Non-Extension. The Subject Maturity Date shall not be extended in accordance with Section 3.15(a) if Requested Lenders holding less than sixty-six and two-thirds percent (66 2/3%) of the Commitments of all Requested Lenders agree to extend the Subject Maturity Date pursuant to any Request for Extension. In such case, the Subject Maturity Date for all Requested Lenders shall not be extended.
Non-Extension. If, as contemplated by the provisions of Sections 3(a) and 3(b), either the Company fails to timely notify Employee that it wishes to extend this Agreement for an additional period or, alternatively, enter into a new agreement with Employee, or even if the Company has timely so notified Employee, the parties have, nonetheless, failed to enter into an extension agreement or a new employment agreement within the time specified in Section 3(b), then, in addition to Employee’s entitlement to continue to be paid all compensation and benefits as prescribed under the provisions of Section 4 for the balance of the Term, during which time he shall continue to render services to the Company as contemplated by this Agreement, Employee shall also be entitled to receive a post-employment payment (the “Post-Employment Payment”), equal to the sum of Employee’s Base Salary, pro rated on a monthly basis, multiplied by nine (9) months, payable in a lump sum, in cash and without discount, within thirty (30) days of his separation from service, subject, however, to the Delayed Payment Period limitations described in Section 6(e), if applicable. In addition, all unvested stock options and shares of restricted stock, if any, then held by Employee shall fully vest, as of the date of separation from service; provided that all vested stock options shall be exercisable by Employee, subject in any event to the provisions of the particular Company plan or program pursuant to which the stock options were granted and to the terms of the actual stock option agreement and option, only during the ninety (90) day period following separation from service, and Employee shall also be entitled to receive twelve months of COBRA coverage (while Employee remains eligible) paid for by the Company.
Non-Extension. If (A) the Initial Term is not extended for the Extended Term as a result of the failure to achieve the EBITDA 2-Year Target or if (B) the Initial Term is extended for the Extended Term pursuant to Section 1.2 and, upon the expiration of such Extended Term, the Company shall fail to offer employment to the Employee in the same position and with the same salary then in effect under Section 3.1 and participation in the Executive Bonus Plan on the same terms then in effect for an additional period of one year, in either case, the Company shall, except as provided in Section 9(c), (a) continue to pay to the Employee the salary then in effect under Section 3.1 for one year from the date of expiration of the Extended Term, (b) pay to the Employee the Average Bonus in equal monthly installments over such one year period (the amounts set forth in clauses (a) and (b), the "Section 6.5 Amount") and (c) provide the Employee with the same Benefits then in effect under Section 5 for such one year period. The Employee shall not be required to seek subsequent employment. Rights and benefits of the Employee (a) with respect to the Options or the Bonus Options shall be determined in accordance with Section 3.3(b) or the Executive Bonus Plan, as applicable and (b) subject to this Section 6.5, under the benefit plans and programs of the Company shall be determined in accordance with the provisions of such plans and programs. Neither the Employee nor the Company shall have any further rights or obligations under this Agreement, except as provided in Sections 7, 8, 9 and 10.
Non-Extension. For the avoidance of any doubt, in the event notice of non-extension is provided in accordance with Section 1, then the Company shall pay Executive all Accrued Obligations through the Date of Termination in a lump-sum payment by no later than sixty (60) days after the Date of Termination. Thereafter, the Company shall have no further obligations to Executive except as otherwise expressly provided under this Agreement, provided any such termination shall not adversely affect or alter Executive’s rights under any employee benefit plan of the Company in which Executive, at the Date of Termination, has a vested interest, unless otherwise provided in such employee benefit plan or any agreement or other instrument attendant thereto. Notwithstanding anything to the contrary contained herein, in the event the Company provides notice of non-extension in accordance with Section 1, but the Executive’s employment is terminated prior to the end of the scheduled term in accordance with Sections 6(a) through (e), the applicable provision of Section 7(a) through (e) shall govern the compensation due with respect to such termination. Nothing contained in the foregoing Sections 7(a) through 7(f) shall be construed so as to affect Executive’s rights or the Company’s obligations relating to agreements or benefits which are unrelated to termination or non-extension of employment.
Non-Extension. ABT or Employee may terminate the Employment Period by providing the notice described in Section 1(a)(ii) hereof.
Non-Extension. The Banks do not agree by 31 December 2015 to extend this Agreement so that it permits the issue of Letters of Credit with a term beyond 31 July 2019.
Non-Extension. If, in respect of any Request for Extension, one or more Non-Agreeing Lenders hold in aggregate more than 33⅓% of the Commitments of all Requested Lenders, then:
Non-Extension. The Option A Exercise Period and the Option B Exercise Period will not be extended for any reason including RER’s inability to conduct additional inspections and review so long as such inability is not the result, directly or indirectly, of the failure by the SMP Parties to perform their obligations under this Agreement.
Non-Extension. In the event that your employment with the Company terminates upon the expiration of the Term, you shall be entitled to receive (i) a prorated Annual Bonus in accordance with Section 4(ii) hereof, (ii) payment in respect of each EIP Award in accordance with Section 6 hereof, and (iii) any earned but unpaid Base Salary and other amounts (including reimbursable expenses and any vested amounts or benefits under the Company’s employee benefit plans or arrangements) accrued or owing through the date of effectiveness of such termination under the terms of the applicable arrangement. Payment and vesting of any amount under this Section 11(d) shall be conditioned upon compliance with Section 16 hereof.
Non-Extension. In the event that your employment with the Company terminates upon the expiration of the Term, you shall be entitled to receive any earned but unpaid Base Salary and other amounts (including reimbursable expenses and any vested amounts or benefits under the Company’s employee benefit plans or arrangements) accrued or owing through the date of effectiveness of such termination under the terms of the applicable arrangement. In addition, the Company will reimburse you for documented expenses of relocating from Bermuda up to $50,000. Payment of any amount under this Section 11(d) shall be conditioned upon compliance with Section 14 hereof.
