Termination, Rescission. 14.1 In case of a contract for the performance of a continuing obligation such contract may be terminated without notice for good cause. Grounds for good cause shall also include: – A violation of contractual obligations by the Contractor which is not remedied within an appropriate period of time set by the Principal and combined with a threat of termination, or after issuing an unsuccessful warning notice by the Principal; or – a considerable deterioration of a party's financial situation which threatens to impact such party's ability to perform its obligations under the contract and / or to discharge of its tax and / or social liabilities; or – the further execution of the contract is or will be either entirely or partly impermissible due to legal or official regulations. Further rights legally provided to the Principal regarding termination, termination for good cause and rescission from the contract shall remain unaffected by this provision.
Termination, Rescission. (a) This Agreement may be terminated and the sale and purchase of the Preferred Shares abandoned at any time prior to the Closing by either the Company or any Purchaser (with respect to itself only) upon written notice to the other, if the Closing has not been consummated on or prior to 5:00 p.m., New York City time, on the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.16 shall not be available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time. In the event that any Purchaser terminates this Agreement with respect to itself, the Company shall give prompt notice of the termination to each other Purchaser, and, as necessary, work in good faith to restructure the transaction to allow each Purchaser that does not exercise a termination right to purchase the full number of Securities set forth below such Purchaser’s name on the signature page of this Agreement while remaining in compliance with Section 4.12. Nothing in this Section 6.16 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement or the other Transaction Documents. In the event of a termination pursuant to this Section 6.16, the Company shall promptly notify all non-terminating Purchasers. Upon a termination in accordance with this Section 6.16, the Company and the terminating Purchaser(s) shall not have any further obligation or liability (including arising from such termination) to the other, and no Purchaser will have any liability to any other Purchaser under the Transaction Documents as a result therefrom.
Termination, Rescission. 16.1 The Contract may be terminated without notice for good cause. Grounds for good cause shall, in particular but without limitation, include: – A serious breach of duty by the Contractor which is not remedied within a reasonable period of time stipulated by the Principal after the written complaint is received; or – a considerable deterioration of a party's financial situation which threatens to impact such party' s ability to perform its obligations under the contract and / or to discharge of its tax and / or social liabilities; or – the purchase or use of the goods or the service is or will be either entirely or partly impermissible due to legal or official regulations. If the Principal terminates the contract for good cause and if other existing contracts between the Principal and the Contractor cannot be maintained for the same grounds for good cause, the Principal shall also be entitled to terminate such other contracts existing at the time of termination and contracts which have not yet been fulfilled against a pro rata remuneration for the services already provided. In such events, the Contractor is not entitled to any further claims for damages, reimbursement of expenses or remuneration.
Termination, Rescission. 16.1 Unless the contrary has been agreed upon between the parties, the Company may ordinarily terminate the contract in whole or in part with a notice period of one (1) month to the end of the month without giving any reason. Company may terminate contracts (order call-off) concerning the provision of training services at any time up to the completion of the relevant training.
Termination, Rescission. 17.1. If the Company is entitled to a right of rescission from this contract and if upholding other contracts concluded with the Contractor (e.g. software maintenance contracts in accordance with clause 11) proves unreasonable for the Principle for the same good cause, the Company may also terminate other contracts existing at the time of termination or may terminate contracts not completed against payment of pro-rata compensation for services already rendered. In the above case, the Contractor is not entitled to any further claims for damages, reimbursement of expenses or remuneration.
Termination, Rescission. 17.1 In case of a contract for the performance of a continuing obligation such contract may be terminated without notice for good cause. Grounds for good cause shall also include: – A violation of contractual obligations by the Contractor which is not remedied within an appropriate period of time set by the Principal, or after issuing an unsuccessful warning notice by the Principal; or – a considerable deterioration of a party's financial situation which threatens to impact such party' s ability to perform its obligations under the contract and / or to discharge of its tax and / or social liabilities; or – the further execution of the contract is or will be either entirely or partly impermissible due to legal or official regulations. Further rights legally provided to the Principal regarding termination, termination for good cause and rescission from the contract shall remain unaffected by this provision.
Termination, Rescission. (a) In the event that, following the Effectiveness Date, the Purchase and Assumption Agreement with the FDIC relating to the purchase by Oriental Bank and Trust, a wholly owned Subsidiary of the Company (the “Bank”), of certain assets, and the assumption by the Bank of deposits (and certain other specified liabilities), of Eurobank, San Xxxx, Puerto Rico (“Failed Bank”) (the “P&A Agreement”), is not entered into on or before June 1, 2010, or is entered into prior to such date but the consummation of the transfer of the assets and liabilities of the Failed Bank to the Bank pursuant to the P&A Agreement (such transfer, the “P&A Closing”) does not occur by June 30, 2010, then either the Company, upon written notice to the Purchasers, or any Purchaser, solely with respect to itself and not with respect to any other Purchaser, upon written notice to the Company, may terminate this Agreement.
Termination, Rescission. 15.1 The Principal’s right to ordinary termination of the contract with notice or to rescission from the contract shall follow statutory provisions, unless set forth otherwise in the individual contract.
Termination, Rescission. 20.1 The Buyer can cancel the agreement unilaterally at any time, provided that it compensates the Contractor for what has already been delivered or performed properly and for the cancellation costs demonstrated by the Contractor. No compensation shall be paid for loss of profit.
Termination, Rescission. (a) This Agreement may be terminated and the sale and purchase of the Preferred Shares abandoned at any time prior to the Closing by either the Company or the Purchaser upon written notice to the other, if the Closing has not been consummated on or prior to 5:00 p.m., New York City time, on the Outside Date; provided, however, that the right to terminate this Agreement under this Section 6.16 shall not be available to any Person whose failure to comply with its obligations under this Agreement has been the cause of or resulted in the failure of the Closing to occur on or before such time. Nothing in this Section 6.16 shall be deemed to release any party from any liability for any breach by such party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific performance by any other party of its obligations under this Agreement or the other Transaction Documents. In the absence of a breach of this Agreement, upon a termination in accordance with this Section, the Company and the Purchaser shall not have any further obligation or liability (including arising from such termination) to the others.
