Common use of Data Update Clause in Contracts

Data Update. 10.1 The Client is obliged to notify the Service Provider of any modification to its contact details and the contact details for invoicing purposes included in the heading of the Special Conditions, within a maximum of five (5) days of the change, by e-mail sent to ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇.▇▇▇. 10.2 The parties agree that any failure by the Client to comply with its obligations under this section 10 constitutes a material breach of this Agreement, and the Service Provider may, unilaterally, automatically terminate this Agreement, at any time, with the only requirement being notification in writing to the Client of such termination. In this case, the Client will compensate the Service Provider with a sum equal to the Price specified in the Special Conditions, as modified accordingly to section 7 above, which the Service Provider would have received if no termination of the Agreement had taken place as penalty clause without court moderation. The parties expressly acknowledge that the aforesaid penalty is commensurate and appropriate to the seriousness of the breach and to the damage which would be occasioned by the breach to the Service Provider.