Termination and Rescission of the Agreement Sample Clauses

Termination and Rescission of the Agreement. 21.1. The term of this Agreement shall commence on March 9, 2015, and shall terminate on March 8, 2017 (the “Term of the Agreement”). 21.2. This Agreement shall automatically renew for consecutive periods of one year (the first of which shall commence on March 9, 2017), in the event that neither Party sends a registered letter of termination 180 days prior to the end of the Term of the Agreement, or the end of each relevant year of the Agreement. 21.3. At any time, the Customer and the Supplier shall have the right to rescind the Agreement in full, or any part thereof, by the giving of notice in writing within one year (365 days) in advance by registered mail or by electronic mail, which shall be backed up, within 10 days, by a registered letter. Upon receipt of the notice of rescission, the Supplier shall not accrue any additional expenses with respect to the performance of the Agreement or performance of the rescinded portion of the Agreement, however, it shall be entitled to continue to incur expenses in order to comply with all of its undertakings under the Agreement, including all of the Supplier's undertakings as such existed on the date of receipt of the notice of rescission. Under the above circumstances, the Supplier shall take any reasonable action required to stop production on its part and shall use its best effort to stop production by any sub-contractor, all to the extent that the above shall not serve to cause the Supplier any damage and/or out-of-pocket expense. The Customer shall have no obligation to make any payment any quantities of the Products and/or Items manufactured over and above open Orders that may come to an end after 365 days after the date of receipt of the notice of rescission written by the Customer. On the date of termination of the Agreement, and against conclusion of the settlement of accounts between the Parties and payment of all of the sums owing to the Supplier under the provisions of this Agreement, the Supplier shall be required to provide the Customer with the inventory of all of the Products for which the Customer has paid in accordance with the provisions of this section, unless the Parties have agreed otherwise in writing. 21.4. The Parties may terminate the Agreement immediately in any event in which attachment, receivership, liquidation or bankruptcy proceedings are instituted and are not cancelled within 60 days of the date of being instituted, or in the event that the business of one of the Parties ceases t...
Sample 1Sample 2
AutoNDA by SimpleDocs
Termination and Rescission of the Agreement. 9.1 Unless extended in accordance with the Agreement, the Agreement shall be terminated on its expiration date. 9.2 During the effective period of the Agreement, Party B shall not terminate the Agreement in advance. Nevertheless, Party A may terminate the Agreement at any time by issuing a written notice to Party B 30 days in advance. 9.3 Within the effective period of the Agreement, if either party submits any form of bankruptcy application, or is filed a bankruptcy application by any third party, or enters bankruptcy liquidation proceedings, or is prohibited from doing business by competent government authorities, or loses its legal personality or other legal entity qualification for other reasons, then the other party shall have the right to, in the form of written notice (“notice of rescission”), rescind the Agreement. The Agreement shall be automatically rescinded from the date of the arrival of the notice of rescission. 9.4 The termination and rescission of the Agreement shall not affect the right of both parties to claim compensation. If any party suffers losses as a result of termination or rescission of the Agreement, the party causing such losses shall be liable for compensation, except that it may be exempted from liability according to law and as agreed in the Agreement.
Sample 1Sample 2
Termination and Rescission of the Agreement. 15.1 If a Party is in any of the following circumstances, the Parties shall terminate the Agreement in writing without any liability therefor: (1) insolvency or bankruptcy liquidation, or any other similar event as required by law; and (2) any change in ownership, or disposition of all or any of its significant business or assets (other than legal organizational adjustments) that materially affects the Party’s ability to perform the Agreement. 15.2 The Agreement may be terminated upon consensus of the Parties. 15.3 If a Party delays the performance of the Agreement and fails to perform within [30] days after being urged by the non-defaulting party, the non-defaulting party may unilaterally terminate the Agreement. 15.4 Except for the aforementioned circumstances, the Agreement shall not be terminated or rescinded early for any other reason. If any other circumstances other than the aforementioned circumstances occur, the Parties shall negotiate amiably and in good faith, in a timely manner, based on the long-term cooperation, mutual benefit and win-win principles. 15.5 Upon termination of the Agreement, Geely shall immediately return or destroy all retained Lotus documents and other materials, including but not limited to storage media and computer files containing Lotus confidential information. Meanwhile, Lotus shall pay the payable and unpaid fees and expenses in accordance with the provisions of Article 7 of the Agreement, and Geely shall deliver all the produced vehicles, parts and raw materials as soon as possible. Geely shall be responsible for safekeeping of the vehicles and all deliverables before delivery thereof.
Sample 1Sample 2
Termination and Rescission of the Agreement. 13.1. This Agreement may be terminated in accordance with the procedure stipulated by the current legislation of the RK on the following grounds: 1) by agreement of the Parties; 2) due to the expiration of the Agreement; 3) on the Employer’s initiative; 4) in connection with the Employee’s transfer to another employer; 5) at the initiative of the Employee; 6) in the event of circumstances beyond the control of the Parties; 7) in case of the Employee’s refusal to continue the employment relationship; 8) in case of the Employee’s transition to an elective job (position) or appointment to a position that excludes the possibility of continuing labor relations, except as provided for by the legislation of the RK; 9) in case of breach of the terms and conditions of conclusion of the Agreement. 13.2. A Party to the Agreement, which has expressed a desire to terminate the Agreement by agreement of the Parties, shall send a written notice to the other Party to the Agreement. The Party receiving such notice shall be obliged to inform the other Party in writing of the decision made within 3 (three) working days. The date of termination of the Agreement by agreement of the Parties shall be determined by agreement between the Employee and the Employer. The Agreement may be terminated by the Employer without complying with the requirements of this subparagraph with a compensation payment in the amount of one average salary. 13.3. This Agreement may be unilaterally terminated at the initiative of the Employer on the following grounds: 1) liquidation of the Employer; 2) reduction in the number or staff of employees; 3) decrease in the volume of production, work performed and services rendered, resulting in deterioration of the Employer’s economic condition; 4) inconsistency of the Employee with the position held or work performed due to insufficient qualification confirmed by the results of attestation; 5) incompatibility of the Employee with the position held or work performed due to a health condition that prevents the Employee from continuing this work;
Sample 1
Termination and Rescission of the Agreement. 13.1 This Agreement shall be terminated naturally in the following circumstances, i.e. the Parties have signed a new agreement to replace this Agreement; 13.2 Except as otherwise agreed in this Agreement, if either party terminates this Agreement in advance within the validity period of this Agreement, it shall notify the other party in writing 15 days in advance, and upon consent of the other party, both parties may sign a written supplementary agreement to terminate this Agreement. 13.3 If Party B has the following circumstances, Party A may unilaterally terminate this Agreement: 1) Party A’s website fails to achieve expected sales volume; 2) Party B violates the relevant obligations stipulated in this Agreement or the rules of WXX000.xxx Website and refuses to correct it after Party A’s notification; or 3) Other circumstances stipulated herein in which Party A may unilaterally terminate this Agreement. 13.4 Processing of Subsequent Matters after Termination hereof 13.4.1 After the termination of the cooperation between both parties, from the date of such termination, Party A will cancel Party B’s account authority of “username of WXX000.xxx Website” and remove all relevant products of Party B from the website. Party B will no longer be able to conduct any operation through the account and the front-end of the website will no longer display any product information provided by Party B to Party A. 13.4.2 After the termination of this Agreement, Party A has the right to retain the registration information and transaction record of Party B, but Party A has no obligation to do so, nor to transmit any unread or unsent information to Party B or a third party after the termination of this Agreement, nor to assume responsibility for the termination of this Agreement to Party B or any third party, except as otherwise provided by law. 13.4.3 Within thirty days from the date of cooperation termination, both parties shall carry out exit liquidation, including but not limited to financial reconciliation and handling of goods in transit. Goods in transit refer to goods purchased by customers yet not delivered before the termination of the cooperation between both parties. For such goods, Party B shall still deliver the goods and settle the payments in accordance with the process as before the cooperation termination. 13.4.4 The termination of the cooperation between both parties shall not exempt Party B from the responsibility of after-sales service and product guarant...
Sample 1

