Common use of Termination/Resolution Clause in Contracts

Termination/Resolution. a) Each Party may terminate the Contract at any time by giving at least 3 months’ notice to the other Party by registered letter. b) Any failure by a Party (defaulting Party), in tort or under the Contract, which is not remedied by the defaulting Party within 15 calendar days of the formal notice sent to it by the other Party, shall entitle the other Party to terminate the Contract as of right, without prior notice and without compensation to the defaulting Party. c) The Contract will be automatically suspended, or even permanently and immediately terminated by ▇▇▇▇▇▇▇, to the sole detriment of the Merchant, (i) if the Merchant appears being no longer authorized to accept and be reimbursed for Vouchers or (ii) in the event of significant or repeated invalid, suspicious, or fraudulent Transactions at a Point of Sale of the Merchant. d) Termination of the Contract to the detriment of the Merchant automatically and without notice results in the Merchant’s obligation to compensate Edenred for the loss suffered due to or upon this termination, with this loss being fixed at a flat rate equivalent to 3 times the average monthly Price charged and/or invoiced during the term of the Contract.

Termination/Resolution. a) Each Party may terminate the Contract at any time by giving at least 3 months’ ' notice to the other Party by registered letter. b) Any failure by a Party (defaulting Party), in tort or under the Contract, which is not remedied by the defaulting Party within 15 calendar days of the formal notice sent to it by the other Party, shall entitle the other Party to terminate the Contract as of right, without prior notice and without compensation to the defaulting Party. c) The Contract will be automatically suspended, or even permanently and immediately terminated by ▇▇▇▇▇▇▇Edenred, to the sole detriment of the Merchant, (i) if the Merchant appears being no longer authorized to accept and be reimbursed for Vouchers or (ii) in the event of significant or repeated invalid, suspicious, or fraudulent Transactions at a Point of Sale of the Merchant. d) Termination of the Contract to the detriment of the Merchant automatically and without notice results in the Merchant’s obligation to compensate Edenred for the loss suffered due to or upon this termination, with this loss being fixed at a flat rate equivalent to 3 times the average monthly Price charged and/or invoiced during the term of the Contract.