IMMEDIATE TERMINATION OF THE AGREEMENT. 12.1 A party has the right to terminate the agreement immediately through written notification to the other party where: a) the other party commits a material breach of the agreement and has not taken corrective action within thirty (30) days after written notice; or b) the other party is placed in bankruptcy, debt renegotiations, liquidation or otherwise can be deemed insolvent or if the other party is placed under a business prohibition and that party does not immediately after a such a request provide satisfactory security for its obligations; or c) if a party without the consent of the other party assigns the agreement to a third party. 12.2 The agreement can be terminated with immediate effect under the conditions stated in subsection 5.3.
Appears in 3 contracts
Samples: Outplacement Services Framework Agreement, Outplacement Services Framework Agreement, Outplacement Services Framework Agreement
IMMEDIATE TERMINATION OF THE AGREEMENT. 12.1
14.1 A party has the right to terminate the agreement immediately through written notification to the other party where:
a) the other party commits a material breach of the agreement and has not taken corrective action within thirty (30) days after written noticenotice to do so; oror
b) the other party is placed in bankruptcy, debt renegotiations, liquidation or otherwise can be deemed to be insolvent or if the other party is placed under a business prohibition and that party does not immediately after a such a request provide satisfactory security for its obligations; or
c) if a party without the consent of the other party assigns the agreement to a third party.
12.2 14.2 The agreement can also be terminated with immediate effect under the conditions stated in immediately according to subsection 5.3.7.3
Appears in 2 contracts
Samples: Framework Agreement, Framework Agreement
