3Termination Clause Examples
The Termination clause defines the conditions under which either party may end the agreement before its natural expiration. It typically outlines the specific events or breaches that can trigger termination, such as non-payment, insolvency, or failure to perform contractual obligations, and may specify required notice periods or procedures for giving notice. This clause serves to provide both parties with a clear mechanism for exiting the contract if certain issues arise, thereby managing risk and ensuring that neither party is indefinitely bound to an unworkable agreement.
3Termination. Either party may terminate this Agreement if the other party (a) fails to cure a material breach of the Agreement within 30 days after receiving notice of the breach; (b) materially breaches the Agreement in a manner that cannot be cured; (c) dissolves or stops conducting business without a successor; (d) makes an assignment for the benefit of creditors; or (e) becomes the debtor in insolvency, receivership, or bankruptcy proceedings that continue for more than 60 days. In addition, either party may terminate an affected Order Form if a Force Majeure Event prevents the Product from materially operating for 30 or more consecutive days, and Provider will pay to Customer a prorated refund of prepaid fees for the remainder of the Subscription Period. A party must notify the other of its reason for termination.
3Termination. In the event that AGILENT terminates this Order in whole or in part as provided above, AGILENT may procure, upon such terms and in such manner as AGILENT deems appropriate, replacement goods or services, and Seller shall reimburse AGILENT upon demand for all additional costs incurred by AGILENT in purchasing such replacement goods or services.
3Termination. A legal defect that is not rectified and that is of such a nature that it is of significant importance to the other party shall provide the affected party with the right to terminate the Agreement.
3Termination. No termination shall become effective until the Parties have complied with all Applicable Laws and Regulations applicable to such termination, including the filing with FERC of a notice of termination of this Agreement (if required), which notice has been accepted for filing by FERC.
3Termination. On completion of the transfer required by clause 26.1 (except in so far as any of the requirements of that clause may be waived by the Institution), this Agreement shall terminate and, save as provided in clause , all rights and obligations of the Institution and the Private Party under this Agreement shall cease and be of no further force and effect.
3Termination. In the event of Developer's Termination, the Developer shall be entitled to retain 10% of the Price as pre- determined damages and refund the balance without any interest to the Purchaser, after deducting any other amount payable by the Purchaser by way of interest or otherwise but only after the Composite Unit has been sold to a third party and the amount to be paid to the Purchaser has been received from such third party provided however if the Composite Unit is not sold within 6 (six) months from the date of Developer's Termination, the Developer shall any way pay the amount refundable to the Purchaser.
3Termination. This Voting Agreement and the obligations of the parties hereunder shall automatically terminate upon the earliest to occur of (a) such date and time as the MOU shall have been validly terminated pursuant to its terms or (b) the consummation of each of the Fund Raising, Contribution and Spin-Off (such earliest date, the “Expiration Date”); provided, however, that the provisions of Article V shall survive any termination of this Voting Agreement.
3Termination. The Customer has the right to terminate all or part of the Framework Agreement with effect from three (3) months after written notice has been sent (calculated from det date notice is sent). This does not prevent The Parties from agreeing on a shorter notice period. The Customer has the right to terminate all or part of the Framework Agreement with immediate effect if there is repeated or prolonged delivery failure of the medicine. Prolonged delivery failure shall mean four (4) weeks of delivery failure. The Parties to this Framework Agreement are entitled to terminate all or part of the Framework Agreement with immediate effect if medical information emerges indicating that the medicine cannot be used as intended. Both Parties have the right to terminate the agreement if the medicine is not granted marketing authorization in EU. The Supplier has the right to terminate the agreement for new patients if the medicine is granted marketing authorization in EU, but the Supplier chooses not to market the medicine in Norway. The agreement cannot be terminated for patients already included and receiving treatment. After switching to commercial packages, the Supplier may, after giving the Customer written notice and reasonable time to rectify the situation, terminate a Treatment Agreement with immediate effect if the Customer uses the medicine to treat patients that are not enlisted in a Treatment Agreement. Any termination of the Framework Agreement must be in writing and substantiated.
3Termination. Ultimus or the Fund may terminate the Agreement entirely or on behalf of the Fund as set forth in the Agreement. Any such termination shall be treated as a termination of this Fee Letter, in which case the Adviser shall be responsible for payment of any amounts required to be paid under the Agreement, including, without limitation, any applicable Early Termination Fee, any reimbursements for cash disbursements made by Ultimus and any fee for post-termination de-conversion or liquidation services.
3Termination. The guaranty pursuant to this Section 13 shall remain in full force and effect until the date the Obligations have been paid in full in cash, and all commitments to extend credit have been terminated.