Term Cessation Events Sample Clauses
The Term Cessation Events clause defines specific circumstances under which a contract or agreement will automatically end or be terminated. Typically, this clause outlines events such as insolvency, regulatory changes, or the discontinuation of a key service or product that trigger the cessation of the contractual relationship. By clearly identifying these events, the clause provides certainty and protection for both parties, ensuring that they are not bound by the agreement when fundamental conditions change or become untenable.
Term Cessation Events. 6.1 The occurrence of any of the following events with regard to Client shall each be a "Term Cessation Event":
Term Cessation Events. 6.1 The occurrence of any of the following events with regard to Client shall each be a “Term Cessation Event”:
(a) Manager Event. Client changes, removes, replaces or no longer retains Investment Manager as investment manager, or Investment Manager resigns or otherwise seeks replacement or removal from its position as Client’s investment manager (a “Manager Event”); or