Common use of Termination, Rescission Clause in Contracts

Termination, Rescission. 17.1 In case of a contract for the performance of a continuing ob- ligation such contract may be unilaterally terminated by the 17.2 Any contract may be unilaterally terminated by the Principal without notice in case of the following: a) Contractor is in default of any of its obligations her- eunder and such default is not remedied within a reasonable period of time defined by the Principal af- ter written complaint is received by Contractor; b) If the Contractor becomes bankrupt, is unable to pay its debts as they fall due, is subject to any threatened or ongoing insolvency or liquidation proceedings, or ceases to carry on business; or c) The purchase or use of the goods or the service is or will be either entirely or partly impermissible due to legal or official regulations; or d) Contractor (or its subcontractor(s)) is in breach of the standards described under clause 4.1 (e.g. relating to child labor, forced and compulsory labor). If the Principal terminates the order for just cause and if addi- tional existing contracts with the Contractor cannot be main- tained for the same grounds for just cause, the Principal is also entitled to terminate other contracts existing at the time of termination and contracts which have not yet been fulfilled on a pro-rata basis. In such events, the Contractor is not en- titled to any further claims for damages, reimbursement of ex- penses or remuneration. 17.3 Further rights legally provided to the Principal regarding ter- mination, termination for good cause and rescission from the contract shall remain unaffected by this clause 17. 17.4 In the event of contract termination, the Contractor must hand over any documents, records, plans or drawings acquired within the scope of the contract and / or for the purpose of fulfilling or due to the contract without further hesitation to the Principal. These requirements apply likewise in the event of rescission.

Termination, Rescission. 17.1 In case of a contract for the performance of a continuing ob- ligation obligation such contract may be unilaterally terminated by the Principal without notice for good cause, provided that the 17.2 Any contract may be unilaterally terminated by the Principal without notice in case of the following: a) Contractor is in default of any of its obligations her- eunder hereunder and such default is not remedied within a reasonable period of time defined by the Principal af- ter after written complaint is received by Contractor; b) If the Contractor becomes bankrupt, is unable to pay its debts as they fall due, is subject to any threatened or ongoing insolvency or liquidation proceedings, or ceases to carry on business; or c) The purchase or use of the goods or the service is or will be either entirely or partly impermissible due to legal or official regulations; or d) Contractor (or its subcontractor(s)) is in breach of the standards described under clause 4.1 (e.g. relating to child labor, forced and compulsory labor). If the Principal terminates the order for just cause and if addi- tional additional existing contracts with the Contractor cannot be main- tained maintained for the same grounds for just cause, the Principal is also entitled to terminate other contracts existing at the time of termination and contracts which have not yet been fulfilled on a pro-rata basis. In such events, the Contractor is not en- titled entitled to any further claims for damages, reimbursement of ex- penses expenses or remuneration. 17.3 Further rights legally provided to the Principal regarding ter- minationtermination, termination for good cause and rescission from the contract shall remain unaffected by this clause 17. 17.4 In the event of contract termination, the Contractor must hand over any documents, records, plans or drawings acquired within the scope of the contract and / or for the purpose of fulfilling or due to the contract without further hesitation to the Principal. These requirements apply likewise in the event of rescission.