Termination or Assignment of Service Contracts Clause Samples

The 'Termination or Assignment of Service Contracts' clause defines the conditions under which a party may end or transfer its rights and obligations under a service agreement. Typically, this clause outlines the procedures for providing notice of termination, any required advance warning periods, and whether consent is needed to assign the contract to another party. For example, it may allow a company to terminate a contract early if certain performance standards are not met, or to assign the contract to a subsidiary in the event of a merger. The core function of this clause is to provide flexibility and clarity for both parties regarding how and when the service relationship can be ended or transferred, thereby managing risk and ensuring smooth transitions.
Termination or Assignment of Service Contracts. Seller shall deliver to Purchaser termination agreements or other evidence reasonably satisfactory to Purchaser that all Service Contracts that would be binding upon Purchaser or the Property have either been (a) terminated effective upon the Closing Date and at no cost to Purchaser or to the Property, or (b) assigned to Seller in its capacity as tenant of the Property or amended to clarify that Seller is no longer the owner of the Property, without any right of the applicable service provider to make a claim against Purchaser or the Property.
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Termination or Assignment of Service Contracts. At or prior to the Closing, Parent, Holdings and the Company shall cause each of the Contracts listed in Section 6.11 of the Disclosure Letter (the “Service Contracts”) to be terminated or assigned, at Parent’s sole cost and expense, such that none of the Companies shall be responsible for any obligations and Liabilities, or receive the benefits, under such Service Contracts after the Closing.
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Related to Termination or Assignment of Service Contracts

  • Termination of Contracts Neither the Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any material contract or agreement referred to or described in the Registration Statement, the Pricing Disclosure Package and the Final Prospectus or filed as an exhibit to the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or by any other party to any such contract or agreement.

  • Termination of Contract The Department may terminate the Contract for refusal by the Contractor to comply with this section by not allowing access to all public records, as defined in Chapter 119, F. S., made or received by the Contractor in conjunction with the Contract.

  • Assignment of Contract A. No assignment by a party hereto of any rights under or interests in the Contract will be binding on another party hereto without the written consent of the party sought to be bound; and, specifically but without limitation, moneys that may become due and moneys that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment, no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents.

  • Termination of Assignment Citizens and the Firm may each terminate a specific assignment or all assignments held by the Firm, at any time upon advanced written notice. Citizens may also reassign any matter at any time upon advanced written notice.

  • Termination of Contract for Cause 5.1.1 If A-E breaches any of the covenants or conditions of this CONTRACT, COUNTY shall have the right to terminate this CONTRACT upon ten (10) days written notice prior to the effective day of termination. 5.1.2 A-E shall have the opportunity to cure the alleged breach prior to termination. 5.1.3 In the event the alleged breach is not cured by A-E prior to termination, all work performed by A-E pursuant to this CONTRACT, which work has been reduced to plans or other documents, shall be made available to COUNTY.