Continuance Clause Samples
A Continuance clause defines the circumstances under which a legal proceeding or contractual obligation may be postponed or rescheduled to a later date. In practice, this clause allows either party, or sometimes the court or an arbitrator, to request a delay due to reasons such as the unavailability of key participants, the need for additional evidence, or unforeseen events. Its core function is to provide flexibility in scheduling, ensuring that all parties have a fair opportunity to prepare and participate, thereby promoting procedural fairness and preventing undue hardship caused by rigid timelines.
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Continuance. This Agreement will continue in effect from year to year so long as its continuance is specifically approved annually by vote of the Company's Board of Directors in the manner described in Section 2 above.
Continuance. The Corporation will give to the Indemnified Party 20 days notice of any application by the Corporation for a certificate of continuance or the equivalent thereof in any jurisdiction, indicating the jurisdiction in which it is proposed that the Corporation will be continued and the proposed date of continuance. Upon receipt of such notice, the Indemnified Party may require the Corporation to agree to such amendments to this Agreement as the Indemnified Party, acting reasonably, considers necessary or desirable in order to provide the Indemnified Party with a comprehensive indemnity under the laws of the proposed jurisdiction of continuance.
Continuance. The Parties hereby confirm that the provisions of the Receivables Transfer Agreement and the other Transaction Documents shall continue in full force and effect, subject only to the amendments effected thereto by this Amendment.
Continuance. This Plan shall continue in effect indefinitely, provided that such continuance is approved at least annually by a vote of a majority of the Directors, and of the Qualified Directors, cast in person at a meeting called for such purpose.
Continuance. This Agreement and any related agreement shall continue in effect indefinitely, provided such continuance is specifically approved at least annually in the manner provided for in Article V.
Continuance. The Sole Member hereby agrees to continue the Company as a limited liability company pursuant to the Delaware Act, upon the terms and subject to the conditions set forth in this Agreement. Any authorized officer or representative of the Company, as an “authorized person” within the meaning of the Delaware Act, shall file and record any amendments and/or restatements to the Certificate of Formation and such other certificates and documents (and any amendments or restatements thereof) as may be required under the laws of the State of Delaware and of any other jurisdiction in which the Company may conduct business. Such authorized officer or representative shall, on request, provide the Sole Member with copies of each such document as filed and recorded. The Sole Member hereby agrees that the Company shall be governed by the terms and conditions of this Agreement and, except as provided herein, the Delaware Act.
Continuance. Seniority shall continue to accrue during all paid leaves of absence. Properly authorized unpaid leaves of absence, employment by the Board in a position outside the bargaining unit, or a reduction in staff shall not break seniority; however, such time as the leave/break in employment extends will not be counted in calculating seniority.
Continuance. Each Borrowing initially shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to continue such Borrowing and may elect Interest Periods therefor, all as provided in this Section 2.04. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing.
Continuance. Any LIBOR Loan may be continued as such, in whole or in part, upon the expiration of an Interest Period with respect thereto if Borrowers gives Agent irrevocable written notice of continuance which notice must be in form and substance acceptable to Agent and received by Agent prior to 11:00 a.m. (Chicago time), at least two Business Days prior to the date of expiration of the Interest Period expiring with respect to the LIBOR Loan which is requested to be continued, specifying (i) the LIBOR Loan, or portion thereof, requested to be continued; (ii) the date of expiration of the Interest Period expiring with respect to the LIBOR Loan, or portion thereof, which is requested to be continued; and (iii) the length of the Interest Period with respect to such LIBOR Loan, or portion thereof, after the continuation thereof (the “Notice of Continuance”); provided that no LIBOR Loans may be continued as such when any Default or Event of Default has occurred and is continuing, but shall be automatically converted to a Prime Rate Loan on the last day of the Interest Period for such Loan. If Borrowers do not comply with the notice provisions of this clause (B), such LIBOR Loan shall be automatically converted to a Prime Rate Loan upon the expiration of the Interest Period with respect thereto. Promptly upon receipt of each Notice of Continuance, Agent shall advise each Lender thereof.
Continuance. Nothing under this Agreement obligates Member to remain a Consortium Member or pay any amount beyond the current year under the Agreement’s term. Because research of the type to be done by the Consortium takes time – and research results may not be obvious immediately – Member should understand that Consortium membership and participation of less than two years may produce only a limited benefit.