Termination by IBM Clause Samples
The 'Termination by IBM' clause grants IBM the right to end the agreement under specified circumstances. Typically, this clause outlines the conditions under which IBM may terminate, such as breach of contract, insolvency, or failure to meet payment obligations, and may detail the required notice period or process for termination. Its core practical function is to provide IBM with a clear mechanism to exit the contract if certain issues arise, thereby protecting its interests and managing risk.
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Termination by IBM. In the event, but only in the event, that Equifax fails to pay IBM when due undisputed charges totaling at least one (1) month’s charge under this Agreement and fails to make such payment within sixty (60) days after receiving notice from IBM of the failure to make such payment, IBM may, by giving written notice to Equifax, terminate this Agreement as of a date specified in the notice of termination.
Termination by IBM. IBM may terminate any Transaction Document for a material default by Certegy that remains uncured for a period of sixty (60) days after written notice thereof to Certegy from IBM.
Termination by IBM. (a) If, and only if, Solectron fails to pay IBM when due undisputed charges totaling at least one (1) months’ charges under the Agreement, or withholds amounts in excess of those authorized by Section 9.4(c) (Disputed Charges) of Schedule C (Charges), and does not cure the failure by the end of the notice period set forth below, IBM may terminate the Agreement as of a date specified in the notice of termination
(b) IBM’s notice of overdue payment will be sent to the attention of Solectron’s Global Program Manager, with a copy to Solectron’s General Counsel, will expressly reference this Section 11.4 (Termination By IBM), will set forth the overdue amount, and will expressly state that IBM may terminate the Agreement if such failure to make payment is not cured within ten (10) business days after Solectron’s receipt of such notice.
Termination by IBM. IBM may terminate this Agreement, or, as specified below, any Services Tower, for any of the following reasons:
(1) IBM’s Termination Rights for Cause. IBM may terminate this Agreement immediately if AMO fails to pay to IBM when due under this Agreement any amounts other than as permitted pursuant to Section 19.03 (Disputed Charges/Credits) and such failure remains uncured for a period of ten (10) days after sending AMO a Default Notice thereof.
Termination by IBM. IBM, when not in default in the performance of its obligations under this Agreement, may, without prejudice to any other rights, terminate this Agreement by notice to the Shareholders if:
(a) IBM has not been provided with the lists described in Paragraph 4.2(b) by March 11, 2000 or by such later date in March, 2000 as IBM may, by notice to the Shareholders establish (provided that IBM may not terminate the Agreement pursuant to this Section 7.2(a) if it has not requested such lists by February 29, 2000);
(b) the Shareholders have not complied with all conditions precedent set forth at (ii) and (iii) of Paragraph 2.3(b) by March 15, 2000 other than those which have been waived by IBM;
(c) the conditions of the Offer are not satisfied or waived by IBM or Offerco on or prior to the expiry of the Offer; or
(d) the condition in Paragraph 2.3
(a) has either:
(i) not been waived by IBM; or
(ii) has not been satisfied on or before the date set out in such Paragraph.
Termination by IBM. IBM may terminate this Agreement upon thirty (30) days' prior written notice to Licensee if the Mac OS License Agreement between IBM and Apple dated as of April 10, 1996 is terminated.
Termination by IBM. In the event, but only in the event, that Federal-Mogul (1) fails to pay IBM *** or (2) withholds payment of disputed Charges in excess of ***, then IBM shall issue a notice of failure to pay to Federal-Mogul. If Federal-Mogul fails to correct such failure within *** days, then IBM shall issue a second notice of failure to pay to Federal-Mogul. If Federal-Mogul fails to correct such failure within *** days of such second notice, then IBM may terminate the applicable Country Agreement by giving *** days notice of such termination to Federal-Mogul and such termination will be effective on the *** day of such notice if Federal-Mogul has not corrected its failure to pay IBM. ***
Termination by IBM. IBM may terminate any Transaction Document for a material default by Equifax that remains uncured for a period of * after written notice thereof to Equifax from IBM.