Common use of Termination and Settlement Clause in Contracts

Termination and Settlement. This contract shall continue in effect until terminated by either party giving fifteen days prior written notice to the other at the address appearing below. Contractor, however, may terminate it immediately, at any time, for any event of default by Subscriber, or if Contractor determines, in its sole discretion, that its performance of this contract is subject to additional risks or economic burdens by reason of the legal or business environment in Subscriber’s country of domicile, including without limitation legislation or regulations impacting Contractor’s ability to obtain payment hereunder in freely transferable USD$. Contractor may revoke the right to use UATP Cards issued hereunder at any time after notice of termination has been given by either party. Proof of dispatch of any notice required or permitted hereunder shall be prima facie evidence that notice was given to the other party. Upon termination, all outstanding UATP Cards issued hereunder must be surrendered promptly to Contractor at its address below. If there are unpaid balances in Subscriber’s UATP Account, Subscriber agrees to remit all amounts due within ten days after receipt of an invoice therefore. If Contractor sues on any debt owed by Subscriber under this contract, Contractor shall be entitled to recover, in addition to the amount of the debt, its costs and attorney’s fees.