Term Default and Termination Sample Clauses
The 'Term, Default and Termination' clause defines the duration of the agreement, the circumstances under which a party is considered to be in default, and the conditions that allow for the contract to be ended early. Typically, this clause specifies the start and end dates of the contract, outlines what constitutes a breach or default (such as failure to pay or perform obligations), and details the process for providing notice and remedying defaults before termination can occur. Its core practical function is to provide clear guidelines for how and when the contractual relationship can be concluded, thereby managing risk and ensuring both parties understand their rights and obligations regarding the contract's lifespan and potential early termination.
Term Default and Termination. 9.1 Term The initial Term of the agreement is stated in the Agreement Specifics. Either party may give written notice of termination to the other party at any time during the initial Term, provided that the termination will not take effect before the end of the initial Term. Unless so terminated, this Agreement continues after the initial Term until terminated by either party giving 60 days' written notice of termination to the other party.
Term Default and Termination a. The Term will begin on the Effective Date and will continue until terminated herein. Either Party may terminate these Master Terms or an Order if the other Party breaches any material term hereof and such breach is not cured within 30 days of the breaching Party receiving written notice of such breach. Buyer may terminate these Master Terms or an Order for any or no reason by providing Seller with at least 30 days prior written notice.
b. The following will apply upon ▇▇▇▇▇’s termination of any Order under this Section:
i. For Orders terminated following a breach by Seller of a material term thereof –Buyer will have the right to finish Services by any method Buyer deems expedient and/or obtain replacement Goods, and Seller will not be entitled to receive any further payment until such Services are completed and/or replacement Goods are obtained. If the reasonable expense to Buyer of finishing Services or obtaining replacement Goods exceeds the unpaid balance of the Contract Price, Seller will pay the difference to Buyer. In the event Buyer terminates these Master Terms or any Order, in whole or in part, Buyer may take possession and control of any or all materials, supplies, subcontracts, tools and appliances.
ii. For Orders for Custom Goods terminated within Lead Time – Buyer will reimburse Seller for Seller’s actual expenses incurred which can be supported with documentation reasonably satisfactory to Buyer, but in any event no greater than the Contract Price. Upon receipt of ▇▇▇▇▇’s notice of termination, Seller will make all commercially reasonable efforts to cease production of Custom Goods and minimize additional costs related thereto.
iii. For Orders for (a) Custom Goods terminated outside of Lead Time, and (b) Goods that are not Custom Goods the rights and obligations of the Parties will be the same as those arising in the event of a termination by Buyer upon the occurrence of a Force Majeure Event in accordance with Paragraph 3(b).
c. In the event of termination of an Order for any reason, upon receipt of Buyer’s notice of termination, Seller will cease all work under such Order and take appropriate steps to limit disbursements and minimize costs; and Seller will remove itself, any subcontractors, and their respective equipment, supplies, tools, materials and personnel from the Site within 10 days after the effective date of termination. Seller will immediately deliver to Buyer all copies of documents, records or other materials, whether in ele...
Term Default and Termination. (a) This Agreement comes into effect on the date of its execution and shall continue in force and effect for the term as stated in the Order.
(b) A party may terminate this Agreement for cause: (i) upon 30 days written notice to the other party of a material breach of this Agreement if such breach remains uncured at the expiration of such period; (ii) immediately upon written notice if the other party becomes the subject of a bankruptcy, insolvency, receivership, liquidation, assignment for the benefit of creditors or similar proceeding; and (iii) as otherwise provided herein.
