Alabama Clauses Relating to Termination and Liquidation of Venture
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How to fill out Clauses Relating To Termination And Liquidation Of Venture?
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FAQ
Termination grounds: A termination clause outlines the conditions or grounds under which parties can terminate the contract. These grounds may include failure to meet performance expectations, contract breach or nonperformance, mutual agreement, insolvency, and change in circumstances.
Termination for Breach or Nonperformance Such termination shall be effective immediately and automatically upon the expiration of the applicable notice period, without further notice or action by either Party. Termination shall be in addition to any other remedies that may be available to the non-breaching party.
Termination clauses, also sometimes called severance clauses, are written into employment contracts. The clause provides a pre-set agreement on what will happen when the employee is terminated in terms of how much notice they get and/or what sort of payment they will receive.
The term ?Termination for Cause? shall mean termination because of Executive's personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or ...
A termination clause contains language that could lead to an early end to the swap contract if either party experiences specific, predetermined events or changes in its financial status, or if other specific events outside the party's control will change its ability to legally maintain the contract.
To be enforceable, a termination clause should: (a) provide the employee with no less than his or her entitlement under minimum applicable standards legislation; and, (b) use clear language to confirm the amount of notice specified is a cap on the employee's entitlements.
Some versions of the Effect of Termination clause include obligations addressing termination fees and the obligation of a party to return or destroy information or documentation containing confidential information disclosed by the other party.