Common use of RIGHTS OF CANCELLATION Clause in Contracts

RIGHTS OF CANCELLATION. 7.1. You may end this agreement if you sell the Property and subject only to the following terms. You must first provide us with: 7.1.1. evidence of the sale and notice in writing of your intention to end this agreement on the next Break Date. Your written notice must be signed and dated, and described as a “Moving Home Break Notice”; 7.1.2. payment for all sums due under clause 2 for Cover from the period from the commencement date of Cover up to and including the next Break Date; 7.1.3. Either party has the right to end the agreement immediately if the other: 7.1.4. has committed a significant breach of the terms unless such breach is capable of remedy and in which case the right to terminate immediately will be exercisable if the other party has failed to remedy the breach within 14 days after a written notice to do so; or 7.1.5. enters into bankruptcy in the case of an individual or liquidation in the case of a company or if a receiver is appointed in respect of the whole or any part of its assets. 7.2. Following termination for any default committed by you, all payments will become due and payable immediately.

RIGHTS OF CANCELLATION. 7.1. You may end this agreement if you You sell the Property and subject only to the following terms. You must first provide us Us with: 7.1.1. evidence of the sale and notice in writing of your Your intention to end this agreement on the next Break Date. Your written notice must be signed and dated, and described as a “Moving Home Break Notice”; 7.1.2. payment for all sums due under clause 2 for Cover from the period from the commencement date of Cover up to and including the next Break Date; 7.1.3. Either party has the right to end the agreement immediately if the other: 7.1.47.1.3.1. has committed a significant breach of the terms unless such breach is capable of remedy and in which case the right to terminate immediately will be exercisable if the other party has failed to remedy the breach within 14 days after a written notice to do so; or 7.1.57.1.3.2. enters into bankruptcy in the case of an individual or liquidation in the case of a company or if a receiver is appointed in respect of the whole or any part of its assets. 7.2. Following termination for any default committed by youYou, all payments will become due and payable immediately.