Common use of Rescission of the Agreement Clause in Contracts

Rescission of the Agreement. 1. Menlo is entitled to rescind from the whole or a part of the Agreement or Order/Purchase Order, as the case may be, upon occurrence of extraordinary circumstances beyond Menlo’s control, including Force Majeure referred to in Section 12.1, mandatory changes of law or extraordinary adverse changes of the market conditions such as currency and goods price fluctuations or any adverse material reason attributable to the Purchaser, within 3 (three) months from its conclusion/placing, by submitting to the Purchaser a statement on rescission which shall include reasons for such rescission (contractual right of withdrawal).