Termination by the Funder Clause Samples

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Termination by the Funder. The Funder may terminate this Agreement by providing ten (10) calendar days written notice to the Claimholder after the occurrence of any of the following events. The notice shall reasonably describe the alleged breach which is the basis of such termination and clearly state the Funder’s intent to terminate this Agreement if the alleged breach is not cured within ten (10) calendar days of the Claimholder’s receipt of the notice. (a) Any representation or warranty given by the Claimholder was untrue in any material respect as of the Initial Effective Date or the Restated Effective Date of this Agreement; (b) Any breach by the Claimholder of a material provision of this Agreement that has a material adverse effect on the value of the Subject Claim or the Proceeds; (c) An event, circumstance or condition has occurred or been discovered after the Initial Effective Date of the Agreement which would reasonably be expected to render it unlikely that the Claimholder Proceeds will be sufficient to pay the amounts corresponding to Sections 7.4(a) and Section 7.4(b) of this Agreement, as applicable, including the occurrence of any event or development with respect to the Subject Claim that has resulted or could reasonably be expected to result in the dismissal, discontinuation or denial of any material portion of the Subject Claim; or (d) Claimholder becomes insolvent and is subject to Insolvency Proceedings.
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Termination by the Funder. This Member Agreement terminates if and when the Funder: 27.1 Notifies the Members that:‌ 27.1.1 The Due Diligence was unsatisfactory; 27.1.2 In the Funder's opinion, a suitable Member with strong prospects of success in an Action is not willing to act as Representative; 27.1.3 In the Funder's opinion, there are insufficient Members in the Scheme; 27.1.4 The quantum of Claims is not sufficient for the Funder to commercially justify the likely costs of progressing the Action; or 27.1.5 In the Funder's opinion, it has an irreconcilable and unavoidable conflict of interest in continuing to be party to the Scheme; or 27.2 In its absolute discretion gives the Representative and/or all Members 15 Business Days written notice that Funder will exit the Scheme; or 27.3 In its absolute discretion gives the Member 15 Business Days written notice of termination of this Member Agreement; or 27.4 Expels the Member that is party to this Member Agreement from the Scheme pursuant to rule 26.‌
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Termination by the Funder. 15.1 The Funder is entitled to terminate its obligations under this LFA, other than obligations accrued, by issuing a Funding Termination Notice giving 7 days written notice to the Applicant that the LFA and the Funder 's obligations (other than obligations accrued) are terminated. 15.2 If the Funder’s appointment of the Lawyers to provide Legal Work to the Applicant is terminated, the Funder will promptly issue a Lawyers Termination Notice to the Applicant, and inform the Applicant whether the Funder wishes to appoint other solicitors in place of the Lawyers. 15.3 If sub-clause 15.2 applies and the Funder informs the Applicant that the Funder wishes to appoint other solicitors in place of the Lawyers, those solicitors will become the Lawyers for the purposes of this LFA in place of the existing Lawyers. If this occurs: a. it does not result in termination of this LFA, however the Applicant will have the right to terminate the LFA pursuant to sub-clause 16.1(b); and b. it will not result in the replacement solicitors asSuming any obligations of the Lawyers accrued to the date the appointment of the Lawyers is terminated. 15.4 If the Funder appoints other solicitors in place of the Lawyers, and the Applicant does not exercise its rights of termination of the LFA under sub-clause 16.1(b), then: a. the Applicant’s Legal Costs Agreement with the existing Lawyers will terminate under the terms of that Legal Costs Agreement; and b. the Applicant will enter into a new Legal Costs Agreement, on substantially the same terms, with the new Lawyers. 15.5 If sub-clause 15.2 applies and the Funder informs the Applicant that the Funder does not wish to appoint other solicitors in place of the Lawyers: a. This the Funder will terminate as at the date of such notice; b. the Funder remains liable for the obligations referred to in sub-clause 15.7; and c. it will not result in the replacement solicitors asSuming any obligations of the Lawyers accrued to the date the appointment of the Lawyers is terminated. 15.6 If the Funder terminates its obligations pursuant to sub-clauses 15.1 or 15.5, the Funder will continue to be entitled to receive amounts pursuant to sub-clause 11.1. 15.7 All obligations of the Funder under this LFA cease on the date the Funder’s termination becomes effective, save for obligations accrued to that date, and the Funder shall account to the Applicant for any money held by the Funder on behalf of the Applicant which is payable to the Applicant in respec...
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Termination by the Funder. 17.1. The Funder is entitled, at its sole discretion, to terminate its obligations under this Agreement, other than obligations accrued, by giving 7 days written notice to the Claimant that the Agreement and the Funder’s obligations are terminated. 17.2. If the Funder terminates its obligations pursuant to clause 17.1 above then it will not be entitled to any payment pursuant to clause 10.1(b) or 10.1
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Termination by the Funder. 24.1 Subject to Clause 8.4, to the extent not previously terminated pursuant to this Clause 24, the Funder’s obligation to fund the Action (including but not limited to the Funder’s obligations arising under Clauses 5.2 and 7.1 of this Agreement) shall terminate when the Costs Limit is reached or the Action is concluded, whichever is earlier. 24.2 Without affecting any other right or remedy available to it, but subject to Clause 28.2, the Funder may terminate this Agreement with immediate effect by giving written notice to the Class Representative if: 24.2.1 the Class Representative commits a material and irremediable breach of any term of this Agreement; 24.2.2 the Class Representative commits a material and remediable breach of this Agreement which is identified in writing by the Funder to the Class Representative and that breach has not been remedied by the Class Representative within 15 Business Days of notice by the Funder, or such longer period as may be reasonably necessary for the breach to be remedied, such period to be confirmed by the Funder in writing; 24.2.3 the Class Representative is unable to pay his debts as they fall due or is the subject of a bankruptcy petition or order; 24.2.4 the Class Representative (being an individual) dies or, by reason of illness or incapacity (whether mental or physical), is incapable of managing his own affairs; and/or 24.2.5 the Solicitors: 24.2.5.1 are unable to pay their debts as they fall due; 24.2.5.2 are the subject of any insolvency proceedings; 24.2.5.3 are the subject of any proceedings brought by the Solicitors Regulation Authority; 24.2.5.4 fail to maintain adequate professional indemnity insurance; or 24.2.5.5 receive notice that they are no longer representing the Class Representative, in each case, in circumstances where a suitable replacement fails to be appointed. 24.3 The Funder may terminate this Agreement, at any time, by giving the Class Representative 15 Business Days prior written notice that: 24.3.1 the Funder reasonably ceases to be satisfied about the merits of the Action, such a view to be reached based on independent legal and, where appropriate, expert advice that has been provided to the Funder; 24.3.2 the economic terms agreed by the Class Representative, the Solicitors and the Funder prior to the date of this Agreement (and as set out in the Priorities Agreement on the date of this Agreement) are required to be amended so that they are less favourable to the Funder in order to pro...
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Termination by the Funder 
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Related to Termination by the Funder

