Termination of the Obligations Sample Clauses
The 'Termination of the Obligations' clause defines the conditions under which the parties' contractual duties and responsibilities come to an end. Typically, this clause outlines specific events or actions—such as completion of the contract, mutual agreement, breach, or the passage of a certain period—that trigger the cessation of obligations. By clearly specifying when and how obligations are terminated, this clause provides certainty to both parties and helps prevent disputes over lingering responsibilities after the contract concludes.
Termination of the Obligations. The obligations of the Servicer, the Seller and the Owner Trustee under this Agreement will terminate upon the earlier of the maturity or other liquidation of the last outstanding Receivable and the disposition of any amounts received upon liquidation of any remaining Receivables and the payment to the Noteholders and distribution to the Certificateholders by the Trust of all amounts required to be paid or distributed to them under the Indenture and the Trust Agreement.
Termination of the Obligations. Effective as of the Closing Date, the obligations due and owing under the Debenture shall be terminated.
Termination of the Obligations. Effective as of the Closing Date, the obligations due and owing under the Junie Franchise Agreement and the Myrick Franchise Agre▇▇▇▇▇ are terminated, including but not limited to the franchise fees due thereunder and the support obligations on the part of Health Franchise and Health Express referenced therein.