Melville's liability to Newco for each Terminated Lease shall Sample Clauses

Melville's liability to Newco for each Terminated Lease shall notwithstanding any provision in this Agreement to the contrary, be no more than and no less than three times the Contribution of such Terminated Lease but in no event less than $100,000 (the "Store Contribution"); provided that the payment in this sentence is the sole payment required related to Terminated Leases. If Newco, the Company or any Subsidiary cannot take or maintain possession of a Store as of the Closing Date as a result of an injunction or restraining order concerning or resulting from the sale of the Company Shares to Newco pursuant to this Agreement and such injunction or order is later lifted prior to the first anniversary of the Closing Date, such Lease will no longer be a Terminated Lease and Newco shall, within five business days after such injunction or order is lifted, pay in cash to Melville, if such injunction or order is lifted prior to November 1, 1996, an amount equal to the payment received by Newco from Melville pursuant to this Section 9.5(b) or, if such injunction or order is lifted between November 1, 1996 and the day prior to the first anniversary of the Closing Date, an amount equal to half of the payment received by Newco from Melville pursuant to this Section 9.5(b), provided that if such injunction or order is not lifted prior to November 1, 1996, but is lifted prior to the first anniversary of the Closing Date, as a result of Newco's or the Company's failure to cooperate in any proceeding or action relating to such injunction or order, Newco shall pay Melville an amount equal to the payment received by Newco from Melville pursuant to this Section 9.5(b). For each Lease determined to be a Terminated Lease, Melville shall, within five business days after Newco, the Company or any Subsidiary has vacated the Store pertaining to such Terminated Lease, pay in cash to Newco an amount equal to the Store Contribution of such Lease.
Sample 1
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Related to Melville's liability to Newco for each Terminated Lease shall

  • Continuance of Employment/Service Required; No Employment/Service Commitment The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

  • Obligations of the Company Upon Termination of Employment (a) Expiration of Term, By the Company for Cause or by Executive without Good Reason. If Executive's employment shall be terminated:

  • EXPIRATION OF EMPLOYMENT TERM; NON-EXTENSION OF AGREEMENT Upon the expiration of the Employment Term due to a non-extension of the Agreement by the Company or the Employee pursuant to the provisions of Section 2 hereof.

  • No Post-Employment Obligations No Company Employee Plan provides, or reflects or represents any liability to provide, retiree life insurance, retiree health or other retiree employee welfare benefits to any person for any reason, except as may be required by COBRA or other applicable statute, and the Company has never represented, promised or contracted (whether in oral or written form) to any Employee (either individually or to Employees as a group) or any other person that such Employee(s) or other person would be provided with retiree life insurance, retiree health or other retiree employee welfare benefit, except to the extent required by statute.

  • Continued Employment Beyond the Expiration of the Employment Term Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company beyond the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may thereafter be terminated at will by either Executive or the Company; provided that the provisions of Sections 10, 11 and 12 of this Agreement shall survive any termination of this Agreement or Executive’s Termination of Employment hereunder.

  • Conditions to Obligations of Each Party Under This Agreement The respective obligations of Buyer and Seller to consummate the transactions contemplated hereby shall be subject to the satisfaction at or prior to the Closing of the following conditions, any or all of which may be waived by Buyer and Seller, as the case may be in whole or in part, to the extent permitted by applicable Law:

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Non-Guarantee of Employment or Service Relationship Nothing in the Plan or this Agreement shall alter your at-will or other employment status or other service relationship with the Company, nor be construed as a contract of employment or service relationship between the Company and you, or as a contractual right of you to continue in the employ of, or in a service relationship with, the Company for any period of time, or as a limitation of the right of the Company to discharge you at any time with or without cause or notice and whether or not such discharge results in the forfeiture of any Award Shares or any other adverse effect on your interests under the Plan.

  • No Obligation to Continue Employment Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Grantee in employment and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Grantee at any time.

  • Obligations of the Employer Upon Termination The following provisions describe the obligations of the Employer to the Executive under this Agreement upon termination of employment. However, except as explicitly provided in this Agreement, nothing in this Agreement shall limit or otherwise adversely affect any rights which the Executive may have under applicable law, under any other agreement with the Employer or any of its affiliates or subsidiaries, or under any compensation or benefit plan, program, policy or practice of the Employer or any of its affiliates or subsidiaries.

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