  • TERMINATION BY THE OWNER The Owner may terminate this Contract in accordance with the following terms and conditions: (A) The Owner may, for any reason whatsoever, terminate performance under this Contract by the Contractor for convenience. The Owner shall give written notice of such termination to the Contractor specifying when termination becomes effective. The Contractor shall incur no further obligations in connection with the work and the Contractor shall stop work when such termination becomes effective. The Contractor shall also terminate outstanding orders and subcontracts. The Contractor shall settle the liabilities and claims arising out of the termination of subcontracts and orders. The Owner may direct the Contractor to assign the Contractor's right, title and interest under termination orders or subcontracts to the Owner or its designee. The Contractor shall transfer title and deliver to the Owner such completed or partially completed work and materials, equipment, parts, fixtures, information and Contract rights as the Contractor has. When terminated for convenience, the Contractor shall be compensated as follows: (1) The Contractor shall submit a termination claim to the Owner specifying the amounts due because of the termination for convenience together with costs, pricing or other data required by the Owner. If the Contractor fails to file a termination claim within one (1) year from the effective date of termination, the Owner shall pay the Contractor, an amount derived in accordance with Subparagraph (3) below; (2) The Owner and the Contractor may agree to the compensation, if any, due to the Contractor hereunder; (3) Absent agreement to the amount due to the Contractor, the Owner shall pay the Contractor the following amounts: (a) Contract prices for labor, materials, equipment and other services accepted under this Contract; (b) Reasonable costs incurred in preparing to perform and in performing the terminated portion of the work, and in terminating the Contractor's performance, plus a fair and reasonable allowance for direct jobsite overhead and profit thereon (such profit shall not include anticipated profit or consequential damages); provided however, that if it appears that the Contractor would have not profited or would have sustained a loss if the entire Contract would have been completed, no profit shall be allowed or included and the amount of compensation shall be reduced to reflect the anticipated rate of loss, if any; (c) Reasonable costs of settling and paying claims arising out of the termination of subcontracts or orders pursuant to Subparagraph 19(A) of this Paragraph. These costs shall not include amounts paid in accordance with other provisions hereof. The total sum to be paid the Contractor under this Subparagraph 19(A) shall not exceed the total Contract Price, as properly adjusted, reduced by the amount of payments otherwise made, and shall in no event include duplication of payment. (B) If the Contractor does not perform the work, or any part thereof, in a timely manner, supply adequate labor, supervisory personnel or proper equipment or materials, or if it fails to timely discharge its obligations for labor, equipment and materials, or proceeds to disobey applicable law, or otherwise commits a violation of a material provision of this Contract, then the Owner, in addition to any other rights it may have against the Contractor or others, may terminate the performance of the Contractor and assume possession of the Project site and of all materials and equipment at the site and may complete the work. In such case, the Contractor shall not be paid further until the work is complete. After final completion has been achieved, if any portion of the Contract Price, as it may be modified hereunder, remains after the cost to the Owner of completing the work, including all costs and expenses of every nature incurred, has been deducted by the Owner, such remainder shall belong to the Contractor. Otherwise, the Contractor shall pay and make whole the Owner for such cost. This obligation for payment shall survive the termination of the Contract. In the event the employment of the Contractor is terminated by the Owner for cause pursuant to this Subparagraph 19(B) and it is subsequently determined by a Court of competent jurisdiction that such termination was without cause, such termination shall thereupon be deemed a Termination for Convenience under Subparagraph 19(A) and the provisions of Subparagraph 19(A) shall apply.

  • Termination by the Owner for Cause § 16.2.1 The Owner may terminate the Contract if the Contractor .1 repeatedly refuses or fails to supply enough properly skilled workers or proper materials;