Common use of MP Termination Events Clause in Contracts

MP Termination Events. MP has the right, but not the obligation, to terminate this Agreement in the manner described in this Section 13.2 following an occurrence of any of the events, conditions or circumstances specified below (each a “MP Termination Event”); provided however, if such event, condition, or circumstance constitutes an MH Event of Default or an MP Event of Default, then the Parties’ rights and obligations shall be governed by Section 13.1: (a) immediately upon providing notice to MH, if after giving effect to any applicable provisions in this Agreement, at any time during the Contract Term: (i) either Party is no longer a Market Participant; or

Appears in 1 contract

Sources: Non Firm Energy Sale Agreement