Early Termination Due to Default Clause Samples

Early Termination Due to Default. A. As provided in Section 7.5, this Agreement may be terminated by reason of the default of a party. B. If this Agreement is early terminated by City or Agency because of default of the Developer, the ▇▇▇▇▇▇▇ Money shall not be returned to Developer. If this Agreement is terminated by Developer due to the default of Agency or City before escrow closes on the sale of the Project Property, the ▇▇▇▇▇▇▇ Money shall be returned to Developer. In either event, all of the obligations and remedies set forth below apply.
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Early Termination Due to Default. A. As provided in Section 7.5, this Agreement may be terminated by reason of the default of a party.
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Early Termination Due to Default. In the event that either Principal or Marketer shall default in the performance of its obligations under this Agreement, the non-defaulting Party shall give written notice of the default to the defaulting Party. If after twenty (20) days the defaulting Party shall have failed to cure the default in its performance of this Agreement, in addition to any other remedies provided by law, or this Agreement the non-defaulting Party may terminate this Agreement by written notice of termination. For purposes of this Agreement, a Party shall be in default if: It becomes insolvent; or It is unable to meet its obligations under this Agreement; or Principal is unable to meet its obligations to Third Party Suppliers for Gas or transportation services for which Principal has appointed Marketer as agent for management. Its liabilities exceed its assets; or It makes a general assignment of substantially all of its assets for the benefit of its creditors, files a petition for bankruptcy or reorganization or seeks other relief under any applicable insolvency laws; or It has filed against it a petition for bankruptcy, reorganization or other relief under any applicable insolvency laws and such petition is not dismissed within sixty (60) days after it is filed. Obligations to make payments herein, including but not limited to accruing interest, shall service termination of the Agreement.
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Related to Early Termination Due to Default

  • Termination Due to Death If the Optionee’s employment terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect.

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

  • Early Termination In the absence of any material breach of this Agreement, should the Trust elect to terminate this Agreement prior to the end of the term, the Trust agrees to pay the following fees: a. all monthly fees through the life of the contract, including the rebate of any negotiated discounts; b. all fees associated with converting services to successor service provider; c. all fees associated with any record retention and/or tax reporting obligations that may not be eliminated due to the conversion to a successor service provider; d. all out-of-pocket costs associated with a-c above.

  • Termination Due to Death or Disability The expiration of one (1) year from the date of the death of the Optionee or cessation of an Optionee’s employment or contractual relationship by reason of disability (as defined in Section 5.1(g) of the Plan). If an Optionee’s employment or contractual relationship is terminated by death, any Option held by the Optionee shall be exercisable only by the person or persons to whom such Optionee’s rights under such Option shall pass by the Optionee’s will or by the laws of descent and distribution.

  • Termination Due to Retirement Upon termination of the Executive based on Retirement, no amounts or benefits shall be due the Executive under this Agreement, and the Executive shall be entitled to all benefits under any retirement plan of the Company and other plans to which the Executive is a party. Termination of the Executive’s employment based on “Retirement” shall mean termination of the Executive’s employment in accordance with a retirement policy established by the Board with the Executive’s consent.