CME Termination If Rules Not Approved. If the CFTC fails to approve the rules that will allow CME to perform the Clearing Services by July 15, 2003, then CME may, within thirty (30) days at its sole discretion, terminate this Agreement (by August 15, 2003) by written notice to CBOT, without application of any cure period, unless the CFTC has approved such rules before CME exercises its right to terminate. Termination by CME pursuant hereto shall not constitute a breach by either Party. If CME does not exercise its right to terminate, then the Agreement shall continue according to its terms.
Appears in 4 contracts
Samples: Clearing Services Agreement (Cbot Holdings Inc), Clearing Services Agreement (Chicago Mercantile Exchange Holdings Inc), Clearing Services Agreement (Cbot Holdings Inc)
