Immediately upon Clause Samples
The "Immediately upon" clause establishes that a specified action or obligation must be performed without delay as soon as a particular event occurs. In practice, this means that once the triggering event happens—such as the signing of an agreement or the delivery of a notice—the responsible party is required to act at once, for example by making a payment or transferring property. This clause ensures prompt compliance and eliminates ambiguity about timing, thereby preventing unnecessary delays and disputes over when obligations must be fulfilled.
Immediately upon. (i) the receipt by the Builder (or any of its subcontractors) of any Buyer’s Supplies; and
(ii) the delivery to, or fabrication by, the Builder (or any of its subcontractors) of all other Parts, the Builder shall ▇▇▇▇ (or cause its relevant subcontractors to ▇▇▇▇) the same and the Ship (as it is from time to time built) with Hull number [*].
Immediately upon each Assignee's making its payment under the Assignment and Assumption, this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the Commitments arising therefrom. The Commitments allocated to each Assignee shall reduce such Commitments of the assigning Bank pro tanto.
Immediately upon a determination that a Holder or beneficial owner will not be licensed, qualified or found suitable, the Holder or beneficial owner will have no further rights (1) to exercise any right conferred by the Notes, directly or indirectly, through any trustee, nominee or any other Person or entity, or (2) to receive any interest or other distribution or payment with respect to the Notes or any remuneration in any form from the Issuers for services rendered or otherwise, except the redemption price of the Notes.
Immediately upon the Landlord giving notice to the Tenant that the Landlord has insured the Premises against any of the Insured Risks, the Tenant shall not maintain or take oat any insurance of the Premises for such risks in its own name.
Immediately upon. (A) the filing by a third-party with the United States Securities and Exchange Commission of any proxy or tender offer material evidencing an intent to gain control of the Company; (B) the mailing of a proxy statement by the Company to shareholders requesting an affirmative vote regarding a Change in Control; or (C) the receipt of information by the Company that 40 percent or more of its outstanding common stock has been acquired by any person (as defined under the 1934 Act), the Company shall contribute to an irrevocable grantor trust (a "Rabbi Trust") an amount sufficient to enable all potential amounts due to Employee under this Section to be paid. The Company shall provide Employee with a certification of the payment to such trust of all such amounts. All such amounts which are due to Employee shall be paid using the assets of said trust except to the extent its terms preclude such payment, in which event payment shall be made by the Company from its own funds, or unless the Company elects to pay any or all such amounts from its own funds.
Immediately upon. TCI giving Employee written notice of the termination of Employee's employment without cause. Employee shall be entitled to the following benefits.
I. Employee continues to receive as severance pay Employee's then current monthly base salary for a period of twelve months from the actual date of termination.
II. Should Employee timely elect to exercise any rights to continue health insurance under COBRA, TCI shall pay the cost of the continuation coverage for a period of twelve months from the actual date of termination after which period the cost of any further continuation coverage shall be solely at Employee's expense.
III. TCI shall pay the cost of disability and life insurance coverage for a period of twelve months from the actual date of termination after which period the cost of any further coverage shall be solely at Employee's expense.
IV. Employee's unvested stock options shall vest in their entirety and Employee shall have ten years from date of issuance to exercise stock options.
Immediately upon binding the Coverholder shall issue evidence of insurance to the insured or the insured’s agent. Certificates and endorsements shall be issued as soon as practicable, but in any event, no later than 30 days after inception, or in accordance with local law;
Immediately upon a Change in Control (as defined in Section 11), and regardless of whether or not Executive is retained by the new company, the Company will pay Executive twelve (12) months’ pay based on Executive’s then current base salary, to be paid in accordance with the Company’s regular payroll practices (“Change in Control Compensation”). If Executive’s employment with the new company thereafter terminates under any circumstance within 12 months of such Change in Control, Executive will not be entitled to the severance pay provided for under Section 5(b)(iii) hereof other than in an amount equivalent to such portion of the Change in Control Compensation that Executive has not then already received.
Immediately upon signing Contract, review
Immediately upon a determination that a Lender has become a Departing Lender under clause (v) of Section 14.6.1, or a Participant has become a Departing Participant under Section 14.6.2, the Lender (or Participant, as applicable) will have no further rights to exercise any right (voting or otherwise) in connection with the Loans and Commitments.