Termination and its Consequences Clause Samples
The 'Termination and Its Consequences' clause defines the conditions under which a contract may be ended by either party and outlines the resulting obligations and procedures following termination. Typically, this clause specifies the grounds for termination, such as breach of contract or insolvency, and details the steps each party must take, such as returning confidential information or settling outstanding payments. Its core practical function is to provide a clear framework for ending the contractual relationship and managing the aftermath, thereby reducing uncertainty and potential disputes.
Termination and its Consequences. 8.1 The SSB acknowledges that if the IMC shall fail to enter into the IMC Service Agreement with the Government in accordance with Clause 7.1 above, the Government shall be entitled to terminate forthwith this Agreement.
8.2 This Agreement shall come to an end upon –
(a) the termination of the IMC Service Agreement; or
(b) the termination of the Tenancy Agreement between the SSB and the Government other than reason pursuant to Clause 6.3; or
(c) the termination of the Tenancy Agreement between the IMC and the Government as referred to in Clause 6.2; whichever occurs earlier.
8.3 The Government shall be entitled to terminate this Agreement forthwith if the SSB shall go into liquidation (other than a voluntary liquidation for the purpose of amalgamation or reconstruction) or if a receiver has been appointed over any of its assets.
8.4 The Government and the SSB may by mutual agreement terminate the SSB Service Agreement at any time.
8.5 On termination of this Agreement –
(a) all rights and obligations of the parties under this Agreement shall terminate except for such rights of actions as shall have accrued prior thereto and any obligations which expressly or by implication are intended to come into or continue in force on or after such expiration or termination; and
(b) the SSB shall, wherever possible, provide Government with information on all contracts made by the SSB so as to enable the Government to ensure smooth operation of the School; and
(c) the SSB shall facilitate the Government as far as practicable to prepare for taking over the operation of the School and/or allocating the School to a new operator, including but not limited to assigning or procuring the assignment to the Government and/or the new operator the rights of the SSB in all or any of the contracts relating to the operation of the School.
Termination and its Consequences. At any time the University may request a review of Your Activities. If the review is unsatisfactory or, if You do not co-operate in the review, the University may terminate this Agreement on giving You one week’s written notice.
Termination and its Consequences. At any time the University may, by written notice to You, request a review of the Activities, to be held within one week of the date of that notice or such later date as may be agreed. At the end of the review or, if You do not co-operate in the review, , the University may terminate this Agreement on giving You one week’s written notice. At any time the University may, by one month's written notice to You, terminate this Agreement where the University has an urgent need for the accommodation or facilities You are using as part of the Activities. The University may by written notice to You and Your Employer/Home Institution immediately terminate this Agreement in case of (1) serious misconduct and/or serious negligence and/or (2) where You or Your Employer/Home Institution has materially breached this Agreement and the breach is irremediable or (where the breach is remediable) You or Your Employer/Home Institution has failed to remedy that breach within thirty days of the date of service of a written notice specifying the breach and requiring that it be remedied and/or (3) where necessary for reasons of security or health and safety. All property and information, including confidential information, in whatever form, belonging to or in the trust of the University which may come into Your possession during the course of the Activities, must be surrendered by You to Your Supervisor or the Head of Department on termination or expiry of this Agreement, or upon request at any other time.
Termination and its Consequences. 6.1 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement forthwith if –
(a) the Tenancy Agreement is not entered into or is terminated or expires without renewal; or
(b) the Government resumes all or part of the School Premises for the improvement of Hong Kong or for any other public purpose; or
(c) the SSB enters into liquidation whether compulsory or voluntary, or the SSB is no longer incorporated in Hong Kong under the [Title of Ordinance] for any other reason; or
(d) the SSB and/or the School ceases to be exempt from tax by virtue of section 88 of the Inland Revenue Ordinance; or
(e) the Government reasonably believes that the School is not in operation; or
(f) the SSB commits any material breach of the provisions of this Agreement, whichever occurs earlier.
6.2 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement by giving three months’ notice if –
(a) the Government reasonably believes that the School could not commence operation on the date specified by the Government; or
(b) the SSB fails to produce a proposed school development plan to the satisfaction of and accepted by the Government within one year after the School has commenced operation or on such other date as mutually agreed between the Government and the SSB.
6.3 The SSB hereby agrees that the Government shall be entitled to terminate this Agreement by giving nine months’ notice if the Government reasonably believes that –
(a) the SSB fails to manage and operate the School in accordance with the Proposed School Plan and/or the School Development Plan; or
(b) the School fails to pursue or attain full accreditation status from any of the academic accreditation body(s) as stated in the Proposed School Plan and/or the School Development Plan before the expiry of this Agreement, or fails to renew the said full accreditation status by such time as may be specified by the Government; or
(c) the School fails to provide the minimum number of school places as specified in Condition 1 of Schedule One; or
(d) the student enrolment of the School fails to reach [ ]% of the minimum number of school places as approved by the Government within [ ] years after the School has commenced operation.
6.4 The Government and the SSB may by mutual agreement terminate this Agreement at any time.
6.5 On the expiration or termination of this Agreement –
(a) all rights and obligations of the parties under this Agreement shall terminate except for suc...
Termination and its Consequences. 18.3.1 Either Party has the right to mutually or unilaterally terminate / withdraw their participation in this Agreement, in whole or in part, for non - performance by the other Party, based on yearly detailed reviews, by giving the other Party 3 months written notice. In the event of such termination, all payments due to Upgrad shall be paid by the IMI up to the date of termination.
18.3.2 In the event either Party wishes to terminate the Agreement without reason, it shall communicate to the other Party its intention to terminate the Agreement by written notice of 3 months to the other effective from the date of service of such notice.
18.3.3 Either Party shall have the option to terminate the Agreement, in whole or in part, in case of material breach of any of the terms and conditions of this Agreement, which has not been cured within 30 days of notice, by any Party to this Agreement, by giving a written notice of 15 days and upon such termination, the Party causing the breach shall be liable to the other Party for the costs and consequences arising out of such breach.
18.3.4 However, no such termination as specified above shall effect:
Termination and its Consequences. The Agreement may be terminated by either Party in accordance with the following:
13.1. Upon material breach of this Agreement by either Party which is not cured within thirty (30) days of receipt of notification from the non-breaching Party, the non-breaching Party shall be free to terminate the Agreement forthwith;
13.2. Either Party may terminate the Agreement forthwith in writing if i. the other Party is adjudged bankrupt, or makes a general assignment for the benefit of its creditors, or
Termination and its Consequences. If either party applies for termination of this Contract, such party shall give a fifteen (15) days’ prior written notice to the other party. The above provisions are applicable to the following circumstances:
(1) The Parties reach a written agreement over termination of this Contract upon negotiation;
(2) If this Contract is unable to continue to be performed due to Force Majeure, either party may terminate this Contract.
(3) If either party loses its subject qualification, such as such party has its subject qualification canceled or enters into bankruptcy or liquidation proceedings, the other party shall have the right to terminate this Contract, provided, however that the provisions of the preceding paragraph are not applicable to reorganization, name change or division or merger with a third party;
(4) If either party fails to perform or breaches its obligations hereunder and ceases to perform such obligations or does not take remedial measures within such reasonable period as granted by the other party, which causes the other party to be unable to realize the anticipated profits in accordance with this Contract or that there is no need to continue to perform this Contract, the other party shall have the right to terminate this Contract.
(5) Other circumstances in which this Contract cannot be performed and has to be terminated.
Termination and its Consequences. 38 ----------- 10.1 Termination of Agreement................................................................... 38 10.2
Termination and its Consequences