Non-Vessel FM Termination Amount Clause Samples

Non-Vessel FM Termination Amount. 3.1 The “Non-Vessel FM Termination Amount” shall be: (a) if the Termination Acquisition Notice is issued and 50% Acquisition Terms agreed within the 50% Acquisition Period, the Acquisition Price; or (b) in all other circumstances, the amount calculated in accordance with the following table, subject to paragraph 3.2 below. 98 SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY FILED WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH FIVE ASTERISKS (*****). Timing of termination (end of year) Non-Vessel FM Termination Amount (in US dollars) First Contract Year ***** Second Contract Year ***** Third Contract Year ***** Fourth Contract Year ***** Fifth Contract Year ***** Sixth Contract Year ***** Seventh Contract Year ***** Eighth Contract Year ***** Ninth Contract Year ***** Tenth Contract Year ***** Eleventh Contract Year ***** Twelfth Contract Year ***** Thirteenth Contract Year ***** Fourteenth Contract Year ***** Fifteenth Contract Year ***** Sixteenth Contract Year ***** Seventeenth Contract Year ***** Eighteenth Contract Year ***** Nineteenth Contract Year ***** Twentieth Contract Year ***** Twenty First Contract Year ***** Twenty Second Contract Year ***** Twenty Third Contract Year ***** Twenty Fourth Contract Year ***** Twenty Fifth Contract Year 7 ***** Twenty Sixth Contract Year ***** Twenty Seventh Contract Year ***** Twenty Eighth Contract Year ***** Twenty Ninth Contract Year ***** Thirtieth Contract Year ***** 3.2 In calculating the Non-Vessel FM Termination Amount payable by Company to Owner in accordance with the table above, if the date on which termination is effective does not coincide with the last day of the Contract Year in which it occurs, then: (a) the Non-Vessel FM Termination Amount shall be the amount in the table for the first Contract Year in respect of termination occurring at any time in the period starting with the Contract Date and ending with the end of the first Contract Year; (b) the Non-Vessel FM Termination Amount shall be the amount in the table for the twenty-first Contract Year in respect of termination occurring at any time in that Contract Year; and (c) save as provided for in paragraphs 3.2(a) and 3.2(b), the Non-Vessel FM Termination Amount shall be a linear proration between the amount in the table for that year and the year before.
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Related to Non-Vessel FM Termination Amount

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Commitment Termination Date the earliest to occur of (a) the Revolver Termination Date; (b) the date on which Borrowers terminate the Revolver Commitments pursuant to Section 2.1.4; or (c) the date on which the Revolver Commitments are terminated pursuant to Section 11.2.

  • Termination Apart from Change of Control In the event the Employee’s employment is terminated for any reason, either prior to the occurrence of a Change of Control or after the twelve (12) month period following a Change of Control, then the Employee shall be entitled to receive severance and any other benefits only as may then be established under the Company’s (or any subsidiary’s) then existing severance and benefits plans or pursuant to other written agreements with the Company.

  • Termination for Non-Payment We may terminate this Agreement with immediate effect by giving written notice to you if you fail to pay any amount due under this Agreement on the due date for payment and remain in default not less than thirty

  • Transfer to Avoid Termination Event If either an Illegality under Section 5(b)(i)(1) or a Tax Event occurs and there is only one Affected Party, or if a Tax Event Upon Merger occurs and the Burdened Party is the Affected Party, the Affected Party will, as a condition to its right to designate an Early Termination Date under Section 6(b)(iv), use all reasonable efforts (which will not require such party to incur a loss, excluding immaterial, incidental expenses) to transfer within 20 days after it gives notice under Section 6(b)(i) all its rights and obligations under this Agreement in respect of the Affected Transactions to another of its Offices or Affiliates so that such Termination Event ceases to exist. If the Affected Party is not able to make such a transfer it will give notice to the other party to that effect within such 20 day period, whereupon the other party may effect such a transfer within 30 days after the notice is given under Section 6(b)(i). Any such transfer by a party under this Section 6(b)(ii) will be subject to and conditional upon the prior written consent of the other party, which consent will not be withheld if such other party's policies in effect at such time would permit it to enter into transactions with the transferee on the terms proposed.