Termination for No Cause. Either Custodian or the Funds may terminate: (a) this Loan Servicing Agreement in its entirety or (b) the Services as to any particular portfolio of loans or as to a loan or loans without terminating this Loan Servicing Agreement in its entirety, for any or no reason upon the providing of ninety (90) days’ advance written notice to the other parties.
Termination for No Cause. This agreement may be Terminated For No Cause by any of the parties with a prior notice of 6 months if terminated within a period of 24 months from the closing date or with a notice of 3 months if terminated after 24 months from the closing date. During the notice period, both parties to this Agreement will fulfil their duties and obligations under this Agreement.
Termination for No Cause. District and STS shall each have the right to terminate this Agreement, for any or no reason, at any time, upon no less than ninety (90) days’ prior written notice thereof to the other party. Upon the delivery of written notice of termination by either party, STS shall promptly cease performance of the Services hereunder except for those Services reasonably required to transition responsibility for said Services over to District, and shall provide an accounting thereof through the termination date.
Termination for No Cause. In addition to the right to terminate this Agreement pursuant to Sections 7.1, 7.2 and 7.3 of this Agreement, the Company shall have the right to terminate this Agreement and Executive's employment hereunder for any other reason or for no reason prior to the expiration of the term of this Agreement. In the event that the Company terminates this Agreement and Executive's employment hereunder pursuant to this Section 7.5, the Company shall give ten (10) days prior written notice to Executive and pay a termination fee to Executive in an amount equal to the lesser of (i) Sixty-two Thousand Five Hundred Dollars ($62,500) or (ii) the remainder of the Base Salary which would otherwise be due Executive pursuant to this Agreement but for such termination, to be paid in the manner and at the rate Executive had received immediately prior to such termination pursuant to Section 3.1 of this Agreement and the Company shall have no further obligation to Executive under this Agreement.
Termination for No Cause. In addition to the right to terminate this Agreement pursuant to Sections 7.1, 7.2 and 7.3 of this Agreement, the Company shall have the right to terminate this Agreement and Executive's employment hereunder for any other reason or for no reason prior to the expiration of the term of this Agreement. In the event that the Company terminates this Agreement and Executive's employment hereunder pursuant to this Section 7.5, the Company shall give ten (10) days prior written notice to Executive and pay a termination fee to Executive in an amount equal to $280,000.00.
Termination for No Cause. The Company may, in its discretion, terminate the Executive's employment forthwith at any time by giving him a written communication to that effect together with a compensation payment of:
Termination for No Cause. If this Agreement expires on the Expiration Date, or if the sooner termination of Executive's employment and this Agreement is not for cause, not because of Executive's death or disability and not because of his voluntary termination of employment, then the Company will make a lump sum cash payment to Executive equal to one year of the Executive's then annual Base Salary, plus an average cash bonus for the last three years but not less than $50,000 and will provide twelve (12) months continuation of fringe benefits available to Executive and his dependents covered for such benefits at the time of Executive's
Termination for No Cause. If it is not possible to cover Executive and his family with fringe benefits then the Company will make a lump sum payment to Executive for the value of such benefits. All the above lump sum payments will be paid immediately upon formal Termination for No Cause by the Board.
Termination for No Cause. Either party may terminate this Agreement with 30 days written or email notice for no cause or breach.
Termination for No Cause. Section 7.5 of the Employment Agreement is hereby amended to read in full as follows: In addition to the right to terminate this Agreement pursuant to Sections 7.1, 7.2 and 7.3 of this Agreement, the Company shall have the right to terminate this Agreement and Executive’s employment hereunder for any other reason or for no reason. In the event that the Company terminates this Agreement and Executive’s employment hereunder pursuant to this Section 7.5, the Company shall give ten (10) days prior written notice to Executive and pay a lump sum termination fee to Executive in an amount equal to the greater of (i) Three-Hundred and Twenty-Five Thousand Dollars ($325,000.00) or (ii) twelve (12) months of the Executive’s base salary rate immediately prior to such termination plus an amount equal to the average of the immediately preceding three (3) year’s annual bonuses paid to Executive. In addition, Executive shall be provided medical, hospitalization, dental, vision, pharmacy and term group life insurances, at no cost to Executive for a term of twelve (12) months after any termination. In addition, Executive shall be entitled to be paid any amounts deferred or owed under any deferred compensation plan and be entitled to be paid at a minimum a pro-rata share of any amounts that would have otherwise been due to executive under any deferred bonus plan. Additionally, in the event of a Change in Control of the Company and if within thirty (30) days after the Change in Control the Executive tenders his resignation in conformity with Article 7.3 of the Agreement, Executive shall be entitled to be paid a lump sum termination fee to Executive in an amount equal to the greater of (i) Six-Hundred and Fifty Thousand Dollars ($650,000.00) or (ii) twenty-four (24) months of the Executive’s base salary rate immediately prior to such termination plus an amount equal to two (2) times the average of the immediately preceding three (3) year’s annual bonuses paid to Executive. Executive shall also be provided medical, hospitalization, dental, vision, pharmacy and term group life insurances, at no cost to Executive for a term of twenty-four (24) months after any termination. In addition, Executive shall be entitled to be paid any amounts deferred or owed under any deferred compensation plan and be paid at a minimum a pro-rata share of any amounts that would have otherwise been due to executive under any deferred bonus plan. A Change in Control of the Company shall mean a change in ...
