Common use of Term Termination and Effects of Termination Clause in Contracts

Term Termination and Effects of Termination. 13.1. This Agreement shall be in force from Effective Date and shall remain in force unless terminated by either Party in accordance with the provisions of this Agreement. Provided however the term of this Agreement shall not take effect till such time the documents, applications, details, information (Collectively referred to as “Documents”) provided by the Entity to One97 are processed and approved by One97 and intimation to that effect has been provided to the Entity by One97 (either through Email or by any other electronic mode of communication) within fifteen (15) days of Entity submitting the said Documents either electronically or otherwise. 13.2. Either Party can terminate this Agreement for any reason whatsoever by providing an prior written notice of thirty (30) days in writing to the other party. 13.3. Notwithstanding anything contained in this Agreement, either Party may forthwith terminate this Agreement under any one or more of the following conditions: a. In the event of default of performance of any of the obligations by the Party under this Agreement or the services provided herein being in contravention of any regulatory requirements or law, as may be applicable from time to time, or industry practice, or under the circumstances which would amount to objectionable service; b. If a petition for insolvency is filed against the other Party and such petition is not dismissed within ninety (90) days after filing and/or if the other Party makes an arrangement for the benefit of its creditors or, if the court receiver is appointed as receiver of all/any of properties of the other Party. 13.4. Notwithstanding anything contained herein if One97 has reasonable ground to believe that the Entity has breached terms of this Agreement including but not limited to selling any Prohibited Items as per Schedule C, or is in receipt of complaint that Entity is indulging in the unlawful, illegal, fraudulent, misleading, unfair practices, malpractices, One97 shall have right to suspend the services and/or terminate this Agreement forthwith without giving any prior written notice. 13.5. It is hereby agreed and understood by the Parties that the provisions of this Clause shall not limit or restrict nor shall they preclude any Party from pursuing such further and other legal actions, against the other Party for any breach or non-compliance of the terms of this Agreement. 13.6. The termination of this Agreement shall not affect the rights or liabilities of either Party incurred prior to such termination. In addition, any act performed during the term of this Agreement which may result in a dispute post termination or any provision expressed to survive this Agreement or to be effective on termination or the obligations set out in this Clause shall remain in full force and effect notwithstanding termination. Subject to other Clauses of this Agreement, both Parties shall undertake to settle all outstanding charges within 30 (thirty) days of the termination taking effect.

Term Termination and Effects of Termination. 13.115.1. This Agreement shall be in force from Effective Date and shall remain in force unless terminated by either Party in accordance with the provisions of this Agreement. Provided however the term of this Agreement shall not take effect till such time the documents, applications, details, information (Collectively referred to as “Documents”) provided by the Entity to One97 are processed and approved by One97 and intimation to that effect has been provided to the Entity by One97 (either through Email or by any other electronic mode of communication) within fifteen (15) days of Entity submitting the said Documents either electronically or otherwise. 13.215.2. Either Party can terminate this Agreement for any reason whatsoever by providing an prior written notice of thirty (30) days in writing to the other partyParty. 13.315.3. Notwithstanding anything contained in this Agreement, either Party may forthwith terminate this Agreement under any one or more of the following conditions: a. In the event of default of performance of any of the obligations by the Party under this Agreement or the services provided herein being in contravention of any regulatory requirements or law, as may be applicable from time to time, or industry practice, or under the circumstances which would amount to objectionable service; b. If a petition for insolvency is filed against the other Party and such petition is not dismissed within ninety (90) days after filing and/or if the other Party makes an arrangement for the benefit of its creditors or, if the court receiver is appointed as receiver of for all/any of properties of the other such Party. 13.415.4. Notwithstanding anything contained herein if If One97 has reasonable ground to believe that the Entity has breached terms of this Agreement including but not limited to by selling any Prohibited Items as per Schedule CII, or is in receipt of complaint that Entity is indulging in the unlawful, illegal, fraudulent, misleading, unfair practices, malpractices, One97 it shall have right to suspend the services and/or terminate this Agreement forthwith without giving any prior written notice. 13.515.5. It is hereby agreed and understood by the Parties that the provisions of this Clause shall not limit or restrict nor shall they preclude any Party from pursuing such further and other legal actions, against the other Party for any breach or non-compliance of the terms of this Agreement. 13.615.6. The termination of this Agreement shall not affect the rights or liabilities of either Party incurred prior to such termination. In addition, any act performed during the term of this Agreement which may result in a dispute post termination or any provision expressed to survive this Agreement or to be effective on termination or the obligations set out in this Clause shall remain in full force and effect notwithstanding termination. Subject to other Clauses of this Agreement, both Parties shall undertake to settle all outstanding charges within 30 thirty (thirty30) days of the termination taking effect. 15.7. Upon the termination or expiration of this Agreement for any reason whatsoever, either Party shall: (a) Immediately refrain from any action that would or may indicate any relationship between it and the other Party. (b) Immediately cease to use in any manner whatsoever the trademarks, name of either Party or its corporate logo in any future correspondence/ communications. (c) Forthwith hand over to either Party the possession of all documents, material and any other property belonging to either Party that may be in the possession of the either Party or any of its employees, agents or individuals assigned to perform the services under this Agreement. 15.8. The expiration or termination of this Agreement shall be without prejudice to the accrued rights and obligations of the Parties and all such accrued rights and obligations shall remain in full force and effect and be enforceable not withstanding such expiry or termination.