Grounds for contract termination Sample Clauses
The "Grounds for contract termination" clause defines the specific circumstances under which either party may legally end the contract before its natural expiration. This clause typically outlines events such as material breach, insolvency, or failure to perform essential obligations as valid reasons for termination. By clearly listing these grounds, the clause provides both parties with a transparent framework for ending the agreement if certain conditions are met, thereby reducing uncertainty and helping to manage risk in the contractual relationship.
Grounds for contract termination. 6.1. The Lender has right to terminate the agreement and all relevant contracts and require from the borrower immediate repayment of the liabilities in case if:
6.1.1. The Borrower or any third parties involved in loan provisioning agreements or their legal representatives violate responsibilities taken towards the lender;
6.1.2. Financial position of the Borrower (or guarantor) deteriorates and will endanger due and proper execution of the responsibilities;
6.1.3. The Borrower provides wrong and false information to the lender;
6.1.4. Items presented as loan provision get destroyed, damaged or decrease in value.
6.1.5. The loan is not used for due purpose by the Borrower;
6.1.6. Equity of the Borrower sharply goes down;
6.1.7. The case indicated in point 5.7 occurs;
Grounds for contract termination. This rural Land Lease Agreement may be terminated for the following reasons, namely:
(a) Upon the failure of the Lessor to deliver the land to the Lessee due to causes other than force majeure.
(b) Upon the failure of the Lessee to either undertake the work activity or develop in accordance with article 3.1 of this Lease Agreement.
(c) Upon the failure of the Lessee to settle the annual rental payments for two consecutive years.
Grounds for contract termination. A - This CONTRACT shall terminate for the common reasons as dictated by Spanish Law and for breach of the contractual obligations of this agreement.