COMMENCEMENT AND TERMINATION Clause Samples
The 'Commencement and Termination' clause defines when an agreement begins and the conditions under which it ends. Typically, it specifies the effective date of the contract and outlines scenarios or notice requirements for ending the agreement, such as expiration, breach, or mutual consent. This clause ensures both parties are clear on the duration of their obligations and the process for concluding their relationship, thereby reducing uncertainty and potential disputes.
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COMMENCEMENT AND TERMINATION. 10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.
10.2 This Agreement shall terminate without penalty:
a. As to any Participating Fund, at the option of Insurance Company or the Participating Fund at any time from the date hereof upon 180 days' notice, unless a shorter time is agreed to by the respective Participating Fund and Insurance Company;
b. As to any Participating Fund, at the option of Insurance Company, if shares of that Participating Fund are not reasonably available to meet the requirements of the Contracts as determined by Insurance Company. Prompt notice of election to terminate shall be furnished by Insurance Company, said termination to be effective ten days after receipt of notice unless the Participating Fund makes available a sufficient number of shares to meet the requirements of the Contracts within said ten-day period;
c. As to a Participating Fund, at the option of Insurance Company, upon the institution of formal proceedings against that Participating Fund by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Insurance Company's reasonable judgment, materially impair that Participating Fund's ability to meet and perform the Participating Fund's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by Insurance Company with said termination to be effective upon receipt of notice;
d. As to a Participating Fund, at the option of each Participating Fund, upon the institution of formal proceedings against Insurance Company by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in the Participating Fund's reasonable judgment, materially impair Insurance Company's ability to meet and perform Insurance Company's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by such Participating Fund with said termination to be effective upon receipt of notice;
e. As to a Participating Fund, at the option of that Participating Fund, if the Participating Fund shall determine, in its sole judgment reasonably exercised in good faith, that Insurance Company has suffered a material adverse change in its business or financial condition or is the subject of material a...
COMMENCEMENT AND TERMINATION. The term of this Agreement shall commence upon the Effective Date; provided that the provision of BGS-RSCP Supply by BGS-RSCP Suppliers to BGS-RSCP Customers on the Company’s system shall commence at 00:01 a.m. on June 1, 20212022 and shall end at midnight on May 31, 20242025, unless this Agreement is terminated earlier in accordance with the provisions hereof.
COMMENCEMENT AND TERMINATION. The term of this Agreement shall commence upon the Effective Date; provided that the provision of BGS-CIEP Supply by BGS-CIEP Suppliers to BGS-CIEP Customers on the Company’s system shall commence at 00:01 a.m. on June 1, 20212022 and shall end at midnight on May 31, 20222023, unless this Agreement is terminated earlier in accordance with the provisions hereof.
COMMENCEMENT AND TERMINATION. This Exhibit shall apply to Policies issued or renewed by the Company or its representative at or after 12:01 A.M. Eastern Standard Time on January 1, 2005, and remain in force until December 31, 2014, but the Reinsurer shall have the right to terminate this Exhibit as of the end of any Agreement Year thereafter by giving at least 90 days written notice by certified or registered mail. In the event either party terminates this Exhibit in accordance with the paragraph above, the Reinsurer shall participate in all Policies ceded within the terms of this Exhibit, including those written or renewed by the Company after receipt of notice of cancellation but prior to termination, and shall remain liable for all cessions in force at termination of this Exhibit. However, the liability of the Reinsurer shall cease with respect to losses occurring subsequent to the first anniversary, natural expiration or cancellation of each Policy ceded, but not to extend beyond twelve months after such termination. If any Policy issued by the Company and covered by this Exhibit is terminated, the reinsurance shall also be terminated with respect to such Policy, subject, however, to any liability of the Company under the terminated Policy not to extend beyond the contractual obligations of such Policy. In the event of non-payment of Reinsurance Premiums due under this Exhibit, the Reinsurer shall have the right to terminate reinsurance under this Exhibit. If the Reinsurer elects to exercise its right of termination under such conditions, i.e., for nonpayment of premiums only, the Reinsurer shall give the Company 30 days' prior written notice by certified or registered mail of its intention to terminate such reinsurance. If all Reinsurance Premiums in arrears, including any which may become due during the 30 day period are not received by the Reinsurer before the expiration of such period, this Exhibit will be considered terminated on the date for which premiums were last paid, and the liability of the Reinsurer shall cease with respect to losses occurring after such date.
