Common use of Termination by WCMRC Clause in Contracts

Termination by WCMRC. This Agreement may be terminated by WCMRC effective immediately upon notice to Operator: (a) in the event that the Minister of Transport revokes WCMRC’s certification as a response organization with 10,000 Tonnes rated capability; (b) if Operator has failed to pay any Membership Fees or WCMRC Fees or Taxes in accordance with the terms of this Agreement; (c) if Operator has knowingly created or if, after learning of it, has failed to correct, a discrepancy between the actual volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility during on any particular occasion and Operator’s reported volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility in respect of the same occasion; (d) if Operator has become insolvent, commenced an act of bankruptcy, suspended business operations or has bankruptcy, dissolution, liquidation or winding-up proceedings commenced against it (unless such proceedings are actively and diligently contested in good faith on a timely basis); or (e) if Operator has breached any representation or warranty or other term of this Agreement and failed to cure such breach within five (5) days after Operator received written notice from WCMRC advising of suchbreach. This right of termination is in addition to any of WCMRC’s rights and remedies under this Agreement and at law or in equity.

Termination by WCMRC. This Agreement may be terminated by WCMRC effective immediately upon notice to Operator: (a) in the event that the Minister of Transport revokes WCMRC’s certification as a response organization with 10,000 Tonnes rated capability; (b) if Operator has failed to pay any Membership Fees or WCMRC Fees or Taxes in accordance with the terms of this Agreement; (c) if Operator has knowingly created or if, after learning of it, has failed to correct, a discrepancy between the actual volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility during on any particular occasion and Operator’s reported volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility in respect of the same occasion; (d) if Operator has become insolvent, commenced an act of bankruptcy, suspended business operations or has bankruptcy, dissolution, liquidation or winding-up proceedings commenced against it (unless such proceedings are actively and diligently contested in good faith on a timely basis); or (e) if Operator has breached any representation or warranty or other term of this Agreement and failed to cure such breach within five (5) days after Operator received written notice from WCMRC advising of suchbreachsuch breach. This right of termination is in addition to any of WCMRC’s rights and remedies under this Agreement and at law or in equity.

Termination by WCMRC. This Agreement may be terminated by WCMRC effective immediately upon notice to Operator: (a) in the event that the Minister of Transport revokes WCMRC’s certification as a response organization with 10,000 Tonnes rated capability; (b) if Operator has failed to pay any Membership Fees or WCMRC Fees or Taxes in accordance with the terms of this Agreement; (c) if Operator has knowingly created or if, after learning of it, has failed to correct, a discrepancy between the actual volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility during on any particular occasion and Operator’s reported volumes of Bulk Oil Cargo Handled at Operator’s Member Oil Handling Facility in respect of the same occasion; (d) if Operator has become insolvent, commenced an act of bankruptcy, suspended business operations or has bankruptcy, dissolution, liquidation or winding-up proceedings commenced against it (unless such proceedings are actively and diligently contested in good faith on a timely basis); or (e) if Operator has breached any representation or warranty or other term of this Agreement and failed to cure such breach within five (5) days after Operator received written notice from WCMRC advising of suchbreachsuch breach. This right of termination is in addition to any of WCMRC’s rights and remedies under this Agreement and at law or in equity.