Common use of No Material Reason Clause in Contracts

No Material Reason. The failure by a Party to transfer any amount which is the subject of a dispute to which this Clause 8 applies will not constitute a Material Reason for as long as the procedures set out in this Clause 8 are being carried out. For the avoidance of doubt, upon completion of those procedures, Clause 10 of this Annex will apply to any failure by a Party to make a required transfer on the relevant due date. Clause9