Example ContractsClausesCessation of Benefits
Cessation of Benefits
Cessation of Benefits contract clause examples

Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

Cessation of Benefits. In the event of a breach by Executive of any of his obligations of this Agreement, he shall cease to be entitled to any further benefits under this Agreement.

Cessation of Service. Except as otherwise provided in Paragraph 5 below, should Participant cease Service for any reason prior to vesting in one or more Shares subject to this Award, then the Award will be immediately cancelled with respect to those unvested Shares. Participant shall thereupon cease to have any right or entitlement to receive any Shares under those cancelled units.

Cessation of Benefits. Executive’s eligibility to participate in any of the Company’s employee benefit plans will cease on the Termination Date, though Executive’s coverage may continue through the last day of the month in which the Termination Date occurs in accordance with the terms of the applicable employee benefit plans. To the extent that Executive currently participates in any of the Company’s group health plans, Executive may be eligible for continuation of such coverage as provided for in the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). Executive understands that COBRA continuation coverage, if any, will be at Executive’s expense, and requires timely and proper completion of the application form received from the COBRA administrative services provider; provided, however, that for the period ending on the 18-month anniversary of the Termination Date, Executive (or, if applicable, his qualifying beneficiary) shall be entitled to such coverage at an out-of-pocket premium cost that does not exceed the out-of-pocket premium cost applicable to similarly situated active employees (and their eligible dependents) of the Company.

Cessation. Any information which is Confidential Technology at the date of disclosure thereof to Licensee shall cease to be Technology, and Licensee, its Subsidiaries, and its sublicensees shall be released from the provisions of Section 5.1 as to such information on the date when, through no act or omission on the part of Licensee, its Subsidiaries, or its sublicensees, such information becomes # publicly known by way of a single publication in which such Confidential Technology is disclosed in reasonable detail, # so widely known and used in combination that it can be said to be generally available to the public or # is subsequently rightfully obtained without restriction on use or disclosure from sources other than [[Organization A:Organization]] having no confidential obligation in favor of [[Organization A:Organization]].

Cessation of Employment. The Employee’s employment with the Employer ceased on the date specified at the end of this Agreement; The Employee has no right to employment or to contract with the Released Parties in the future and if such an employ and/or contract is entered into it may be voided without any liability.

Cessation of Operations. Any cessation of operations by Borrower or any operating Subsidiary of Borrower for a period of 30 consecutive days.

Cessation of Business. Except # as otherwise expressly permitted hereunder or # the consignment of all or substantially of any Loan Party’s assets pursuant to and in accordance with the terms of the Servicing Agreements, any Loan Party shall take any action to liquidate all or substantially all of their personal property assets utilized in the operation of their Business, or employ an agent or other third party to conduct a program of closings, liquidations or “Going-Out-Of-Business” sales of all or substantially all of its business; or

Cessation of Benefits. Except as expressly provided otherwise in this Agreement, all of your [[Parent:Organization]] employee benefits shall cease upon your Separation Date, with the exception of approved disability benefits, which may continue, consistent with the terms of [[Parent:Organization]]’s disability benefit plan(s). You will be eligible to elect continued health insurance coverage under COBRA if you have chosen benefits under [[Parent:Organization]]’s plans.

Cessation of Payments and Benefits. In the event that you # file any charge, claim, demand, action or arbitration with regard to your employment, compensation or termination of employment under any federal, state or local law, or an arbitration under any industry regulatory entity, except in either case for a claim for breach of this Agreement or failure to honor the obligations set forth herein, or # breach any of the covenants contained in this Agreement, the Company shall be entitled to cease making any payments or providing any benefits due hereunder.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.