Termination. In the event of non-performance of the Consultant as decided by the Bank or any disputes or differences arising between the Parties hereto on any matter / provision set out in this RFP and subsequent Service Agreement for the selected Consultant, the Parties shall try to resolve the matter amicably inter se. The defaulting Party shall be given notice of 30 days to alter the situation and resolve the dispute or reverse the damage caused in any way. In the event the defaulting Party does not comply with its obligations, on the termination of the notice period, the Other Party shall be at liberty to terminate the Agreement, without further notice, and shall additionally have the right to claim any further rights available under the law, including without limitation, the right to damages. Upon termination of the Agreement, the Consultant would promptly hand over to SIDBI all Deliverable Items, including work-in-progress, all "as is where is" condition subject to the mutual settlement of all money due and payable to them being paid. During the period of notification of termination, the Consultant shall complete pending assignments and SIDBI shall agree to settle the dues in respect of assignments after completion thereof by the Consultant, except if specifically instructed by SIDBI to act otherwise. In such case, the payment due to the Consultant would be determined on the basis of the last completed milestone as per the programme schedule. SIDBI would also have the right to terminate such Service Agreement with three months‟ notice without assigning any reason. The Bank reserves the right to cancel the contract of the selected Consultant and recover expenditure incurred by the Bank in any of the following circumstances: The Consultant becomes insolvent or goes into liquidation voluntarily or otherwise An attachment is levied or continues to be levied for a period of 7 days upon effects of the bid The progress regarding execution of the contract, made by the selected Consultant is found to be unsatisfactory. If deductions on account of Penalty exceeds more than 10% of the total contract price. If the selected Consultant fails to complete the due performance of the contract in accordance with the agreed terms and conditions. If the selected Consultant gets merged/ taken over by another firm.
Termination. Bank reserve the right to terminate this RFP at any stage without any advance notice to participants. However the Bank will be entitled to terminate any subsequent agreement, if Vendor breaches any of its obligations set forth in this RFP and any subsequent agreement and Such breach is not cured within thirty (30) Working Days after Bank gives written notice; or if such breach is not of the type that could be cured within thirty (30) Working Days, failure by Vendor to provide Bank, within thirty (30) Working Days, with a reasonable plan to cure such breach, which is acceptable to the Bank. Or A liquidator or a receiver is appointed over all or a substantial part of the undertaking, assets or revenues of the other Party and such appointment continues for a period of twenty one (21) days; The other Party is subject of an effective resolution for its winding up other than a voluntary winding up for the purpose of reconstruction or amalgamation upon terms previously approved in writing by the other Party; or The other Party becomes the subject of a court order for its winding up. The Bank, by written notice of default sent to the Vendor, may terminate this Contract in whole or in part without prejudice to any other remedy for breach of Contract if the Vendor fails to deliver any or all of the Design, Goods, Works and Services, within the period(s) specified in the Contract or within any extension thereof granted by the Bank Upon the termination or expiry of subsequent Agreement. The rights granted to Vendor shall immediately terminate. In the event the Bank terminates the Contract in whole or in part, the Bank may, among other applicable remedies, procure Goods, Works or Services similar to those undelivered upon such terms and in such manner as it deems appropriate, and hold the Vendor liable to the Bank for any excess costs for such similar Goods, Works or Services. However, the Vendor shall continue to perform of the Contract to the extent not terminated. 30.
