Nonrenewal by the Company Sample Clauses

Nonrenewal by the Company. If (i) Executive’s employment with the Company and its Affiliates is terminated upon the expiration of the Initial Term or a Renewal Term after the Company has provided Executive with a notice of non-renewal as set forth in Section 4 above, (ii) before the 60th day following Executive’s termination of employment, Executive has signed and has not revoked a Release and such Release has become effective and irrevocable, and (iii) Executive continues to comply with Executive’s ongoing obligations under Sections 9 and 10 of this Agreement, the Company shall pay Executive severance in accordance with Section 7(e).
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Nonrenewal by the Company. In the event that the Company provides a notice of nonrenewal pursuant to Section 1, you may resign and receive the following payments at the times specified below, subject to Section 34:
Sample 1
Nonrenewal by the Company. If this agreement expires pursuant to Section 1 hereof because the Company elects not to renew this agreement as of October 20, 2003, then, except as provided otherwise in this Section 5, in consideration of your covenant not to compete set forth in Section 6 of this agreement, the Company will pay you a noncompetition payment equal to your then current annual salary. The noncompetition payment shall be payable in 12 equal monthly installments on the last day of each month beginning with the month immediately following nonrenewal of this agreement, and you shall not be required to seek or accept other employment while receiving such payment. Upon your request, the Company also will continue to provide health and dental insurance coverage after such termination of employment, similar to that provided to its executive employees, in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985. Notwithstanding the foregoing, you may elect to be released from your covenant not to compete, and if you accept employment with a competitor of the Company at any time when noncompetition payments are being made under this Section 5(b), the Company's obligation with respect to any further noncompetition, health and dental insurance payments shall cease.
Sample 1
Nonrenewal by the Company. Notwithstanding any other provision of this Agreement to the contrary but subject to Section 12(c), the Company may, in connection with the expiration of the Initial Term or any Automatic Renewal Term, decline to renew this Agreement upon the unanimous approval of the Independent Trustees. If the Company elects not to renew this Agreement at the expiration of the Initial Term or any Automatic Renewal Term, the Company shall deliver to the Manager prior written notice of the Company's intention not to renew this Agreement not less than one hundred eighty (180) days prior to the expiration of the then existing term. If the Company so elects not to renew this Agreement, the Company shall designate the date, not less than one hundred eighty (180) days from the date of the notice, on which the Manager shall cease to provide services under this Agreement and this Agreement shall expire and terminate on such date. If the Management Agreement is terminated due to the election by the Company not to renew the same under this Section 10(c), the Company shall be obligated to pay the Manager the Termination Fee within ninety (90) days after the effective date of termination of this Agreement. The obligation to pay the Termination Fee shall survive the expiration or termination of this Agreement.
Sample 1
Nonrenewal by the Company. The Employment Term, and Executive's employment hereunder, shall terminate at the end of the Employment Term following the delivery of a Notice of Nonrenewal by the Company to Executive. Upon such termination, Executive shall receive (i) the Accrued Obligations and (ii) subject to Sections 10(h) and 11(e), (A) cash severance in the form of two (2) times the Base Salary at the rate in effect at the time of termination, payable in equal monthly installments over the Severance Period in accordance with the Company's usual payroll practices, with the first such installment to be paid on the first usual payroll date following the date of such termination of employment, and (B) continued participation in the health insurance benefits of the Company that are provided from time to time to employees of the Company during the Severance Period at the same cost to Executive as that charged to other active employees of the Company; provided, that the Company's obligation to provide health insurance benefits shall cease with respect to such benefits at the time Executive becomes eligible for such benefits from another employer. To the extent that the health insurance benefits provided for in this Section 10(d) are not permissible after termination of employment under the terms of the benefit plans of the Company then in effect (and cannot be provided through the Company's paying the applicable premium for Executive in accordance with COBRA), the Company shall pay to Executive such amount as is necessary to provide Executive, after tax, with an amount equal to the cost of acquiring, for Executive and his spouse and dependents, if any, on a non-group basis, for the required period, those health insurance benefits that would otherwise be lost to Executive and his spouse and dependents as a result of Executive's termination, after taking into account any amount Executive would have to pay for such benefits had they been provided through the Company as described above. Except as provided herein, Executive shall have no further rights to any compensation (including any Base Salary or Annual Bonus) or any other benefits under this Agreement. All other accrued and vested benefits, if any, due Executive following a termination pursuant to this Section 10(d) shall be determined in accordance with the plans, policies and practices of the Company; provided, however, that Executive shall not participate in any severance, separation pay or termination plan, policy or program of the C...
Sample 1
Nonrenewal by the Company. If this Agreement expires pursuant to Section 1 hereof because the Company elects not to renew this Agreement or, if applicable, as of the day immediately following the last day of any renewal term, then, except as provided otherwise in this Section 5, in consideration of the Executive's covenant not to compete set forth in Section 6 of this Agreement, the Company will pay the Executive the Non-Competition Payment. The Non-Competition Payment shall be payable in twelve (12) equal monthly installments on the last day of each month beginning with the month immediately following nonrenewal of this Agreement, and the Executive shall not be required to seek or accept other employment while receiving such payment; PROVIDED, HOWEVER, that the Executive may elect to be released from the covenant not to compete, and if the Executive accepts employment with a competitor (defined with reference to Section 6.1 of this Agreement) of the Company at any time when Non-Competition Payments are being made under this Section 5(b), the Company's obligation with respect to any further Non-Competition Payments shall cease.
Sample 1

Related to Nonrenewal by the Company

  • Non-Renewal by the Company If the employment of the Executive should terminate by reason of (i) termination by the Company for any reason (other than Cause) or (ii) the Company’s failure to renew this Agreement, then all compensation and benefits for the Executive shall be as follows:

  • Termination by the Company This Agreement may be terminated by the Company at any time prior to the Effective Time:

  • Waiver by the Company The Company irrevocably waives acceptance hereof, presentment, demand, protest and any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against any Eligible Subsidiary or any other Person.

