terminate

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terminate

To end.(1) For leases,this term implies an ending before the natural expiration time, as by default.When reviewing leases, pay close attention to the rights and responsibilities “upon termination”or “at expiration,”because these are two completely different circumstances. (2) For partnerships, it means the end of the partnership business and affairs, although that might technically be before formal dissolution of the partnership.(3) Under the Uniform Commercial Code,it means legally ending a contract,without default by either side.

References in periodicals archive ?
Phillips-Van Heusen said it was terminating the lease because the outlet mall had not lived up to a requirement to keep at least 70 percent of the available floor space leased.
The parent distributed its stock in the QSub to its shareholders, thus terminating the QSub election.
On October 21, 2005 Young-Shannon notified MacMillan that it was terminating the option agreement.
The second type of agreement, the "Old Redemption Agreement" only applied to two senior firm members and required them to sell their shares back to the firm at book value on a terminating event, determined as of the last day of the firm's prior tax year.
If the Mine Purchase does not close by December 1, 2005, either Apollo or Jipangu may terminate the agreement, provided that the terminating party has not breached the agreement in a manner that has prevented the closing.
The Service concluded that (1) the LLP would be an eligible S corporation, (2) the partnership agreement did not create a second class of stock terminating the election and (3) the LLP could make a QSub election for the S corporation.
NYSE:Q) today announced a new enhancement to Qwest's IP voice terminating service providing operating company number-based (OCN) billing to wholesale facilities-based carrier customers.
The ruling held that gain or loss from terminating the swap is neither spread over the entire term of the debt instrument nor accounted for entirely in the termination year.
New Business Unit is First to Offer Comprehensive Legal, Compliance, and Administrative Support for Plan Administrators in Lengthy, Difficult Process of Terminating 401(K) Plans
Employer filed Form 5310, Application for Determination for Terminating Plan, and the IRS issued a favorable determination letter.
SPACEHAB has entered into a rights agreement amendment, terminating the agreement effective July 13, 2005.