FORFEITURE OF BENEFIT OF THE TERM Sample Clauses

FORFEITURE OF BENEFIT OF THE TERM. In the event that the cardholder breaches any condition stipulated in this contract, including without limitation, where the cardholder fails to make payments by the due date in accordance with any mode of financing he has used, as defined in Section 1 of this contract, then Desjardins, subject to the Consumer Protection Act, may require immediate repayment of all the amounts owed by the cardholder, regardless whether they are due and payable.
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FORFEITURE OF BENEFIT OF THE TERM. In the event that the cardholder breaches any condition stipulated in this Agreement, including without limitation, where the cardholder fails to make payments by the due date in accordance with any mode of financing he will have used, as defined in Section 1 of this Agreement, then the Federation, subject to the Consumer Protection Act, may require immediate repayment of all the amounts owed by the cardholder, regardless of whether they are due and payable.
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FORFEITURE OF BENEFIT OF THE TERM. In the event that the holder breaches any condition stipulated in this Variable Credit Agreement, including without limitation, where the holder fails to make payments by the due date, then the Federation may, subject to the Consumer Protection Act, where applicable, require immediate repayment of all the amounts owed by the holder, regardless of whether they are due and payable. Where applicable, the Federation reserves the right to withhold, in order to obtain payment of any specific, liquid and due claim it has against the holder, any sum of money it owes to the holder and use it to set-off its claim.
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FORFEITURE OF BENEFIT OF THE TERM. In the event that the holder breaches any condition set forth herein, including without limitation, where the holder fails to make payments by the due date, the Federation may then require immediate repayment of all amounts owed by the holder, regardless of whether they are due and payable. Where applicable, the Federation reserves the right to withhold, in order to obtain payment of any specific, liquid and due claim it has against the holder, any sum of money it owes to the holder and use it to set-off its claim.
Sample 1
FORFEITURE OF BENEFIT OF THE TERM. In the event that the Holder breaches any condition set forth in this agree- ment, including without limitation, where the Holder fails to make payments by the due date, the Federation may require immediate repayment of all amounts owed by the Holder, regardless of whether they are due and payable. Where applicable, the Federation reserves the right to withhold, in order to obtain payment of any specific, liquid and payable claim it has against the Holder, any sum of money it owes to the Holder and use it to compensate its claim. The Federation uses a U.S.-based service provider to issue and manage the Visa Desjardins U.S. Business card. The Holder and authorized representa- tives, if any, consequently acknowledge that by applying for and using the Visa Desjardins U.S. Business card, their information may be processed and stored in the United States. The Holder and authorized representatives are therefore advised that the United States governments, courts and regulatory authori- ties may be able to access such information under the applicable laws of that country.
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FORFEITURE OF BENEFIT OF THE TERM. 1. In case of agreed instalment payments, the late full and/or partial payment, even of a single instalment within the agreed timeframe, will cause the Buyer to immediately and automatically forfeit the benefit of the term for the subsequent instalments pursuant to Art. 1186 of the Italian Civil Code and the Seller will have the right to demand the entire amount agreed even if relating to different Purchase Orders. The release of bank bills for payment and, more generally, of credit instruments and any commercial agreements agreed between the Parties to guarantee the payment is not a novation of the original payment obligation. Art. 10
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Related to FORFEITURE OF BENEFIT OF THE TERM

  • Forfeiture of Benefits This Agreement is subject to termination by Company at any time and without stated cause prior to the date the Executive attains age 65, or such earlier date as the Executive and Company may mutually agree (the “Vesting Date”). In the event Company shall terminate this Agreement prior to the Vesting Date, Executive shall forfeit all rights to receive any payment provided for herein. Likewise, in the event Executive’s employment is terminated prior to his Vesting Date, either voluntarily or involuntarily, for reasons other than his death, Executive shall forfeit all rights to receive any payment provided for herein. Executive acknowledges and agrees that, prior to the earlier of his death or Vesting Date, nothing contained herein shall be construed as conferring upon Executive any vested benefits or any vested rights to receive any payment provided for herein.

  • Effective Date of Benefit Termination Medical, dental and life coverage termination will take effect on the first of the month following the loss of eligible employee or dependent status. Disability benefit coverage terminations will take effect on the day following loss of eligible employee status.

  • Termination of Benefits Except as provided in Section 2 above or as may be required by law, Executive’s participation in all employee benefit (pension and welfare) and compensation plans of the Company shall cease as of the Termination Date. Nothing contained herein shall limit or otherwise impair Executive’s right to receive pension or similar benefit payments that are vested as of the Termination Date under any applicable tax-qualified pension or other plans, pursuant to the terms of the applicable plan.

  • Duration of Benefits Eligibility for Income Protection benefits will cease upon the earliest of the following dates:

  • Limitation of Benefits (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined that any benefit, payment or distribution by the Company or any of its direct and/or indirect subsidiaries to or for the benefit of Employee (whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, but determined without regard to any additional payments required under this Section 18) (such benefits, payments or distributions are hereinafter referred to as “Payments”) would, if paid, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then, prior to the making of any Payments to Employee, a calculation shall be made comparing (i) the net after-tax benefit to Employee of the Payments after payment by Employee of the Excise Tax, to (ii) the net after-tax benefit to Employee if the Payments had been limited to the extent necessary to avoid being subject to the Excise Tax. If the amount calculated under (i) above is less than the amount calculated under (ii) above, then the Payments shall be limited to the extent necessary to avoid being subject to the Excise Tax (the “Reduced Amount”). The reduction of the Payments due hereunder, if applicable, shall be made by first reducing cash Payments and then, to the extent necessary, reducing those Payments having the next highest ratio of Parachute Value to actual present value of such Payments as of the date of the change of control, as determined by the Determination Firm (as defined in Section 18(b) below). For purposes of this Section 18, present value shall be determined in accordance with Section 280G(d)(4) of the Code. For purposes of this Section 18, the “Parachute Value” of a Payment means the present value as of the date of the change of control of the portion of such Payment that constitutes a “parachute payment” under Section 280G(b)(2) of the Code, as determined by the Determination Firm for purposes of determining whether and to what extent the Excise Tax will apply to such Payment.

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • Retention of Benefits Union leave under the following four (4) sections will be unpaid. The Employer will maintain regular pay and xxxx the Union for the costs of the employee’s salary and benefits. If the Union member is part-time or casual, and the leave is greater than their normal work hours, the Employer will pay the employee for the full length of the leave requested by the Union. The Employer will xxxx the Union for these days as noted above. The Union will pay these invoices within twenty-eight (28) days. Union leave is not unpaid leave for the purposes of Article 22.02 [i.e. such leave will not affect the employee’s benefits, seniority or increment anniversary date].

  • Cessation of Benefits An employee shall cease to be eligible for benefits of this Plan at the earliest of the following dates:

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • Severance and Retirement Options (a) (i) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 14.02 (a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of sixteen (16) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

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