COMMENCEMENT AND TERMINATION. 10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.
10.2 This Agreement shall terminate without penalty as to one or more Series at the option of the terminating party:
a. At the option of Insurance Company or the Fund at any time from the date hereof upon 180 days' notice, unless a shorter time is agreed to by the parties;
b. At the option of Insurance Company, if shares of any Series are not reasonably available to meet the requirements of the Contracts as determined by Insurance Company. Prompt notice of election to terminate shall be furnished by Insurance Company, said termination to be effective ten days after receipt of notice unless the Fund makes available a sufficient number of shares to meet the requirements of the Contracts within said ten-day period;
c. At the option of Insurance Company, upon the institution of formal proceedings against the Fund by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Insurance Company's reasonable judgment, materially impair the Fund's ability to meet and perform the Fund's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by Insurance Company with said termination to be effective upon receipt of notice;
d. At the option of the Fund, upon the institution of formal proceedings against Insurance Company by the Commission, National Association of Securities Dealers or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in the Fund's reasonable judgment, materially impair Insurance Company's ability to meet and perform Insurance Company's obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by the Fund with said termination to be effective upon receipt of notice;
e. At the option of the Fund, if the Fund shall determine, in its sole judgment reasonably exercised in good faith, that Insurance Company has suffered a material adverse change in its business or financial condition or is the subject of material adverse publicity and such material adverse change or material adverse publicity is likely to have a material adverse impact upon the business and operation of the Fund or its investment adviser, the Fund shall notify Insurance Company in writing of such determination and its intent...
COMMENCEMENT AND TERMINATION. The term of this Agreement shall commence upon the Effective Date. Unless otherwise agreed upon by the Company and the DS Supplier, this Agreement shall continue in full force and effect from the Effective Date until the end of all Transaction(s) executed under this Agreement, unless the Agreement is terminated prematurely pursuant to the provisions of this Agreement.
COMMENCEMENT AND TERMINATION. 1. The Clauses shall become effective on the date of both parties’ signature.
2. Both parties shall be entitled to require the Clauses renegotiated if changes to the law or inexpediency of the Clauses should give rise to such renegotiation.
3. The Clauses shall apply for the duration of the provision of personal data processing services. For the duration of the provision of personal data processing services, the Clauses cannot be terminated unless other Clauses governing the provision of personal data processing services have been agreed between the parties.
4. If the provision of personal data processing services is terminated, and the personal data is deleted or returned to the data controller pursuant to Clause 11.1. and Appendix C.4., the Clauses may be terminated by written notice by either party.
COMMENCEMENT AND TERMINATION. 5.1 This Agreement shall take effect when executed and shall apply in relation to the year of account specified in the first Agents’ Syndicate List signed by both the Members’ Agent and the Managing Agent and to subsequent years of account unless and until terminated pursuant to any of the following provisions of this clause 5.
5.2 This Agreement shall terminate if there cease to be any Relevant Syndicates as defined in clause 1.1.
(a) Except in so far as the Council may otherwise direct, this Agreement shall be suspended forthwith if the Members’ Agent or the Managing Agent ceases for any reason to be an underwriting agent approved by the Council or if the Members’ Agent’s right to act as a members’ agent or the Managing Agent’s right to act as a managing agent is suspended in whole or in part by the Council and, subject to the following provisions of this clause 5.3, shall terminate on the expiration of the period of seven days from the date of such cessation or suspension, or of such longer period as the Council may before the expiration of that seven day period allow.
(b) If before the expiration of the period referred to in paragraph (a) above the Members’ Agent or, as the case may be, the Managing Agent has delegated the services to be provided, the duties to be performed and the powers to be exercised by it under the Members’ Agent’s Agreements or, as the case may be, the Managing Agent’s Agreements between it and the Names (or such services, duties and powers as may in the circumstances be appropriate) pursuant to clause 11.3(b) of the relevant Members’ Agent’s Agreements or, as the case may be, Managing Agent’s Agreements, this Agreement shall, subject to the requirements of the Council, continue in effect (to the extent appropriate) between the Managing Agent or, as the case may be, the Members’ Agent and the person or persons to whom such services, duties and powers have been delegated.
(c) If before the expiration of the period referred to in paragraph (a) above a Substitute Agent has been appointed by the Council to act for the Names in place of the Members’ Agent or the Managing Agent, this Agreement shall, subject to the requirements of the Council, continue in effect (to the extent appropriate) between the Managing Agent or, as the case may be, the Members’ Agent and that Substitute Agent.
