Right of cancellation and termination Clause Samples

The 'Right of cancellation and termination' clause defines the circumstances under which either party may end the agreement before its natural expiration. Typically, this clause outlines the required notice period, acceptable reasons for cancellation or termination—such as breach of contract, insolvency, or mutual agreement—and any procedures that must be followed, like written notification. Its core practical function is to provide both parties with a clear and fair mechanism to exit the contract, thereby managing risk and preventing disputes over how and when the agreement can be brought to an end.
Right of cancellation and termination. The principal cardholder is entitled to cancel the credit agreement in writing within fourteen (14) days of receipt (postmark). The credit agreement shall expire automatically upon cancellation or termination of the credit card agreement. If, however, the terminated principal card is replaced by another principal card from the Issuer with an installment facility or if the principal cardholder terminates the principal card in a bundle without explicitly terminating the credit agreement for the bundle, the credit agreement shall automatically apply to the new card or shall be transferred to the other products in the bundle, in the absence of written instructions to the contrary from the principal cardholder. The Issuer may termi- nate the credit agreement in the event of default by the principal cardholder only if the principal cardholder has failed to pay the mini- mum amount indicated on the monthly statements (see section 3) in four (4)
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Right of cancellation and termination. Any party hereto shall have the right to cancel this contract at any time during its existence upon giving ninety (90) days advance notice of its intention to cancel. Upon the termination of the ninety (90) day period, this contract shall then be canceled, terminated, become null and void and of no further force and effect.
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Right of cancellation and termination. The principal cardholder is entitled to cancel the credit agree- ment in writing within fourteen (14) days of receipt (postmark). The credit agreement shall expire automati- cally upon cancellation or termination of the credit card agreement. If, however, the terminated principal card is replaced by another principal card from the Issuer with an installment facility or if the principal card- holder terminates the principal card in a bundle without explicitly terminating the credit agreement for the bundle, the credit agreement shall automatically apply to the new card or shall be transferred to the other products in the bundle, in the absence of written instructions to the con- trary from the principal cardholder. The Issuer may terminate the credit agreement in the event of default by the principal cardholder only if the principal cardholder has failed to pay the minimum amount indicated on the monthly statements (see section 3) in two (2) consecutive months. Both the principal cardholder as well as the Issuer may also terminate the credit agreement separately at any time with immediate effect (i.e. with no effect on the credit card agreement). All outstanding invoice amounts become due and payable immediately upon termination of the credit agreement. * Your personal spending limit may exceed the maximum product limit. In this case, your personal spending limit is the maximum credit limit. ** You will find your account number on the top left of your monthly card statement or in cardservice. *** The actual credit limit granted may differ from the requested limit.
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Right of cancellation and termination. Should the participant be entitled to a right of cancellation in accordance with Section 5 of these General Terms and Conditions, the following provisions on cancellation and termination by the participant shall only apply after the expiry of the cancellation period. Cancellations will only be accepted by OSD in writing. The following applies to cancellations of individual courses and cancellations of complete course series - as they can only be booked as a package: In the event of cancellation up to 30 days before the start of the course/series, the entire course fee will be refunded minus a processing fee of € 50. In the event of later cancellation or absence, the entire course fee due will be retained. The relevant date for the cancellation and withdrawal of the participant is the date of receipt of the written declaration by OSD. The participant may nominate a replacement in his/her place who can prove that he/she fulfils the necessary admission requirements. In this case, no additional costs will be incurred. Furthermore, OSD may terminate the contract without notice for important reasons, such as sustained disruption of the events, copyright infringements (Section 8.) by the participant or violation of the house rules. This shall not entitle the participant to a refund of the fee. OSD reserves the right to assert further claims for damages.
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Right of cancellation and termination. The principal cardholder is entitled to cancel the credit agreement in writing within fourteen (14) days of receipt (postmark). The credit agreement shall expire automatically upon cancellation or termination of the credit card agreement. If, however, the terminated principal card is replaced by another principal card from the Issuer with an installment facility or if the principal cardholder terminates the principal card in a bundle without explicitly terminating the credit agreement for the bundle, the credit agreement shall automatically apply to the new card or shall be transferred to the other products in the bundle, in the absence of written instructions to the contrary from the principal cardholder. The Issuer may terminate the credit agreement in the event of default by the principal cardholder only if the principal cardholder has failed to pay the minimum amount indicated on the monthly statements (see section 3) in four (4) consecutive months. Both the principal cardholder as well as the Issuer may also termi- nate the credit agreement separately at any time with immediate effect (i.e. with no effect on the credit card agreement). All outstand- ing invoice amounts become due and payable immediately upon termination of the credit agreement.
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Related to Right of cancellation and termination

