Example ContractsClausesTermination
Termination
Termination contract clause examples

Termination. This Agreement may be terminated as follows:

Termination. This Agreement and the Proxy delivered in connection herewith shall terminate automatically and shall have no further force or effect as of the Expiration Time.

Termination. Notwithstanding anything else in this Agreement to the contrary, if at any point in time # the Investors do not beneficially own, in the aggregate, at least five percent (5%) of the Company’s then-outstanding shares of voting capital stock (as such ownership is calculated pursuant to the rules of The NASDAQ Global Market) (as adjusted for any stock combinations, splits, recapitalizations, and the like after the Effective Date), or # the New Director or any Investor breaches any provision of this Agreement (either such event, a “Termination Event”), upon the Company’s request, the New Director shall promptly tender his or her resignation from the Board and the Company shall not have any further obligations under this Agreement. In order for the Company to determine the occurrence of a Termination Event under subsection # above, each Investor shall provide written notice to the Company within two (2) business days of any transaction that causes the Investors to fail to satisfy the 5% ownership threshold at any time

Termination. Except as otherwise provided in Section 2 hereof, any shares of Restricted Stock (including any Dividend Equivalents credited thereupon) that are not vested upon your Termination of Directorship shall, upon such Termination of Directorship, terminate and be forfeited in their entirety as of the date of such Termination of Directorship. For the purposes of this Agreement, “Termination of Directorship” means that you have ceased to be a director of the Company; provided, that in the event that you become an Eligible Employee or a Consultant upon your ceasing to be a director, a Termination of Directorship shall not be deemed to occur until such time as such you are no longer an Eligible Employee or Consultant.

TERMINATION. The Option Agreement is hereby terminated concurrently with the execution of this Agreement, and the Parties shall have no further obligations to each other under the Option Agreement, and the Option Agreement shall be of no further force and effect. In connection with such termination, neither Party shall be liable to the other Party for any termination payments. The Parties agree to take any and all actions necessary to effect this termination.

Termination. This Agreement shall terminate automatically and be of no further force or effect, without any notice or other action by any Person, upon the first to occur of # the valid termination of the Purchase Agreement in accordance with its terms, # the Closing, and # the mutual written consent of all of the parties hereto. Upon termination of this Agreement, no party shall have any further obligations or liabilities under this Agreement; provided, however, that solely in the event of a termination of this Agreement pursuant to [clause (i) above], # nothing set forth in this Section 5.2 shall relieve any party from liability for any willful and material breach of this Agreement prior to termination hereof and # the provisions of this Article V shall survive any termination of this Agreement.

Termination. Subject to [Section 10.3], this Agreement may be terminated prior to Closing as follows:

During the Term of this Agreement the Employee’s employment and this Agreement may be terminated by the Company with or without Cause (as hereinafter defined) immediately upon delivery of written notice of termination to the Employee; provided, however, in the event such termination is without Cause, then in such event, and subject to the Employee’s compliance with Section 5 of this Agreement, the Company shall continue to pay to the Employee, as severance pay, the Employee’s Annual Salary until that date which is four (4) years following the Effective Date of this Agreement.

Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before November 30, 2018; provided, however, that such termination will not affect the right of any party to sue for any breach by any other party (or parties).

Termination. Purchaser shall have the right to terminate this Contract (except the provisions of [Section 2.03] hereof that specifically survive a termination) for any reason or no reason during the Feasibility Period upon written notice of such termination (“Termination Notice”) to Seller not later than 5:00 PM Central Time on the last day of the Feasibility Period and the Deposit will be returned to Purchaser thereafter and the parties shall have no further obligation to each other, other than those duties and obligations of Purchaser that specifically survive a termination of this Contract as specified in [Section 2.03] hereof. If Purchaser does not serve its Termination Notice Waiver on the Seller prior to expiration of the Feasibility Period, the Contract shall remain in full force and effect and the Earnest Money shall be non-refundable and applicable to the Purchase Price, except in the event of a Seller’s default. Upon termination of this Contract for any reason whatsoever, Purchaser will deliver to Seller all final and non-confidential documentation with respect to the Property acquired by Purchaser in connection with its contemplated purchase and development of the Property, all at no cost to the Seller, and without any representation or warranty as to the completeness or accuracy of the reports or any other matter relating thereto, and Seller shall have no right to rely on any report without the written consent of the party preparing same. Notwithstanding anything to the contrary contained in this Contract, if Purchaser terminates this Contract on or before expiration of the Feasibility Period for any reason other than # the Title Commitment reveals a material adverse condition that Seller will not or cannot remedy, including, without limitation, any covenants, conditions, restrictions or declarations filed in the public real estate records unsatisfactory to Purchaser or # an environmental site assessment reveals a material adverse environmental condition on the Property that Seller will not or cannot remedy, then the $1,450,000.00 of the Deposit shall be returned to Purchaser and $50,000.00 of the Deposit shall be transferred to Seller.

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