  • Other Termination by the Company If the Company terminates Executive’s employment without Cause before this Agreement terminates, or Executive terminates his employment for Good Reason (defined below) before this Agreement terminates, the Company will pay Executive a payment having a present value equal to the compensation and other benefits he would have been entitled to for the remainder of the term if his employment had not terminated. All payments made pursuant to this Section 9(b) shall be completed no later than March 15 of the calendar year following the calendar year in which Executive’s employment terminates.

  • Notice by the Company The Company shall give prompt written notice to a Responsible Officer of the Trustee at the Principal Office of the Trustee of any fact known to the Company that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article XV. Notwithstanding the provisions of this Article XV or any other provision of this Indenture, the Trustee shall not be charged with knowledge of the existence of any facts that would prohibit the making of any payment of monies to or by the Trustee in respect of the Debentures pursuant to the provisions of this Article XV, unless and until a Responsible Officer of the Trustee at the Principal Office of the Trustee shall have received written notice thereof from the Company or a holder or holders of Senior Indebtedness or from any trustee therefor; and before the receipt of any such written notice, the Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled in all respects to assume that no such facts exist; provided, however, that if the Trustee shall not have received the notice provided for in this Section at least 2 Business Days prior to the date upon which by the terms hereof any money may become payable for any purpose (including, without limitation, the payment of the principal of (or premium, if any) or interest on any Debenture), then, anything herein contained to the contrary notwithstanding, the Trustee shall have full power and authority to receive such money and to apply the same to the purposes for which they were received, and shall not be affected by any notice to the contrary that may be received by it within 2 Business Days prior to such date. The Trustee, subject to the provisions of Article VI of this Indenture, shall be entitled to conclusively rely on the delivery to it of a written notice by a Person representing himself to be a holder of Senior Indebtedness (or a trustee or representative on behalf of such holder), to establish that such notice has been given by a holder of such Senior Indebtedness or a trustee or representative on behalf of any such holder or holders. In the event that the Trustee determines in good faith that further evidence is required with respect to the right of any Person as a holder of such Senior Indebtedness to participate in any payment or distribution pursuant to this Article XV, the Trustee may request such Person to furnish evidence to the reasonable satisfaction of the Trustee as to the amount of such Senior Indebtedness held by such Person, the extent to which such Person is entitled to participate in such payment or distribution and any other facts pertinent to the rights of such Person under this Article XV, and, if such evidence is not furnished, the Trustee may defer any payment to such Person pending judicial determination as to the right of such Person to receive such payment.

  • Release by the Company Upon the execution of this Agreement, the Company, on its own behalf, and on behalf of its respective past, present or future parent entities, divisions, affiliates, subsidiaries, related business entities, shareholders, members, partners, limited partners, present and former directors, managing directors, managers, officers, control persons, shareholders, employees, agents, attorneys, administrators, heirs, executors, trustees, beneficiaries, representatives, successors and assigns (collectively, the “Company Releasing Parties”), hereby absolutely, unconditionally and irrevocably RELEASE and FOREVER DISCHARGE each of Yazbeck, his respective affiliates and each of his respective past, present or future entities, divisions, affiliates, subsidiaries, related business entities, shareholders, members, partners, limited partners, directors, managing directors, managers, officers, control persons, employees, independent contractors, agents, attorneys, administrators, representatives, successors and assigns (collectively, the “Yazbeck Released Parties”) from any and all claims, actions, causes of action, suits, debts, liabilities, obligations, sums of money, accounts, covenants, contracts, controversies, agreements, promises, damages, judgments, executions, claims and demands, whether known or unknown, suspected or unsuspected, absolute or contingent, direct or indirect or nominally or beneficially possessed or claimed by any of the Company Releasing Parties, whether the same be at law, in equity or mixed, which such Company Releasing Party ever had, now has, or hereafter can, shall or may have against any or all of the Yazbeck Released Parties, in respect of or arising from the Settled Claims, (collectively the “Company Released Claims” and together with the Yazbeck Released Claims, the “Released Claims”); provided, however, that nothing contained in this Agreement shall be construed to prohibit the Company from bringing appropriate proceedings to enforce the obligations of Yazbeck hereunder, none of which are released hereby until Yazbeck’s receipt of the Settlement Amount.

  • Cooperation by the Company If any Shareholder shall transfer any Registrable Securities pursuant to Rule 144, the Company shall cooperate, to the extent commercially reasonable, with such Shareholder and shall provide to such Shareholder such information as such Shareholder shall reasonably request.

  • Without Cause by the Company The Company may terminate the Employment hereunder at any time without Cause upon 60-day prior written notice to the Executive. The Executive may terminate the Employment voluntarily for any reason or no reason at any time by giving 60-day prior written notice to the Company.

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