Further Termination Cash Flow Sample Clauses

The 'Further Termination Cash Flow' clause defines the financial obligations and procedures that apply when a contract is terminated before its scheduled end date. Typically, this clause outlines how any outstanding payments, settlements, or adjustments are to be calculated and paid between the parties upon early termination. For example, it may specify the method for determining amounts owed for services rendered up to the termination date or for unwinding ongoing financial arrangements. Its core practical function is to ensure that both parties have a clear understanding of their financial responsibilities in the event of early termination, thereby reducing disputes and facilitating a smoother contractual exit.
Further Termination Cash Flow. 7.1.1 In any case where the Lessor has prepared a Termination Cash Flow, the Lessor shall prepare a further cash flow (the "Further Termination Cash Flow") to take into account any change in any of the Variable Assumptions and/or the Termination Assumptions which has occurred and is known to the Lessor but which was not taken into account in the Termination Cash Flow. 7.1.2 The Further Termination Cash Flow shall be prepared on the same basis as the Termination Cash Flow and shall ensure that, in the light of changes in the Variable Assumptions and the Termination Assumptions and subject to either the receipt by the Lessor of a further single sum or the payment by the Lessor of a single sum on the last day of the month following that in which the Further Termination Cash Flow is prepared and delivered to the Lessee, the Notional Capital Outstanding on the Final Date for the Further Termination Cash Flow will be zero or as near thereto as may be.
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Related to Further Termination Cash Flow

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • Compensation in the Event of Termination In the event that the Executive’s employment hereunder terminates prior to the expiration of this Agreement for any reason provided in Section 5 hereof, the Company shall pay the Executive, compensation and provide the Executive and the Executive’s eligible dependents with benefits as follows:

  • Termination Following a Change in Control (a) In the event of the occurrence of a Change in Control, the Executive's employment may be terminated by the Company or a Subsidiary during the Severance Period and the Executive shall be entitled to the benefits provided by Section 4 unless such termination is the result of the occurrence of one or more of the following events: (i) The Executive's death; (ii) If the Executive becomes permanently disabled within the meaning of, and begins actually to receive disability benefits pursuant to, the long-term disability plan in effect for, or applicable to, Executive immediately prior to the Change in Control; or

  • Other Terminations If Executive’s service with the Company is terminated by the Company or by Executive for any or no reason other than as a Covered Termination, then Executive shall not be entitled to any benefits hereunder other than accrued but unpaid salary, bonus, vacation and expense reimbursement in accordance with applicable law and to elect any continued healthcare coverage as may be required under COBRA or similar state law.

  • Termination Following a Change of Control If the Employee's employment terminates at any time within eighteen (18) months following a Change of Control, then, subject to Section 5, the Employee shall be entitled to receive the following severance benefits: