Common use of Brexit Clause in Contracts

Brexit. The Company shall notify the Customer should it suffer any adverse impact on this Agreement occurring at any time following UK’s decision to cease to be a Member State of the European Union as a result of a Brexit Event. A Brexit Event shall include but not be limited to: (a) Changes in law; (b) Increases in costs, fluctuating exchange rates, tariffs or other duties tax or levy imposed on exports or imports, changes to pricing of products or services incurred by the Company in performing the Agreement since the price of the product or service was agreed; (c) Restrictions on the ability to perform the obligations under the Agreement; (d) Changes or new requirements for licenses or consents; (e) Delays in export or import of products or services due to controls, processes or restrictions; (f) Any other change to the business or economic environment in which the Company operates that may be unforeseen at the date of this Agreement. Following such notice the Company shall be entitled to adjust the Contract Price and any other charges, after taking all reasonable steps to mitigate any additional costs and expenses, from the date of receipt of such notice so that the Company is financially no worse off than if the Brexit Event had not occurred. In addition it is further agreed that the Company shall have no liability for any delays to programme or delivery or any penalties costs or damages that are associated with any programme or delivery in the event that such delay is caused by a Brexit Event