Change, termination and cancellation Sample Clauses
The 'Change, termination and cancellation' clause defines the conditions under which a contract or agreement may be modified, ended, or called off by one or both parties. Typically, this clause outlines the procedures for requesting changes, the notice required for termination or cancellation, and any associated fees or penalties. For example, it may specify that either party can terminate the agreement with 30 days' written notice or that certain changes require mutual consent. The core function of this clause is to provide a clear framework for altering or ending the contractual relationship, thereby reducing uncertainty and managing the risks associated with unexpected changes or early termination.
Change, termination and cancellation. 1）If meeting the conditions in Labor Contract Law or upon mutual agreement of both parties, the relevant contents in the labor contract may be changed or a fixed-term contract or non-fixed term contract as well as labor contracts that terminate upon the completion of a certain task may be terminated.
Change, termination and cancellation of This Contract
1. Both parties hereto can terminate, change or cancel this Contract via negotiation.
2. Party A can terminate this Contract unilaterally and take back this Premise, if Party B involves any one of the following cases: ① Party B subleases, sublets or transfers this Premise arbitrarily; ② Party B deals with illegal activities inside this Premise, impairing the public interests; ③ Party B delays in paying rent and property fees for at least 15 days with no just cause; ④ Party B changes the structure of this Premise without Party A’s written consent.
3. If both parties cannot perform this Contract any longer due to force majeure such as national construction demands, both parties hereto can change or cancel this Contract via negotiation.
4. This Contract will become null and void naturally after the expiration of term of lease.
Change, termination and cancellation. ▇▇▇▇▇ agrees to give Seller one hundred and twenty (120) days advance written notice of any project which ▇▇▇▇▇ thinks is likely to permanently change or terminate. ▇▇▇▇▇ agrees to pay for change or termination charges which include, but are not limited to, the costs of unused raw materials and any products which Seller purchased or produced in anticipation of meeting Buyer’s established ordering patterns and lead time requirements; including storage charges on tooling not being used in production. Upon written notice of cancellation by ▇▇▇▇▇, ▇▇▇▇▇▇ agrees to use its best efforts to minimize any applicable termination charges. If no such notice is made, or if less than 120 days advance notice is given, Seller may not have sufficient time to reduce financial exposure to Buyer. This will potentially result in much higher termination costs to be billed. Where Seller has reason to believe a project has been cancelled (due to a lack of orders, lack of communication from Buyer or otherwise), Seller may consider a project terminated and assess termination charges. Seller may cancel this agreement for any reason with one hundred twenty days (120) advance notice to Buyer. Buyer shall give written notice to Seller by the 120th day after the termination notice (or 120 days after termination by failure to place orders) that Buyer wishes to take possession of tooling and if so, tooling will be shipped at Buyer’s expense. If ▇▇▇▇▇ does not arrange and pay for shipment charges by the 120th day, ▇▇▇▇▇’s rights to take possession of tooling shall terminate and Seller may dispose of all tooling including parts or components supplied by Buyer, if any. At termination, tooling, remaining finished goods and in-process inventory, will only be released to Buyer after account balances are paid in full and corresponding receipt of funds has been verified by Seller. ▇▇▇▇▇ agrees to pay for any and all raw materials and packaging where minimum order quantities (MOQ) were required. This includes all approved and non-approved materials (R&D) which Plas-Tech was required to purchase either to a) hold a specific price point or b) was required by the sub- contractor/supplier.