Mutual Right to Terminate Sample Clauses
The Mutual Right to Terminate clause grants both parties the equal ability to end the agreement under specified circumstances. Typically, this clause outlines the conditions or notice requirements that must be met for either party to exercise this right, such as a material breach, prolonged force majeure, or mutual consent. Its core function is to ensure fairness and flexibility by allowing either side to exit the contract if continuing the relationship becomes untenable or undesirable, thereby protecting both parties from being bound to unfavorable or unworkable terms.
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Mutual Right to Terminate. Either party may terminate this Agreement at any time, with or without cause, and in its sole and absolute discretion, upon thirty (30) days' prior written notice to the other party. This Agreement shall terminate immediately upon the expiration or termination of the master vendor agreement between the Company and the Vendor(s). Upon any termination or expiration of the Agreement, each party shall pay to the other all amounts or accounts payable then owed and unpaid between the parties, if any, within fifteen (15) calendar days of the effective date of such termination or expiration.
Mutual Right to Terminate. In the event the TI Ready Shell Delivery Date does not occur on or before on or before August 1, 2004, due to Force Majeure, either Party shall have the right to terminate this Lease by written notice to the other, and neither party shall have any further rights or obligations hereunder. In the event the Substantial Completion Date does not occur on or before March 1, 2005, either party shall have the right to terminate this Lease by written notice to the other at any time prior to the Substantial Completion Date; provided, however, that the date after which Landlord or Tenant shall have the right to terminate this Lease shall be extended by each day of Landlord Delay or Tenant Delay, as the case may be. In the event of such termination, neither party shall have any further rights or obligations hereunder; provided, however, that if Landlord elects to so terminate, and Tenant has installed valuable tenant improvements, fixtures or equipment in the Premises, Landlord shall pay Tenant the market value of Tenant’s improvements (except to the extent previously paid for pursuant to the Allowance in Exhibit D) in “as is” condition, within 90 days after the date of termination. If the parties are unable to agree on such market value, the parties shall attempt in good faith to resolve the dispute. If the parties cannot agree on a resolution of the dispute then either party may submit the dispute to mediation and arbitration as provided in Section 7 of Exhibit D.
Mutual Right to Terminate. Either Landlord or Tenant may elect to terminate this Lease following damage by fire or other casualty if:
(a) in the reasonable judgment of Landlord, the Premises cannot be substantially repaired and restored under applicable Laws within three hundred sixty-five (365) days after the date of the casualty, provided, however, that the party electing to terminate shall give written notice to the other party within thirty (30) days after the date of casualty; or
(b) the fire or other casualty occurs during the last year of the Term unless prior to such fire or casualty, Tenant has timely exercised its renewal option for an additional five (5) year term. If any of the circumstances described in subparagraphs (a) or (b) of this Section 12.2 occur or arise, the party electing to terminate shall give written notice to the other party within thirty (30) days after the date of the casualty, specifying such party's election to terminate this Lease as provided above. If neither party gives such election notice within said thirty (30) day period, then Landlord shall within thirty (30) days thereafter, notify Tenant in writing of Landlord's estimate of the time required to complete Landlord's repair obligations under this Lease.
Mutual Right to Terminate. Either Party may terminate this Agreement upon written Notice to the other Party if the other Party materially breaches any material provision of this Agreement or any Accepted Insertion Order (other than its obligation to pay any amount when due) and either the breach cannot be cured or, if the breach can be cured, it is not cured by the other Party within 30 days of notice of breach to the breaching Party.
Mutual Right to Terminate. Either Party may terminate this Agreement upon written notice to the other Party:
(a) if the other Party materially breaches any material provision of this Agreement (other than Customer’s obligation to pay any amount when due, which is governed by 7.5) and either the breach cannot be cured or, if the breach can be cured, it is not cured by the other Party within thirty (30) days after its receipt of written Notice of such breach;
(b) if the other Party (i) becomes insolvent or is generally unable to pay its debts as they become due, (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law, (iii) makes or seeks to make a general assignment for the benefit of its creditors, or (iv) applies for or has appointed a receiver, trustee, custodian, or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business;
(c) in the event of a Force Majeure Event (defined below) that continues for more than sixty (60) days.
