Common use of Term and Termination Rights Clause in Contracts

Term and Termination Rights. This Agreement shall come into force as of the Effective Date and shall have a Minimum Term of twelve (12) months. On expiry of the Minimum Term, this Agreement may be terminated by either party by giving the other party thirty (30) days’ prior written notice of termination in the case of termination by the Registrant and six (6) months’ prior written notice of termination by the Company (each case being "Ordinary Termination"). In the event of Ordinary Termination, the Agreement shall remain legally binding on the parties until, but only in respect of, all rights and obligations already created or existing under the Agreement prior to the date of the Ordinary Termination are fully performed by both parties. Nevertheless, if a party fails to perform any of its obligations (other than when such obligation is released pursuant to the force majeure clause) under this Agreement, and such failure is not cured within five (5) business days of a written demand, the other party shall be entitled to immediately cease to perform its obligations. In the case that: a party fails to perform any of its obligations on a continued and repeated basis, or a party voluntary commences or is subject to the commencement of a composition or arrangement of any kind with its creditors (including, without limitation, voluntary winding-up), or a party commits any fraud or any other unlawful or criminal act in connection with this Agreement or its operation, the other Party (the "Terminating Party") may terminate the Agreement ("Early Termination") by giving notice to the defaulting party. A notice of Early Termination may be given by telephone if that notice is confirmed in writing within two (2) business days. In case of Early Termination, the Terminating Party shall have the right to be compensated for damages as provided for by English Law. Notwithstanding the preceding sentence, the parties understand and confirm that in case of the Company being the Terminating Party (a) it is reasonable to assume that, in the absence of the Early Termination, this Agreement would have persisted for at least six (6) months from the date of the Early Termination, and (b) consequently, that the reasonable pre-estimate of the Company´s loss in case of the Early Termination is the amount equal to six (6) monthly Fees and Charges (that have been payable by the Registrant under this Agreement during the six (6) month period preceding the Early Termination of this Agreement). Where the Company is acting in the capacity of Central Issuer, it may terminate the Agreement ("Threshold Termination") in respect of one or more Production Devices or Production Groups registered under this agreement by giving notice to the Registrant. A Threshold Termination notice will only be given when another Issuer is operational in the region where the specified Production Device(s) or Production Group(s) is/are located. A Threshold Termination notice will be given in writing and will be not less than four (4) month’s duration. The Registrant may terminate the Agreement by Ordinary Termination having been given notice of Threshold Termination. This provision shall survive termination of this Agreement.

Term and Termination Rights. 1Term : This EECS Certificates Master Agreement shall come into force as of the Effective Date and shall have a Minimum Term of twelve (12) monthsDate. On expiry of the Minimum Term, this Agreement It may be terminated in accordance with either § 92 (Expiration Date and 30 Day Termination Notice) or § 93 (Termination for Material Reason) through § 95 (Definition of Material Reason). 2Expiration Date and 30 Day Termination Notice : This EECS Certificates Master Agreement will terminate on the Expiration Date (if one is specified in the Election Sheet) or if no Expiration Date has been specified in the Election Sheet, by either party a Party by giving the other party Party thirty (30) days’ days prior written notice of termination (in the case of termination by the Registrant and six (6) months’ prior written notice of termination by the Company (each case being both cases "Ordinary Termination"). In the event of Ordinary Termination, the EECS Certificates Master Agreement shall remain legally binding on the parties Parties until, but only in respect of, all rights and obligations already created or existing under the Agreement prior to the date of the Ordinary Termination are fully performed or discharged by both partiesParties. Nevertheless, if 3Termination for Material Reason : (a) If a party fails Material Reason (as defined below) with respect to perform any of its obligations (other than when such obligation a Party has occurred and is released pursuant to the force majeure clause) under this Agreement, and such failure is not cured within five (5) business days of a written demand, the other party shall be entitled to immediately cease to perform its obligations. In the case that: a party fails to perform any of its obligations on a continued and repeated basis, or a party voluntary commences or is subject to the commencement of a composition or arrangement of any kind with its creditors (including, without limitation, voluntary winding-up), or a party commits any fraud or any other unlawful or criminal act in connection with this Agreement or its operationcontinuing, the other Party (the "Terminating Party") may terminate the Agreement ("Early Termination") by giving notice to the defaulting partyother Party notice. A notice of Early Termination may be given by telephone if that notice is confirmed in writing within two (2) business days. In case Business Days. (b) A notice of Early TerminationTermination shall specify the relevant Material Reason for the Early Termination and shall designate a day as an early termination date (the "Early Termination Date"). The Early Termination Date may not be earlier than the day the notice is deemed to have been received under the Agreement nor later than twenty (20) days after such day. With effect from the Early Termination Date all further payments and performance in respect of all Individual Contracts shall be released (and not merely suspended) and existing duties and obligations of the Parties shall be replaced by the obligation of one Party to pay damages for non-fulfilment to the other Party in an amount (if any) calculated in accordance with § 101 (Termination Amount) (the "Termination Amount"). (c) If notice designating an Early Termination Date is given, the Early Termination Date shall occur on the date so designated even if the applicable Material Reason is no longer continuing. On, or as soon as practicable after, the Early Termination Date, the Terminating Party shall have calculate in a commercially reasonable manner, and shall notify the right other Party of, the Termination Amount (if any) to be compensated for damages received or paid by it deriving from aggregating all Settlement Amounts as provided for by English Law. Notwithstanding the preceding sentence, the parties understand and confirm that stipulated in case § 10 (Calculation of the Company being the Terminating Party Termination Amount). (ad) it is reasonable to assume that, in the absence of the Early Termination, this Agreement would have persisted for at least six (6) months from the date of the Early Termination, and (b) consequently, that the reasonable pre-estimate of the Company´s loss in case of the Early The Termination is the amount equal to six (6) monthly Fees and Charges (that have been Amount shall be payable by the Registrant relevant Party to the other Party within three (3) Business Days of its notification by the Terminating Party. (e) The Terminating Party may take into account any Performance Assurance or credit support available pursuant to the Agreement or any Credit Support Document. (f) The right to designate an Early Termination Date under this Agreement during the six § 93 (6Termination for Material Reason) month period preceding the Early Termination of this Agreement). Where the Company is acting in the capacity of Central Issuer, it may terminate addition to any other remedies available under the Agreement ("Threshold or at law. 4Automatic Termination") in respect of one or more Production Devices or Production Groups registered under this agreement by giving notice to the Registrant. A Threshold Termination notice will only be given when another Issuer is operational in the region where the specified Production Device(s) or Production Group(s) is/are located. A Threshold Termination notice will be given in writing and will be not less than four (4) month’s duration. The Registrant may terminate the Agreement by Ordinary Termination having been given notice of Threshold Termination. This provision shall survive termination of this Agreement.

