Common use of Consequences of Revocation Clause in Contracts

Consequences of Revocation. In the event of an effective revocation, mutually received benefits are to be returned and any derived profit (e.g. interest) must be surrendered. In case that you are not able to reimburse us for the services and utilizations (e.g. benefits of use) provided, or can return or surrender them only in part or in a deteriorated condition, you may be obliged to indemnify us their value. This may mean that you must nevertheless fulfil your contractual payment obligations for the period prior to revocation. Obligations to refund payments must be satisfied within 30 days. For you, this period shall begin upon dispatch of your notice of revocation, for us, upon receipt thereof.

Appears in 3 contracts

Sources: Course Enrollment Agreement, Course Enrollment Agreement, Language Course Agreement