(c) Upon termination of this Agreement, regardless of the cause of termination, the rights granted under this Agreement to use the ▇▇▇▇▇▇▇▇▇ Materials are immediately revoked. Within five (5) business days after the termination of this Agreement, for whatever reason, Customer shall return to ▇▇▇▇▇▇▇▇▇ all copies of the ▇▇▇▇▇▇▇▇▇ Materials in Customer’s possession or under the supervision or control of Authorised Users. In the alternative, upon request of ▇▇▇▇▇▇▇▇▇, Customer shall destroy all such copies of the ▇▇▇▇▇▇▇▇▇ Materials and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE CUSTOMER AND AUTHORISED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF THE ▇▇▇▇▇▇▇▇▇ MATERIALS. In the event of termination as a result of Customer’s failure to comply with any of its obligations under this Agreement, Customer shall continue to be obligated for any payments due as of the date of termination. Termination of the right to use the ▇▇▇▇▇▇▇▇▇ Materials shall be in addition to, and not in lieu of, any other remedies available to ▇▇▇▇▇▇▇▇▇.
(d) Any provision of this Agreement that expressly or by implication is intended to come into or continue force on or after termination or expiry of this Agreement shall remain in full force and effect.
Term Default and Termination. (a) This Agreement is effective from the Effective Date unless and until terminated by either party as provided below. If either party defaults in any material obligation in this Agreement, the other party shall give written notice of such default, and, if the party in default has not cured the default within 30 days of the notice, the other party shall have the right to terminate this Agreement.
(b) Upon termination of this Agreement, regardless of the cause of termination, the license granted under this Agreement to use the Licensed Software is immediately revoked. Within 10 business days after the termination of this Agreement, for whatever reason, Licensee shall return to Licensor all copies in whole, or in part, of the Licensed Software, updates, upgrades and Documentation in Licensee's possession, including all copies of the Licensed Software, updates, upgrades and Documentation under the supervision and control of Licensee and its Users. In the alternative, upon request of Licensor, Licensee shall destroy all such copies of the Licensed Software, updates, upgrades and Documentation and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE EITHER PARTY OR LICENSEE’S USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF EACH PARTY’S CONFIDENTIAL INFORMATION. If termination occurs as a result of Licensee's failure to comply with any of its obligations under this Agreement, Licensee shall continue to be obligated for any payments due as of the date of termination. Termination of the license shall be in addition to, and not in lieu of, any other remedies available to Licensor. If Licensor is required to initiate legal action to compel return of the Licensed Software or Documentation, Licensee acknowledges and agrees that Licensor shall be entitled to obtain a judicial order granting such possession without the need to post bond as security.
Term Default and Termination. 51 Section 18.01. Term..................................................................51 Section 18.02. Basis for Termination by Either Party.................................51 Section 18.03. Basis for Termination by Nycomed......................................51 Section 18.04. Basis for Termination by Acusphere....................................52 Section 18.05. Remedies..............................................................52 Section 18.06. Effect of Termination by Nycomed......................................53 Section 18.07. Effect of Termination by Acusphere....................................54 Section 18.08. License Following Expiration..........................................55 ARTICLE XIX MISCELLANEOUS...............................................................55 Section 19.01. No-Solicitation.......................................................55 Section 19.02. Assignment............................................................56 Section 19.03.
Term Default and Termination. (a) The term of this Agreement shall commence upon the Effective Date and shall continue for so long as Customer has valid Subscriptions, subject to earlier termination as provided in this Agreement.
(b) The initial Subscription Period shall commence on the date set out in the applicable Order Form and shall run for the period specified on the Order Form. The Subscription Period shall thereafter be automatically renewed for successive Subscription Periods each of equal duration to the initial Subscription Period unless either party gives the other notice of nonrenewal at least 30 days prior to the end of the initial or any successive Subscription Period.
(c) Precision may terminate this Agreement by written notice to Customer if Customer breaches any of Sections 2(a), 2(e), or 7(b), effective from the date of written notice.
(d) In the event either party defaults in any material obligation in this Agreement, the other party shall give written notice of such default, and, if the party in default has not cured the default within thirty (30) days after the notice (or five (5) days notice if supplied on a proof of concept or trial basis), the other party shall have the right to terminate this Agreement. Customer’s failure to pay all amounts due under this Agreement shall constitute a default of its material obligations.
