RIGHT OF TERMINATION BY ACT OF GOD OR FORCE MAJEURE Sample Clauses

RIGHT OF TERMINATION BY ACT OF GOD OR FORCE MAJEURE. When by an Act of God or Force Majeure, except as provided in Clause 27.3 and 27.5, continuation of the works becomes impossible for a period that delays the Scheduled Date of Completion of the Project by more than 180 consecutive Days or 270 cumulative Days, the Contractor may choose not to execute them. In this instance, if the option is for early termination of the Contract, it shall so request the Commission, which will determine as applicable within the fifteen Days following presentation of the respective document, which determination it may not refuse without just cause, but if the Commission does not answer within said term, the Contractor's request shall be deemed as accepted. In case of refusal, it shall be necessary for the Contractor to obtain the respective declaration according to the procedure provided in Clause 31.3. In the event that the present Contract is terminated according to this Clause 27.4, the Commission shall pay to the Contractor the applicable Termination Value. ACT OF GOD OR OF FORCE MAJEURE BECAUSE OF VARIATIONS IN FINANCIAL COSTS. Notwithstanding the express provisions of this Contract, if during fifteen (15) consecutive days within the last thirty (30) days of the term between the date when the Bid was presented and day 18 after such date, the Current Margin is above or below the Original Margin by more than 150 basic points, both Contractor and Commission will be entitled to argue that an act of God or of force majeure has occurred, and the corresponding notice must be issued to the other Party within the first seven (7) days after such event occurs, and consequently, the Contract may be terminated free of any responsibility whatsoever for the Parties and without the periods referred to in clause 27.4 having to pass. The Party requesting termination of the Contract according to this Clause 27.5 must present to the other party the documents grounds of the request for termination within the first fifteen (15) days after the request for termination is received, in order that within the first fifteen (15) days after such date the latter may manifest its written acceptance or rejection; if an answer is not received within aforementioned term, the request will be considered accepted 168
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Related to RIGHT OF TERMINATION BY ACT OF GOD OR FORCE MAJEURE

  • Termination by Either Party This Agreement may be terminated upon 60 days written notice without cause or penalty by either the Company (acting through the Conflicts Committee) or the Advisor. The provisions of Articles 1, 10, 12, 13, 15 and 16 shall survive termination of this Agreement.

  • Termination by Any Party This Advisory Agreement may be terminated upon 60 days’ written notice without cause or penalty, by any party (by a majority of the Independent Directors of the Company or the manager of the Advisor).

  • Termination by Licensee 10.1. Licensee will have the right at any time to terminate this Agreement in whole or as to any portion of Patent Rights or Property Rights by giving notice in writing to The Regents. Such Notice of Termination will be subject to Article 20. (Notices) and termination of this Agreement in whole or with respect to any portion of the Patent Rights or Property Rights will be effective 60 days after the effective date thereof.

  • Termination by Licensor Licensor, at its option, may immediately terminate the Agreement, or any part of Licensed Subject Matter, or any part of Field of Use, or any part of Territory, or the exclusive nature of the license grant, upon delivery of written notice to Licensee of Licensor’s decision to terminate, if any of the following occur:

  • Termination by Employee without Good Reason The Employee shall have the right at any time to terminate the Employee's employment with both Employers without Good Reason by giving the Employers written notice that the Employee is terminating his employment. Any such termination shall apply to the Employee's employment with both Employers and be effective ninety (90) days after the giving of such notice by the Employee.

  • Termination by the Company for Cause; Termination by the Executive without Good Reason (a) For purposes of this Agreement, “

  • Termination by the Executive Without Good Reason The Executive may terminate his employment on his own initiative for any reason upon 30 days’ prior written notice to the Company; provided, however, that during such notice period, the Executive shall reasonably cooperate with the Company (at no cost to the Executive) in minimizing the effects of such termination on the Company Group. Such termination shall have the same consequences as a termination for Cause under Section 6.2.

  • Termination by Operation of Law This Agreement may be terminated by any Party hereto if there shall be any statute, rule or regulation that renders consummation of the transactions contemplated by this Agreement (the “Contemplated Transactions) illegal or otherwise prohibited, or a court of competent jurisdiction or any government (or governmental authority) shall have issued an order, decree or ruling, or has taken any other action restraining, enjoining or otherwise prohibiting the consummation of such transactions and such order, decree, ruling or other action shall have become final and nonappealable.

  • Termination by Employee with Good Reason Employee may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth with reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Employee’s termination will be effective upon the date immediately following the expiration of the thirty (30) day notice period, and Employee shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Employee’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following such termination of Employee’s employment by Employee with Good Reason, except as set forth in this Section 8(e), Employee shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by Tenant In the event that the destruction to the Premises cannot be restored as required herein under applicable laws and regulations within two hundred seventy (270) days of the damage or casualty, notwithstanding the availability of insurance proceeds, Tenant shall have the right to terminate this Lease by giving the Landlord notice thereof within thirty (30) days of date of the occurrence of such casualty specifying the date of termination which shall not be less than thirty (30) days nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent, reduced by any proportionate reduction in Rent as provided for in Section 18.1 above, shall be paid to the date of such termination.

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