  • Cancellation and Termination a) The exhibitor shall have the right to cancel this license agreement or downsize by notice in writing to be delivered to MPE. All deposits/payments received by MPE up to the date of notice of cancellation or downsize are non-refundable and non-transferable and the balance of the full cost of the space is due immediately. In the event that the Exhibitor (i) fails to make payments in accordance with the payment schedule setout herein or (ii) fails to appear at the show; MPE reserves the right to cancel this license agreement without notice and all rights of the Exhibitor hereunder shall cease and terminate. MPE will retain any and all deposits/payment(s) made by the Exhibitor as liquidated damages (and not as a penalty) for breach of this license agreement and all payments will be due per the terms of the contract. In the event of either of the above circumstances, MPE has the right to (i) re-rent said space and (ii) bring action against the Exhibitor for payment of the full cost of the space originally licensed from MPE. b) If the Exhibitor violates or breaches any other terms or conditions of this license agreement, all payments made by the Exhibitor and all amounts due to MPE shall be deemed earned by MPE and all deposits received shall be non-refundable and non-transferable. In the event of any violation or breach of the terms and conditions of this license agreement, MPE shall have the right to immediately occupy the space of the violating and/or breaching Exhibitor and utilize it in any manner as MPE deems appropriate, including, but not limited to, re-licensing its use to another exhibitor. The Exhibitor shall not be entitled to any offset or mitigation of the amount due under this license agreement as a result of the use of or payment for the space by another exhibitor in the Show. c) Each covenant by the Exhibitor contained herein is material and of the essence of this license agreement and violation of any term or condition hereof by the Exhibitor shall be a default of the entire agreement entitling MPE to immediately and without notice revoke the privileges granted to the Exhibitor and take possession of the space of the defaulting Exhibitor. Any such revocation of the license granted herein shall be without prejudice to MPE to make any claim for damages or enforcement of the payment of any amounts due pursuant to the terms hereof.

  • Termination and Cancellation 9. 1. Licences will expire after the period shown in Clause 3 (above). 9. 2. Licensee reserves the right to terminate the Licence in the event that payment is not received in full or if there has been a breach of this agreement by you. Appendix 1 — Acknowledgements: Reprinted by permission from [the Licensor]: [Journal Publisher (e.g. Nature/Springer/Palgrave)] [JOURNAL NAME] [REFERENCE CITATION (Article name, Author(s) Name), [COPYRIGHT] (year of publication) For Advance Online Publication papers: Reprinted by permission from [the Licensor]: [Journal Publisher (e.g. Nature/Springer/Palgrave)] [JOURNAL NAME] [REFERENCE CITATION (Article name, Author(s) Name), [COPYRIGHT] (year of publication), advance online publication, day month year (doi: 10.1038/sj.[JOURNAL ACRONYM].)

  • Dissolution and Termination (a) The Company shall not be dissolved by the admission of Substitute Members or Additional Members. The Company shall dissolve, and its affairs shall be wound up, upon: (i) an election to dissolve the Company by the Manager (or, if the Manager has been removed for “cause” pursuant to Section 5.2, an election to dissolve the Company by an affirmative vote of the holders of not less than a majority of the Common Shares then Outstanding entitled to vote thereon); (ii) the sale, exchange or other disposition of all or substantially all of the assets and properties of the Company; (iii) the entry of a decree of judicial dissolution of the Company pursuant to the provisions of the Delaware Act; or (iv) at any time that there are no members of the Company, unless the business of the Company is continued in accordance with the Delaware Act.

