Common use of Terminating the Relationship Clause in Contracts

Terminating the Relationship. Either the Bank or the Dealer may terminate this Agreement without cause by giving ten (10) days written notice to the other of the intent to terminate. The Bank may terminate this Agreement on notice to Dealer upon the occurrence of any of the following events: a. Dealer shall fail to make any payment when due to the Bank under the terms of this Agreement, the Security Agreement, the Other Documents, or any other agreements between Dealer and the Bank. b. Any representation or warranty made by Dealer under this Agreement, the Security Agreement or Other Documents, or any other agreements between Dealer and the Bank shall prove to be incorrect when made or reaffirmed. c. Dealer shall fail to perform or observe any other term, covenant or condition contained in this Agreement, the Security Agreement, the Other Documents, or any other agreements between the Dealer and the Bank. d. Any default including but not limited to any payment default, occurring under any agreement or instrument relating to any indebtedness or obligation of Dealer to any person, corporation or other entity, other than the Banl~ and such default shall continue after the applicable grace period, if any, specified in such agreement or instrument. e. Dealer shall generally not pay its debts as such debts become due or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors or any proceeding shall be instituted by or against Dealer under any bankruptcy or insolvency law, or any proceeding shall be instituted by or against Dealer seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or a composition of Dealer or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors or seeking the entry of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property, or the Dealer shall take any action to authorize any of the actions set forth above in this section. f. A material adverse change in the Dealer's financial condition or operations which occurs after the date of this Agreement. No termination of this Agreement will affect the rights, interests or obligations of either party hereto which accrued or existed prior to such termination. The Dealer hereby waives any claim against the Bank for consequential or punitive damages arising from any act or admission of the Bank under this Agreement, including but not limited to any termination of this Agreement by the Bank.

Terminating the Relationship. Either the Bank or the Dealer may terminate this Agreement without cause by giving ten (10) days written notice to the other of the intent to terminate. The Bank may terminate this Agreement on notice to Dealer upon the occurrence of any of the following events: a. Dealer shall fail to make any payment when due to the Bank under the terms of this Agreement, the Security Agreement, the Other Documents, or any other agreements between Dealer and the Bank. b. Any representation or warranty made by Dealer under this Agreement, the Security Agreement or Other Documents, or any other agreements between Dealer and the Bank shall prove to be incorrect when made or reaffirmed. c. Dealer shall fail to perform or observe any other term, covenant or condition contained in this Agreement, the Security Agreement, the Other Documents, or any other agreements between the Dealer and the Bank. d. Any default including but not limited to any payment default, occurring under any agreement or instrument relating to any indebtedness or obligation of Dealer to any person, corporation or other entity, other than the Banl~ Bank and such default shall continue after the applicable grace period, if any, specified in such agreement or instrument. e. Dealer shall generally not pay its debts as such debts become due or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors or any proceeding shall be instituted by or against Dealer under any bankruptcy or insolvency law, or any proceeding shall be instituted by or against Dealer seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or a composition of Dealer or its debts under any law relating to bankruptcy, insolvency, reorganization or relief of debtors or seeking the entry of an order for relief or the appointment of a receiver, trustee, or other similar official for it or for any substantial part of its property, or the Dealer shall take any action to authorize any of the actions set forth above in this section. f. A material adverse change in the Dealer's financial condition or operations which occurs after the date of this Agreement. No termination of this Agreement will affect the rights, interests or obligations of either party hereto which accrued or existed prior to such termination. The Dealer hereby waives any claim against the Bank for consequential or punitive damages arising from any act or admission of the Bank under this Agreement, including but not limited to any termination of this Agreement by the Bank.