Interim termination Clause Samples
Interim termination. 1. The Lessor shall be entitled to terminate the Lease prematurely if the Lessee is in default. The Lessee is decidedly in default if one of the following circumstances arises:
Interim termination. 13.1 The Issuer shall be empowered to give written notice to an Issuer to terminate a Programme Agreement with immediate effect and without prior notice of default if:
a. that Issuer does not fulfil its obligations under the Programme Agreement and/or under the Notes issued by it;
b. that Issuer itself submits a petition as referred to in section 1 of the Bankruptcy Act;
c. that Issuer is declared bankrupt;
d. that Issuer applies for a suspension of payments;
e. an important part of the assets of that Issuer is attached and this attachment is not removed within a period of thirty (30) days.
13.2 If after the conclusion of the Programme Agreement as a result of implementation or amendment of or a change in interpretation or application of
(i) legislation and/or regulations and/or (ii) prescriptions or guidelines, with or without the force of law, including rules, measures, instructions and codes of conduct of the European Central Bank and/or De Nederlandse Bank N.V., the Arranger is no longer permitted to fulfil it obligations on the strength of the Programme Agreement, the Arranger shall be entitled to terminate the 01042019 JZ/2483432/da 15 of 18 Programme Agreement, without judicial interposition and without notice of default, with immediate effect.
13.3 As soon as any fact occurs that makes the Programme Agreement susceptible of termination in pursuance of the provisions in article 13.1, an Issuer shall inform the Arranger of this with immediate effect by means of a registered letter.
13.4 With the termination of a Programme Agreement the obligations of the Paying Agent under article 4 shall continue to exist until there is another Paying Agent for the Notes already issued under that Programme Agreement; the obligations of the relevant Issuer in respect of the Arranger, the Issuing and Paying Agent and all the holders of the Notes shall continue to exist until the time at which the Notes have been paid.
13.5 After termination of the Programme Agreement concluded with it the obligations of that Issuer in respect of the Arranger, the Issuing and Paying Agent and the holders of the Notes issued by the relevant Issuer shall continue to exist until the time at which all the amounts payable under the Notes have been paid.
13.6 With observance of sixty (60) days' notice the Arranger shall be empowered to terminate its position as Arranger without giving reasons. The Issuers may then designate its successor within sixty (60) days, failing which the Arranger may...
Interim termination. 13.1 The Issuer shall be empowered to give written notice to an Issuer to terminate a Programme Agreement with immediate effect and without prior notice of default if:
a. that Issuer does not fulfil its obligations under the Programme Agreement and/or under the Notes issued by it;
b. that Issuer itself submits a petition as referred to in section 1 of the Bankruptcy Act;
c. that Issuer is declared bankrupt;
d. that Issuer applies for a suspension of payments;
e. an important part of the assets of that Issuer is attached and this attachment is not removed within a period of thirty (30) days.
13.2 If after the conclusion of the Programme Agreement as a result of implementation or amendment of or a change in interpretation or application of
(i) legislation and/or regulations and/or (ii) prescriptions or guidelines, with or without the force of law, including rules, measures, instructions and codes of conduct of the European Central Bank and/or De Nederlandse Bank N.V., the Arranger is no longer permitted to fulfil it obligations on the strength of the Programme Agreement, the Arranger shall be entitled to terminate the JZ/3628521 15 of 18
Interim termination. 8.1 Unless agreed upon otherwise in writing, the agreement may not be terminated before the end of the term.
8.2 Notwithstanding Article 8.1, each party to the agreement is entitled to dissolve, terminate or suspend the agreement, with immediate effect and without judicial intervention, without being liable to the other party for damages or otherwise, if:
a. the other party defaults on any obligation under the agreement;
b. the other party applies for suspension of payment;
c. the other party has filed for bankruptcy or is declared bankrupt;
d. the other party is placed in receivership or dies;
e. the legal entity or other legal form of a party is dissolved, or if the business of a party ceases all or part of its activities or transfers it to a third party.
Interim termination. During the term of this agreement, IMS may elect to decline particular space, or to reduce its space requirements at particular locations, on thirty days' notice to Cadence, delivered both to Cadence's Notice address as shown on this agreement and to the particular office location where the space needs are being reduced. During the term of this agreement, IMS may also elect to transition particular Cadence Dedicated Agents to become IMS employees, subject to the rights of the employee as described above. Notice of such action shall be delivered both to Cadence at the Notice address shown on this agreement, and to the headquarters address of the particular Cadence subsidiary for whom the Dedicated Agent works. Cadence may elect to terminate some or all of its obligations hereunder on thirty days' Notice in the event IMS breaches a material obligation hereunder and such breach remains uncured for thirty days after Notice to IMS. After June 1, 1997 Cadence may elect to terminate its agreement with respect to particular facilities or subsidiaries on 180 days' Notice to IMS.