Termination of Agreement Effect of Termination Sample Clauses
The 'Termination of Agreement; Effect of Termination' clause defines the conditions under which a contract may be ended by either party and outlines the consequences that follow such termination. Typically, this clause specifies the events or breaches that can trigger termination, the required notice periods, and the obligations of each party upon ending the agreement, such as returning confidential information or settling outstanding payments. Its core function is to provide a clear framework for ending the contractual relationship, thereby reducing uncertainty and potential disputes if the agreement needs to be concluded before its natural expiration.
Termination of Agreement Effect of Termination. In the event that the Consents set forth in Items 1 and 2 of Schedule 3.3 shall have not been obtained by the date that is two (2) years after the Closing Date for the Assets other than the CFCP III & IV Assets, CNLR shall have the option to terminate the Agreement, provided that such termination shall in no way affect the effectiveness of either (i) the transactions which closed on the Closing Date or (ii) any closing pursuant to Section 9.3 with respect to either of CFCPIII or CFCPIV. Upon such termination, CNLR may, at its sole option, elect not to continue complying with Section 9.1(b)(i) hereof with respect to any Assets owned by it at the time of termination by delivering written notice to the Purchaser Group. Upon delivery of such notice, the Purchaser Group shall no longer have any obligations to CNLR pursuant to Section 9.1(b)(ii) hereof.
Termination of Agreement Effect of Termination. Upon default of any term or provision of this Agreement, the non-defaulting party shall have the right at its option, to cancel this Agreement by sending the defaulting party a notice specifying the nature and character of such default. In the event that the default is not cured within ten (10) days of the date the defaulting party receives such notice of a financial default, or within thirty (30) days of the date the defaulting party receives notice of a non-financial default, the non-defaulting party may, in addition to all of its other rights hereunder, either terminate this Agreement without liability for such cancellation or suspend the performance of its obligations hereunder until such default is remedied. Suspension of performance shall not preclude termination Upon any termination, expiration, cancellation or non-renewal of this Agreement, GES shall immediately return to Diebold all documents supplied by Diebold and all copies thereof in GES's possession or in the power and custody of any agent acting on behalf of GES, but the GES's obligations of confidentiality pursuant to Parts 4(b), 12, 13 and 14 shall thereafter continue. In the event of termination by Diebold based on a breach by GES, GES shall be deemed to have at the same time waived any rights it may have to prohibit or stop any GES employee or contractor from entering into a similar relationship with Diebold.
Termination of Agreement Effect of Termination. (a) If the Transmission Service Date has not occurred on or before June 30, 2003, any Party may, upon thirty (30) days prior written notice to the other Parties, cause the GridAmerica ITC to terminate.
(b) This Agreement may be terminated as to any GridAmerica Company (i) pursuant to Section 5.7 or (ii) at any time by mutual consent of such GridAmerica Company and the Initial Member. In the event of the termination of this Agreement as to any GridAmerica Company pursuant to this Section 11.1(b), this Agreement shall become void as to such GridAmerica Company and have no further effect, without any liability on the part of any party or its directors, officers or stockholders; provided, however, that no such termination shall release any GridAmerica Company from any liabilities pursuant to Section 2.2(d) or Section 3.4.
(c) Notwithstanding the foregoing, nothing contained in this Section 11.1 shall relieve any party to this Agreement of liability for a breach of any provision of this Agreement.
Termination of Agreement Effect of Termination. Section 11.1 Either Party may terminate this Agreement immediately by written notice upon the occurrence of any of the following events:
(a) Licensee is no longer actively engaged in the Business for a period of twelve (12) consecutive months;
(b) The other Party becomes unable to continue normal business operations;
(c) The other Party violates any applicable laws in connection with the performance of this Agreement; or
(d) Changes in laws, government policies, or regulations make it impossible or reasonably impracticable to achieve the purpose of this Agreement or to perform obligations under this Agreement.
Section 11.2 If the Licensor (a) breaches its restrictions under Section 4.3, obligations or representations under the Article 7, or obligations under Sections 5.1; (b) ceases to provide, maintain, support or update the Licensed Software in the ordinary course of its business, or fails to perform its obligations under Section 8.1; or (c) violates Article 9 by assigning all or any part of the Licensed IP to a third party, the Licensee may terminate this Agreement immediately by written notice.
Section 11.3 Any other matters related to termination of this Agreement shall be determined by separate mutual agreement between the Parties.
Section 11.4 Upon the expiration of the last to expire Valid Claim of a Licensed Patent in any country in the Territory with respect to any Licensed Product, the Licensee will have a perpetual, irrevocable, fully paid-up, royalty-free right and license to subsequently make, have made, use, offer to sell, sell, have sold, import and export in that country any and all products that were previously Licensed Products and shall have no further obligations to the Licensor in that country with respect to such Licensed Products.
Section 11.5 The rights and obligations of the Parties set forth in this Section 11.5, Section 11.4 and Articles 2, 6, 7, 10, 12 and 13, and any right, obligation, or required performance of the Parties in this Agreement which, by its express terms or nature and context is intended to survive termination or expiration of this Agreement, will survive any such termination or expiration.
Termination of Agreement Effect of Termination. This Agreement may be terminated (a) by either Party upon thirty (30) days’ advance written notice to the other Party at the addresses set forth in Section 9 or (b) immediately by the Company upon Advisor’s material breach of this Agreement (which shall include (x) Advisor’s material failure to provide any of the Services set forth on Exhibit A attached hereto or (y) any breach of the noncompetition or any nonsolicitation covenants set forth in Section 2(b) or Section 2(f) of the Restrictive Covenant Agreement or any material breach of any other restrictive covenants set forth in the Restrictive Covenant Agreement), subject to the Advisor’s ability to cure such breach (to the extent curable) within ten (10) days of written notice of such breach having been given to Advisor. Subject to the execution and non-revocation of a release of claims on the Company’s customary form solely with respect to matters under this Agreement, upon a termination of this Agreement by the Company pursuant to clause (a) of the immediately-preceding sentence, then an amount equal to (a) the Monthly Fee multiplied by (b) the number of months remaining in the Term as of such date of termination will be accelerated and paid to Advisor in full no later than thirty (30) days after the effective date of such release. Except as set forth in the immediately preceding sentence, subject to any rights under Section 11, no Monthly Fees or other payments shall be due to Advisor under this Agreement upon termination of this Agreement.
Termination of Agreement Effect of Termination