Brexit Trigger Events Sample Clauses
The "Brexit Trigger Events" clause defines specific circumstances related to the United Kingdom's withdrawal from the European Union that activate certain rights or obligations within a contract. Typically, this clause outlines what constitutes a Brexit-related event, such as changes in law, tariffs, or regulatory requirements, and specifies the contractual consequences that follow, like renegotiation or termination rights. Its core function is to provide a clear mechanism for addressing the legal and commercial uncertainties that may arise due to Brexit, thereby allocating risk and ensuring both parties know how to proceed if such events occur.
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Brexit Trigger Events. A Brexit Trigger Event means any of the following events if directly or solely caused by Brexit or any discussions, proposals, negotiations or any other steps taken by the UK government or a body in any other jurisdiction in anticipation of or related to preparation for Brexit:
Brexit Trigger Events. Where Dialight is adversely affected by a Brexit Trigger Event it may initiate a renegotiation of the terms of this Contract by serving a notice (a “Brexit Notice”) that gives reasonable details of the relevant Brexit Trigger Event and how it has been adversely affected by it.