Cause Notice definition

Cause Notice hereunder shall be the following: (I) the terminating party shall send notice (the “Initial Notice”) stating the basis for the breach as set forth in i or ii above, giving a 60 day right to cure. (II) if the breach is not cured in 60 days, the terminating party shall then give notice (the “Second Notice”) of its intent to terminate in 60 days. (III) 60 days following the Second Notice, the Letter Agreement may be terminated by the terminating party, immediately.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Cause Notice is defined in Section 8.10.

Cause Notice which shall describe in detail the circumstances the Company believes to have triggered its right to terminate Executive for Cause, and shall specify the effective date of termination. In the event that the Executive is terminated for Cause (as defined below), the Executive will be entitled only to those payments set forth in Article 3.1(a)(iii) and (vi). If, within ninety (90) days following the effective date of termination pursuant to Article 3.1(a), the Board determines that the Executive’s termination should have been for Cause, based on facts that were not known and could not have been known to the Board prior to the effective date of the Executive’s termination, the Company may provide Executive with written notice that, absent explanation or refutation of the allegations by the Executive, his/her termination shall be considered a termination for Cause. Such notice must include a description of the facts supporting a Cause termination, and must provide an opportunity for the Executive to be heard by the Board to offer his explanation or refutation of the allegations. If, following the provision of the notice, and an opportunity to be heard by the Board, a majority of the Board, acting in good faith, determines that the facts previously unknown to the Company support a Cause termination, the termination shall for all purposes be considered a termination for Cause. The Company shall have no further liability to the Executive under Article 3.1(a)(i), (ii) and (iv), and any amounts already paid to the Executive pursuant to those provisions shall be forfeited by the Executive and returned to the Company. “Cause” means the Executive’s having engaged in any of the following:

Examples of Cause Notice in a sentence

• The Cause Notice shall state the particular action(s) or inaction(s) giving rise to termination for Cause.

• If the Executive so effects a cure to the satisfaction of the Board, the Cause Notice shall be deemed rescinded and of no force or effect.

• The Cause Notice shall state the particular action(s) or inaction(s) giving rise to the termination for Cause.

• The Executive shall be given written notice by the Company of the intention to terminate his employment hereunder for Cause (the "Cause Notice").

• The Cause Notice shall state the action(s) or inaction(s) giving rise to termination for Cause in reasonable detail.

• The decision regarding banning of business dealings taken after the issue of a Show Cause Notice and consideration of representation, if any, in reply thereto, shall be communicated to the Agency concerned along with a reasoned order.

• If the Executive so effects a cure, the Cause Notice shall be deemed rescinded and of no force or effect.

• Further, the Agency shall be given an opportunity for Oral hearing to present its case in person, if it so desires, and the date for Oral Hearing shall necessarily be indicated in the Show Cause Notice.

• The Executive shall have fifteen days after the Cause Notice is given to cure the particular action(s) or inaction(s), to the extent a cure is possible.

• In case, no reply to Show Cause Notice is received from the Agency within stipulated time, further reminder shall be given with further period of 10 days thereafter if no reply is received action for processing ex-parte against the concerned Agency shall be initiated.

More Definitions of Cause Notice

Cause Notice means a written notice given to the Managing Member by another Member (with a copy of the same being given to each other Member concurrently therewith) that (a) specifies the events that such Member believes have occurred and give rise to a Cause Event and (b) contains the following notice in bold, all upper-case letters:

Cause Notice shall have the meaning ascribed to it in Article III, Section 3.03.

Cause Notice shall have the meaning set forth in Section 3.6(e).

Cause Notice has the meaning ascribed thereto in Section 9.1;