Common use of Option to Terminate Clause in Contracts

Option to Terminate. In the event of any violation of Section 17.3, including any violation occurring prior to the Effective Date of this Contract which resulted directly or indirectly in one Party’s consent to enter into this Contract with the other Party, such Party may, at its sole option, terminate this Contract at any time and, except for obligations to pay in full in United States currency for the outstanding payment obligations hereunder, shall be relieved of any further obligation under this Contract.

Appears in 4 contracts

Samples: Supply Contract (Hawaiian Electric Co Inc), Supply Contract (Hawaiian Electric Co Inc), Inter Island Supply Contract for Petroleum Fuels (Hawaiian Electric Co Inc)

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Option to Terminate. In the event of any violation of Section 17.315.1, including any violation occurring prior to the Effective Date of this Contract which resulted directly or indirectly in one Partyparty’s consent to enter into this Contract with the other Partyparty, such Party party may, at its sole option, terminate this Contract at any time and, except for obligations to pay in full in United States currency for the outstanding payment obligations hereunder, shall be relieved of any further obligation under this Contract.

Appears in 3 contracts

Samples: Hawaiian Electric Co Inc, Hawaiian Electric Industries Inc, Hawaiian Electric Industries Inc

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Option to Terminate. In the event of any violation of Section 17.318.3, including any violation occurring prior to the Effective Date of this Contract Agreement which resulted directly or indirectly in one Party’s consent to enter into this Contract Agreement with the other Party, such Party may, at its sole option, terminate this Contract Agreement at any time and, except for obligations to pay in full in United States currency for the outstanding payment obligations hereunder, shall be relieved of any further obligation under this ContractAgreement.

Appears in 2 contracts

Samples: Fuels Terminalling Agreement (Hawaiian Electric Co Inc), Fuels Terminalling Agreement (Hawaiian Electric Co Inc)

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