Rescission of the Agreement Clause Samples

The Rescission of the Agreement clause defines the conditions and procedures under which the parties may cancel or undo the contract, effectively restoring them to their pre-contractual positions. Typically, this clause outlines specific events or breaches that trigger the right to rescind, such as misrepresentation, fraud, or failure to perform essential obligations. Its core function is to provide a clear mechanism for unwinding the agreement when fundamental issues arise, thereby protecting parties from being bound by a contract that is no longer fair or valid.
Rescission of the Agreement. 1. Menlo is entitled to rescind from the whole or a part of the Agreement or Order/Purchase Order, as the case may be, upon occurrence of extraordinary circumstances beyond Menlo’s control, including Force Majeure referred to in Section 12.1, mandatory changes of law or extraordinary adverse changes of the market conditions such as currency and goods price fluctuations or any adverse material reason attributable to the Purchaser, within 3 (three) months from its conclusion/placing, by submitting to the Purchaser a statement on rescission which shall include reasons for such rescission (contractual right of withdrawal). 2. In the event of rescission by ▇▇▇▇▇ from the Agreement and arising Order/Purchase Order, for reasons attributable to the Purchaser, Menlo shall be entitled to retain for its benefit a compensation in an amount equivalent to 5% of the gross value of the Order. 3. Upon the rescission of the Agreement, unless stated otherwise, the parties shall be released from their obligations arising under the Agreement, except for the obligations under Section 13 which shall remain unaffected by the rescission.
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Rescission of the Agreement. In the event that it is determined by the procedure set forth in Section 14.6 that a representation or warranty of Biosource under Sections 10.1.1 to 10.1.11 contains as of the Effective Date an untrue statement or omits to state any material fact which if known would have more likely than not have caused a reasonable party in the position of TDCC to not enter into this Agreement on
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Rescission of the Agreement. Until the Lessee pays the Lessor the interim price (where there is no interim price, the balance), the Lessor may repay double the contract price and rescind this Agreement or the Lessee may renounce the contract price and rescind this Agreement.
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Rescission of the Agreement. Until the Sublessee pays the Sublessor the interim price (where there is no interim price, the balance), the Sublessor may repay double the contract price and rescind this Agreement or the Sublessee may renounce the contract price and rescind this Agreement.
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Rescission of the Agreement. 5.1 Party A shall conduct a phased assessment of Party B’s work. If Party B’s work fails to meet Party A’s requirements, Party A has the right to rescind the Agreement. 5.2 If this Agreement cannot be performed continuously or Party A’s reputation and financial situation is seriously damaged because Party B’s work infringes on others’ copyrights, Party A has the right to rescind the Agreement. 5.3 If Party B breaches the confidentiality obligations in the Agreement, Party A has the right to rescind the Agreement. 5.4 If Party A maliciously delays paying Party B the service fee in this Agreement without justified reasons and still fails to fulfill the payment obligation after two written reminders from Party B, Party B has the right to rescind the Agreement. 5.5 If the Agreement is changed or rescinded, a written notice shall be sent to the other party, and the change or rescission of the Agreement shall take effect as of the date when the notice reaches the other party.
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Rescission of the Agreement. (a) The parties undertake that the Company may bring this Agreement to an end upon any of the following events occurring: (1) If a receiving order is made against the Lessee, on condition that it has not been vacated within 45 days. (2) If a judgment has been granted to wind up the Lessee, on condition that it has not been vacated within 45 days. (3) If a receiver is appointed over the Lessee’s assets, on condition that such appointment has not been vacated within 45 days. The Company will notify the Lessee in writing of the termination of the Agreement and such termination will be deemed to be effective from the date of the filing of the application against the Lessee for the grant of a receiving order or application for a creditor’s arrangement or petition for the winding up or petition for enforcing charges and/or to appoint a receiver, on condition that such application or petition has not been vacated within 45 days of the date of the presentation thereof. (b) In addition to any other relief which the Company is entitled to ▇▇▇ for under this Agreement and/or at law, and without derogating from the generality of the foregoing, the Company will be entitled to bring about the rescission of this Agreement after giving 14 days’ notice, in the following cases: (1) The Premises is being used otherwise than in accordance with that detailed in clause 7. (2) The creation of a nuisance in a manner which disturbs and/or which may disturb the offices and/or enterprises and/or businesses in the neighborhood of these Premises. (3) The doing of any act which is contrary to the provisions of clause 12(a) and/or 15 of this Agreement above. (4) The non-payment of two instalments of Rent and ancillary payments under this Agreement, and after written notice will have been given to the Lessee and 30 days have passed and such sums remain unpaid. (5) The failure to provide the Bank Guarantee mentioned in clause 5 above by 15/6/2000. (c) In the event of the rescission of the Agreement or the Company having given notice of the rescission or termination thereof, the Lessee will vacate the Premises within 30 days of receiving such notice. (d) The provisions of this clause will not serve to derogate from the Company’s rights under this Agreement or at law. (e) If the Lessee has been evicted from the Premises in respect of that stated in sub-clause (a) or (b) above, the Lessee will not be entitled to any compensation and/or payment for any reason whatsoever from the Company.
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Rescission of the Agreement. 42. If the Court refuses to approve this Agreement or any part hereof, or with respect to court approval if such approval is modified or set aside on or following appeal, remand, or other proceedings, or if the Court does not enter the Final Judgment provided for in Paragraph 29 of this Agreement, or if the Court enters the Final Judgment but on or following appeal, remand, or other proceedings, such Final Judgment is modified or reversed, then Defendants and Plaintiffs shall each, in their sole discretion, have the option to rescind this Agreement in its entirety. A modification or reversal on or following appeal, remand, or other proceedings, of any amount of Settlement Class Counsel’s fees and expenses awarded by the Court or any plan of allocation of the Settlement Fund shall not be deemed a modification of all or a part of the terms of this Agreement or such Final Judgment. 43. Defendants shall also have the right to terminate the Settlement Agreement upon the occurrence of a condition relating to members of the Settlement Class who have timely exercised their rights to be excluded from the Settlement Class as set forth in separate agreement, dated July 6, 2021 (“Confidential Supplement”) executed between Settlement Class Counsel and Defendants' Counsel, and prior to the entry of the Final Judgment. The Confidential Supplement shall not be filed with the Court except that the substantive contents of the Confidential Supplement may be brought to the attention of the Court, in camera, if so requested by the Court or as otherwise ordered by the Court. The Parties will keep the terms of the Confidential Supplement confidential, except if compelled by judicial process to disclose the Confidential Supplement. 44. Defendants and Plaintiffs expressly reserve all of their rights if this Agreement is rescinded or terminated. In the event that this Agreement is rescinded or terminated, or the Effective Date fails to occur for any reason, then the parties to this Agreement shall be deemed to have reverted to their respective statuses in the Action as of 90 days prior to the Execution Date, and, except as otherwise expressly provided herein, the parties shall proceed in all respects as if the Agreement and any related orders had not been entered. In addition, if for any reason (including a party’s exercise of a valid right to rescind or terminate this Agreement), this Agreement does not receive final Court approval or that approval is reversed on appeal or remand,...
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Rescission of the Agreement. 1. The GOVERNOR may rescind this Agreement in accordance with Article 13.012 of the Autonomous Municipalities Act only if it is determined that the MUNICIPALITY has committed gross negligence, fraud or criminal conduct in the implementation of the Agreement. 2. The GOVERNOR may rescind the transfer of any or all categories for the causes described in the previous paragraph, but may not rescind a lower category without rescinding the higher categories. 3. If the Agreement is rescinded, the transferred powers shall return to the PLANNING BOARD or the PERMITS MANAGEMENT OFFICE, as applicable, after an audit and inventory. The MUNICIPALITY shall submit an inventory of projects in the process of evaluation to said agencies by means of a sworn certification.
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Rescission of the Agreement. Without derogating from any other right of the parties it is hereby agreed that the Contracts Law, including the Contracts of Remedies Law will apply to this Agreement, including the right of rescission following a fundamental breach of the Agreement. It is agreed that in any event, even in the case of a fundamental breach, the Agreement will not be rescinded before notice is given to allow the infringor to rectify the breach within a reasonable time. Without derogating from that stated it is hereby agreed that the following breaches will be deemed to be a fundamental breach: (a) Delay in payment exceeding four months; (b) Transfer of rights in the Premises contrary to this Agreement; (c) Use otherwise than according to the permit of the property affecting the Company’s rights or causing it damages; (d) Failure to effect repairs or maintenance by the Lessee in a manner that materially affects the Building; (e) A liquidator or receiver being appointed for the Lessee’s assets and the appointment not being vacated within six months.
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Related to Rescission of the Agreement

