple interest at the rate of 12 (twelve) per cent per annum within 30 (thirty) days of termination of the Agreement. In case of failure to repay, without prejudice to any other rights under this Agreement, the amount can be recovered by initiating any procedure available in Law. FORCE MAJEURE The Parties shall not be held responsible for non-fulfillment of their respective obligations in successful completion of the Project under this Agreement due to the exigency of one or more force majeure events such as but not limited to acts of God, war, flood, earthquakes, strikes not confined to the premises of the Party, lockouts beyond the control of the Party claiming force majeure, epidemics, riots, civil commotion etc. lying beyond the reasonable control of and not brought about at the instance of the Party claiming to be affected by such event and which has caused the non-performance or delay in performance; provided on the occurrence and cessation of any such event the Party affected has ...
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FORECLOSURE AND TERMINATION. I. In case, during the Project Duration, it is found that the Project or any Project component is not likely to lead to successful completion, IGSTC may decide to foreclose the Project or the Project component as warranted. The decision of the IGSTC shall be final in all respects. The Company shall immediately refund any grant- in-aid unutilized out of IGSTC’s disbursements to IGSTC, at its discretion, allow deduction of, the future committed expenses to third party vendors on pro-rata basis according to the quantum of IGSTC’s funding. The Company shall submit detailed accounts of funds received, utilized and unutilized. However, IGSTC may by a specific written order, prescribe a repayment schedule for the amount outstanding. If the Company likes to continue the Project at its own cost, it would be able to do so without restrictions from IGSTC after complying with these provisions.
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FORECLOSURE AND TERMINATION i. In cases, during the tenure of Project, it is found that the Project or any Project component does not proceed according to the predetermined milestones as agreed in the DPR, and/or if there are undue time and cost overruns, or failure of the technology/ component of project/prototype(s) on PMMG evaluation or on account of any other reasons or is not likely to lead successful completion, the TDF project may be foreclosed in respect of the DA(s) and proposal for foreclosure will be approved by the Empowered Committee.
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FORECLOSURE AND TERMINATION. In case, during the Project Duration, it is found that the Project is not likely to lead to successful completion, DIO may decide to foreclose the Project as warranted. The decision of the DIO shall be final in all respects and shall not be amenable to challenge in any Court or Arbitral Forum. No liability shall be attracted by DIO for such foreclosure. The Partner Incubator shall immediately refund any Grant unutilized out of DIO’s disbursements to DIO.
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FORECLOSURE AND TERMINATION. It is further agreed that if any Mortgage shall be foreclosed, or if any Ground Lease be terminated, (a) the liability of the Mortgagee or purchaser at such foreclosure sale or the liability of a subsequent owner designated as Landlord under this Lease shall exist only so long as such Mortgagee, purchaser or owner is the owner of the Building or the Land, and such liability shall not continue or survive after further transfer of ownership; (b) the Mortgagee or Ground Lessor or their successors or assigns that succeeds to the interest of the Landlord in the Building or the Land, or acquires the right to possession of the Building or the Land, shall not be (i) liable for any act or omission of the party named above as the Landlord under this Lease; (ii) liable for the performance of Landlord’s covenants pursuant to the provisions of this Lease which arise and accrue prior to such entity succeeding to the interest of Landlord under this Lease or acquiring such right to possession; (iii) subject to any offsets or defenses which Tenant may have at any time against Landlord; (iv) bound by any Rent which the Tenant may have paid previously for more than one (1) month; or (v) liable for the performance of any covenant of Landlord under this Lease which is capable of performance only by the original Landlord; and (c) upon request of the Mortgagee, if the Mortgage shall be foreclosed, Tenant will attorn, as Tenant under this Lease, to the purchaser at any foreclosure sale under any Mortgage or upon request of the Ground Lessor, if any Ground Lease shall be terminated, Tenant will attorn as Tenant under this Lease to the Ground Lessor, and Tenant will execute such instruments as may be necessary or appropriate to evidence such attornment.
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Related to FORECLOSURE AND TERMINATION

  • Disposition and Termination The Depositor and the Issuer agree to notify the Escrow Agent in writing of any subscription revocations and the Initial Closing date of the Offering. Additionally, subsequent to an Initial Closing, Depositor and the Issuer agree to notify the Escrow Agent in writing of Subsequent Closing dates, if any, and of the termination of the Offering. Upon receipt of such written notification(s), the following procedures will take place:

  • COMMENCEMENT AND TERMINATION 10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Expiration and Termination This Agreement is for one academic year (August 1, 2018 through July 31, 2019) and will automatically renew for the following academic year unless terminated as indicated below by either party.

  • Assignment and Termination This Agreement shall not be assignable by any party except to successors to all or substantially all of the business of either party for any reason whatsoever without the prior written consent of the other party, which consent may be arbitrarily withheld by the party whose consent is required.

  • Release and Termination (a) Upon any sale, transfer or other disposition or removal from the Designated Pool of any Pool Aircraft (or Owner Subsidiary or Intermediate Lessee) or other item of Collateral in accordance with the terms of the Loan Documents, including the Pledged Equity Interest in each Owner Subsidiary or Intermediate Lessee that owns or leases such Pool Aircraft, or if applicable, Irish Subsidiary Holdco or CA Subsidiary Holdco (in each case, upon a removal of such Transaction Party in accordance with Sections 2.10 or 5.04 of the Credit Agreement), such Collateral will be deemed released from the Lien hereof (and related guarantees will be deemed released in accordance with Section 7.11 of the Credit Agreement), and the Collateral Agent will, at the relevant Grantor’s expense, execute and deliver to the Grantor of such item of Collateral such documents as such Grantor shall reasonably request and provide to the Collateral Agent to evidence the release of such item of Collateral from the assignment and security interest granted hereby and to evidence the release of any related guaranty, and to the extent that (A) the Collateral Agent’s consent is required for any deregistration of the interests in such released Collateral from the International Registry or any other registry or (B) the Collateral Agent is required to initiate any such deregistration, the Collateral Agent shall ensure that such consent or such initiation of such deregistration is effected. Any amounts released from the Collateral Account by the Collateral Agent in accordance with the terms of the Loan Documents shall be deemed released from the Lien hereof.

  • Procedure and Effect of Termination In the event of termination and abandonment of the transactions contemplated hereby pursuant to Section 9.1, written notice thereof shall forthwith be given to the other parties to this Agreement and this Agreement shall terminate and the transactions contemplated hereby shall be abandoned, without further action by any of the parties hereto. If this Agreement is terminated as provided herein:

  • Xxxx and Termination of Agreement 1. This Agreement shall run for a period of one (1) year from the date first written above and will be renewed from year to year thereafter unless terminated by either party as provided hereunder.

  • Amendments and Termination This Agreement may be amended or terminated only by a written agreement signed by the Company and the Executive.

  • Effect of Expiration and Termination Expiration or termination of this Agreement shall not relieve the parties of any obligation accruing prior to such expiration or termination. The provisions of Articles 2, 5, 8, and Sections 3.8.1, 3.12, 7.4 and 9.11 shall survive the expiration or termination of this Agreement.

  • Termination and Renewal 22.01 The Collective Agreement shall continue in effect until March 31, 2016, and shall remain in effect from year to year thereafter unless either party gives the other party written notice of termination or desire to amend the Agreement in accordance with Article 22.02 below.

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