Michelin Inflatable Solution’s right to terminate for change of Control or assignment Clause Samples

This clause grants Michelin Inflatable Solution the authority to terminate the agreement if there is a change in control or an assignment of the other party’s rights or obligations. In practice, this means that if the ownership of the counterparty changes hands, or if the contract is transferred to another entity without Michelin’s consent, Michelin can choose to end the contractual relationship. The core function of this clause is to protect Michelin from being bound to work with an unknown or potentially unsuitable party, thereby managing business risk and maintaining control over its contractual partners.
Michelin Inflatable Solution’s right to terminate for change of Control or assignment. Michelin Inflatable Solutions may terminate the Contract immediately upon: 10.5.1. any change of Control of Customer, as defined by applicable law, unless prior to the occurrence of such change of Control, Michelin Inflatable Solutions is notified of the change in writing and gives written approval; or 10.5.2. any attempted assignment by Customer of the Contract or any right or interest arising from the Contract without the prior written consent of Michelin Inflatable Solutions.
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Related to Michelin Inflatable Solution’s right to terminate for change of Control or assignment

  • Right to Terminate Following Event of Default If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

  • Termination for Change of Control This Agreement may be terminated immediately by SAP upon written notice to Provider if Provider comes under direct or indirect control of any entity competing with SAP. If before such change Provider has informed SAP of such potential change of control without undue delay, the Parties agree to discuss solutions on how to mitigate such termination impact on Customer, such as stepping into the Customer contract by SAP or by any other Affiliate of Provider or any other form of transition to a third party provider.

  • Termination Following a Change of Control If the Employee's employment terminates at any time within eighteen (18) months following a Change of Control, then, subject to Section 5, the Employee shall be entitled to receive the following severance benefits:

  • Right to Terminate Sale In the event that the property as stated in the Proclamation of Sale is not the property as described under the security documents executed by the Assignor/Borrower or otherwise different from such property as assigned to the Assignee/Bank by the Assignor/Borrower, the Assignee/Bank shall be entitled to terminate the sale and the bidding deposit paid shall be refunded to the Successful Purchaser(s). The Successful Purchaser(s) shall have no claims whatsoever against the Assignee/Bank, their Solicitors or the Auctioneer or any compensation in respect thereof.