Termination. 17.1 If party of the other part to the Agreement is subject to liquidation or insolvency under the applicable law, then the party of the first part may forthwith terminate this Agreement by issuing a notice for termination upon such confirmed events having taken place. 17.2 The parties agree that ‘Material Breach’ for the Licensee shall also mean (other than those instances set forth in this Agreement), the failure to maintain the desired Performance Levels’ and/or the delay in achieving the CommencementDate as described in Article 1.1 and/or non-payment of the minimum license fee by the Licensee in accordance with the provisions herein contained and/or any misrepresentation or violation of the commitments set forth in this entire Agreement or in response to the Bid or the breach or non-compliance by Licensee of its fundamental obligations under this Agreement, such that the breach or non-achievement defeats the object and purpose of this Agreement. 17.3 Railway shall also have, without prejudice to other rights and remedies, the right, in the event of ‘Material Breach’ by the Licensee of any of the terms and conditions of the contract, or due to the Licensee’s inability to perform asagreed for any reason whatsoever, to terminate the contract forthwith and get the work done for the un-expired period of the License at the ‘risk and cost’ of the Licensee or in the manner Railway deems fit to recover losses,damages, expenses or costs that may be suffered or incurred by the Railways. The decision of the Railway about the breach/failure on the part of the Licensee shall be final and binding on the Licensee and shall not be called into question. 17.4 Notwithstanding the provisions of Article 17.1 above, Railway or the Licensee may terminate this Agreement without assigning any reason to the Licensee / Railway by giving 6 (six) months prior notice in writing to the Licensee / Railway. 17.5 In the event that the Agreement is terminated by either party pursuant to Article 17.1 or by Railway under Article 17.4, then the undisputed payments accruing to Railway shall be due and settled in accordance with the terms of the Agreement until the effective date of termination. 17.6 In the event the Agreement is terminated by the Licensee under Article 17.4, the Railway shall forfeit the entire License Fee paid by the Licensee and invoke the Security Deposit. 17.7 In the event that the Agreement is terminated by either party prior to the achievement of the Commencement Date,...
Termination. The Institute may terminate the Contract, by not less than thirty (30) days’ written notice of termination to the Bidder/Agency, to be given after the occurrence of any of the events specified in paragraphs (i) to (iii) of this Clause and sixty (60) days’ in the case of the event referred to in (iv) below: i. if the Bidder/Agency fails to meet the performance obligations under the Contract. ii. If the Bidder/Agency becomes insolvent or bankrupt; iii. If the Bidder/Agency, in the judgment of the Centre has engaged in corrupt or fraudulent practices in competing or in executing the Contract. iv. If as a result of Force Majeure, the Bidder/Agency is unable to perform a material portion of the Services for a period of not less than sixty (60) days.
Termination. 7.6.1. Termination for default 1. Bank may, without prejudice to any other remedy for breach of contract, by written notice of not less than 30 (thirty) days, terminate the contract in whole or part: a) If the ISP fails to deliver any or all of the services within the period(s) specified in the contract or within any extension thereof granted by the Bank pursuant to conditions of contract or b) If the bidder fails to perform any other obligation(s) under the contract. c) Violations of any terms and conditions stipulated in the RFP; 2. Prior to providing a written notice of termination to ISP under above clause, the Bank shall provide ISP with a written notice of 30 (thirty) days to cure such breach of the Agreement. If the breach continues or remains unrectified after expiry of cure period, the Bank shall have right to initiate action in accordance with above clause. 3. If the Contract is terminated under any termination clause, ISP shall handover all documents/ executable/ Bank’s data or any other relevant information to the Bank in timely manner and in proper format as per scope of this RFP and shall also support the orderly transition to another vendor or to the Bank. 4. During the transition, ISP shall also support the Bank on technical queries/support on process implementation. 7.6.2. Termination for insolvency Bank may at any time terminate the Contract by giving written notice to the ISP, if the ISP becomes bankrupt or otherwise insolvent or any application for bankruptcy, insolvency or winding up has been filed against it by any person. In this event termination will be without compensation to the bidder, provided that such termination will not prejudice or affect any right of action or remedy, which has occurred or will accrue thereafter to the Bank. 7.6.3. Termination for convenience Notwithstanding anything mentioned above, the Bank reserves the right to cancel / terminate the contract or surrender IP addresses with 60 days’ notice, without assigning reasons thereto. In such case payment till the termination of the contract would be paid on prorate basis. 7.7.
Termination