Common use of Termination on Material Default Clause in Contracts

Termination on Material Default. (Clause 41.2.1(c) of the Contract Terms)): [In Clause 41.2.1(c) of the Contract Terms] [OR] [The percentage of “80%” in Clause 41.2.1(c) shall be amended to [ ]] Guidance Note: consider Clause 41.2.1(c) (Termination on Material Default). Insert an appropriate percentage to facilitate the ability of the Customer to terminate the Contract for material Default where, as a result of any Defaults, the Customer incurs Losses in any Contract Year which exceed a certain percentage of the value of the Suppliers aggregate annual liability limit for that Contract Year as set out in Clause 36.2.1 (Financial Limits).

Termination on Material Default. (Clause 41.2.1(c51.2.1(c) of the Contract Terms)): [In Clause 41.2.1(c51.2.1(c) of the Contract Terms] [OR] [The percentage of “80%” in Clause 41.2.1(c51.2.1(c) shall be amended to [ ]] Guidance Note: consider Clause 41.2.1(c51.2.1(c) (Termination on Material Default). Insert an appropriate percentage to facilitate the ability of the Customer to terminate the Contract for material Default where, as a result of any Defaults, the Customer incurs Losses in any Contract Year which exceed a certain percentage of the value of the Suppliers aggregate annual liability limit for that Contract Year as set out in Clause 36.2.1 46.2.1 (Financial Limits).