Term and Termination Rights. 14.1. This Agreement shall come into force as of the Effective Date and shall have a Minimum Term of twelve (12) months, unless the Local Issuer terminates its agreement with the I-REC Services, in which case the Registrant shall acknowledge and accept that this Agreement and Device registration will terminate upon notice to the Registrant. 14.2. On expiry of the Minimum Term, this Agreement may be terminated by either party by giving the other party thirty (30) days’ days prior written notice of termination in the case of termination by the Registrant and six (6) months’ prior written notice of termination by the Company (each case being "Ordinary Termination")termination. 14.3. In the event of Ordinary Termination, the Agreement shall remain legally binding on the parties until, but only in respect of, all rights and obligations already created or existing under the Agreement prior to the date of the Ordinary Termination are fully performed by both parties. NeverthelessNotwithstanding Clause 14.1, if a party fails to perform any of its obligations (other than when such obligation is released void pursuant to the force majeure clause) under this Agreement, and such failure is not cured within five ten (510) business days of a written demandnotice, such failure will be considered as a material breach and the other party shall be entitled to immediately cease to perform its obligations. 14.4. In the case that: : a) a party fails to perform any of its obligations on a continued and repeated basis, or or b) a party voluntary commences or is subject to the commencement of a composition or arrangement of any kind with its creditors (including, without limitation, voluntary winding-up), or or c) a party commits any fraud or any other unlawful or criminal act in connection with this Agreement or its operation, the other Party (the "Terminating Party") may terminate the Agreement ("Early Termination") by giving a written notice of Early Termination to the defaulting party. A notice of Early Termination may be given by telephone if that notice is confirmed in writing within two (2) business days. In case of Early Termination, the Terminating Party shall have the right to be compensated for damages as provided for by English the applicable Law. Notwithstanding the preceding sentence, the parties understand and confirm that in case of the Company Local Issuer being the Terminating Party Party (a) it is reasonable to assume that, in the absence of the Early Termination, this Agreement would have persisted for at least six (6) months from the date of the Early Termination, and and (b) consequently, that the reasonable pre-estimate of the Company´s local issuer´s loss in case of the Early Termination is the amount equal to six (6) monthly Fees and Charges (that have been payable by the Registrant under this Agreement during the six (6) month period preceding the Early Termination of this Agreement). 14.5. Where If the Company is acting in the capacity of Central IssuerRegistrant terminates this Agreement , it may terminate shall pay the Agreement ("Threshold Termination") in respect of one or more Production Devices or Production Groups registered under this agreement by giving notice Local Issuer all the amounts due to the Registrant. A Threshold Termination notice will only be given when another Issuer is operational termination date for the services provided (In whole or in part) until the region where the specified Production Device(s) or Production Group(s) is/are located. A Threshold Termination notice will be given in writing and will be not less than four (4) month’s duration. The Registrant may terminate the Agreement by Ordinary Termination having been given notice time of Threshold Termination. This provision shall survive termination of this Agreementtermination.