Term and Termination Without Cause Sample Clauses
The 'Term and Termination Without Cause' clause defines the duration of an agreement and allows either party to end the contract before its natural expiration, even if there is no breach or specific reason. Typically, this clause outlines the required notice period that must be given before termination, such as 30 or 60 days, and may specify any obligations that survive termination, like payment for services rendered up to the termination date. Its core function is to provide flexibility for both parties, enabling them to exit the agreement without needing to prove fault or cause, thereby reducing the risk of being locked into an unfavorable or unnecessary contractual relationship.
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Term and Termination Without Cause. The initial term of this Agreement shall be for a period of one year from the date hereof. Unless terminated as to any Fund upon not less than thirty (30) days prior written notice to the other Parties, this Agreement shall thereafter automatically renew for the remaining Funds from year to year, subject to termination at the next applicable renewal date upon not less than 30 days prior written notice. Any Party may terminate this Agreement as to any Fund following the initial term upon six (6) months advance written notice to the other Parties.
Term and Termination Without Cause. The terms of this Agreement shall commence on the effective date of this agreement and shall expire on June 30th, 2023. Artist or County may terminate this agreement at any time with or without cause by giving 10 days written notice to the other its intent to terminate this contract; provided, however, that all costs incurred prior to such termination shall be payable to Artist.
Term and Termination Without Cause. The term of this Agreement shall be for twelve (12) months from the Effective Date and may be renewed by written agreement of the Parties (collectively the “Term”). Either Party may terminate this Agreement without cause by giving thirty (30) days notice providing written notice to the other Party, provided that this Agreement shall terminate automatically in the event of the death or disability of Consultant.
Term and Termination Without Cause. This Agreement may be terminated upon the mutual written consent of the Freelancer and Trinity. Notwithstanding any provision of this Agreement to the contrary, Trinity may terminate this Agreement without cause and without penalty, at any time, upon at least thirty (30) days prior written notice to the Freelancer.
Term and Termination Without Cause. This Agreement shall commence on the date set forth first above and shall remain in effect until (a) the completion of the Services, unless an earlier date is specified in the SOW or (b) terminated by either Party as provided in Section 7.2 (cumulatively, the “Term”).
Term and Termination Without Cause. This Agreement shall commence on the date set forth on the first page hereof. Payment under Section V shall commence on the date of the first resident move-in. The term of this Agreement shall continue for a period of ten (10) years from the date of the first resident move-in (the "Initial Term") and continue for the Initial Term unless terminated by law or otherwise according to its terms. Capital shall have the option to extend the term of this Agreementfor an additional five (5) year renewal option on the same terms and conditions as herein provided (the "Extended Term").
Term and Termination Without Cause. (a) This Agreement shall become effective on the Spin-Off Date and shall continue in operation, unless terminated in accordance with the terms hereof, until the third anniversary of the Spin-Off Date (the “Initial Term”). After the Initial Term, this Agreement shall be deemed renewed automatically each year for an additional one-year period (an “Automatic Renewal Term”) unless the Company or the Manager terminates this Agreement in accordance with Section 14(b) or 14(d), respectively.
(b) Notwithstanding any other provision of this Agreement to the contrary, (A) upon 180 days’ written notice in connection with an Accelerated Termination, or (B) upon 180 days’ written notice prior to the expiration of the Initial Term or any Automatic Renewal Term, as applicable (each such written notice referred to in Section 14(b)(A) and (B), the “Termination Notice”), the Company may, without cause, in connection with an Accelerated Termination or the expiration of the Initial Term or the then current Automatic Renewal Term, as applicable, terminate this Agreement (a “Termination Without Cause”) upon the affirmative vote of at least a majority of the Independent Directors (or, in the case of an Accelerated Termination, the affirmative vote of at least two-thirds of the Independent Directors), in their sole discretion, based upon (i) unsatisfactory performance by the Manager that is materially detrimental to the Company or (ii) a determination that the Management Fee payable to the Manager is excessive, subject to Section 13(c). In the event of a Termination Without Cause, the Company shall pay the Manager the Termination Fee before or on (i) the 180th day following the delivery of the Termination Notice in connection with an Accelerated Termination, or (ii) the last day of the Initial Term or Automatic Renewal Term, as the case may be (in each case, the “Effective Termination Date”).
(c) Notwithstanding the provisions of Subsection (b) above, if (A) the reason for termination specified in the Company’s Termination Notice is that a majority of the Independent Directors (or, in the case of an Accelerated Termination, two-thirds of the Independent Directors) have determined that the Management Fee payable to the Manager is excessive, and (B) the Manager agrees that it will continue to perform its duties hereunder during the Automatic Renewal Term that would commence upon the expiration of the Initial Term or then current Automatic Renewal Term, as applicable, at rates that ...
Term and Termination Without Cause. This Agreement shall continue in full force and effect unless terminated by any Party upon six months advance written notice or for one or more of the reasons noted in 12.2 through 12.
Term and Termination Without Cause. Unless otherwise stated in the Sales Order, this Agreement will be effective for an initial term of one (1) year from the Effective Date and automatically will renew for successive one (1) year renewal terms, unless: (a) terminated by either party without cause upon giving the other party at least ninety (90) days prior written notice of termination; (b) either party gives the other party notice of its election not to renew this Agreement at least ninety (90) days prior to the end of the then-current term; or (c) terminated by either party for cause as set forth in Section 12.3 below. Any additional Authorized User or Subscription Enhancements that are included under the Subscription Fees will automatically renew or expire with the Agreement. Unless otherwise specified in the Sales Order, any one-time services will be considered fulfilled upon the earlier of completion of the services or the expiration of the term during which the one-time service was contracted, and COSE shall have no further obligation with respect to such services, whether or not the Agreement is renewed.
Term and Termination Without Cause. This Agreement shall commence on the date set forth on the first page hereof and continue for a period of five (5) years, except that either party may terminate this Agreement after the Fixed Term (as hereinafter defined) by giving ninety (90) days written notice to the other party. The Fixed Term shall be thirty-six (36) months, except that if tax exempt financing is not utilized or if the U.S. Treasury Department liberalizes its current published advance ruling guidelines (Rev. Proc. 82-14, 1982-1 C.B. 459) to extend the period in which a management contract may be non-terminable without adversely affecting the tax-exempt status of bonds issued to finance the Facility to which the management contract relates, and if, in the opinion of bond counsel, such Treasury action applies to the bonds issued to finance the Facility, then the Fixed Term shall be the maximum period allowed for advance ruling purposes, but not more than five (5) years. If Buck▇▇▇ ▇▇▇minates the Agreement prior to the expiration of the Fixed Term or if Capital terminates this Agreement during the Fixed Term for cause as provided in Paragraph IV.B. below, severance compensation in an amount equal to the then-current monthly management fee times the number of months remaining in the Fixed Term shall be paid to Capital upon the effective date of termination. Any such termination shall be effective upon the expiration of the ninety (90) day period following the giving of the notice or on such later date as may be specified in the notice.