  • Liquidation and Termination On dissolution of the Company, the Majority Members may appoint one or more Members as liquidator. The liquidators shall proceed diligently to wind up the affairs of the Company and make final distributions as provided herein and in the Act. The costs of liquidation shall be borne as a Company expense. Until final distribution, the liquidators shall continue to operate the Company properties with all of the power and authority of the Members. The steps to be accomplished by the liquidators are as follows: (a) the liquidator shall pay, satisfy or discharge from Company funds all of the debts, liabilities and obligations of the Company (including, without limitation, all expenses incurred in liquidation) or otherwise make adequate provision for payment and discharge thereof; and (b) all remaining assets of the Company shall be distributed to the Members in accordance with Section 3.5 by the end of the taxable year of the Company during which the liquidation of the Company occurs (or, if later, 90 days after the date of the liquidation). All distributions in kind to the Members shall be made subject to the liability of each distributee for costs, expenses and liabilities theretofore incurred or for which the Company has committed prior to the date of termination, and those costs, expenses and liabilities shall be allocated to the distributees pursuant to this Section 8.2. The distribution of cash and/or property to a Member in accordance with the provisions of this Section 8.2 constitutes a complete return to the Member of its Capital Contributions and a complete distribution to the Member of its interest in the Company and all of the Company’s property and constitutes a compromise to which all Members have consented within the meaning of the Act. To the extent that a Member returns funds to the Company, it has no claim against any other Member for those funds.

  • Dissolution and Termination of Trust (a) This Trust shall continue without limitation of time but subject to the provisions of sub-sections (b) and (c) of this Section 9.4. (b) Notwithstanding anything in Section 9.5 to the contrary, the Trustees may without Shareholder approval (unless such approval is required by the 1940 Act) in dissolution of the Trust or any Class, liquidate, reorganize or dissolve the Trust or any Class in any manner or fashion not inconsistent with applicable law, including, without limitation, (i) sell and convey all or substantially all of the assets of the Trust or any Class to another trust, partnership, limited liability company, association or corporation, or to a separate series or class of shares thereof, organized under the laws of any state or jurisdiction, for adequate consideration which may include the assumption of all outstanding obligations, taxes and other liabilities, accrued or contingent, of the Trust or any Class, and which may include shares of beneficial interest, stock or other ownership interests of such trust, partnership, limited liability company, association or corporation or of a series thereof; or (ii) at any time sell and convert into money all of the assets of the Trust or any Class. Following a sale or conversion in accordance with the foregoing sub-Section 9.4(b)(i) or (ii), and upon making reasonable provision, in the determination of the Trustees, for the payment of all liabilities of the Trust or the affected Class as required by applicable law, by such assumption or otherwise, the Shareholders of each Class involved in such sale or conversion shall be entitled to receive, as a Class, when and as declared by the Trustees, the excess of the assets allocated to that Class over the liabilities allocated to such Class. The assets so distributable to the Shareholders of any particular Class shall be distributed among such Shareholders in proportion to the number of Shares of that Class held by them and recorded on the books of the Trust. (c) Upon completion of the distribution of the remaining proceeds or the remaining assets as provided in sub-section (b), the Trust (in the case of a sale or conversion with respect to the Trust) or any affected Class shall terminate and the Trustees and the Trust or any affected Class shall be discharged of any and all further liabilities and duties hereunder and the right, title and interest of all parties with respect to the Trust or such affected Class shall be cancelled and discharged. Upon termination of the Trust, following completion of winding up of its business, the Trustees shall cause a certificate of cancellation of the Trust’s certificate of trust to be filed in accordance with the Act, which certificate of cancellation may be signed by any one Trustee.