TERMINATION WITHOUT PRESCRIBED NOTICE Clause Samples

TERMINATION WITHOUT PRESCRIBED NOTICE. Assumptions:
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TERMINATION WITHOUT PRESCRIBED NOTICE. 5.5.1 If Seller terminates this Agreement or reduces the Contract Capacity thereof, without the notice prescribed, the provisions in Section 5.4 will all apply. Additionally, 5.5.2 Seller shall pay Edison an amount equal to: (1) the amount of Contract Capacity being terminated, times (2) the difference between the Current Contract Capacity Price and the Contract Capacity Price, times (3) the number of years and fractions thereof (not less than 1 year) by which the Seller has been deficient in giving prescribed notice. In the event that the Current Capacity Price is less than the Contract Capacity Price no payment under this Section 5.5.2 shall be due either Party.
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TERMINATION WITHOUT PRESCRIBED NOTICE. (a) If Seller terminates this Agreement, or all or a part of the contract capacity thereof, without the notice prescribed in Section D-2, the provisions prescribed in Section D-2 will all apply. Additionally: (b) Seller shall pay PGandE a sum equal to the amount by which the contract capacity is being terminated times the difference between the current firm capacity price on the date of termination for a term equal to the balance of the term of agreement and the contract capacity price, pro-rated for the length of notice given by multiplying by the difference between the prescribed length of notice and the actual notice given, with the difference divided by 12. In the event that the current firm capacity price is less than the contract capacity price, no payment under this Section D-3 shall be due either Party. This additional payment shall be computed using the following formula: Where G >/= 0 and where: G = additional payment. CC = the amount by which the contract capacity is being terminated. T = the current firm capacity price. CCP = the contract capacity price. H = the actual number of months notice given. J = the prescribed length of notice.
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TERMINATION WITHOUT PRESCRIBED NOTICE. If Seller terminates without prescribed notice, Seller will owe PGandE a refund [the calculation of which is described in Sections D-4(a)(1) and D-4(a) (2) of this example] and payment (G). This example demonstrates how the payment (G) is calculated. Assumptions: i. Term of agreement is 15 years; ii. Actual operation date is July 1, 1985; iii. Notice is given on January 1, 1990; and iv. Contract capacity is to be reduced by 10,000 kW on July 1, 1990; actual performance is from July 1, 1985 through July 1, 1990. The payment (G) is calculated as follows: (G) = CC x (T-CCP) x J-▇ G >= 0 12 Where: CC = The amount of contract capacity being terminated = 10,000 kW. T = the current firm capacity price $140/kW-yr is arbitrarily chosen for use in this example for a July 1, 1990 Operation Date and 10-year agreement term. CCP = the contract capacity price = $110/kW-yr. H = the actual number of months notice given = six months. J = the prescribed notice = twelve months. S.▇. #▇ ▇▇▇ ▇, ▇▇▇▇ The sample calculation is: G = CC x (T - CCP) x (J-▇) 12 G = 10,000 kW x ($140/kW-yr - $110/kW-yr) x (12 mos. - 6 mos.) 12 mos./yr G = $150,000 S.O. #2 May 7, 1984 APPENDIX E INTERCONNECTION CONTENTS Section Page E-2 POINT OF DELIVERY LOCATION SKETCH E-3 E-3 INTERCONNECTION FACILITIES FOR WHICH SELLER E-4 IS RESPONSIBLE S.O. #2 May 7, 1984
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TERMINATION WITHOUT PRESCRIBED NOTICE. (a) If Seller terminates this Agreement, or all or a part of the contract capacity thereof, without the notice prescribed in Section D-2, the provisions prescribed in Section D-2 will all apply. Additionally: (b) Seller shall pay PGandE a sum equal to the amount by which the contract capacity is being terminated times the difference between the current firm capacity price on the date of termination for a term equal to the balance of the term of agreement and the contract capacity price, pro-rated for the length of notice given by multiplying by the difference between the prescribed length of notice and the actual notice given, with the difference divided by 12. In the event that the current firm capacity price is less than the contract capacity price, no payment under this Section D-3 shall be due either Party. This additional payment shall be computed using the following formula:
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Related to TERMINATION WITHOUT PRESCRIBED NOTICE

  • Termination without Notice The Employer may terminate an Employee’s employment without notice if the Employee engages in serious misconduct.

  • Termination by the Executive Without Good Reason The Executive may terminate his employment on his own initiative for any reason upon 30 days’ prior written notice to the Company; provided, however, that during such notice period, the Executive shall reasonably cooperate with the Company (at no cost to the Executive) in minimizing the effects of such termination on the Company Group. Such termination shall have the same consequences as a termination for Cause under Section 6.2.

  • Leave Without Pay An employee shall not be entitled to payment for a public holiday falling during a period of leave without pay (including sick leave and military leave without pay) unless the employee has worked during the fortnight ending on the day on which the holiday is observed.

  • Termination Without Good Reason Executive shall have the right to terminate the Period of Employment and Executive’s employment hereunder at any time without Good Reason (as defined below) upon thirty (30) days prior written notice of such termination to the Company. Any such termination by the Executive without Good Reason shall be treated for all purposes of this Agreement as a termination by the Company for Cause and the provisions of Section 7(a) shall apply.

  • Termination Without Just Cause In the case of a termination of Executive’s employment hereunder Without Just Cause in accordance with Section 1.6.6, Executive shall be entitled to the following in lieu of any other compensation or benefits (under Section 1.4 of this Agreement or otherwise) from Employer: (i) Executive shall receive Termination Compensation each month during the Compensation Continuance Period, subject, however, to Executive’s compliance with Executive’s Section 2 covenants (including, without limitation, compliance with the noncompetition and nonsolicitation covenants of Section 2) for a one (1) year period following Executive’s Termination Date. (ii) Employer shall use their best efforts to accelerate vesting of any unvested benefits of Executive under any employee stock-based or other benefit plan or arrangement to the extent permitted by Code Section 409A or other applicable law and the terms of such plan or arrangement. (iii) Employer shall make available to Executive, at Employer’s cost, outplacement services by such entity or person as shall be designated by Employer, with the cost to Employer of such outplacement services not to exceed Twenty Thousand Dollars ($20,000). (iv) During the Compensation Continuance Period, Executive shall either continue to participate (treating Executive as an “active employee” of Employer for this purpose) in the same group hospitalization plan, health care plan, dental care plan, life or other insurance or death benefit plan, and any other present or future similar group employee benefit plan or program for which officers of Employer generally are eligible, on the same terms as were in effect prior to Executive’s Termination Date, or, to the extent such participation is not permitted by any group plan insurer, under comparable individual plans and coverage (to the extent commercially available). The Termination Compensation and other benefits provided for in this Section 1.7.3 shall be paid by Employer in accordance with the standard payroll practices and procedures in effect prior to Executive’s Termination Date. If Executive breaches Executive’s obligations under Section 1.7.3 or Section 2 of this Agreement, Executive shall not be entitled to receive any further Termination Compensation or benefits pursuant to this Section 1.7.3 from and after the date of such breach.