Term; Termination Without Cause Clause Samples
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Term; Termination Without Cause. (a) Until this Agreement is terminated in accordance with its terms, this Agreement shall be in effect until the second anniversary of the Acquisition Date, and thereafter this Agreement shall be deemed renewed automatically for additional consecutive two-year periods unless a majority of the Board of Directors deliver to the Manager a notice of the Company’s intent to terminate this Agreement at least 30 days prior to renewal date.
(b) In the event that this Agreement is terminated in accordance with the provisions of Section 13(a) of this Agreement, the Company shall pay to the Manager, on the date on which such termination is effective, a termination fee (the “Termination Fee”) equal to the sum of (i) the average of the current Management Fee for the previous three full Contract Years (or such lesser number of full Contract Years as have elapsed) and (ii) all accrued but unpaid Incentive Compensation (including for the then current fiscal year). The obligation of the Company to pay the Termination Fee shall survive the termination of this Agreement.
(c) At least thirty (30) days prior to the end of the initial term or any renewal term after the end of the initial term, the Manager may deliver written notice to the Company informing it of the Manager’s intention not to renew the Agreement, whereupon this Agreement shall not be renewed and extended and this Agreement shall terminate effective on the end of the then current initial term or renewal term, as the case may be.
(d) In addition, the Manager may at any time, deliver written notice to the Company terminating this Agreement (and specifying the effective termination date) if so ordered by court processes or orders. In such event the Manager will make commercially reasonable efforts to give the Company advance notice. Upon such termination, the Company shall pay the Manager, on the date on which the termination is effect, all additional amounts owed to the Manager, including but not limited to all accrued but unpaid Incentive Compensation (including for the then current fiscal year).
(e) This Agreement will terminate automatically, without further action by any party, if (i) the SPA is terminated or abandoned or (ii) the Acquired Companies or the Businesses are merged with or the assets of which are otherwise combined with or into the Manager.
(f) This Agreement will terminate at the election of the Board of Directors in their sole discretion if a Manager Change of Control shall have occurred or will...
Term; Termination Without Cause. (a) This Agreement became effective on the Effective Date and shall continue in operation unless terminated in accordance with the terms hereof.
(b) Notwithstanding any other provision of this Agreement to the contrary, with not less than ninety (90) days’ prior written notice to the Manager (the “Termination Notice”), the Company may, without cause, terminate this Agreement (a “Termination Without Cause”) upon a unanimous vote of the Independent Directors. Upon a Termination Without Cause, the Company shall pay the Manager the Termination Fee before or on the last day of the term of this Agreement (the “Effective Termination Date”).
(c) The Manager may deliver written notice to the Company informing it of the Manager’s intention to terminate this Agreement upon no less than one hundred eighty (180) days’ notice, whereupon this Agreement shall terminate effective on the latter of (i) 180 days from the date such notice is sent or (ii) such latter date as the Manager may determine. The Company is not required to pay to the Manager the Termination Fee if the Manager terminates this Agreement pursuant to this Section 10(c).
(d) Except as set forth in this Section 10, a Termination Without Cause of this Agreement pursuant to this Section 10 shall be without any further liability or obligation of either party to the other, except as provided in Section 3(b), Section 5, Section 7, Section 8, Section 10(e), Section 13(b) and Section 14 of this Agreement.
(e) If the Company terminates this Agreement pursuant to this Section 10, the Company shall forfeit any controlling interest in any joint venture.
(f) If the Company terminates this Agreement pursuant to this Section 10, the Company shall, before the Effective Termination Date, cause the name of the Company to be changed to omit reference to “KKR,” and the Company, any successor manager or any other Person shall make no further use of “KKR” or any similar name or any derivations thereof in relation to the activities of the Company.
(g) The Manager shall cooperate, at the Company’s expense, with the Company in executing an orderly transition of the management of the Company’s consolidated assets to a new manager.
Term; Termination Without Cause. The initial term of this Agreement shall commence as of the Effective Date and continue for one (1) year (the "Initial Term"). The Initial Term shall renew automatically from year to year, unless earlier terminated as set forth herein (each, a "Renewal Term"). The Initial Term and all Renewal Terms are collectively referred to herein collectively as the "Term." Either party may terminate this Agreement at will and without cause at any time upon ninety (90) days' prior written notice to the other party.
Term; Termination Without Cause. The term of this Agreement shall commence as of the date hereof and continue until terminated by either party with or without cause on written notice to the other given not less than thirty (30) days prior to the desired determination date. Cleer may terminate this Agreement immediately upon written notice to Dealer in the event any of the following shall occur; A breach of any of the terms or conditions of this Agreement by Dealer, including without limitations unauthorized sales activities; Either party becomes insolvent, is adjudicated a bankrupt or becomes a subject of dissolution, liquidation or involuntary bankruptcy proceedings or if either party proposes a judicial or extrajudicial settlement with its creditors, makes an assignment for the benefit of creditors, or otherwise discontinues its business; There is any change in Dealer’s control or management such that Cleer in its sole and absolute discretion deems detrimental to the continuation of this Agreement; or Cleer determines that Dealer has engaged in sales, advertising or other trade practices that Cleer, in its sole and absolute discretion, deems detrimental to reputation or goodwill of Cleer , or otherwise in a manner not befitting the status of the Products as high-quality items.
Term; Termination Without Cause. This Addendum is effective for 1 years and is automatically renewed for a period of one unless the Addendum is terminated. Either party may terminate this Addendum at any time upon thirty (30) days written notice by the other party.
Term; Termination Without Cause. The term of this Agreement shall commence on the Effective Date of this Agreement and continue until April 30, 2003 (the "Term"); provided, however, that either Party may terminate this Agreement at any time during the Term, for convenience and without cause, upon thirty (30) days prior written notice to the other Party. In addition, this Agreement may be terminated as follows:
Term; Termination Without Cause. (a) The initial term of this Agreement shall commence on the Effective Date and, unless sooner terminated as provided in this Section 8, shall continue for a period of three years from the Effective Date. On the third anniversary of the Effective Date and thereafter on each subsequent anniversary of the Effective Date until this Agreement is terminated as provided in this Section 8, the term of this Agreement shall be extended and automatically renew for successive one year additional terms.
(b) During the initial term of this Agreement, either Party may terminate this Agreement by providing formal written notice of its intention to do so [c.i.] in advance of each anniversary of the Effective Date.
(c) At any time after the initial term of this Agreement, either Party may terminate this Agreement at any time by providing formal written notice of its intention to do so [c.i.] in advance of such termination.
Term; Termination Without Cause. This Agreement begins on the date you first accept it and continues until all Subscription Terms have expired or the termination of all Licenses granted under this Agreement. Each License remains in effect for a one-month Subscription Term. You have the right to terminate this Agreement without cause by not renewing your Subscription Term. InfinityQS will charge you for any charges incurred before such cancellation, including the full Subscription Fees for the month during which you terminated the Agreement.
Term; Termination Without Cause