Common use of Termination After Novation Clause in Contracts

Termination After Novation. After the Novation Effective Date, the Major Sub-contractor shall only be entitled to exercise its rights of termination under the Major Sub-contract: (a) in respect of any Event of Contractor Default arising after that date in accordance with the Major Sub-contract; or (b) if the Proposed Substitute does not discharge, within 20 Business Days following the Novation Effective Date, the obligations and Liabilities assumed by it under clause 11.4(b) (read subject to clause 11.4(c)) that relate to matters arising prior to the Novation Effective Date, (in each case subject to the terms of this Deed as it applies after the Novation Effective Date).