For example, it can be more difficult to
terminate a distributor (who buys products from the supplier and sells at risk) than a sales agent or representative (who solicits or facilitates sales for the supplier, earning a commission on each sale).
Thus, the regulations allow a taxpayer to partially or wholly
terminate a previously made GST trust election, by (1) terminating the election, (2) making an election out as to a particular transfer to the trust or (3) making an election out for any or all transfers to the trust.
The court concluded with affirming the right of the cooperative to
terminate the tenancy of Pullman pursuant to the terms and conditions of the proprietary lease wherein his conduct was declared to be objectionable, but cited certain cases where cooperative decisions for termination were not upheld:
When employee benefit issues and sources of liability can be identified at the outset, firms can make better decisions such as whether or not to proceed with the transaction; whether to
terminate, merge or acquire any given plan; and how to allocate responsibilities among the parties for handling potential liabilities.
Northwest's pilots say they will strike if the airline
terminates the contract.
Last year, the Tax Court ruled in Mourad (49) that a bankruptcy filing did not
terminate S status, nor did it create a new entity.
Some officers allege that the chief unduly influences command officers, pressuring them to
terminate employees.
While the owner had the right to
terminate the broker's employment, the jury found he had not, and the broker was held to have been justified in continuing his efforts and entitled to a commission for ultimately finding a ready, willing and able purchaser.
As of the consummation date of the acquisition, management having the appropriate level of authority begins to assess and formulate a plan to involuntarily
terminate (relocate) acquired employees.
As a result of these events, ElkCorp has the right to
terminate the Carlyle merger agreement upon payment to Carlyle of a termination fee of $29 million, and thereafter is free to accept BMCA's offer, which expires if not accepted on or before February 6, 2007.
In this regard, it is important to ensure that financial market participants have the ability to
terminate or close out and net financial market contracts and to realize on collateral pledged in connection with these contracts.
In the event the premises are damaged and untenantable as a result of fire, flood or other accidental destruction, does the landlord have the right to
terminate the lease?
For example, an exit plan includes a plant closure under which the enterprise will operate the plant for one year from the commitment date to fill outstanding customer orders and then
terminate all employees.
A default of Merrill Lynch under the prepaid gas agreement, including failure to deliver gas that is not related to force majeure, payment default or a bankruptcy of either the seller or its guarantor, provides the Authority with the option to
terminate the prepaid gas agreement.
The First Circuit recently held that an S corporation's filing of a bankruptcy petition and the appointment of a trustee did not automatically
terminate S corporation status.
