Common use of Cases for termination Clause in Contracts

Cases for termination. Should either of the Parties fail to perform any of its obligations defined in the sub-paragraph below, under this Contract, and without prejudice to the application of other penalties provided in the Contract as a result of such failure or of the suspension of its own obligations, the other Party put the defaulting Party on notice, by letter in recorded delivery with acknowledgement of receipt, to remedy the said established breach(es). If this notice remains without effect after a period of fifteen (15) days, the Party having issued the notice may give notice of termination of the Contract, as a matter of law and without any legal formality, by registered letter with acknowledgement of receipt. Is treated as amounting to a serious breach of this article: o For the TSO: ● Breach of its obligations stipulated in Section 3 “PEG Access and Scheduling, PEG access and all operational points management”. o For the Shipper: ● Breach of its obligations stipulated in article 7 of the General Terms and Conditions. ● Repeated breach of its obligations stipulated in Section 3 “PEG Access and Scheduling, PEG access and all operational points management”.