Term & Automatic Termination Clause Samples

The 'Term & Automatic Termination' clause defines the duration of the agreement and the conditions under which it will end automatically. Typically, this clause specifies a fixed period for the contract to remain in effect and outlines specific events—such as breach of contract, insolvency, or failure to meet obligations—that trigger immediate termination without further action from either party. Its core practical function is to provide certainty regarding the contract's lifespan and to protect parties by ensuring the agreement ends promptly if critical issues arise, thereby reducing ongoing risk and ambiguity.
Term & Automatic Termination. This Agreement encompasses all Services that Consultant is responsible to perform within the time limits and Not-to-Exceed Fees set forth herein. Consultant will not undertake to provide Services where it reasonably appears that the Services cannot be provided and expenses cannot be incurred within said total compensation limit and the applicable Not-to- Exceed Fees of any Task Order.
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Term & Automatic Termination. No Task Order will be written which extends beyond the expiration date of this Agreement. Consultant will not undertake to provide Services where it reasonably appears that the Services cannot be performed and completed within the Term of this Agreement. Uncompleted and/or unfinished Task Orders will co-terminate with this Agreement.
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Term & Automatic Termination. This Agreement encompasses all Services that
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Term & Automatic Termination. This Agreement shall commence as of the Memorandum Date and will automatically terminate, without the requirement for further action by any Party, upon the Offering Termination Date; provided, however, that this Agreement may be terminated at an earlier date by the Dealer Manager or by the Company pursuant to this Section 11 (the date upon which this Agreement automatically terminates or is earlier terminated by a Party hereto is referred to herein as the “Termination Date”).
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Term & Automatic Termination. The term of this Easement shall commence upon execution and shall be recorded in the Public Records of Volusia County, Florida. Once either the fee simple ownership of the Temporary Armoring has been vested in the Grantor, or the Grantor fails to meet their
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Term & Automatic Termination. This Agreement and the obligations of the Parties hereunder shall automatically terminate upon the later of: (a) the date that is 24 months from the date hereof; or (b) the date that is 24 months from the expiration or termination of an indefeasible right of use agreement (IRU) or lease pertaining to the Project and executed by and between Columbus and
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Term & Automatic Termination. The term of this Easement shall commence upon execution and shall be recorded in the Public Records of Volusia County, Florida. The Easement be released, vacated, and automatically terminated five (5) years after execution of this easement. The Easement for sand placement shall be automatically terminated, released, and vacated in the area of the Property landward of any seawall constructed in the future.
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Term & Automatic Termination. Except as provided in Section 12(a), this Agreement shall commence as of DMA Effective Date and, unless sooner terminated pursuant to this Section 10(a) or by operation of law, shall expire at the end of the Offering Period. This Agreement (i) shall automatically terminate at the first occurrence of any of the following events: (a) the outside date for the Offering Period, (b) the Company is dissolved or liquidated, or (c) the Dealer Manager’s license or registration to act as a broker dealer shall be revoked or suspended by any federal, self-regulatory or state agency and such revocation or suspension is not cured within ten (10) days from the date of such occurrence (and this Agreement shall be deemed to be suspended during revocation or suspension period), (ii) may be terminated by the Company pursuant to Section 10(b) or (d) below, and (iii) may be terminated by the Dealer Manager pursuant to Section 10(c) below (the date upon which any of the above occur shall be referred to as the “Termination Date”). This Agreement shall continue in full force and effect unless terminated pursuant to this Section 10 as provided herein. Termination of this Agreement pursuant to this Section 10 shall be without liability of any party to any other party other than as provided in Section 8 and Section 9 hereof, which shall survive the expiration or early termination of this Agreement.
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Term & Automatic Termination. Except as provided in Section 11(a), this Agreement shall commence as of the date hereof and, unless sooner terminated pursuant to this Section 9(a) or by operation of law, shall expire at the end of the Offering Period. This Agreement (i) shall automatically terminate at the first occurrence of any of the following events: (a) the outside date for the Offering Period or (b) the Company is dissolved or liquidated, (ii) may be terminated by the Company pursuant to Section 9(b) below, and (iii) may be terminated by the Dealer Manager pursuant to Section 9(c) below (the date upon which any of the above occur shall be referred to as the “Termination Date”). This Agreement shall continue in full force and effect unless terminated pursuant to this Section 9 as provided herein. Termination of this Agreement pursuant to this Section 9 shall be without liability of any party to any other party other than as provided in Section 7 and Section 8 hereof, which shall survive the expiration or early termination of this Agreement.
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Related to Term & Automatic Termination

  • Automatic Termination This Agreement shall automatically and immediately terminate in the event of its “assignment” (as defined in the 1940 Act).