  • Modification of the Agreement Notwithstanding any of the provisions of this Agreement, the parties may agree to amend this Agreement. No alteration or variation of the terms of this Agreement shall be valid unless made in writing and signed by the parties hereto. No oral understanding or agreement not incorporated herein shall be binding on any of the parties hereto.

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Execution of the Agreement The Company, the party executing this Agreement on behalf of the Company, and the Consultant, have the requisite corporate power and authority to enter into and carry out the terms and conditions of this Agreement, as well as all transactions contemplated hereunder. All corporate proceedings have been taken and all corporate authorizations and approvals have been secured which are necessary to authorize the execution, delivery and performance by the Company and the Consultant of this Agreement. This Agreement has been duly and validly executed and delivered by the Company and the Consultant and constitutes a valid and binding obligation, enforceable in accordance with the respective terms herein. Upon delivery of this Agreement, this Agreement, and the other agreements and exhibits referred to herein, will constitute the valid and binding obligations of Company, and will be enforceable in accordance with their respective terms. Delivery may take place via facsimile transmission.

  • Application of the Agreement (1) This Agreement shall apply to investments made in the territory of either Contracting Party in accordance with its legislation by investors of the other Contracting Party prior as well as after the entry into force of this Agreement. (2) This Agreement shall not apply to claims which have been settled or procedures which have been initiated prior to its entry into force.

  • Duration of the Agreement This Agreement shall come into effect on the day and year stated in Box 4 and shall continue until the date stated in Box 17. Thereafter it shall continue until terminated by either party giving to the other notice in writing, in which event the Agreement shall terminate upon the expiration of a period of two months from the date upon which such notice was given.