Common use of TERMINATION Clause in Contracts

TERMINATION. 14.1. If the Customer is in breach of any of these Terms including without limitation, a provision relating to the payment of money or if the Customer becomes subject to one of the following events: it suspends or threatens to suspend payment of its debts or is or becomes unable to pay its debts when they are due, or its financial position deteriorates to such an extent that in ▇▇▇▇▇▇▇’▇ opinion the Customer’s capability to adequately fulfil its obligations under the Contract has been placed in jeopardy, takes any step in connection with having any external manager or controller appointed (including any receiver, administrator, liquidator of any kind) or informs any person that it is, presumed to be, insolvent or if the Customer ceases or threatens to cease to carry on business or any guarantee or security given to Sandvik in relation to the Customer is revoked or unenforceable (“Insolvency Event”) then Sandvik may, at its sole discretion, upon written notice to the Customer: 14.1.1. Immediately withdraw any purchase or credit facilities which may have been extended to the Customer and require immediate payment of all moneys owed to Sandvik by the Customer, whether or not they were due for payment in the future; 14.1.2. Immediately suspend performance or terminate without penalty the Contract (including any license granted pursuant to Clause 9.2) in force between Sandvik and the Customer; 14.1.3. Immediately take all possible action to protect its Goods and intellectual property rights; and/or 14.1.4. Recover all costs and losses associated with such termination action. 14.2. Termination (including pursuant to clause 2.2) shall be without prejudice to the accrued rights and liabilities of either party at the termination date. 14.3. If a Force Majeure event prevents, hinders or delays a party’s performance of its obligations for a continuous period of more than three (3) months, then either party may terminate this Contract by giving two (2) weeks' written notice to the other Party. 14.4. Sandvik agrees to store and allow the Customer to download or otherwise retrieve, Customer specific Input Data and/or Output Data provided such request has been made to Sandvik in writing, and maximum thirty (30) days following the termination of the Contract. 14.5. Sandvik shall have the right to terminate this Agreement for convenience upon 30 days’ prior written notice to Customer. Customer acknowledges and accepts that such period of prior written notice is fair and compatible with the nature and amount of any investments eventually made by Customer in connection with the performance of this Agreement. quaisquer investimentos eventualmente feitos pelo Cliente em relação à execução deste Contrato.

TERMINATION. 14.115.1. If the Customer is in breach of any of these Terms including without limitation, a provision relating to the payment of money or if the Customer becomes subject to one of the following events: it suspends or threatens to suspend payment of its debts or is or becomes unable to pay its debts when they are due, or its financial position deteriorates to such an extent that in ▇▇▇▇▇▇▇’▇ opinion the Customer’s capability to adequately fulfil its obligations under the Contract has been placed in jeopardy, takes any step in connection with having any external manager or controller appointed (including any receiver, administrator, liquidator of any kind) or informs any person that it is, presumed to be, insolvent or if the Customer ceases or threatens to cease to carry on business or any guarantee or security given to Sandvik in relation to the Customer is revoked or unenforceable (“Insolvency Event”) then Sandvik may, at its sole discretion, upon written notice to the Customer: 14.1.115.1.1. Immediately withdraw any purchase or credit facilities which may have been extended to the Customer and require immediate payment of all moneys owed to Sandvik by the Customer, whether or not they were due for payment in the future; 14.1.215.1.2. Immediately suspend performance or terminate without penalty the Contract (including any license granted pursuant to Clause 9.2) in force between Sandvik and the Customer; 14.1.315.1.3. Immediately take all possible action to protect its Goods and intellectual property rightsIntellectual Property; and/or 14.1.415.1.4. Recover all costs and losses associated with such termination action. 14.215.2. Termination (including pursuant to clause Clause 2.2) shall be without prejudice to the accrued rights and liabilities of either party at the termination date. 14.315.3. If a Force Majeure event prevents, hinders or delays a party’s performance of its obligations for a continuous period of more than three (3) months, then either party may terminate this Contract by giving two (2) weeks' written notice to the other Party. 14.415.4. Sandvik agrees to store and allow the Customer to download or otherwise retrieve, Customer specific Input Data and/or Output Data provided such request has been made to Sandvik in writing, and maximum thirty (30) days following the termination of the Contract. 14.515.5. Sandvik shall have the right to terminate this Agreement for convenience upon 30 days’ prior written notice to Customer. Customer acknowledges and accepts that such period of prior written notice is fair and compatible with the nature and amount of any investments eventually made by Customer in connection with the performance of this Agreement. quaisquer investimentos eventualmente feitos pelo Cliente em relação à execução deste Contrato.