Mutual Right to Terminate. Subject to the provisions of Section 7.5.2, if the purchase and sale transaction contemplated by this Agreement has not occurred on or before the ninth (9) month anniversary of the date hereof, either Buyer or Seller, if such Party is not materially in default hereunder in a manner which has delayed the occurrence of the purchase and sale transaction contemplated by this Agreement, may terminate this Agreement upon five days’ written notice to the other Party
Mutual Right to Terminate. Either party may terminate this Agreement at any time prior to the Closing Date for any reason upon the delivery of written notice of termination to the other party.
Mutual Right to Terminate. Either Party may terminate this Agreement without liability to the other if (i) the Party’s performance hereunder would be illegal under applicable law or regulation or under any order or ruling issued by any federal, state or local agency having regulatory jurisdiction over the Streetlight Fixtures or the Attachments; (ii) the other Party fails to comply with any of the material provisions of this Agreement or defaults in any of its obligations under this Agreement and fails to correct such default or noncompliance within 30 days after receiving written notice from the non-breaching Party; or (iii) after 60 days of a Force Majeure event which has made performance impossible or economically impractical.
Mutual Right to Terminate. Notwithstanding anything contained herein to the contrary, either Seller or Buyer may terminate this Agreement, in their sole and absolute discretion, if the sum of all Defect Adjustments (less offsets for Title Increases), casualty losses, and anticipated remediation costs for Environmental Defects exceed ten percent (10%) of the Base Purchase Price. If, in such event, any of the selling parties or Buyer elects to terminate this Agreement, this Agreement shall terminate and be of no further force or effect.
Mutual Right to Terminate. Either Party may terminate this Agreement immediately upon written notice (or if there is a cure period, upon the lapse of the specified cure period), if:
(a) (i) the other Party commits a material breach of this Agreement and (ii) such breach is not cured (or if not curable the breaching Party fails to mitigate the adverse impacts of such breach on the non-breaching Party or its interests to the non-breaching Party’s reasonable satisfaction) within thirty (30) days following written notice of such breach from the non-breaching Party to the breaching Party (or such longer period if mutually agreed in writing); provided, however, that in the case of a failure by Licensee to timely pay any amounts due hereunder (together with interest accrued thereon from the date on which such payment was originally due until the amount thereof is paid at the interest rate set forth in Section 5.6 (Interest on Late Payments)), Licensee shall instead have a ten (10) business day cure period. Notwithstanding and without limiting any other provisions of this Agreement, any breach (other than de minimis breach) of obligation under Section 25 (Compliance: Anti-Bribery and Anti-Corruption Representations and Warranties) and Schedule 3 (Data Protection) shall be deemed material;
(b) the other Party is declared insolvent, makes an assignment for the benefit of its creditors, takes advantage of any insolvency law in its jurisdiction, liquidates its business, or ceases its usual operations for any reason, or if a receiver or trustee is appointed for its property; or
(c) the other Party commits a material breach of and such breach is not cured by the end of the applicable cure period specified in the Existing Agreements, if any, to the non-breaching Party’s reasonable satisfaction, with respect to the following obligations relating to departures through December 31, 2023 in the Existing Agreements: (i) Alliance and License Agreement, as amended: Section 14 (Terms of Payment), Section 15 (Reports and Records), Section 19 (Insurance Obligations), Section 20 (Compliance with Laws and Regulations), Section 21(b) (No Representation as to Revenue; Duty to Inform), Section 21(c) (▇▇▇▇▇▇▇▇’▇ Indemnification), Section 21(d) (NGS’ Indemnifications), Section 21(e) (Indemnification of Third-Party Claims), Section 21(f) (Limitation of Liability), Section 24(d) (Confidentiality), Section 24(h) (Governing Law), Section 24(i) (Dispute Resolution), Section 24(j) (Costs, Expenses, and Attorney’s Fees),...