  • Term Termination 10.1. This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein. 10.2. This Agreement shall terminate in accordance with the following provisions: (a) At the option of the Company or the Trust at any time from the date hereof upon 180 days’ notice, unless a shorter time is agreed to by the parties; (b) At the option of the Company or the Trust, if Fund shares are not reasonably available to meet the requirements of the Variable Contracts. Prompt notice of election to terminate shall be furnished by the Company. The termination will be effective ten days after receipt of notice unless the Trust makes available a sufficient number of Fund shares to reasonably meet the requirements of the Variable Contracts within the ten-day period; (c) At the option of the Company, upon the institution of formal proceedings against the Trust, the Distributor or Adviser by the SEC, FINRA, or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in the Company’s reasonable judgment, materially impair the Trust’s, the Distributor’s or the Adviser’s ability to meet and perform their respective obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by the Company with said termination to be effective upon receipt of notice; (d) At the option of the Trust, the Distributor or the Adviser, upon the institution of formal proceedings against the Company by the SEC, FINRA, or any other regulatory body, the expected or anticipated ruling, judgment or outcome of which would, in Trust’s reasonable judgment, materially impair the Company’s ability to meet and perform its obligations and duties hereunder. Prompt notice of election to terminate shall be furnished by Trust with said termination to be effective upon receipt of notice; (e) At the option of the Company, in the event the Trust’s shares are not registered, issued or sold in accordance with applicable state or federal law, or such law precludes the use of such shares as the underlying investment medium of Variable Contracts issued or to be issued by the Company. Termination shall be effective immediately upon notice to the Trust; (f) At the option of the Trust if the Variable Contracts cease to qualify as annuity contracts or life insurance contracts, as applicable, under the Code, or if the Trust reasonably believes that the Variable Contracts may fail to so qualify. Termination shall be effective upon receipt of notice by the Company; (g) At the option of the Company, upon the Trust’s breach of any material provision of this Agreement, which breach has not been cured to the satisfaction of the Company within ten days after written notice of such breach is delivered to the Trust; (h) At the option of the Trust, upon the Company’s breach of any material provision of this Agreement, which breach has not been cured to the satisfaction of the Trust within ten days after written notice of such breach is delivered to the Company; (i) At the option of the Trust, if the Variable Contracts are not registered, issued or sold in accordance with applicable federal and/or state law. Termination shall be effective immediately upon such occurrence without notice to the Company; (j) At the option of the Company in the event that any Fund ceases to qualify as a Regulated Investment Company under Subchapter M of the Code or under any successor or similar provision, or if the Company reasonably believes that any Fund may fail to so qualify. Termination shall be effective immediately upon notice to the Trust; (k) At the option of the Company in the event that any Fund fails to meet the diversification requirements specified in Article II hereof or if the Company reasonably believes that any Fund may fail to meet such diversification requirements. Termination shall be effective immediately upon notice to the Trust; and (l) In the event this Agreement is assigned without the prior written consent of the Company, the Trust, the Distributor and the Adviser, termination shall be effective immediately upon such occurrence without notice. 10.3. Notwithstanding any termination of this Agreement pursuant to Section 10.2 hereof, the Trust shall, at the option of the Company, continue to make available additional Fund shares, as provided below, for so long as the Company desires pursuant to the terms and conditions of this Agreement, for all Variable Contracts in effect on the effective date of termination of this Agreement (“Existing Contracts”). Specifically, without limitation, if the Company so elects to make additional Fund shares available, the owners of the Existing Contracts or the Company, whichever shall have legal authority to do so, shall be permitted to reallocate investments in the Trust, redeem investments in the Trust and/or invest in the Trust upon the payment of additional premiums under the Existing Contracts. In the event of a termination of this Agreement, the Company, as promptly as is practicable under the circumstances, shall notify the Trust, the Distributor and the Adviser whether the Company elects to continue to make Fund shares available after such termination. If Fund shares continue to be made available after such termination, the provisions of this Agreement shall remain in effect. 10.4. Except as necessary to implement Variable Contract owner initiated transactions, or as required by state insurance laws or regulations, the Company shall not redeem the shares attributable to the Variable Contracts (as opposed to the shares attributable to the Company’s assets held in the Separate Accounts or invested directly), and the Company shall not prevent Variable Contract owners from allocating payments to a Fund that was otherwise available under the Variable Contracts, until thirty (30) days after the Company shall have notified the Trust of its intention to do so.