Unilateral Termination Right Clause Samples
A Unilateral Termination Right clause grants one party the explicit authority to end the contract without needing the other party's consent. Typically, this right may be exercised by providing advance written notice, and it can apply in situations such as convenience, breach, or failure to meet certain conditions. The core function of this clause is to provide flexibility and control to one party, allowing them to exit the agreement if circumstances change or if the arrangement is no longer beneficial, thereby managing risk and ensuring adaptability.
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Unilateral Termination Right. In addition to any other termination rights provided in this contract or at law, both parties expressly reserve the right, upon one hundred and fifty (150) days’ prior written notice to other party, to unilaterally terminate this Contract; provided, however, that the terminating party shall pay to other party an amount equal to twenty-five (25) percent of the Base Price, multiplied by the remaining number of tons scheduled for delivery from the effective termination date herein through the earliest applicable date for termination pursuant to the reopening provision under S▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇; or if there is no renegotiation provision capable of effectuation after the date of termination under this Section 20, then through the date of expiration of this Contract; provided further, that the remaining number of tons scheduled for delivery shall be based on the remaining monthly tonnage required to be delivered hereunder Said payment by terminating party to non-terminating party shall constitute non-terminating party’s sole remedy against terminating party for any loss, cost, or damage incurred by non-terminating party as a result of terminating party’s termination under this section. Terminating party shall have no further obligation or liability under the contract or at law except with respect to coal delivered prior to said termination date as otherwise provided in Section 8, Adjustment for Quality, Section 15, Payment, Invoices, and Section 16, Weights.
Unilateral Termination Right. Regency shall have the unilateral right to terminate this Agreement upon ninety (90) days prior written notice (“Termination Notice”) if Regency is dissatisfied with the service being provided and Services Company fails to adequately address Regency's concerns within thirty (30) days of Regency's written notice to the Customer Service Representative of such concerns. Upon receipt of a Termination Notice, Services Company shall work in good faith with Regency to transition the G&A Services in accordance with Section 4.5. Except as waived or amended by this First Amendment, the Agreement shall remain unmodified and in full force and effect. This First Amendment shall be governed by and construed and interpreted in accordance with the laws of the State of Texas, without giving effect to the conflicts of law provisions or rules (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas. This First Amendment may be executed by facsimile signatures and such signatures shall be deemed binding for all purposes hereof without delivery of an original signature being thereafter required. This First Amendment may be executed in one or more counterparts, each of which, when executed, shall be deemed to be an original and all of which together shall constitute one and the same documents.
Unilateral Termination Right. Commencing no sooner than July 1, 211/, in addition to any other termination rights provided in this contract or at law, TVA expressly reserves the right, upon 60 days’ prior written notice to Contractor, to unilaterally terminate this contract; provided, however, that TVA shall pay to Contractor an amount equal to ten (10) percent of the Base Price, multiplied by the remaining number of tons scheduled for delivery from the effective termination date herein through the earliest applicable date for termination, pursuant to the reopening provisions under ▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇; provided further, that the remaining number of tons scheduled for delivery shall be based on the minimum Nominated Quantity that may be nominated pursuant to Section 2, Quantity. Said payment by TVA to Contractor shall constitute Contractor’s sole remedy against TVA for any loss, cost, or damage incurred by Contractor as a result of TVA’s termination under this section. TVA shall have no further obligation or liability under the contract or at law except with respect to coal delivered prior to said termination date as otherwise provided in Section 8, Adjustment for Quality, Section 15, Payments, Invoices, and Section 16, Weights.
Unilateral Termination Right. In addition to any other termination rights provided in this contract or at law or in equity, Buyer expressly reserves the right, upon eighteen (18) Months' prior written notice to Seller, to unilaterally terminate this Agreement; provided, however, that Buyer shall pay to Seller an amount equal to $4.00 per Ton, multiplied by the remaining number of Tons scheduled for delivery from the effective termination date herein through the normal expiration of the then current term. Said payment by Buyer to Seller shall constitute Seller's sole remedy against Buyer for any loss, cost, or damage incurred by Seller as a result of Buyer's termination under this Agreement. Buyer shall have no further obligation or liability under this Agreement or at law except with respect to coal delivered prior to said termination date or as otherwise provided.
Unilateral Termination Right. Notwithstanding anything to the ---------------------------- contrary contained herein, in the event the sum of (i) all gross revenues invoiced in calendar year 2001 for all Exclusive Contracts and Prior Sales, plus (ii) all ▇-▇ ▇▇▇▇▇ Revenues invoiced in calendar year 2001 for all Bundled Sales, is less than $5,000,000, Hachette shall thereafter have the right, during the balance of the Initial Term, to terminate this Agreement upon thirty (30) days prior written notice to P2M.
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Unilateral Termination Right. Unless otherwise stipulated in this Agreement, either Party may terminate this Agreement unilaterally with immediate effect by giving written notice to the other Party under the following circumstances:
10.2.1 The Purchaser fails to pay the Post-Tax Purchase Price in accordance with Section 1 of Annex 3 on the Closing Date, and fails to remedy within ten (10) Business Days after the relevant amount becomes due and payable.
10.2.2 With respect to the Purchaser’s failure to complete withholding and remittance in accordance with Section 3.1.1 and 12.2, the Purchaser fails to remedy within ten (10) Business Days after the expiration of the time stipulated in Section 3.1.1;
10.2.3 Prior to the Closing Date, the defaulting party has breached any of its warranties, covenants, agreements or obligations under this Agreement, and has failed to remedy such breach or such breach is not capable of being remedied within thirty (30) days after receipt of written notice from the non-defaulting party requiring the same to be remedied.
Unilateral Termination Right. In addition to the rights of the parties to terminate this Agreement set forth in Section 6 above, after January 1, 1998, either party shall have the unilateral right to terminate this Agreement, in its sole discretion and upon no less than thirty (30) days prior notice to the other party, at any time for any other reason or no reason. In the event META exercises such unilateral termination right, META shall pay to RSI the aggregate Royalties and reimbursable expenses to the date of such termination, subject to any claims or set offs META may have (including recoupment of any unearned Advance Royalty).