Rate Order Purchase or Termination Clause Samples
The "Rate Order Purchase or Termination" clause defines the procedures and rights related to the purchase or early termination of a contract based on changes in regulated rates or tariffs. Typically, this clause allows one or both parties to either buy out the contract or terminate it if a regulatory authority issues a rate order that significantly alters the financial assumptions underlying the agreement. For example, if a utility contract is affected by a government-mandated rate change, the affected party may invoke this clause to avoid unfavorable economic consequences. Its core function is to allocate risk and provide a clear mechanism for addressing regulatory changes that could undermine the contract's original intent or financial balance.
Rate Order Purchase or Termination. AFEX will provide Client with a summary of the material terms of each Rate Order. If the terms of the Rate Order are met during the Effective Period, AFEX may issue a Confirmation to Client. If the terms of the Rate Order are not met by the end of the Effective Period, the Rate Order will expire. Client agrees to promptly review each summary and Confirmation for accuracy and immediately notify AFEX of any error or discrepancy.
Rate Order Purchase or Termination. Corpay will provide Client with a summary of the material terms of each Rate Order. If the terms of the Rate Order are met during the Effective Period, Corpay will send Client a Confirmation. If the terms of the Rate Order are not met by the end of the Effective Period, the Rate Order will expire. Client agrees to promptly review each summary and Confirmation for accuracy and immediately notify Corpay of any error or discrepancy.
Rate Order Purchase or Termination. Cambridge will provide Client with a summary of the material terms of each Rate Order. If the terms of the Rate Order are met during the Effective Period, Cambridge may issue a Confirmation to Client. If the terms of the Rate Order are not met by the end of the Effective Period, the Rate Order will expire. Client agrees to promptly review each summary and Confirmation for accuracy and immediately notify Cambridge of any error or discrepancy.
Rate Order Purchase or Termination. AFEX Singapore will provide Client with a summary of the material terms of each Rate Order. If the terms of the Rate Order are met during the Effective Period, AFEX Singapore may send Client a Confirmation. If the terms of the Rate Order are not met by the end of the Effective Period, the Rate Order will expire. Client agrees to promptly review each summary and Confirmation for accuracy and immediately notify AFEX Singapore of any error or discrepancy.
Rate Order Purchase or Termination. Corpay Singapore will provide Client with a summary of the material terms of each Rate Order. If the terms of the Rate Order are met during the Effective Period, Corpay Singapore may send Client a Confirmation. If the terms of the Rate Order are not met by the end of the Effective Period, the Rate Order will expire. Client agrees to promptly review each summary and Confirmation for accuracy and immediately notify Corpay Singapore of any error or discrepancy.