Benchmark Investments LLC v. Pacer Advisors, Inc.

Summary

The Court held that Benchmark’s notice of its intent to terminate under Section 6(c)(ii) did not itself terminate the ETF Services Agreement. Because the proposed reorganization was not approved and Benchmark never provided a separate termination notice under Section 6(c)(i), the parties reverted to the Agreement’s existing term and termination provisions. The Court reversed the Superior Court’s judgment and remanded with instructions to grant Benchmark summary judgment.