Common use of Contract Termination Clause in Contracts

Contract Termination. If at any time during the term hereof, XXXXX reasonably concludes that the solvency or financial condition of OWNERS is threatened it may, in its sole discretion, cancel this contract, such cancellation to take effect immediately upon receipt by OWNERS of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide to XXXXX evidence concerning their ability to meet their current and future financial obligations, XXXXX may, in its sole discretion, elect to reinstate this contract effective upon receipt by OWNERS of email or other written notification thereof.

Appears in 28 contracts

Samples: Towage Agreement, Towage Agreement, Towage Agreement

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Contract Termination. If at any time during the term hereof, XXXXX reasonably concludes that the solvency or financial condition of OWNERS is threatened it may, in its sole discretion, cancel this contract, such cancellation to take effect immediately upon receipt by OWNERS of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide to XXXXX evidence concerning their ability to meet their current and future financial obligations, XXXXX may, in its sole discretion, elect to reinstate this contract (with or without modifications thereto) effective upon receipt by OWNERS of email or other written notification thereof.

Appears in 19 contracts

Samples: Towage Agreement, Towage Agreement, Towage Agreement

Contract Termination. If at any time during the term hereof, XXXXX reasonably concludes that the solvency or financial condition of OWNERS is threatened it may, in its sole discretion, cancel this contractContract, such cancellation to take effect immediately upon receipt by OWNERS of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide to XXXXX evidence concerning their ability to meet their current and future financial obligations, XXXXX may, in its sole discretion, elect to reinstate this contract the Contract effective upon receipt by OWNERS of email or other written notification thereof.

Appears in 6 contracts

Samples: Towage Agreement, Towage Agreement, Exclusive Towage Agreement

Contract Termination. If at any time during the term hereof, XXXXX reasonably concludes that the solvency or financial condition of OWNERS is threatened it may, in its sole discretion, cancel this contractSchedule, such cancellation to take effect immediately upon receipt by OWNERS of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide to XXXXX evidence concerning their ability to meet their current and future financial obligations, XXXXX may, in its sole discretion, elect to reinstate this contract the Schedule effective upon receipt by OWNERS of email or other written notification thereof.

Appears in 5 contracts

Samples: Towage Agreement, Towage Agreement, www.morantug.com

Contract Termination. If at any time during the term hereof, XXXXX XxXxxxxxxx reasonably concludes that the solvency or financial condition of OWNERS Owner is threatened it may, in its sole discretion, cancel this contractContract, such cancellation to take effect immediately upon receipt by OWNERS Owner of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide Owner provides to XXXXX XxXxxxxxxx evidence concerning their its ability to meet their current and future financial obligations, XXXXX XxXxxxxxxx may, in its sole discretion, elect to reinstate this contract Contract effective upon receipt by OWNERS Owner of email or other written notification thereof.

Appears in 4 contracts

Samples: Everglades Towing Contract, www.mcallistertowing.com, www.mcallistertowing.com

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Contract Termination. If at any time during the term hereof, XXXXX XxXxxxxxxx reasonably concludes that the solvency or financial condition of OWNERS Owner is threatened it may, in its sole discretion, cancel this contractContract, such cancellation to take effect immediately upon receipt by OWNERS Owner of email or other written notification thereof. If, subsequent to cancelation, OWNERS provide Owner provides to XXXXX XxXxxxxxxx evidence concerning their ability to meet their current and future financial obligations, XXXXX XxXxxxxxxx may, in its sole discretion, elect to reinstate this contract Contract effective upon receipt by OWNERS Owner of email or other written notification thereof.

Appears in 1 contract

Samples: mcallistertowing.com

Contract Termination. If at any time during the term hereof, XXXXX XxXxxxxxxx reasonably concludes that the solvency or financial condition of OWNERS Owner is threatened it may, in its sole discretion, cancel this contractContract, such cancellation to take effect immediately upon receipt by OWNERS Owner of email or other written notification thereof. If, subsequent to cancelation, OWNERS Owner provide to XXXXX XxXxxxxxxx evidence concerning their ability to meet their current and future financial obligations, XXXXX XxXxxxxxxx may, in its sole discretion, elect to reinstate this contract Contract effective upon receipt by OWNERS Owner of email or other written notification thereof.

Appears in 1 contract

Samples: Towing of Baltimore

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