Common use of Termination for Failure of Conditions Clause in Contracts

Termination for Failure of Conditions. (a) Subject to Section 2.5(d), each Party shall have the right to terminate this Agreement without liability to either Party arising out of such termination upon notice to the other if any of the conditions set forth in Section 2.3(a) shall not have been satisfied (or waived by Seller in accordance with the requirements of Section 19.8) as of the date specified therein. Such termination right shall remain available until such condition is satisfied or waived. (b) Subject to Section 2.5(d), each Party shall have the right to terminate this Agreement without liability to either Party arising out of such termination upon notice to the other if any of the conditions set forth in Section 2.3(b) shall not have been satisfied (or waived by Buyer in accordance with the requirements of Section 19.8) as of the date specified therein. Such termination right shall remain available until such condition is satisfied or waived. (c) Subject to Section 2.5(d), upon or after valid delivery or receipt of a notice described in Section 2.6(b), each Party shall have the right to terminate this Agreement without liability to either Party arising out of such termination upon notice to the other. If the terminating Party is also the Party delivering the notice described in Section 2.6(b), such Party may include such notice of termination in the notice described in Section 2.6(b).

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement