Adjustment of an unfair contract term Sample Clauses

Adjustment of an unfair contract term. By virtue of Section 36 of the Finnish Contracts Act (228/1929, as amended, in Finnish: laki varallisuusoikeudellisista oikeustoimista), a provision in an agreement may be adjusted or set aside (by a court) if the provision is considered unreasonable or if the enforcement of such provision would lead to an unreasonable result. The wording of the relevant section is: If a contract term is unfair or its application would lead to an unfair result, the terms may be adjusted or set aside. In determining what is unfair, regard shall be had to the entire contents of the contract, the position of the parties, the circumstances prevailing at and after the conclusion of the contract, and to other factors. If a term referred to in paragraph 1 is such that it would be unfair to enforce the remainder of the contract after the adjustment of the term, the rest of the contract may also be adjusted or declared terminated. When determining the question of whether a provision is unreasonable or not, a court shall, according the Contracts Act, evaluate the agreement as a whole, the relationship between the parties and the circumstances during which the contract was made and those prevailing thereafter. Generally, a provision considered unreasonable under the Contracts Act is modified only to such an extent as to make the contractual relationship balanced and reasonable. Therefore, neither the contract nor the provision as such is usually void, but only amenable until a level of balance and fairness is reached. We note that the ISDA Master Agreements are governed by either New York, English law, French law or Irish law. This means that, in principle, Finnish law would not apply to the ISDA Master Agreements. However, regardless of the choice of law provision in the ISDA Master Agreement, in the event that the ISDA Master Agreement were brought before Finnish courts, Section 36 of the Contracts Act might, due to its mandatory nature, be applied to the ISDA Master Agreement. We are of the opinion that it is not likely that the ISDA Master Agreements would be subject to adjustment or set aside under Section 36 of the Contracts Act. This opinion is based on the fact that the principle of contractual freedom is the basic rule in Finnish contract law, and the adjustment by a court under Section 36 of the Contracts Act, is, in practice, unusual. Under Section 36 of the Contracts Act, Finnish courts have the ability, not the obligation, to adjust a contract. The reasons for the adjust...
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Related to Adjustment of an unfair contract term

  • CONTRACT TERM - RENEWAL In addition to any stated renewal periods in the Contract, any Contract or unit portion thereof let by the Commissioner may be extended by the Commissioner for an additional period(s) of up to one year with the written concurrence of the Contractor and Comptroller. Such extension may be exercised on a month-to-month basis or in other stated periods of time during the one year extension.

  • No Contract Terminations Neither the Company nor any of its subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described in any preliminary prospectus, the Prospectus or any free writing prospectus, or referred to or described in, or filed as an exhibit to, the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its subsidiaries or, to the Company’s knowledge, any other party to any such contract or agreement, which threat of termination or non-renewal has not been rescinded as of the date hereof.

  • Contract Term Extension “Contract Term Extension” means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension.

  • CONDITIONS FOR EMERGENCY/HURRICANE OR DISASTER - TERM CONTRACTS It is hereby made a part of this Invitation for Bids that before, during and after a public emergency, disaster, hurricane, flood, or other acts of God that Orange County shall require a “first priority” basis for goods and services. It is vital and imperative that the majority of citizens are protected from any emergency situation which threatens public health and safety, as determined by the County. Contractor agrees to rent/sell/lease all goods and services to the County or other governmental entities as opposed to a private citizen, on a first priority basis. The County expects to pay contractual prices for all goods or services required during an emergency situation. Contractor shall furnish a twenty-four (24) hour phone number in the event of such an emergency.

  • PREVAILING WAGE RATES - PUBLIC WORKS AND BUILDING SERVICES CONTRACTS If any portion of work being Bid is subject to the prevailing wage rate provisions of the Labor Law, the following shall apply:

  • Contract Term Adjustment “Contract Term Adjustment” means adjustment only as provided for in the three circumstances described in this Subsection. Under these circumstances, the contract term shall be adjusted in writing to include additional calendar days in one or more Normal Operating Seasons equal to the actual time lost, except as limited by paragraph (b) in this Subsection.

  • Contract Termination debarment. A breach of the contract clauses in 29 CFR 5.5 may be grounds for termination of the contract, and for debarment as a contractor and a subcontractor as provided in 29 CFR 5.12.

  • CFR PART 200 Contract Provisions Explanation Required Federal contract provisions of Federal Regulations for Contracts for contracts with ESC Region 8 and TIPS Members: The following provisions are required to be in place and agreed if the procurement is funded in any part with federal funds. The ESC Region 8 and TIPS Members are the subgrantee or Subrecipient by definition. Most of the provisions are located in 2 CFR PART 200 - Appendix II to Part 200—Contract Provisions for Non-Federal Entity Contracts Under Federal Awards at 2 CFR PART 200. Others are included within 2 CFR part 200 et al. In addition to other provisions required by the Federal agency or non-Federal entity, all contracts made by the non- Federal entity under the Federal award must contain provisions covering the following, as applicable.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

  • Requirement to Work Reasonable Overtime The Employer may require any Employee to work reasonable overtime at overtime rates and such Employee shall work overtime in accordance with such requirement.

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