(d) If any suspension of the Members’ Agent’s right to act as a members’ agent or, as the case may be, the Managing Agent’s right to act as a managing ag...
COMMENCEMENT AND TERMINATION. 10.1 This Agreement shall continue in force until terminated in accordance with the provisions herein.
10.2 This Agreement shall terminate without penalty as to one or more Portfolios:
(a) at any time from the date hereof upon 60 days' written notice by any party;
(b) at the option of Insurance Company if it determines that shares of any Portfolio are not reasonably available to meet the requirements of the Contracts; Insurance Company shall furnish prompt written notice of election to terminate and termination shall be effective ten days after receipt of written notice unless Fund makes available a sufficient number of shares to meet the requirements of the Contracts within such ten day period;
(c) at the option of Insurance Company upon the institution of formal proceedings against Fund or ▇▇▇ or their respective affiliates by the Commission or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Insurance Company's reasonable judgment, materially impair the other's ability to meet and perform its obligations and duties hereunder; prompt written notice of election to terminate shall be furnished with termination to be effective as specified therein;
(d) at the option of Fund upon the institution of formal proceedings against Insurance Company or Contract Distributor or their respective affiliates by the Commission, the NASD or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Fund's reasonable judgment, materially impair the other's ability to meet and perform its obligations and duties hereunder; prompt written notice of election to terminate shall be furnished with termination to be effective as specified therein;
(e) at the option of Insurance Company, if Insurance Company determines in its sole judgment exercised in good faith, that Fund or ▇▇▇ has suffered a material adverse change in its business, operations or financial condition since the date of this Agreement or is the subject of material adverse publicity which is likely to have a material adverse impact upon the business and operations of Insurance Company, such termination to be effective sixty (60) days after receipt by Fund and ▇▇▇ of written notice of the election to terminate;
(f) at the option of Fund and ▇▇▇, if Fund and ▇▇▇ determine in their sole judgment exercised in good faith, that Insurance Company has suffered a material adverse change in its business, operations or financial con...
COMMENCEMENT AND TERMINATION. A. This Contract shall become effective at 12:01 a.m., Eastern Standard Time, July 1, 2011, with respect to losses arising out of loss occurrences commencing at or after that time and date, and shall remain in force until 12:01 a.m., Eastern Standard Time, July 1, 2012.
B. Notwithstanding the provisions of paragraph A above, the Company may terminate a Subscribing Reinsurer's percentage share in this Contract at any time by giving written notice to the Subscribing Reinsurer in the event any of the following circumstances occur:
1. The Subscribing Reinsurer's policyholders' surplus (or its equivalent under the Subscribing Reinsurer's accounting system) at the inception of this Contract has been reduced by more than 20.0% of the amount of surplus (or the applicable equivalent) 12 months prior to that date; or
2. The Subscribing Reinsurer's policyholders' surplus (or its equivalent under the Subscribing Reinsurer's accounting system) at any time during the term of this Contract has been reduced by more than 20.0% of the amount of surplus (or the applicable equivalent) at the date of the Subscribing Reinsurer's most recent financial statement filed with regulatory authorities and available to the public as of the inception of this Contract; or
3. The Subscribing Reinsurer's A.M. Best's rating has been assigned or downgraded below A- and/or Standard & Poor's rating has been assigned or downgraded below BBB+; or
4. The Subscribing Reinsurer has become merged with, acquired by or controlled by any other entity or individual(s) not controlling the Subscribing Reinsurer's operations previously; or
5. A State Insurance Department or other legal authority has ordered the Subscribing Reinsurer to cease writing business; or
6. The Subscribing Reinsurer has become insolvent or has been placed into liquidation, receivership, supervision, administration, winding-up or under a scheme of arrangement, or similar proceedings (whether voluntary or involuntary) or proceedings have been instituted against the Subscribing Reinsurer for the appointment of a receiver, liquidator, rehabilitator, supervisor, administrator, conservator or trustee in bankruptcy, or other agent known by whatever name, to take possession of its assets or control of its operations; or
7. The Subscribing Reinsurer has reinsured its entire liability under this Contract without the Company's prior written consent; or
8. The Subscribing Reinsurer has ceased assuming new or renewal property or casualty treaty ...