Optional Cancellation. May permit an Eligible Employee who experiences a Disability as defined in subparagraph 3.5(b)
Optional Cancellation. May permit an Eligible Employee who experiences a Disability as defined in paragraph 2.5 to cancel is Deferred Compensation Election. If the Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability.
Optional Cancellation. May permit an Eligible Director who experiences a Disability as defined in subparagraph 3.5(b)
Optional Cancellation the Recipient may cancel, in whole or in part, the unused amount of the Revolving Credit Line at any time, providing the Financing Bank with a notice of no less than 5 (five) Business Days.
Optional Cancellation. 5.3.1 An insured event under optional cancellation is the cancellation of the trip by the insured for any reason, either before or during the trip.
Optional Cancellation. The Borrowers may terminate Facility A and Facility B, each in whole (but not in part), at any time upon at least sixty (60) days prior written notice to the Agent and upon (a) the payment in full of all outstanding Obligations under the relevant Credit Facility, together with all accrued and unpaid interest thereon, (b) the payment of any accrued and unpaid standby fees and other fees due under the Documents in respect of the relevant Credit Facility (including any prepayment fee required pursuant to the terms of this Section) to the date of termination, and (c) the expiration or termination of all B/As, Letters of Credit, Letters of Guarantee and Hedge Contracts (including all FEFCs, FX Collar Options and interest rate hedging instruments) under the relevant Credit Facility and, to the extent any such B/A, Letter of Credit, Letter of Guarantee or Hedge Contract has not expired in accordance with its terms or otherwise been terminated to the satisfaction of the Agent, accompanied by collateral security in form and in such amounts as shall be satisfactory to the Agent. At the effective date of any termination of the Credit Facilities by the Borrowers which occurs prior to the Maturity Date, or upon the Obligations or any of them being declared due and payable pursuant to Section 10.2, the Borrowers shall, to the extent not prohibited by Applicable Law, pay a prepayment fee to the Agent, for and on behalf of the Lenders under Facility A and Facility B, as applicable, according to their Rateable Portion, as liquidated damages for the loss of bargain and not as a penalty, in an amount equal to (i) two percent (2.00%) of the aggregate Total Commitment in respect of Facility A and Facility B if such termination or declaration occurs during the first 12-month period after the Closing Date (namely, the period commencing the Closing Date and ending July 27, 2013), (ii) one and one-half percent (1.50%) of the aggregate Total Commitment in respect of Facility A and Facility B if such termination or declaration occurs during the second 12-month period after the Closing Date (namely, the period commencing July 28, 2013 and ending July 27, 2014), and (iii) one percent (1.00%) of the aggregate Total Commitment in respect of Facility A and Facility B if such termination or declaration occurs thereafter. Notwithstanding the foregoing, the prepayment fee provided in this Section 5.4 shall not be payable if termination results directly from the conversion of Facility A and ...
Optional Cancellation. May permit an Eligible Director who experiences a Disability as defined in paragraph 2.5 to cancel is Deferred Compensation Election. If the Option is not selected, no cancellation will be required or permitted upon the occurrence of a Disability. ¨ (f) Rules Relating to Final Check of Year If this Option is elected, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of the year will be treated as Compensation for services performed in the taxable year in which the payroll period began. Otherwise, Compensation payable after the last day of the calendar year solely for services performed during the final payroll period which contains the last day of the year will be treated as Compensation for services performed in the subsequent taxable year in which the payment is made. Any amendment to this provision relating to the final check of the Participant’s taxable year may not be effective for 12 months from the date the amendment is adopted and executed.
Optional Cancellation. Purchaser shall have the right at any time, for any reason or for no reason (whether or not Seller may then be in default hereunder), to cancel, in whole or in part, the undelivered portion of the Goods purchased hereunder by delivering written, telegraphic or facsimile notice to Seller, who shall immediately, upon receipt of such notice, discontinue all work in respect to the cancelled portion of this Purchase Order except as may be necessary to preserve and protect the Goods then in process and shall use good faith efforts to cancel and terminate all then existing orders placed or entered into by Seller. In the event of such cancellation, Purchaser shall be obligated to pay Seller only for conforming Goods delivered to the destination, in accordance with this Purchase Order prior to the date of cancellation.
Optional Cancellation. The Obligor may cancel the Letter of Credit, by written notice to the Bank, countersigned by an Authorized Officer of the Beneficiary, provided that concurrently with such cancellation, the Obligor shall pay the Bank any cancellation fee due in respect of such cancellation in accordance with the Fee Letter, provided further that the original of such Letter of Credit must accompany such written notice, and provided further that the Obligor shall only have the right to cancel the Letter of Credit without the prior written consent from the Bank at any time during the period commencing on the day falling two years prior to the End Date and ending on the day immediately preceding the End Date.”
Optional Cancellation. Either SBA or the Surety may cancel a bonding line at any time, with or without cause, upon written notice to the other party. Upon the receipt of any adverse information concerning the Principal, the Surety must promptly notify SBA, and SBA may cancel the bonding line.
