Common use of Election to Reduce Tonnage or Terminate Clause in Contracts

Election to Reduce Tonnage or Terminate. In the event any party elects to invoke Section 2 or 3, above, the party so invoking shall notify the other parties in writing and said notice shall state the notifying party's election to terminate this Agreement or reduce the tonnage to be delivered under this Agreement, effective on a specified date, which said date shall not be earlier than the effective date of the implementation (compliance date) of such law, regulation or order giving rise to the termination; provided, however, that notwithstanding anything to the contrary herein, said specified date shall in no event be earlier than sixty (60) days after the date of delivery of notice.

Election to Reduce Tonnage or Terminate. In the event any either party elects to invoke Section 2 or 3, above, the party so invoking shall notify the other parties party in writing and said notice shall state the notifying party's election to terminate this Agreement or reduce the tonnage to be delivered under this Agreementthereunder, effective on a specified date, which said date shall not be earlier than the effective date of the implementation (compliance date) of such law, regulation or order giving rise to the termination; provided, however, that notwithstanding anything to the contrary herein, said specified date shall in no event be earlier than sixty (60) days after the date of delivery of said notice.