Common use of Termination and Consequences Clause in Contracts

Termination and Consequences. 9.1 Either party may terminate this agreement with immediate effect by giving notice in writing to the other party (the “defaulting party”) following:- 9.1.1 the occurrence of a material breach of this agreement by the defaulting party which is not remedied within 14 days of being required by written notice to do so; or 9.1.2 the insolvency or inability of the defaulting party to pay it’s debts within the meaning of section 123 of the Insolvency Xxx 0000, or similar event; or 9.1.3 the failure by the defaulting party to pay any sum due under this agreement within 14 days of such sum being due. 9.2 Either party may terminate this agreement on giving 3 months notice in writing to the other party.

Termination and Consequences. 9.1 Either party may terminate this agreement with immediate effect by giving notice in writing to the other party (the “defaulting party”) following:- 9.1.1 the occurrence of a material breach of this agreement by the defaulting party which is not remedied within 14 days of being required by written notice to do so; or 9.1.2 the insolvency or inability of the defaulting party to pay it’s debts within the meaning of section 123 of the Insolvency Xxx 0000Act 1986, or similar event; or 9.1.3 the failure by the defaulting party to pay any sum due under this agreement within 14 days of such sum being due. 9.2 Either party may terminate this agreement on giving 3 months notice in writing to the other party.