Term; Termination. This Agreement shall continue in force and effect until December 31, 2014, and shall be automatically renewed for successive one year terms annually thereafter unless notice of non-renewal is given by the Company or the Manager before the end of the term. It is expected that the terms and conditions may be reviewed by the Independent Trustees, or such of the Independent Trustees serving on the Compensation Committee of the Board of Trustees of the Company, at least annually. Notwithstanding any other provision of this Agreement to the contrary, this Agreement, or any extension thereof, may be terminated by either party hereto upon sixty (60) days written notice to the other party, which termination, if by the Company, must be approved by a majority vote of the Independent Trustees, or if by the Manager, must be approved by a majority vote of the directors of the Manager. Section 21 hereof shall govern the rights, liabilities and obligations of the parties upon termination of this Agreement; and, except as provided in Sections 19 and 21, such termination shall be without further liability of either party to the other, other than for breach or violation of this Agreement prior to termination.
Term; Termination. In the event any person shall cease to be a director of the Corporation, such person shall simultaneously therewith cease to be a member of any committee appointed by the Board of Directors.
Term; Termination. The Manager shall commence providing the Services to the Company on the Effective Date and shall continue unless terminated by either party ("Termination Without Cause") provided that the terminating party provided at least three (3) months advance written notice of such termination to the other party (the "Notice Period"). This Agreement shall terminate immediately upon the expiry of the Notice Period. Notwithstanding the aforesaid, the Company may terminate this Agreement immediatly without having to provide the Notice Period in any of the following events: (a) a serious breach of trust including but not limited to theft, embezzlement, self-dealing; (b) any willful failure to perform competently any of his fundamental functions or duties hereunder which is not remedied by Manager within a reasonable time of having been requested to do so by the Company; (c) Manager (or Pnina) is convicted by a competent court of law of a dishonorable criminal offence () or (d) without Company's prior approval, Pnina ceases to perform the services on behalf of the Manager. In the event of Termination Without Cause by the Company, the period set out in Section 4.1 and 4.2 above shall be reduced to six (6) months.
Term; Termination. The term of this Agreement shall commence on the date hereof. This Agreement shall terminate upon the earliest to occur of (i) the Effective Date and (ii) the termination of the Merger Agreement in accordance with Article 7 of the Merger Agreement. Other than as provided for herein, following the termination of this Agreement, there shall be no further liabilities or obligations hereunder on the part of the Shareholder, SONA or EVBS, or their respective officers or directors, except that nothing in this Section 6 shall relieve any party hereto from any liability for breach of this Agreement before such termination.
Term; Termination. This Agreement and the performance of the Services hereunder shall commence immediately upon the Closing Date and shall continue in full force and effect until the earlier to occur: (i) the last date on which a Provider is obligated to provide any Service to a Recipient in accordance with the terms hereof (including any extension of the term of any Service); and (ii) the mutual written agreement of the Parties hereto to terminate this Agreement in its entirety.
Term; Termination 2.1 Term. The initial term of this Agreement will commence on the Effective Date and will expire two years thereafter (the Initial Term). This Agreement will automatically renew upon expiration of the Initial Term for successive one (1) year periods (each a Renewal Term, and together with the Initial Term, the Term), unless either party provides notice of termination to the other party at least ninety (90) calendar days prior to expiration of the Initial Term or any Renewal Term. 2.2 Termination by Purchaser. Purchaser may terminate this Agreement upon written notice to Seller if Seller materially breaches its obligations under this Agreement; provided, however, that Seller shall have thirty (30) calendar days from Purchasers notification of its intent to terminate to commence a corrective action to cure the alleged breach. 2.3 Termination by Seller. Seller may terminate this Agreement upon written notice to Purchaser if Purchaser materially breaches its obligations under this Agreement for any reason except failure to make payment; provided, however, that Purchaser shall have thirty (30) calendar days from Sellers notification of its intent to terminate to correct the alleged breach. Failure to make payment in accordance with the applicable payment terms is a material breach and must be corrected within ten (10) days.
Term; Termination. This Agreement shall continue in force and effect until December 31, 2035, and, on December 31 of each year after the effective date of this Agreement (each, an Extension Date), the term of this Agreement shall be automatically extended an additional year so that the term of this Agreement thereafter ends on the twentieth anniversary of such Extension Date. Notwithstanding any other provision of this Agreement to the contrary, this Agreement, or any extension thereof, may be terminated prior to the expiration of the term:
Term; Termination. The term of the employment agreement set forth in this Section 1 shall be for a period commencing at the Effective Date and continuing for four (4) years thereafter (the Scheduled Term) provided that this Agreement shall terminate:
Term; Termination. This Guaranty may be terminated at any time by the Guarantor by providing at least thirty (30) days' prior written notice to Counterparty; provided, however, Guarantor agrees that the obligations and liabilities hereunder shall continue in full force and effect with respect to any Guaranteed Obligations under the Agreement entered into on or prior to the date of such termination.
Term; Termination. The term of this Agreement (the Term) shall commence on the Effective Date and continue in full force and effect until terminated by either Party: (a) if the other Party has materially defaulted in the performance of any of its obligations under this Agreement and has not cured such default within ten (10) days of receipt of written notice from the non-defaulting Party of such default or (b) for any reason or no reason on ten (10) days written notice to the other Party.