Common use of Termination by Shipper Clause in Contracts

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.

Appears in 2 contracts

Sources: LNG Services Agreement, LNG Services Agreement