PRE-TERMINATION Clause Samples
The PRE-TERMINATION clause outlines the rights and obligations of the parties before a contract is formally terminated. It typically addresses actions that must be taken, such as providing notice, fulfilling outstanding obligations, or preparing for the transition of services or goods. This clause ensures that both parties are aware of their responsibilities during the period leading up to termination, thereby minimizing confusion and reducing the risk of disputes during the contract wind-down process.
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PRE-TERMINATION. Either party may pre-terminate this contract after the first year, for any cause whatsoever, provided that a sixty (60) days written notice shall be given to the other party prior to the intended date of pre-termination, without any liability on the part of either party for loss of business opportunity or damages.
PRE-TERMINATION. The Grantor shall have the absolute right to unilaterally rescind the Sub-Grant Agreement upon the failure of the Project Beneficiary to comply with any and all of the requirements for the processing, release and payment of the amount of the financial subsidy within the fixed period set in Section XI of this Sub-Grant Agreement.
PRE-TERMINATION. The Corporation shall pay Employee a salary (payable in accordance with the Corporation's usual payment practices, but not less frequently than monthly) for his services under this Agreement beginning at an annual rate from the date hereof of Four Hundred Thousand Dollars ($400,000.00). Employee's annual salary may not be decreased but may be adjusted upward at any time by the Board of Directors of the Corporation. Compensation to Employee hereunder shall be prorated for any partial employment period. Employee shall also participate in the executive incentive bonus plan and in any other bonus arrangement mutually agreed between Employee and Corporation.
PRE-TERMINATION. After the original term provided under paragraph one (1) hereof, upon One Hundred Twenty (120) days prior written notice, LESSEE may pre-terminate this Contract without penalty.
PRE-TERMINATION. Pre-termination of TD shall be subject to the prescribed rules and regulations of the Bank, particularly on interest rate and penalty/ charges on pre-termination, and any applicable taxes arising from the pre-termination shall be shouldered by the Accountholder. Should an Accountholder intend to make a partial withdrawal, the entire TD shall be pre-terminated. Any remaining funds from the pre-terminated TD may be deposited as a new TD, provided that the amount is not less than the minimum deposit required. Pre-termination shall mean the partial or full withdrawal of the TD amount during the term of the TD.
PRE-TERMINATION. LESSEE cannot pre-terminate the lease. Pre-terminating the lease will result in the automatic forfeiture of LESSEE’s security deposit in addition to LESSOR’s remedy under Sec. 15 above.
PRE-TERMINATION. PDIC reserves the right to pre-terminate this Contract, subject only to three (3) calendar day notice prior to the intended date of termination, for any cause which may include failure of the COORDINATOR to perform in a timely manner any of their works, duties, functions, responsibilities or obligations stipulated herein or failure to carry out the task herein required in a manner acceptable to PDIC or violation by the COORDINATOR of any of the terms and conditions of this Contract.
PRE-TERMINATION a. Subject to the terms and conditions of this Agreement, on March 1, 2015 (such date, the “Termination Date”) Tenant shall surrender the Premises to Landlord in broom clean condition and in the condition required under the second sentence of Section 18.2 of the Original Lease.
b. No later than February 23, 2015, Tenant shall:
i. Deliver to Landlord a facility decommissioning and hazardous materials closure plan for the Premises (“Exit Survey”) prepared by an independent third party state-certified professional with appropriate expertise, complying with the American National Standards Institute’s Laboratory Decommissioning guidelines (ANSI/AIHA Z9.11-2008) or any successor standards published by ANSI or any successor organization (or, if ANSI and its successors no longer exist, a similar entity publishing similar standards);
ii. Deliver to Landlord written evidence of all appropriate releases from Governmental Authorities (if any are required under Applicable Laws) obtained by Tenant in accordance with Applicable Laws;
iii. Place Laboratory Equipment Decontamination Forms on all decommissioned equipment to assure safe occupancy by future users; and
iv. Conduct a site inspection with Landlord.
c. Tenant shall cause the remediation of any recognized adverse environmental conditions set forth in the Exit Survey and compliance with any recommendations set forth in the Exit Survey, and Tenant shall remain responsible for such obligations after Tenant’s surrender of the Premises: provided that Landlord and any future tenant of the Premises reasonably cooperate with Tenant (and any contractors of Tenant) to timely provide access to the Premises in order to facilitate any work necessary to effect such remediation.
d. No later than the Termination Date, Tenant shall pay to Landlord by wire transfer in immediately available funds a termination fee equal to Two Million Dollars ($2,000,000).
e. The conditions described in Sections 1a.-d. above are referred to herein as the “Termination Conditions.”
f. Tenant’s obligations under Section 1.c shall survive the termination of the Lease pursuant to Section 2 below.
PRE-TERMINATION. During the term of the Executive's employment --------------- hereunder, the Executive shall devote all of his working time to the furtherance of Envirogen's interests as is provided in, and subject to the provisions of, Section 2 hereof, and the Executive shall not directly or indirectly (a) own, manage, operate, control or participate in any manner in the ownership, management, operation or control of, or be connected as an officer, employee, partner, director, principal, consultant, agent or otherwise with, or have any financial interest in, or aid or assist anyone else in the conduct of, any business, venture or activity which is engaged, anywhere in (i) the ▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, (ii) all of the provinces of Canada, and (iii) any other jurisdiction in which Envirogen derived in excess of $250,000 in revenues during the period this Agreement was in effect, in any business which is directly competitive with any principal line of business of Envirogen or any of its subsidiaries or Affiliates (as hereinafter defined), or (b) recruit or otherwise seek to induce any employees of Envirogen or any of its subsidiaries to terminate their employment or violate any agreement with or duty to Envirogen or any of its subsidiaries or affiliates; provided, however, that the Executive may -------- ------- own, as a passive investor, securities which represent no more than (A) ten percent (10%) of the equity of a company described in clause (a) of this sentence, and (B) any
PRE-TERMINATION. Either party may terminate this agreement by providing written notice of their intent to terminate at least 60 days prior to the desired termination date.