Effect of Termination Notice Sample Clauses
The "Effect of Termination Notice" clause defines the immediate and subsequent consequences that arise once a party issues a formal notice to terminate an agreement. Typically, this clause outlines which obligations between the parties will cease, which provisions will survive termination (such as confidentiality or payment of outstanding amounts), and the process for winding down ongoing activities. Its core practical function is to ensure both parties clearly understand their rights and responsibilities after termination is initiated, thereby reducing confusion and potential disputes during the contract's conclusion.
Effect of Termination Notice. Where Network Rail or the Train Operator has served a Termination Notice on the other:
(a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c);
(b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and
(c) this contract shall terminate on the later of:
(i) the date and time specified in the Termination Notice for the contract to terminate (or such later date and time as the party which served the Termination Notice notifies to the other before the date and time so specified); and
(ii) the date on which a copy of the Termination Notice is given to ▇▇▇.
Effect of Termination Notice. Where Network Rail or the Train Operator has served a Termination Notice on the other:
(a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c);
(b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and
(c) this contract shall terminate on the later of:
Effect of Termination Notice. Where Network Rail or the Train Operator has served a Termination Notice on the other:
Effect of Termination Notice. Where the CVL IM or the Train Operator has served a Termination Notice on the other:
Effect of Termination Notice. Upon termination of this Agreement, Client will pay Anchorage all Fees, as provided in the Order Form, and documented expenses for Services rendered to Client through the effective date of termination of this Agreement.
Effect of Termination Notice. Where the CVL IM or the Train Operator has served a Termination Notice on the other:
(a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c);
(b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and
(c) this contract shall terminate on the later of:
Effect of Termination Notice. Where Network Rail or Nexus has served a Termination Notice on the other:-
(1) the service of such Termination Notice shall not affect the parties’ continuing rights and obligations under this Agreement up to the date of termination as specified in the Termination Notice or such later date as the party which has served the Termination Notice may notify to the other following the service of the Termination Notice but prior to the date upon which it shall have been specified to have effect;
(2) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied or is deemed remedied; and
(3) this Agreement shall terminate on the date and time specified in the Termination Notice or such later date and time as the party which has served the Termination Notice may notify to the other prior to the date and time upon which it shall have been specified to have effect.
Effect of Termination Notice. (a) After receipt by the Trust Cash Manager or relevant Co-Trust Cash Manager of a Termination Notice pursuant to Clause 11.1, and on the date that a Successor Trust Cash Manager shall have been appointed by the Receivables Trustee pursuant to Clause 11.3, all authority and power of the Trust Cash Manager and any Co-Trust Cash Managers under this Deed shall pass to and be vested in a Successor Trust Cash Manager and, without limitation, the Receivables Trustee is hereby appointed, authorised and empowered (upon the failure of the Trust Cash Manager or any Co-Trust Cash Manager to cooperate in a timely manner) in order to secure the performance of the Trust Cash Manager or relevant Co-Trust Cash Manager in so doing to execute and deliver, on behalf of the Trust Cash Manager or relevant Co-Trust Cash Manager, as its attorney, all documents, records and other instruments upon the failure of the Trust Cash Manager or relevant Co-Trust Cash Manager to execute or deliver such documents, records or instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such transfer of such Trust Cash Manager or Co-Trust Cash Manager's rights and obligations;
(b) The Trust Cash Manager and any Co-Trust Cash Manager agrees to use all reasonable efforts and cooperate with the Receivables Trustee and such Successor Trust Cash Manager in effecting the termination of the responsibilities and rights of the Trust Cash Manager and any Co-Trust Cash Manager to conduct Trust Cash Management hereunder including, without limitation, the transfer to such Successor Trust Cash Manager of all authority of the Trust Cash Manager or Co-Trust Cash Manager to carry out Trust Cash Management functions in relation to the Receivables as provided for under this Deed.
(c) The Trust Cash Manager and any Co-Trust Cash Manager shall promptly transfer its electronic records or electronic copies thereof relating to the Receivables to the Successor Trust Cash Manager in such electronic form as the Successor Trust Cash Manager may reasonably request and shall promptly transfer to the Successor Trust Cash Manager all other records, correspondence and documents necessary for the Successor Trust Cash Manager to carry out Trust Cash Management in relation to the Receivables in the manner and at such times as the Successor Trust Cash Manager shall reasonably request.
(d) To the extent that compliance with this Clause 11.2 shall require the Trust Cash Manager...
Effect of Termination Notice. In the event that notice under Section 8.3 is given, and thereupon this Agreement shall terminate. In such case, the Borrower shall pay to the Lender on the Desired Termination Date, in accordance with the provision of Section 14, all obligations it owes to the Lender pursuant to this Agreement. Until the Borrower completes the performance of all obligations it owes to the Lender under this Agreement, the relevant provisions of this Agreement regarding the performance of such obligations shall remain in full force and effect.
Effect of Termination Notice. (a) After receipt by the Servicer or any Co-Servicer of a Termination Notice pursuant to Clause 4.1, and on the date that a Successor Servicer shall have been appointed by the Beneficiaries pursuant to Clause 4.3, all authority and power of the Servicer and any Co-Servicer under this Agreement shall pass to and be vested in a Successor Servicer and, without limitation, each Beneficiary is hereby appointed, authorised and empowered (upon the failure of the Servicer or any Co-Servicer to cooperate in a timely manner) in order to secure the performance of the Servicer or any Co-Servicer in so doing to execute and deliver, on behalf of the Servicer or any Co-Servicer, as its attorney, all documents, records and other instruments upon the failure of the Servicer or Co-Servicer to execute or deliver such documents, records or instruments, and to do and accomplish all other acts or things necessary or appropriate to effect the purposes of such transfer of servicing rights and obligations;
(b) The Servicer and, by its execution of the relevant Accession Notice, any Co-Servicer agrees to use all reasonable efforts and cooperate with the Beneficiaries and such Successor Servicer in effecting the termination of the responsibilities and rights of the Servicer and any Co-Servicer to conduct servicing hereunder including, without limitation, the transfer to such Successor Servicer of all authority of the Servicer and any Co-Servicer to service the Receivables provided for under this Agreement.
(c) The Servicer and any Co-Servicer shall promptly transfer its electronic records or electronic copies thereof relating to the Receivables to the Successor Servicer in such electronic form as the Successor Servicer may reasonably request and shall promptly transfer to the Successor Servicer all other records, correspondence and documents necessary for the continued servicing of the Receivables in the manner and at such times as the Successor Servicer shall reasonably request.
(d) To the extent that compliance with this Clause 4.2 shall require the Servicer or any Co-Servicer to disclose to the Successor Servicer information of any kind which the Servicer or such Co-Servicer reasonably deems to be confidential, the Successor Servicer shall be required to enter into such customary licensing and confidentiality agreements as the Servicer or Co-Servicer shall deem reasonably necessary to protect its interests.
(e) The Servicer and any Co-Servicer shall, on the date of any servicing ...