Termination During Initial Term. This Agreement may not be terminated during the Initial Term unless pursuant to the provisions of Section 3.3, Section 3.4, Section 14.7 or Section 18.1, and shall otherwise continue after the Initial Term unless terminated pursuant to Section 3.3, Section 3.4, Section 14.7, or Section 18.1, or not renewed pursuant to Section 3.1.
Termination During Initial Term. Within the first 12 months of the Initial Term upon written notice from the Client that a majority of the independent trustees of the Client have found that the Custodian has provided services that are not reasonably satisfactory to them, the Client may terminate this Agreement; and either party may terminate this Agreement at any time (a) for cause, which is a material breach of the Agreement not cured within 60 days, in which case termination shall be effective upon written receipt of notice by the non-terminating party, or (b) upon 30 days written notice to the other party in the event that either party is adjudged bankrupt or insolvent, or there shall be commenced against such party a case under any applicable bankruptcy, insolvency, or other similar law now or hereafter in effect.
Termination During Initial Term. If construction of the Shoreside Complex has not commenced by the Construction Trigger Date, then Landlord may elect to terminate this Lease by giving Notice of such election to Tenant within thirty (30) days after the Construction Trigger Date. If Landlord does not give such Notice within such time, then Landlord’s right to make such election shall thereupon expire. Construction of the Hotel shall be completed prior to the expiration of the Permitted Hotel Construction Period. If substantial completion of the Hotel has not been achieved prior to the expiration of the Permitted Hotel Construction Period, Landlord may elect to terminate this Lease as of the expiration of the Permitted Hotel Construction Period by giving Notice of such election to Tenant within thirty (30) days from the expiration of the Permitted Hotel Construction Period. If Landlord does not give such Notice within such time, Landlord’s right to make such election shall thereupon expire. If Landlord elects to terminate this Lease pursuant to its right to do so under this Section 3.04, then, if requested to do so by Landlord in Landlord’s Notice of termination, Tenant shall (i) remove all improvements located upon the Premises and placed there by Tenant and (ii) return the Premises to its approximate condition on the Construction Commencement Date.
Termination During Initial Term. Should Client terminate during the Initial Term for any reason other than cause, lack of appropriations or Force Majeure, Client will owe Tyler the following payments:
Termination During Initial Term. If Employee's employment terminates pursuant to Sections 3.2(a), 3.2(b) or 3.2(d) hereof prior to the end of the Initial Term, Employee shall have no further rights against Tempur-Pedic or the Company hereunder, except for the right to receive the Accrued Benefits and, following execution of a release and waiver in a form satisfactory to Tempur-Pedic and the Company, the retention payments described in Sections 2.3(a) and (b), which shall be paid in a lump sum in cash and, with respect to RSUs, shares, within 90 days following Employee’s termination of employment, provided that Employee has delivered the release described above and the release has become effective. Tempur-Pedic International Inc. 0000 Xxxxxx Xxx, Xxxxxxxxx, XX 00000-0000 Phone (000) 000-0000 xxx.xxxxxxxxxxx.xxx
Termination During Initial Term. Termination of this Agreement by Tenant or Licensee during the Initial Term hereof for any reason other than Manager's material default under this Agreement shall require payment of an early termination fee determined as follows:
Termination During Initial Term. During the Initial Term of this Agreement, XxXxx may not terminate this Agreement unilaterally but may do so only with the approval of the Bank, as provided herein. If XxXxx desires to terminate this Agreement during the Initial Term, he shall provide written notice to the Bank of his desire to terminate this Agreement, which shall include the date on which XxXxx desires to terminate this Agreement. Upon receipt of such notice, the Bank shall, in its sole discretion, elect either: (A) to approve the termination of this Agreement on the date desired by XxXxx, (B) to approve the termination of this Agreement during the Initial Term but on a date other than the date desired by XxXxx, whether sooner or later, in the Bank’s sole discretion, or (C) to disapprove the termination of this Agreement at any time during the Initial Term. Within fifteen (15) days after XxXxx provides written notice to the Bank of his desire to terminate, the Bank shall provide written notice to XxXxx of its foregoing election, including, if applicable, the date during the Initial Term on which the Bank approves the termination of this Agreement.
Termination During Initial Term. If this Agreement is terminated by the Bank during the Initial Term without Cause in accordance with Subsection 4(c) of this Agreement, the Bank shall pay XxXxx his compensation earned up until the time of such termination. In addition, the Bank shall pay or provide XxXxx with the following consideration as severance compensation, provided that he complies with all of the provisions of Subsection 5(c) below:
Termination During Initial Term. If Employee's employment is terminated by the Company pursuant to Section 3.1(a) hereof during the initial term of the Agreement or if Employee's employment is not renewed following expiration of the initial term of this Agreement as provided in Section 1.1 hereof, Employee shall have no further rights against the Company hereunder, except for the right to receive (i) $3 million as severance payment, (ii) payment of any accrued but unpaid vacation time, (iii) reimbursement of expenses to which Employee is entitled under Section 2.6 hereof, and (iv) any rights in respect of Option Shares pursuant to Section 2.4 hereof. The severance payment shall not be paid until the Employee ceases to be a covered employee under Section 162(m) of the Code. Between the Employee's termination of employment and the date payment is made pursuant to this Section, the severance payment shall earn interest at the rate of 60% of the prime rate as reported in The Wall Street Journal. The severance payment under this Section 3.2(a) shall be reduced if the severance payment is considered a parachute payment (as defined in Code Section 280G) so that such payment, when combined with other payments which are considered parachute payments, does not exceed 2.99 multiplied by the Employee's base amount (as defined in Code Section 280G).
Termination During Initial Term. Section 8.01. At any time during the Initial Term of 60 days, the Employer may terminate this Agreement without penalty, except that Employee shall retain the 50,000 options specified in Section 4.01 if Employer terminates this agreement pursuant to this Section 8.01.
