Neglect of Duties Sample Clauses

Neglect of Duties. If the BOARD, in good faith, determines MINNESOTA LIFE is not fulfilling its contract obligations and meeting performance standards as defined in this contract and as detailed in Article VI, the BOARD shall submit a notice in writing to MINNESOTA LIFE that the BOARD has made a tentative determination that such willful or reckless neglect has occurred and the specific basis for such tentative determination. The BOARD shall give MINNESOTA LIFE at least sixty (60) days to respond to the determination in writing and allow MINNESOTA LIFE to present its response at a hearing before the BOARD to be held within sixty (60) days of the date of the original notice. If MINNESOTA LIFE fails to meet the contractual obligations noted by the BOARD within this sixty (60) day period, the BOARD may terminate this contract as provided in Article III, Section 3.4, "Effective Date of Termination for Cause," and avail itself of all rights and remedies available to it. Breach If MINNESOTA LIFE fails to comply with any of the covenants and agreements contained in this contract, including without limitation, the furnishing of sufficient personnel to perform its duties as provided in the contract and obtaining and maintaining all licenses required under federal and STATE law for MINNESOTA LIFE and each of their employees, then the BOARD shall give notice to MINNESOTA LIFE specifying with particularity the nature of MINNESOTA LIFE's default. If the specified default is not cured to the reasonable satisfaction of the BOARD within sixty (60) days following the date of the notice of default that is submitted to MINNESOTA LIFE by the BOARD, then the BOARD may terminate this contract as provided in Article III, Section 3.4 and avail itself of all rights and remedies available to it.
Sample 1
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Neglect of Duties. If the BOARD, in good faith, determines MINNESOTA LIFE is not fulfilling its contract obligations and meeting performance standards as defined in this contract and as detailed in Article VI, the BOARD shall submit a notice in writing to MINNESOTA LIFE that the BOARD has made a tentative determination that such willful or reckless neglect has occurred and the specific basis for such tentative determination. The BOARD shall give MINNESOTA LIFE at least sixty (60) days to respond to the determination in writing and allow MINNESOTA LIFE to present its response at a hearing before the BOARD to be held within sixty (60) days of the date of the original notice. If MINNESOTA LIFE fails to meet the contractual obligations noted by the BOARD within this sixty (60) day period, the BOARD may terminate this contract as provided in Article III, Section 3.4, "Effective Date of Termination for Cause," and avail itself of all rights and remedies available to it.
Sample 1
Neglect of Duties 
Sample 1

Related to Neglect of Duties

  • Limit of Duties Without limiting the generality of the foregoing, the Custodian shall be under no duty or obligation to inquire into, and shall not be liable for:

  • STATEMENT OF DUTIES 56.01 Upon written request, an employee shall be provided with a complete and current statement of the duties and responsibilities of his or her position, including the classification level and, where applicable, the point rating allotted by factor to his or her position, and an organization chart depicting the position’s place in the organization.

  • Scope of Duties Without limiting the generality of the foregoing, the Custodian shall be under no duty or obligation to inquire into, and shall not be liable for:

  • Limitation of Duties The Custodian in its capacity as such:

  • Extent of Duties Each Agent shall only be obliged to perform the duties set out herein and such other duties as are necessarily incidental thereto. No Agent shall:

  • Nature of Duties The Agent shall have no duties or responsibilities except those expressly set forth in the Agreement. Neither the Agent nor any of its partners, members, shareholders, officers, directors, employees or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of the Agreement or any other Transaction Document a fiduciary relationship in respect of any Debtor or any Secured Party; and nothing in the Agreement or any other Transaction Document, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of the Agreement or any other Transaction Document except as expressly set forth herein and therein.

  • Assignment of Duties Executive shall have such duties as may be assigned to him from time to time by the Company's Board of Directors commensurate with his experience and responsibilities in the position for which he is employed pursuant to Section 1 above. Such duties shall be exercised subject to the control and supervision of the Board of Directors of the Company.

  • Delegation of Duties The Administrative Agent may execute any of its duties under this Agreement and the other Loan Documents by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or misconduct of any agents or attorneys in-fact selected by it with reasonable care.

  • Absence of Duties The Subordination Agent shall have no duty to see to any recording or filing of this Agreement or any other document, or to see to the maintenance of any such recording or filing.

  • Nature of Duties of Agent The Agent shall have no duties or responsibilities except those expressly set forth in this Credit Agreement. Neither the Agent nor any of its officers, directors, employees or agents shall be liable for any action taken or omitted by it as such hereunder or in connection herewith, unless caused by its or their gross negligence or willful misconduct. The duties of the Agent shall be mechanical and administrative in nature; the Agent shall not have by reason of this Credit Agreement a fiduciary relationship in respect of any Lender; and nothing in this Credit Agreement, expressed or implied, is intended to or shall be so construed as to impose upon the Agent any obligations in respect of this Credit Agreement except as expressly set forth herein.

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