Term Termination and Performance Evaluation Sample Clauses

The 'Term, Termination and Performance Evaluation' clause defines the duration of the agreement, the conditions under which it may be ended by either party, and the methods for assessing whether contractual obligations are being met. Typically, this clause specifies the start and end dates of the contract, outlines procedures for early termination such as notice requirements or grounds for default, and describes how performance will be measured, such as through periodic reviews or benchmarks. Its core function is to provide clear guidelines for the contract's lifespan, establish mechanisms for ending the relationship if necessary, and ensure accountability through performance monitoring.
Term Termination and Performance Evaluation 
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Related to Term Termination and Performance Evaluation

  • Underutilization and Early Termination Charges If Customer’s Total Service Charges do not reach the AVC in any Contract Year during the Initial Term, Customer shall pay an “Underutilization Charge” equal to 25% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC in any Contract Year because the Agreement is terminated early by Customer without Cause or by Company with Cause, Customer shall pay an “Early Termination Charge” equal to 25% of the unmet AVC plus a pro rata portion of any credits received by Customer.

  • Effectiveness, Continuation, Termination and Amendment This Amended ------------------------------------------------------ and Restated Plan has been approved by a vote of the Board and its Independent Trustees and replaces the Fund's prior Distribution and Service Plan and Agreement for Class C shares. Unless terminated as hereinafter provided, it shall continue in effect until renewed by the Board in accordance with the Rule and thereafter from year to year or as the Board may otherwise determine but only so long as such continuance is specifically approved at least annually by a vote of the Board and its Independent Trustees cast in person at a meeting called for the purpose of voting on such continuance. This Plan may not be amended to increase materially the amount of payments to be made under this Plan, without approval of the Class C Shareholders at a meeting called for that purpose and all material amendments must be approved by a vote of the Board and of the Independent Trustees. This Plan may be terminated at any time by a vote of a majority of the Independent Trustees or by the vote of the holders of a "majority" (as defined in the 1940 Act) of the Fund's outst▇▇▇▇▇▇ ▇lass C voting shares. In the event of such termination, the Board and its Independent Trustees shall determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the Service Fee and/or the Asset-Based Sales Charge in respect of Shares sold prior to the effective date of such termination.

  • Continuation and Reinstatement, etc Each Guarantor further agrees that its guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Lenders, any Lender or any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise.

  • Effective Date Term Termination and Disconnection 3.1 Effective Date This Agreement shall become effective upon execution by all Parties.

  • Termination and Severance Executive shall be entitled to receive benefits upon termination of employment only as set forth in this Section 4: