Termination and its Consequences Clause Samples

The 'Termination and Its Consequences' clause defines the conditions under which a contract may be ended by either party and outlines the resulting obligations and procedures following termination. Typically, this clause specifies the grounds for termination, such as breach of contract or insolvency, and details the steps each party must take, such as returning confidential information or settling outstanding payments. Its core practical function is to provide a clear framework for ending the contractual relationship and managing the aftermath, thereby reducing uncertainty and potential disputes.
Termination and its Consequences. 8.1 The SSB acknowledges that if the IMC shall fail to enter into the IMC Service Agreement with the Government in accordance with Clause 7.1 above, the Government shall be entitled to terminate forthwith this Agreement. 8.2 This Agreement shall come to an end upon – (a) the termination of the IMC Service Agreement; or (b) the termination of the Tenancy Agreement between the SSB and the Government other than reason pursuant to Clause 6.3; or (c) the termination of the Tenancy Agreement between the IMC and the Government as referred to in Clause 6.2; whichever occurs earlier. 8.3 The Government shall be entitled to terminate this Agreement forthwith if the SSB shall go into liquidation (other than a voluntary liquidation for the purpose of amalgamation or reconstruction) or if a receiver has been appointed over any of its assets. 8.4 The Government and the SSB may by mutual agreement terminate the SSB Service Agreement at any time. 8.5 On termination of this Agreement – (a) all rights and obligations of the parties under this Agreement shall terminate except for such rights of actions as shall have accrued prior thereto and any obligations which expressly or by implication are intended to come into or continue in force on or after such expiration or termination; and (b) the SSB shall, wherever possible, provide Government with information on all contracts made by the SSB so as to enable the Government to ensure smooth operation of the School; and (c) the SSB shall facilitate the Government as far as practicable to prepare for taking over the operation of the School and/or allocating the School to a new operator, including but not limited to assigning or procuring the assignment to the Government and/or the new operator the rights of the SSB in all or any of the contracts relating to the operation of the School.
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Termination and its Consequences. At any time the University may request a review of Your Activities. If the review is unsatisfactory or, if You do not co-operate in the review, the University may terminate this Agreement on giving You one week’s written notice.
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Termination and its Consequences. At any time the University may, by written notice to You, request a review of the Activities, to be held within one week of the date of that notice or such later date as may be agreed. At the end of the review or, if You do not co-operate in the review, , the University may terminate this Agreement on giving You one week’s written notice. At any time the University may, by one month's written notice to You, terminate this Agreement where the University has an urgent need for the accommodation or facilities You are using as part of the Activities. The University may by written notice to You and Your Employer/Home Institution immediately terminate this Agreement in case of (1) serious misconduct and/or serious negligence and/or (2) where You or Your Employer/Home Institution has materially breached this Agreement and the breach is irremediable or (where the breach is remediable) You or Your Employer/Home Institution has failed to remedy that breach within thirty days of the date of service of a written notice specifying the breach and requiring that it be remedied and/or (3) where necessary for reasons of security or health and safety. All property and information, including confidential information, in whatever form, belonging to or in the trust of the University which may come into Your possession during the course of the Activities, must be surrendered by You to Your Supervisor or the Head of Department on termination or expiry of this Agreement, or upon request at any other time.
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Termination and its Consequences. 6.1 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement forthwith if – (a) the Tenancy Agreement is not entered into or is terminated or expires without renewal; or (b) the Government resumes all or part of the School Premises for the improvement of Hong Kong or for any other public purpose; or (c) the SSB enters into liquidation whether compulsory or voluntary, or the SSB is no longer incorporated in Hong Kong under the [Title of Ordinance] for any other reason; or (d) the SSB and/or the School ceases to be exempt from tax by virtue of section 88 of the Inland Revenue Ordinance; or (e) the Government reasonably believes that the School is not in operation; or (f) the SSB commits any material breach of the provisions of this Agreement, whichever occurs earlier. 6.2 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement by giving three months’ notice if – (a) the Government reasonably believes that the School could not commence operation on the date specified by the Government; or (b) the SSB fails to produce a proposed school development plan to the satisfaction of and accepted by the Government within one year after the School has commenced operation or on such other date as mutually agreed between the Government and the SSB. 6.3 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement by giving nine months’ notice if the Government reasonably believes that – (a) the SSB fails to manage and operate the School in accordance with the Proposed School Plan and/or the School Development Plan; or (b) the School fails to pursue or attain full accreditation status from any of the academic accreditation body(s) as stated in the Proposed School Plan and/or the School Development Plan before the expiry of this Agreement, or fails to renew the said full accreditation status by such time as may be specified by the Government; or (c) the School fails to provide the minimum number of school places as specified in Condition 1 of Schedule One; or (d) the student enrolment of the School fails to reach [ ]% of the minimum number of school places as approved by the Government within [ ] years after the School has commenced operation. 6.4 The Government and the SSB may by mutual agreement terminate this Agreement at any time. 6.5 On the expiration or termination of this Agreement – (a) all rights and obligations of the parties under this Agreement shall terminate except for suc...
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Termination and its Consequences. 18.3.1 Either Party has the right to mutually or unilaterally terminate / withdraw their participation in this Agreement, in whole or in part, for non - performance by the other Party, based on yearly detailed reviews, by giving the other Party 3 months written notice. In the event of such termination, all payments due to Upgrad shall be paid by the IMI up to the date of termination. 18.3.2 In the event either Party wishes to terminate the Agreement without reason, it shall communicate to the other Party its intention to terminate the Agreement by written notice of 3 months to the other effective from the date of service of such notice. 18.3.3 Either Party shall have the option to terminate the Agreement, in whole or in part, in case of material breach of any of the terms and conditions of this Agreement, which has not been cured within 30 days of notice, by any Party to this Agreement, by giving a written notice of 15 days and upon such termination, the Party causing the breach shall be liable to the other Party for the costs and consequences arising out of such breach. 18.3.4 However, no such termination as specified above shall effect:
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Termination and its Consequences. The Agreement may be terminated by either Party in accordance with the following: 13.1. Upon material breach of this Agreement by either Party which is not cured within thirty (30) days of receipt of notification from the non-breaching Party, the non-breaching Party shall be free to terminate the Agreement forthwith; 13.2. Either Party may terminate the Agreement forthwith in writing if i. the other Party is adjudged bankrupt, or makes a general assignment for the benefit of its creditors, or
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Termination and its Consequences. If either party applies for termination of this Contract, such party shall give a fifteen (15) days’ prior written notice to the other party. The above provisions are applicable to the following circumstances: (1) The Parties reach a written agreement over termination of this Contract upon negotiation; (2) If this Contract is unable to continue to be performed due to Force Majeure, either party may terminate this Contract. (3) If either party loses its subject qualification, such as such party has its subject qualification canceled or enters into bankruptcy or liquidation proceedings, the other party shall have the right to terminate this Contract, provided, however that the provisions of the preceding paragraph are not applicable to reorganization, name change or division or merger with a third party; (4) If either party fails to perform or breaches its obligations hereunder and ceases to perform such obligations or does not take remedial measures within such reasonable period as granted by the other party, which causes the other party to be unable to realize the anticipated profits in accordance with this Contract or that there is no need to continue to perform this Contract, the other party shall have the right to terminate this Contract. (5) Other circumstances in which this Contract cannot be performed and has to be terminated.
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Termination and its Consequences. 38 ----------- 10.1 Termination of Agreement................................................................... 38 10.2
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Termination and its Consequences 
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Related to Termination and its Consequences

  • Termination Consequences In the event of this agreement being determined whether by effluxion of time Notice breach or otherwise:

  • TERMINATION AND CONSEQUENCES OF TERMINATION Either Party may immediately terminate this Agreement upon written notice if this other Party: materially breaches this Agreement, and such breach is incapable of cure, or, if the breach is capable of cure, fails to cure such breach within [NUMBER] days after receiving written notice of the breach; becomes insolvent or is generally unable to pay its debts as they become due; files, or has filed against it, a petition for voluntary or involuntary bankruptcy, or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; makes or seeks to make a general assignment for the benefit of its creditors; applies for, or has appointed, a receiver, trustee, custodian, or similar agent by order of a court of competent jurisdiction to take charge of or sell any material portion of its property or business; or is dissolved or liquidated. The expiration or termination of this Agreement shall not affect any rights or obligations that: (i) are intended to survive such expiration or termination; and (ii) were incurred by the Parties prior to such expiration or termination. Upon the expiration or termination of this Agreement for any reason, each Party shall promptly: [return to the other Party/destroy] all documents and tangible materials (including any copies) containing, reflecting, incorporating, or based on the other Party’s Confidential Information; permanently erase all of the other Party’s Confidential Information from its computer systems, [except for copies that are: (i) required to be retained under applicable laws; or (ii) maintained as archive copies on its disaster recovery or information technology backup systems, which shall be destroyed upon the normal expiration of such backup files, or as otherwise required by law]; and certify in writing to the other Party that it has complied with these requirements.

  • CONSEQUENCES OF TERMINATION AND EXPIRY 28.1 Notwithstanding the service of a notice to terminate this Framework Agreement, the Supplier shall continue to fulfil its obligations under this Framework Agreement until the date of expiry or termination of this Framework Agreement or such other date as required under this Clause 28 (Consequences of Termination and Expiry). 28.2 Termination or expiry of this Framework Agreement shall not cause any Call-Off Contracts to terminate automatically. For the avoidance of doubt, all Call-Off Contracts shall remain in force unless and until they are terminated or expire in accordance with the terms of the Call-Off Contract and the Supplier shall continue to pay any Management Charges due to the Authority in relation to such Call-Off Contracts, notwithstanding the termination or expiry of this Framework Agreement. 28.3 If the Authority terminates the Framework Agreement under Clause 26.8 (Termination of Default), and then makes other arrangements for the provision of the Services, the Authority shall be entitled to recover from the Supplier the reasonable additional costs charged by a third party for the provision of the Services and any additional expenditure incurred by the Authority as a result of such a default. Where the Framework Agreement is terminated under Clause 26.8, no further payments shall be payable by the Authority until the Authority has established the final cost of making those other arrangements. 28.4 Within ten (10) Working Days of the date of termination or expiry of this Framework Agreement, the Supplier shall return to the Authority any Authority’s Confidential Information in the Supplier's possession, power or control, either in its then current format or in a format nominated by the Authority, and any other information and all copies thereof owned by the Authority, save that it may keep one copy of any such data or information for a period of up to twelve (12) Months to comply with its obligations under this Framework Agreement or under any Law, or such other period as is reasonably necessary for such compliance. 28.5 The Authority shall be entitled to require access to data or information arising from the provision of the Services by the Supplier until the latest of: 28.5.1 the expiry of a period of twelve (12) Months following termination or expiry of this Framework Agreement; or 28.5.2 the expiry of a period of three (3) Months following the date on which the Supplier ceases to provide Ordered Services under any Call-Off Contract. 28.6 Termination or expiry of this Framework Agreement shall be without prejudice to any rights, remedies or obligations of either Party accrued under this Framework Agreement prior to termination or expiry. 28.7 The provisions of Clauses 3 (Scope of Framework Agreement), 6 (Ordering Procedures), 8 (Warranties and Representations), 9 (Prevention of Bribery and Corruption), 10 (Conflicts of Interest), 11 (Safeguard Against Fraud), 12 (Call-Off Contract Performance), 15 (Provision of Management Information), 16 (Management Charge), 17 (Records and Audit Access), 19 (Confidentiality), 21 (Official Secrets Acts), 22 (Data Protection), 23 (Freedom of Information), 28 (Consequences of Termination and Expiry), 29 (Liability), 30 (Insurance), 34 (Rights of Third Parties), 37 (Waiver and Cumulative Remedies) and 47 (Law and Jurisdiction), Framework Agreement Schedules 1 (Services), 2 (Sub-Contractors), 3 (Charging Structure), 5 (Ordering Procedure), 7 (Value for Money), 8 (Management Information), 9 (Self Audit Certificate), 11 (Guarantee), 12 (Commercially Sensitive Information), 13 (Standards), 14 (Management), and, without limitation to the foregoing, any other provision of this Framework Agreement which expressly or by implication is to be performed or observed notwithstanding termination or expiry shall survive the termination or expiry of this Framework Agreement.

  • Financial Consequences The Department reserves the right to impose financial consequences when the Contractor fails to comply with the requirements of the Contract. The following financial consequences will apply for the Contractor’s non-performance under the Contract. The Customer and the Contractor may agree to add additional Financial Consequences on an as-needed basis beyond those stated herein to apply to that Customer’s resultant contract or purchase order. The State of Florida reserves the right to withhold payment or implement other appropriate remedies, such as Contract termination or nonrenewal, when the Contractor has failed to comply with the provisions of the Contract. The Contractor and the Department agree that financial consequences for non-performance are an estimate of damages which are difficult to ascertain and are not penalties. The financial consequences below will be paid and received by the Department of Management Services within 30 calendar days from the due date specified by the Department. These financial consequences below are individually assessed for failures over each target period beginning with the first full month or quarter of the Contract performance and every month or quarter, respectively, thereafter. Deliverable Performance Metric Performance Due Date Financial Consequence for Non-Performance Contractor will timely submit completed Quarterly Sales Reports All Quarterly Sales Reports will be submitted timely with the required information Reports are due on or before the 30th calendar day after the close of each State fiscal quarter $250 per Calendar Day late/not received by the Contract Manager Contractor will timely submit completed MFMP Transaction Fee Reports All MFMP Transaction Fee Reports will be submitted timely with the required information Reports are due on or before the 15th calendar day after the close of each month $100 per Calendar Day late/not received by the Contract Manager

  • Termination and Expiration 13.1 YALE shall have the right to terminate this Agreement after written notice to LICENSEE in the event LICENSEE: (a) fails to make any material payment due and payable pursuant to this Agreement unless LICENSEE shall make all such payments (and all interest due on such payments under Article 6.4) within the thirty (30) day period after receipt of written notice from YALE; or (b) commits a material breach of any other provision of this Agreement which is not cured (if capable of being cured) within the sixty (60) day period after receipt of written notice thereof from YALE, or upon receipt of such notice if such breach is not capable of being cured; or (c) fails to obtain or maintain adequate insurance as described in Article 14, whereupon YALE may terminate this Agreement immediately upon written notice to LICENSEE. 13.2 This Agreement shall terminate automatically without any notice to LICENSEE in the event LICENSEE shall cease to carry on its business or becomes INSOLVENT, or a petition in bankruptcy is filed against LICENSEE and is consented to, acquiesced in or remains undismissed for sixty (60) days, or LICENSEE makes a general assignment for the benefit of creditors, or a receiver is appointed for LICENSEE. [***] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 13.3 LICENSEE shall have the right to terminate this Agreement upon written notice to YALE: (a) at any time on three (3) months’ notice to YALE, provided LICENSEE is not in breach and upon payment of all amounts due YALE throughout the effective date of termination; or (b) in the event YALE commits a material breach of any of the provisions of this Agreement and such breach is not cured (if capable of being cured) within the sixty (60) day period after receipt of written notice thereof from LICENSEE, or upon receipt of such notice if such breach is not capable of being cured, 13.4 Upon termination of this Agreement for any reason, all rights and licenses granted to LICENSEE under the terms of this Agreement are terminated. Upon such termination, and subject to Article 13.4, YALE may elect, in its sole discretion, to cause LICENSEE, its SUBLICENSEES, or AFFILIATES to immediately cease to manufacture or sell some or all ROYALTY PRODUCTS. Within sixty (60) days after the effective date of termination LICENSEE shall return to YALE: (a) all materials relating to or containing the POOLED PATENTS and CONFIDENTIAL INFORMATION disclosed by YALE; (b) the last report required under Article 7 or 9; and (c) all payments incurred up to the effective date of termination. LICENSEE’S payment obligations under the Agreement shall terminate upon the effective date of termination except with respect to payments incurred prior to such effective date. Notwithstanding the foregoing, in the event that YALE elects to allow LICENSEE, its SUBLICENSEES, or AFFILIATES to continue to manufacture and sell ROYALTY PRODUCTS, LICENSEE (or its SUBLICENSEES or AFFILIATES) shall continue to pay royalties to YALE until the earlier of the events to occur in Article 6.1(d)(i) for each such ROYALTY PRODUCT. Also upon termination of this Agreement, all sublicenses to the POOLED PATENTS that are granted by LICENSEE pursuant to this Agreement shall also terminate on the date of termination of this Agreement subject to Article 13.4(c). Notwithstanding the foregoing, each SUBLICENSEE shall have the continuing obligation to pay EARNED ROYALTIES to YALE on any ROYALTY PRODUCT (including those covered only by POOLED PATENTS owned solely by LICENSEE) after any such termination, and shall continue until the earlier of the events to occur in Article 6.1(d)(í) for each such ROYALTY PRODUCT. 13.5 Termination of this Agreement shall not affect any rights or obligations accrued prior to the effective date of such termination and specifically LICENSEE’s obligation to pay all royalties and other payments specified by Articles 4, 5 and 6. The following provisions shall survive any termination: Article