Continuation of Shamrock Operations Clause Samples

Continuation of Shamrock Operations. In the event GeoMet elects not to exercise the Option and ▇▇▇▇▇▇ elects to continue to operate Shamrock after the Option Period, Shamrock shall be entitled to retain 100% of the Net Profits generated during the Option Period provided that Shamrock shall agree to repay all amounts paid by GeoMet under paragraphs 2(b), 2(c) and 2(d). If ▇▇▇▇▇▇ elects to continue to operate Shamrock without the involvement of GeoMet, (A) unless otherwise provided in any Guaranty, each Guaranty shall cease and terminate as of January 31, 2007, except for Guaranties attributable to the business of Shamrock in January, 2007, which shall terminate on February 28, 2007; and (B) Shamrock shall repay GeoMet any sums advanced to Shamrock under Paragraphs 2(b), 2(c) and 2(d), with said sums to be paid in equal monthly payments over a period of eighteen (18) months, without interest thereon, with the first payment being due on February 28, 2007 and an equal payment being due each month thereafter until paid in full. Upon satisfaction of the requirements contained herein, and in the Acknowledgment, GeoMet and Shamrock shall have no further obligation or commitment unto the other. Upon repayment of all sums provided by GeoMet to or on behalf of Shamrock and the termination of each Guaranty, Shamrock shall retain all remaining sums and Shamrock and GeoMet shall cause the Restricted Account Agreement to be cancelled and removed from Shamrock’s accounts.
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Related to Continuation of Shamrock Operations

  • Continuation of Services The Contractor shall work with the current Subcontractor prior to cancellation date to ensure all consumer needs are identified and appropriate placements and transportation needs, as applicable, have been arranged. The Subcontractor shall maintain communication with the Contractor on the process of transferring consumers until all consumers are placed.

  • Continuation of the Company The Company shall not be dissolved upon the occurrence of any event that is deemed to terminate the continued membership of a Member, but rather the Company shall continue without dissolution, and its affairs shall not be required to be wound up.

  • CONTINUATION OF COMPANY In the event of an occurrence described in Section 1.04, if there is at least (1) one remaining Member, the remaining Member has the right to continue the business of the Company. The remaining Member’s successor, assignee, or transferee may continue the business of the Company, provided the successor, assignee, or transferee consents to the continuation in writing and submits any necessary filings to the office of the Secretary of State.

  • Continuation of Business Neither the Transfer of any Partnership Interest pursuant to Article 8 hereof nor the bankruptcy or withdrawal of a Partner shall cause the dissolution or termination of the Partnership or have any effect upon the continuance of the Partnership business. No Partner shall have a right to withdraw from the Partnership or to abandon any Partnership Interest.

  • Continuation of or Change in Business Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, engage in any business other than the development, manufacturing, sales and administration of safety products and related items, substantially as conducted and operated by such Loan Party or Subsidiary during the present fiscal year and businesses substantially related, incidental or ancillary thereto.