Prolonged Suspension. If the performance of Seller’s obligations under the Agreement or any portion thereof is suspended pursuant to Clause 29.3 for more than [***] in the aggregate during the term of the Agreement, then Seller may serve notice in writing to Buyer requesting permission to proceed with the Agreement or the portion in regard to which progress is suspended. If such permission to proceed is not granted by Xxxxx within [***] of Buyer’s receipt of such notice, either Party may, by a further prior written notice to the other Party, elect to terminate the Agreement. Seller shall transfer or assign to Buyer, title in the part of the Liquefaction Train System for which payment has been received in full as of the date of any termination of the Agreement. This Clause 29.5 shall not apply if the suspension was (i) necessary by reason of some material default on the part of Seller or (ii) due to a Force Majeure Event.
Appears in 4 contracts
Samples: Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.)
Prolonged Suspension. If the performance of Seller’s obligations under the Agreement or any portion thereof is suspended pursuant to Clause 29.3 for more than and if notice to resume execution is not given by Buyer within [***] in the aggregate during the term of the Agreement], then Seller may serve notice in writing to Buyer requesting permission to proceed with the Agreement or the portion in regard to which progress is suspended. If such permission to proceed is not granted by Xxxxx within [***] of Buyer’s receipt of such notice, either Party may, by a further prior written notice to the other Party, elect to terminate the Agreement. Seller shall transfer or assign to Buyer, title in the part of the Liquefaction Train System for which payment has been received in full as of the date of any termination of the Agreement. This Clause 29.5 shall not apply if the suspension was (i) necessary by reason of some material default on the part of Seller or (ii) due to a Force Majeure Event.
Appears in 3 contracts
Samples: Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.)
Prolonged Suspension. If the performance of Seller’s obligations under the Agreement or any portion thereof is suspended pursuant to Clause 29.3 for more than and if notice to resume execution is not given by Buyer within [***] in the aggregate during the term of the Agreement, then Seller may serve notice in writing to Buyer requesting permission to proceed with the Agreement or the portion in regard to which progress is suspended. If such permission to proceed is not granted by Xxxxx within [***] of Buyer’s receipt of such notice, either Party may, by a further prior written notice to the other Party, elect to terminate the Agreement. Seller shall transfer or assign to Buyer, title in the part of the Liquefaction Train System for which payment has been received in full as of the date of any termination of the Agreement. This Clause 29.5 shall not apply if the suspension was (i) necessary by reason of some material default on the part of Seller or (ii) due to a Force Majeure Event.
Appears in 3 contracts
Samples: Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.), Purchase Order Contract (Venture Global, Inc.)
