Termination 2 Sample Clauses
The 'Termination 2' clause defines the conditions and procedures under which a contract may be ended by either party. Typically, this clause outlines specific events or breaches that can trigger termination, such as failure to perform obligations, insolvency, or mutual agreement, and may require written notice before termination becomes effective. Its core practical function is to provide a clear framework for ending the contractual relationship, thereby reducing uncertainty and protecting both parties' interests in the event that continuation of the agreement is no longer viable.
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Termination 2. 6.1 BY THEULB Save as otherwise provided in this Concession Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire/Agency fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire/Agency shall be deemed to be in default of this Concession Agreement (a “Concessionaire/Agency Default”), unless the default has occurred solely as a result of any breach of this Concession Agreement by the ULB or due to Force Majeure. In case of occurrence of the below mentioned Concessionaire/Agency Default, the ULB/Authority shall be entitled to take action for termination as per this clause or issue suspension notice in accordance with clause GC 2.
Termination 2. 6.1 By the Client The Client may terminate this Contract in case of the occurrence of any of the events specified in paragraphs (a) through (f) of this Clause GC 2.
6.1. In such an occurrence the Client shall give not less than thirty (30) days’ written notice of termination to the Consultant, and sixty (60) days’ in the case of the event referred to in (e).
(a) If the Consultant does not remedy a failure in the performance of their obligations under the Contract, within thirty (30) days after being notified or within any further period as the Client may have subsequently approved in writing.
(b) If the Consultant becomes insolvent or bankrupt. (c) If the Consultant, in the judgment of the Client has engaged in corrupt or fraudulent practices in competing for or in executing the Contract.
Termination 2. 9.1 By the procuring entity The procuring entity may terminate this Contract in case of the occurrence of any of the events specified in paragraphs (a) to (h) of this Clause GCC 2.
9.1. In such an occurrence the procuring entity shall give a not less than thirty (30) days’ written notice of termination to the consultants, and sixty (60) days’ in case of the event referred to in (g).
(a) If the consultant fails to remedy a failure in the performance of its obligations hereunder, as specified in a notice of suspension pursuant to Clause GCC 2.8 hereinabove, within thirty (30) days of receipt of such notice of suspension or within such further period as the procuring entity may have subsequently approved in writing.
(b) If the consultant becomes (or, if the consultant consists of more than one entity, if any of its Members becomes) insolvent or bankrupt or enter into any agreements with their creditors for relief of debt or take advantage of any law for the benefit of debtors or go into liquidation or receivership whether compulsory or voluntary.
(c) If the consultant fails to comply with any final decision reached as a result of arbitration proceedings pursuant to Clause GCC 8 hereof.
(d) If the consultant, in the judgment of the procuring entity, has engaged in corrupt or fraudulent practices in competing for or in executing this Contract.
(e) If the consultant submits to the procuring entity a false statement which has a material effect on the rights, obligations or interests of the procuring entity.
(f) If, as the result of Force Majeure, the consultant is unable to perform a material portion of the Services for a period of not less than sixty (60) days.
(g) If the procuring entity, in its sole discretion and for any reason whatsoever, decides to terminate this Contract. (h) conviction of the consultant of any offence that is viewed by the procuring entity to be serious.
Termination 2. Kündigung
Termination 2