Term. The term of employment under this Agreement shall commence on the Commencement Date and shall continue for three (3) years thereafter (such three-year period, the “Initial Term”) unless sooner terminated as contemplated herein; provided, however, that, unless sooner terminated as contemplated herein, beginning on the first day after the Initial Term and on every anniversary of such date thereafter (each a “Renewal Date”), the then-existing term of this Agreement shall automatically be renewed one additional year (any such renewal term, an “Extension Period”) unless either party gives the other written notice of non-renewal not less than three hundred sixty-five days (365) days prior to the end of the Initial Term (or the Extension Period, as applicable). For the avoidance of doubt, notice of non-renewal of this Agreement given at any other time shall be void and ineffective. Written notice of non-renewal by Employer shall be solely pursuant to a duly adopted resolution of Employer’s board of directors (the “Board”). Upon the date of expiration of the term of this Agreement, Employee shall cease to be employed and shall have no further rights, including but not limited to rights under Section 8, or obligations hereunder, except obligations set forth in Sections 3, 10 and 11.
The Company will continue to employ the Executive for a period of one (1) year after the date of this Agreement (the “Initial Term”). This Agreement will automatically renew each year after the Initial Term for one (1) additional year (each a “Renewal Period”); provided, however, that either party may elect not to renew this Agreement for any Renewal Period by providing ninety (90) days’ written notice of such election prior to the end of the Initial Term or any Renewal Period. If this Agreement is not renewed by the Executive, no Severance Package shall be paid. If this Agreement is not renewed by the Company, the Executive shall be entitled to the Severance Package. Notwithstanding this Section 2.1, the Executive’s employment under this Agreement may be earlier terminated pursuant to Article 4.
Term of Employment. Subject to the terms of this Agreement, the Company shall employ Executive, and Executive shall serve the Company for a continuous term beginning on June 19, 2023 (the “Start Date”) and ending on the fifth anniversary of the Start Date (the “Initial Term”). On the day following the last day of the Initial Term and each anniversary thereof, the term of this Agreement shall be extended automatically for additional one (1)-year periods (each, a “Renewal Term”), on the same terms and conditions as set forth in this Agreement (as may be modified in writing from time to time by the parties), unless either party gives the other party written notice of its decision not to renew the term of this Agreement at least one-hundred and twenty (120) days prior to the end of the Initial Term or any Renewal Term. Notwithstanding the foregoing, either party may terminate this Agreement prior to the expiration of the Term of Employment pursuant to, and with the effect set forth in, Section 7. The period between the Start Date and the termination or expiration of Executive’s employment hereunder or pursuant to Section 7 is referred to herein as the “Term of Employment.”
Initial Term B-1 Loans. Subject to the terms and conditions set forth in Amendment No. 7, each of the following Term B-1 severally agrees to make to the Borrower on the Amendment No. 7 Effective Date, loans (collectively, the “Initial Term B-1 Loans”) denominated in Dollars as follows: # each Consenting Third Incremental Term Lender that elects the “Consent and Cashless Amendment” option on its Third Incremental Term Lender Consent agrees to have all of its outstanding Third Incremental Term Loans (or such lesser amount as may be notified to such Consenting Third Incremental Term Lender by the Administrative Agent or the Amendment No. 7 Arrangers prior to the Amendment No. 7 Effective Date) converted into a like principal amount of Initial Term B-1 Loans effective as of the Amendment No. 7 Effective Date, # each Additional Initial Term B-1 Lender severally agrees to make to the Borrower, loans (collectively, the “Additional Initial Term B-1 Loans”) denominated in Dollars in an aggregate amount equal to the amount of such Additional Initial Term B-1 Lender’s Additional Initial Term B-1 Commitment and # each Consenting Third Incremental Term Lender that elects the “Consent and Post-Closing Settlement” option on its Third Incremental Term Lender Consent agrees to have the entire amount of its outstanding Third Incremental Term Loans assigned to the Additional Initial Term B-1 at par on the Amendment No. 7 Effective Date and following the Amendment No. 7 Effective Date, such Consenting Third Incremental Term Lender (or its designated Affiliate, if agreed by the Amendment No. 7 Arrangers) shall purchase by assignment Initial Term B-1 Loans in an equal principal amount as its outstanding Third Incremental Term Loans or such lesser amount allocated to such Consenting Third Incremental Term Lender by the Amendment No. 7 Arrangers. Amounts borrowed under this Section 2.01(g) and repaid or prepaid may not be reborrowed. Initial Term B-1 Loans shall be made as Term SOFR Loans as further provided in Amendment No. 7. Each Consenting Third Incremental Term Lender hereby agrees to waive any entitlement to any breakage loss or expenses due under Section 3.05 with respect to the repayment of its Third Incremental Term Loans it holds as a Term Lender which have been replaced with Initial Term B-1 Loans.
Term. Except as expressly provided otherwise in this Services Agreement, or with respect to specific services as indicated on the Schedules hereto, the term of this Services Agreement shall be for an initial period commencing at 12:01 a.m. on the date immediately following the date hereof and ending on January 31, 2019 (the Initial Term). Effective between the respective Provider and Recipient, the Initial Term may be extended for an additional period ending on the one-year anniversary of the date hereof, or such other period set forth on [Schedule A] or [Schedule B] (the Renewal Term) at the request of a Recipient by written notice from such Recipient to its Provider, with copies to and ; any such notice shall be made not less than two months prior to the end of the Initial Term. The obligation of any Recipient to make a payment for services previously rendered shall not be affected by the expiration of the Initial Term or Renewal Term and shall survive such expiration and continue until full payment is made.
Renewal Premiums. The Ceding Company shall not accept additional premium in accordance with [Section 3.02] with respect to any tax sheltered Reinsured Policy, except as required by the express terms of such Reinsured Policy.
Non-Renewal. The Executive’s employment with the Company and the Period of Employment will terminate if the Period of Employment is not extended under [Section 1.3], with such termination to be effective at the end of the Period of Employment then in effect.
Non-Renewal. If the Company does not extend or renew this Agreement at the end of the Contract Period and you have not entered into a new contractual relationship with the Company, your continuing employment, if any, with the Company shall be “at-will” and may be terminated at any time by either party. If the Company terminates your employment during the one (1) year period commencing with the last day of the Contract Period while you are an employee at-will, the Company shall continue to pay your Salary (at the rate in effect on the date of termination) at the same time and in the same manner as if you had not terminated employment for the balance, if any, of such one (1) year period; provided, however, that # you shall not be entitled to such Salary continuation if the Company terminates your employment for reasons constituting Cause and # any such Salary continuation shall be subject to offset as set forth in [Section 11(d)] above, without giving effect to the one (1) year period referenced therein.
Initial Claim. In the event that an Employee, Director, Eligible Person, or Participant (or a person claiming through such Participant) claims to be eligible to participate in this Plan or to receive the settlement of RSUs deferred under this Plan, or claims any rights under this Plan, such claimant must complete and submit such claim forms and supporting documentation as will be required by the Plan Administrator, in its sole and absolute discretion. Likewise, any Participant (or a person claiming through such Participant) who feels unfairly treated as a result of the administration of the Plan, must file a written claim, setting forth the basis of the claim, with the Plan Administrator. In connection with the determination of a claim, or in connection with review of a denied claim, the claimant may examine this Plan, and any other pertinent documents generally available to Participants that are specifically related to the claim.
Initial Election. A Director’s Cash Account shall be paid in a lump-sum within 60 days after his/her Separation from Service; provided that the Director may elect (using a form approved by the Company) at the time of his/her initial Deferral Election to have his/her Cash Account paid in monthly installments over two to 20 years.
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