Termination for Market Change Clause Samples
The Termination for Market Change clause allows either party to end the agreement if significant changes occur in the market that materially affect the contract's value or feasibility. Typically, this clause outlines specific market events—such as regulatory shifts, drastic price fluctuations, or the emergence of new competitors—that would trigger the right to terminate. Its core function is to protect both parties from being bound to unfavorable or impractical terms due to unforeseen market developments, thereby allocating risk and ensuring flexibility in dynamic business environments.
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Termination for Market Change. (a) In the event of delay or interruption under B8.33, exceeding 90 days, and Contract has not been modified to include replacement timber, this contract may be terminated upon election and written notice by Purchaser, if (i) a rate redetermination for market change under B3.33 shows that the appraised weighted average Indicated Advertised Rate of all Included Timber remaining immediately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the the weighted average Current Contract Rate, or (ii) the appraised value of the remaining timber is insufficient to cover the adjusted base rates as determined under B3.33.
Termination for Market Change. In the event of delay or interruption under I.3.3, exceeding 90 days, this contract may be:
(a) Modified to include rates redetermined under D.3.3 or
(b) Terminated upon election and written notice by Contractor, if a rate redetermination for market change under D.3.3 shows that the appraised weighted average Indicated Advertised Rate of all Included Timber remaining imme- diately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the weighted average Current Contract Rate. Contractor agrees that damages caused by termination of contract by either party will be limited to Out-of-Pocket Expenses.
Termination for Market Change. In the event of delay or interruption under B8.33 exceeding 90 days, this contract may be:
(a) Modified to include rates redetermined under B3.33 or
(b) Terminated upon election and written notice by Contractor, if a rate redetermination for market change under B3.33 shows that the appraised weighted aver- age Indicated Advertised Rate of all Included Timber re- maining immediately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the weighted average Current Contract Rate. Contractor agrees that damages caused by termi- nation of contract by either party will be limited to Out- of-Pocket Expenses.
Termination for Market Change. In the event of delay or interruption under BT8.33, exceeding 90 days, this contract may be:
(a) Modified to include rates redetermined under BT3.33 or
(b) Terminated upon election and written notice by Contractor, if a rate redetermination for market change un- der BT3.33 shows that the appraised weighted average In- dicated Advertised Rate of all Included Timber remaining immediately prior to the delay or interruption has been re- duced through a market change by an amount equal to or more than the weighted average Current Contract Rate. Contractor agrees that damages caused by termina- tion of contract by either party will be limited to Out-of- Pocket Expenses.
Termination for Market Change. (a) In the event of delay or interruption under B8.33, exceeding 90 days, and Contract has not been modified to include replacement timber, this contract may be terminated upon election and written notice by Purchaser, if (i) a rate redetermination for market change under B3.33 shows that the appraised weighted average Indicated Advertised Rate of all Included Timber remaining immediately prior to the delay or interruption has been reduced through a market change by an amount equal to or more than the the weighted average Current Contract Rate, or (ii) the appraised value of the remaining timber is insufficient to cover the adjusted base rates as determined under B3.33.
(b) Prior to termination under this Subsection, Purchaser shall complete all obligations on areas not affected by the delay or interruption.
(c) Damages caused by termination of contract under this Subsection will be limited to Out-of-Pocket Expenses. B8.4 Performance by Other than Purchaser. The acquisition or assumption by another party, under an agreement with Purchaser, of any right or obligation of Purchaser under this contract shall be ineffective as to Forest Service, until Forest Service has been notified of such agreement and Contracting Officer has given written approval. In no case shall such recognition or approval:
(a) Operate to relieve Purchaser of the responsibili- ties or liabilities Purchaser has assumed hereunder or
(b) Be given unless such other party:
(i) Is acceptable to Forest Service as a Pur- chaser of timber and assumes in writing all of the obliga- tions to Forest Service under the terms of this contract as to the uncompleted portion thereof, or
(ii) Acquires the rights in trust as security and subject to such conditions as may be necessary for the protection of the public interests.