Tolling. If the Employee violates any of the provisions of Section 4(b) or (c) above, the period during which the covenants set forth therein shall apply shall be extended one day for each day in which a violation of such covenants occurs. The purpose of this provision is to prevent the Employee from profiting from his own wrong if he violates such covenants.
Tolling. Subject to Section 19(h), if the Participant violates any of the restrictions of this Section 19, the period for all such restrictions shall automatically be extended by the period the Participant was in violation of them.
Tolling. In the event of the breach by the Executive of any Covenant, the running of the period of restriction shall be automatically tolled and suspended for the amount of time that the breach continues, and shall automatically recommence when the breach is remedied so that the Company shall receive the benefit of the Executive’s compliance with the Covenants. This paragraph shall not apply to any period for which the Company is awarded and receives actual monetary damages for breach by the Executive of a Covenant with respect to which this paragraph applies.
Tolling Expiration. A Participant’s Award Agreement may also provide that:
Tolling/Autoextender.Any period of restriction contained herein shall be extended and tolled for any period of breach, such that the Company and the Bank receive the full benefit of the bargain with respect to the agreed upon period of restriction.
Tolling Period. If Grantee is found by a court to have violated any restriction in Section 2 of this Agreement, he/she agrees that the time period for such restriction shall be extended by one day for each day that he/she is found to have violated the restriction, up to a maximum of 18 months.
Tolling of Covenants. If it is determined by an arbitrator or a court of competent jurisdiction that Executive has violated any of Executive’s obligations under Section 6(a), 6(c), 6(d), and 6(e), then the period applicable to each obligation that Executive has been determined to have violated automatically shall be extended by a period of time equal in length to the period during which such violation(s) occurred.
Tolling of Restrictive Periods. If the Executive violates any of the restrictions contained in Section 7, the restrictive periods shall be suspended and will not run in favor of the Executive until such time as the Executive cures the violation to the satisfaction of the Company.
Tolling of Statute of Limitations. Each and every statute of limitations or other applicable law, rule or regulation governing the time by which Administrative Agent must commence legal proceedings or otherwise take any action against any Borrower or any Guarantor with respect to any Specified Default or breach or default that exists on or prior to the expiration or termination of the Forbearance Period and arises under or in respect of the Credit Agreement or any other Loan Document shall be tolled during the Forbearance Period. Each Borrower and each Guarantor agrees, to the fullest extent permitted by law, not to include such period of time as a defense (whether equitable or legal) to any legal proceeding or other action by Administrative Agent in the exercise of its rights or remedies referred to in the immediately preceding sentence.
upon or after the breach of any material provision of this Agreement if the breaching Party has not cured such breach within days following receipt of written notice from the non-breaching Party requesting cure of the breach or, if such breach is not susceptible of cure within such sixty day period, the breaching Party has not taken appropriate steps to commence such cure during such -day period and continued to diligently pursue such cure in a manner reasonably assuring such cure within a reasonable period of time thereafter (not to exceed days). Any right to terminate under this Section 12.03(a) shall be stayed and the cure period tolled in the event that, during any cure period, the Party alleged to have been in material breach shall have initiated dispute resolution in accordance with Article XIII with respect to the alleged breach, which stay and tolling shall last so long as the allegedly breaching Party diligently and in good faith cooperates in the prompt resolution of such dispute resolution proceedings; or
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.