(e) Either party may terminate this Agreement immediately upon the occurrence of any of the following events with respect to the other party: (i) a receiver is appointed for such party or its material assets; (ii) such party becomes insolvent, generally unable to pay its debts as they become due, makes an assignment for the benefit of its creditors or seeks relief under any bankruptcy, insolvency or debtor’s relief law; (iii) if proceedings are commenced against such party under any bankruptcy, insolvency or debtor’s relief law, and such proceedings have not been vacated or set aside within sixty (60) days from the date of commencement thereof; or (iv) if such party is liquidated or dissolved or otherwise permanently ceases to do business.
(f) Upon termination of this Agreement, regardless of the cause, the licenses granted under this Agreement are immediately revoked. Within ten (10) business days after the termination of this Agreement,
(i) each party shall return the Confidential Information of the other party to the other party, (ii) without limiting the foregoing, Customer shall, at Precision’s direction, return to Precision or destroy all...
Term Default and Termination. 4.1 This agreement shall be effective on the date first mentioned above and shall extend through and include 2years unless terminated prior to that date pursuant to this Article Four.
4.2 If any one or more of the following occurs: (1) a payment due from CUSTOMER to CONTRACTOR shall be and remain unpaid in whole or in part for more than sixty (60) days after same is due and payable; (2) CUSTOMER shall violate or default on any of the other covenant agreements, stipulations or conditions herein and such violation or default shall continue for a period of ten (10) days after written notice from CONTRACTOR of such violation or default; then it shall be optional for CONTRACTOR, without further demand or notice, to terminate this agreement and the said term ended and CONTRACTOR shall not be liable for damages by reason of such termination; but notwithstanding termination by CONTRACTOR, the liability of CUSTOMER for the payments provided herein shall not be relinquished or extinguished for the services provided prior to termination. CUSTOMER shall be responsible for, in addition to the payments agreed to be paid hereunder, reasonable attorneys’ fees and costs incurred by CONTRACTOR to enforce the provisions of this Agreement or to collect the payments due CONTRACTOR hereunder.
4.3 Each right or remedy of CONTRACTOR provided for in this agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this agreement now or hereafter existing at law or in equity or by statute or otherwise.
4.4 CONTRACTOR shall not be deemed to be in default under this agreement until CUSTOMER has given CONTRACTOR written notice specifying the nature of the default and CONTRACTOR does not cure such default within (30) days after receipt of such notice or within such reasonable time thereafter as may be necessary to cure such default where such default is of such a character as to reasonably require more than thirty (30) days to cure.
4.5 CUSTOMER or CONTRACTOR may terminate this agreement for any reason upon 60 days written notice, at which time all outstanding payments due from CUSTOMER to CONTRACTOR shall become immediately due and payable.
Term Default and Termination. 5.1 This Agreement shall commence on the date on the evidence of payment presented by FIRSTBANK and shall inure for a period of three months after which the Agreement may be terminated save it is extended as envisaged in section 3.1 above or renewed by the Parties for a subsequent term agreed to by the Parties in writing.
5.2 FIRSTBANK may terminate this Agreement prior to its expiration, immediately, by written notice if BESGEN commits a material breach of this Agreement including but not limited to a breach of any of the Warranties contained in this Agreement provided that where FIRSTBANK terminates the Agreement as a result of breach of Warranties, BESGEN shall refund the unutilized portion of fees paid.
5.3 FIRSTBANK may terminate this Agreement without cause, by giving thirty (30) days written notice to ▇▇▇▇▇▇. Upon such termination, FIRSTBANK shall be entitled to a refund of the unutilized portion of fees paid. Termination of the Agreement shall be without prejudice to any right or claims, which either Party may have against the other, which is subsisting at the time of termination and any provision of this Agreement which is expressed to have effect after termination shall continue in force accordingly.
Term Default and Termination. 28 Article VIII. GENERAL PROVISIONS 29
Term Default and Termination. 37 Section 19.01. Term........................................................... 37 Section 19.02. Termination by Either Party.................................... 37 Section 19.03. Termination by Either Party for Cause.......................... 37 Section 19.04.