Common use of Validity and Termination Clause in Contracts

Validity and Termination. 10.1. The Agreement shall come into force on the Effective Date and shall remain valid until the full fulfilment of the obligations of the Parties or until it is terminated. 10.2. The Carrier may unilaterally terminate the Agreement by giving 14 (fourteen) calendar day prior Notice to the Client and without referring to the dispute resolution venue, if: 10.2.1. the Client fails to make any payment hereunder and does not remedy this breach within 1 (one) calendar day after receipt of the same Carrier’s Notice; 10.2.2. the Client fails to provide any information reasonably required for the Flights and does not remedy this breach within 1 (one) calendar day after receipt of the same Carrier’s Notice; 10.2.3. the Client fails to duly fulfil its other obligations provided for in this Agreement and does not remedy this breach within 2 (two) calendar days after receipt of the same Carrier’s Notice. 10.2.4. the Client ceases to carry on business or suspends all of its operations (other than temporarily e.g. by reason of a strike); 10.2.5. the Client files a petition in bankruptcy or makes a general assignment for the benefit of creditors or otherwise acknowledges insolvency, or is adjudged bankrupt; 10.2.6. the Client commences or is placed in a process of complete liquidation other than for an amalgamation or reconstruction; 10.2.7. the FME lasts more than 14 (fourteen) calendar days. 10.3. If the Carrier terminates the Agreement on any basis established in clause 10.2 above, with the exception of clause 10.2.7 above, then the Agreement shall be deemed as terminated due to fault of the Client without any adverse consequences and/or liabilities to the Carrier, including, but not limited to, damages arising to the Client, Passengers, Shippers or third parties, which, if incurred, shall be assumed entirely by the Client. 10.4. In all cases termination of the Agreement shall not affect any payment obligations of the Parties, which shall be carried out in accordance with the provisions of the Agreement.