Required Termination Clause Samples
The Required Termination clause mandates that a contract or agreement must be ended under specific circumstances outlined within the document. Typically, this clause details the particular events or breaches that automatically trigger termination, such as failure to meet critical obligations, insolvency, or legal prohibitions. Its core practical function is to provide certainty and enforceability by ensuring that parties are not bound to continue the agreement when essential conditions are no longer met, thereby protecting both parties from ongoing risk or non-performance.
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Required Termination. If a court of competent jurisdiction or Government Authority issues a final non-appealable order or judgment holding that all or part of the Agreement or all or a part of the Services offered under the Agreement are in violation of any Law (each, a “Judgment”), the affected party has the right to terminate those portions of the Agreement that are part of such Judgment by providing the other party with written notice of its intent to terminate such portions of the Agreement, and subject to Section II.E, such termination of such portions of the Agreement will be effective as of the date specified in such notice.
Required Termination. Either party shall also have the right, whether -------------------- or not a default shall have occurred, to terminate this Agreement prior to the expiration of the Initial Service Term or any Extended Term, upon no less than thirty (30) days prior written notice to the other party if either party is prohibited from furnishing any service related solely to this Agreement by order of any court, the Federal Communications Commissions, or any other government authority having jurisdiction as a result of any change in circumstance occurring after creation of this Agreement; and in the event of early termination under the paragraph, neither party shall have any continuing obligation or liability to the other, except for such obligations or liabilities for payment which existed at, or in respect of, services rendered through the termination date.
Required Termination. RDSI may terminate this Agreement upon reasonable notice and without penalty if required by any banking or financial institution regulator with jurisdiction over RDSI or RDSI’s parent.
Required Termination. In the event that (a) any Operative Document to which Lessee or Guarantor is a party or the security interest granted under this Lease or any other Operative Document shall (except in accordance with its or their terms), in whole or in part, terminate, cease to be effective or cease to be the legally valid, binding and enforceable obligation of Lessee or Guarantor, as applicable, (b) Lessee or any of its Affiliates shall, directly or indirectly, contest in any manner in any court the effectiveness, validity, binding nature or enforceability of any Operative Document, (c) the security interest in the Collateral securing Lessee's or Guarantor's obligations shall, in whole or in part, cease to be a perfected first priority security interest (subject to Permitted Liens), (d) there exists an Event of Default, (e) Lessee shall have abandoned or constructively abandoned all or any material portion of the Equipment for a period of 30 consecutive days which results in the Equipment not being properly maintained in accordance with the terms of this Lease or (f) Equipment with a Fair Market Value in excess of thirty percent (30%) of the Aggregate Purchase Price of all of the Equipment then subject to this Lease shall have suffered and shall be subject at such time to a Casualty, Lessee shall, upon notice from Agent, Lessor or the Required Participants (except in the case of an Event of Default set forth in Section 8.1(e), in which case no notice shall be required and such purchase shall be made promptly upon such Event of Default, and except in the case of an event described in clause (c) that occurs as a result of Lessor's or Agent's acts or omissions, in which case Lessee shall have a thirty (30) day period from the receipt of notice from Lessor or Agent of EXECUTION COPY such occurrence to cure such lapsed perfection), repurchase all of the Equipment and Related Property by paying to Agent, for the benefit of Lessor and the Participants, all amounts that would have been payable on the date of such repurchase if Lessee had purchased all of the Equipment and Related Property on such date pursuant to Section 10.1, such payment to be made not later than thirty (30) days following such notice or Event of Default, or in the case of a Casualty described in clause (f), within the period provided for in Section 6.1(a).
Required Termination. While one month after month provides the Parties with some flexibility as to the period of termination of this Agreement, a certain amount of the period must be granted before the end of the month. (9) Check the timeframe of the communication. Since the statement This rental agreement can only be terminated on the first of the month (if there is no infringement). Please specify again how many days before the first of the month the tenant must inform the landlord of his intention to terminate the lease. Lease payments (10) monthly rent amount. The exact amount of money the tenant has to pay for one month from month to month must be documented.