CANCELLATION VERSUS TERMINATION Clause Samples
The 'Cancellation Versus Termination' clause defines the distinction between canceling and terminating a contract. Typically, cancellation refers to ending the contract before it has begun or before performance is due, often nullifying future obligations, while termination ends an ongoing contract, usually affecting only future performance and leaving accrued rights and liabilities intact. For example, a party may cancel a contract if a condition precedent is not met, whereas termination might occur due to a breach after the contract has started. This clause ensures both parties understand the different legal consequences and procedures associated with each action, thereby reducing confusion and potential disputes over how and when a contract can be ended.
POPULAR SAMPLE Copied 1 times
CANCELLATION VERSUS TERMINATION. Cancellation of this agreement may be done by either the Student or UCF DHRL, but entitles UCF DHRL to rents and assessments either not yet due (such as pre-paid rents for some or all of the remainder of the semester or term), or charges in addition to amounts already paid or payable to UCF DHRL (such as a cancellation assessment for cancelled future semesters). Termination of this agreement is a completion of the agreement by either the Student or UCF DHRL that does not entitle UCF DHRL to additional rents or assessments. In either event, assessments already charged to the Student prior to termination or upon cancellation (i.e., late fees and cancellation fees) remain due and payable, and are not affected by the termination or cancellation.
CANCELLATION VERSUS TERMINATION. Cancellation of this Agreement may be done by DHRL or requested by Student. Cancellation of this Agreement entitles DHRL to rents and assessments either not yet due (such as pre-paid rents for some or all of the remainder of the semester or term), or charges in addition to amounts already paid or payable to DHRL (such as a cancellation fees). Termination of this Agreement is a completion of, or early release from, the Agreement; termination of the Agreement does not entitle DHRL to additional rents or assessments. In either event, assessments already charged to Student prior to termination or upon cancellation (i.e., late fees and cancellation fees) remain due and payable and are not affected by the termination or cancellation.