Termination by Shipper Clause Samples
Termination by Shipper. (i) Upon the occurrence and continuation of any Transporter Event of Default, Shipper may deliver a notice (the “Transporter Default Notice”) to Transporter of Shipper’s intention to terminate the GTA (or, if applicable pursuant to the terms of Clause 13.1(b)(ii) or Clause 13.1(b)(iv) all other GTAs entered into hereunder) to which the Transporter Event of Default relates. Such notice shall specify in reasonable detail the Transporter Event of Default to which such notice relates.
(ii) Following the receipt of any Transporter Default Notice, Transporter shall (A) promptly notify Shipper of the measures it has taken or intends to take to remedy the Transporter Event of Default which is the subject of such notice, and (B) have a period of sixty (60) days from the date of such receipt (the “Transporter Cure Period”) in which to remedy the breach or default and shall act as a Reasonable and Prudent Operator in doing so (except for the Transporter Events of Default described in Clauses 13.1(b)(ii) or 13.1(b)(iv), for which there will be no cure period).
(iii) During any Transporter Cure Period, each Party shall, save as otherwise provided herein, continue to perform its respective obligations under the GTA (and this Framework Agreement and under each other GTA) and shall not, whether by act or omission, impede or otherwise interfere with the endeavours of the other Party to remedy the breach or default to which such Transporter Cure Period relates.
(iv) With respect to a Transporter Event of Default under Clause 13.1(b)(i), such default shall be deemed to be remedied if there is no Shortfall Quantity incurred during the Transporter Cure Period or if the Shortfall Quantity incurred during the Transporter Cure Period does not exceed fifty percent (50%) multiplied by the Exit Point MDQ multiplied by sixty (60). If a Transporter Event of Default under Clause 13.1(b)(i) is deemed remedied pursuant to this Clause 13.2(b)(iv), the Shortfall Quantity giving rise to such Transporter Event of Default shall also be deemed extinguished for the future purposes of Clause 13.1(b)(i).
(v) Following the expiry of Transporter Cure Period, for a Transporter Event of Default referred to in Clause 13.1(b)(i) or 13.1(b)(iii), if the Transporter Event of Default to which a Transporter Default Notice relates is continuing, Shipper may terminate the relevant GTA by notice (a “Transporter Termination Notice”) to Transporter and such GTA shall terminate with immediate effect on the date ...
Termination by Shipper. In addition to any other rights Shipper may have pursuant to this Agreement, Shipper shall at all times be entitled to terminate (all but not part of) the subscribed LNG Services subject to the payment to Terminal Operator of an indemnity corresponding to Ninety-five percent (95%) of the Capacity Charges to be invoiced under this Agreement for its remaining duration if said duration exceeds two (2) Years. One hundred percent (100%) of the Capacity Charges to be invoiced under this Agreement for its remaining duration if said duration is less than two (2) Years.
Termination by Shipper. If, except during the period preceding the Commencement Date, an event of Force Majeure that prevents Carrier from receiving and transporting any volumes of Shipper’s Crude Oil, or providing adequate means for alternate transportation, under this Agreement continues for a period of one hundred eighty (180) consecutive Days or longer or more than one hundred eighty (180) Days at any time during the Term, then Shipper shall have the right to terminate this Agreement upon Notice to Carrier with no liability of Shipper to Carrier for Throughput Fees, Deficiency Payments or Compliance Costs except as the foregoing was incurred prior to the termination by Shipper pursuant to this provision.
Termination by Shipper. By giving Notice of termination, Shipper may terminate this Precedent Agreement and obligations under it if:
(a) Shipper has not obtained all requisite internal approvals set forth in Section 10(a) before February 1, 2011;
(b) any Shipper Condition Precedent has not been satisfied or waived before the date specified for the applicable Shipper Condition Precedent in Exhibit D;
(c) Shipper is a Foundation Shipper and the Shipper’s Notice of termination is provided to Transporter within 30 Days after receipt of any updated information provided by Transporter in accordance with Section 7.2;
(d) the conditions for Shipper’s termination specified in Section 4.3(a) have been met; or
(e) the conditions for Shipper’s termination specified in Section 4.3(b)(iii) have been met.
Termination by Shipper. Upon the delivery by Shipper to Transporter of a Notice of termination in the event that: the term(s) of the Key Project Agreements to which Shipper or its Affiliate is a party, is/are not acceptable to Shipper in its sole discretion; each of (1) AGDC, (2) Transporter, and (3) one or more of the Producer Parties, have not executed the Pre-FEED JVA on or before November 30, 2014, or such later date agreed to by the Parties; on or before the FTSA Decision Date, Transporter fails to execute the FTSA (including failure by the Parties to agree to the terms of the FTSA); prior to a positive FEED Decision, Shipper elects, in its sole discretion, to terminate 90 days from providing Notice of termination to Transporter; any final Regulatory Approvals include material unacceptable condition(s) or requirement(s) to Shipper in its sole discretion, provided that such Notice is delivered within 90 days from the date of issuance of such Regulatory Approval; the Pre-FEED JVA is (1) terminated prior to the expiry of the Pre-FEED JVA for any reason other than entry into the FEED Agreement, or (2) expires without a FEED Decision; Transporter withdraws from the Pre-FEED JVA; Any one or more of the Shipper Conditions have not been satisfied or waived within the time frame specified (or such later date as Shipper may agree), or if no time frame is specified, on or before the FTSA Decision Date; or a Default Event of Transporter occurs, as set out in Section 6.1.