Related to Termination and Rescission of the Agreement

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Repudiation and rescission of agreements A Transaction Obligor (or any other relevant party) rescinds or purports to rescind or repudiates or purports to repudiate a Transaction Document or any of the Transaction Security or evidences an intention to rescind or repudiate a Transaction Document or any Transaction Security.

  • Duration and Termination of the Agreement This Agreement shall become effective upon its execution; provided, however, that this Agreement shall not become effective with respect to any Portfolio now existing or hereafter created unless it has first been approved (a) by a vote of the Independent Trustees, cast in person at a meeting called for the purpose of voting on such approval, and (b) if required under the 1940 Act, by an affirmative vote of a majority of the outstanding voting shares of that Portfolio. This Agreement shall remain in full force and effect continuously thereafter without the payment of any penalty as follows: (a) By vote of a majority of the (i) Independent Trustees, or (ii) outstanding voting shares of the applicable Portfolios, the Trust may at any time terminate this Agreement with respect to any or all Portfolios by providing not more than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager and the Subadviser. (b) This Agreement will terminate automatically with respect to a Portfolio unless, within two years after its initial effectiveness with respect to such Portfolio and at least annually thereafter, the continuance of the Agreement is specifically approved by (i) the Board of Trustees or the shareholders of such Portfolio by the affirmative vote of a majority of the outstanding shares of such Portfolio, and (ii) a majority of the Independent Trustees, by vote cast in person at a meeting called for the purpose of voting on such approval. If the continuance of this Agreement is submitted to the shareholders of any Portfolio for their approval and such shareholders fail to approve such continuance as provided herein, the Subadviser may continue to serve hereunder in a manner consistent with the 1940 Act and the rules and regulations thereunder. (c) The Manager may at any time terminate this Agreement with respect to any or all Portfolios by not less than 60 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Subadviser, and the Subadviser may at any time terminate this Agreement with respect to any or all Portfolios by not less than 90 days’ written notice delivered or mailed by registered mail, postage prepaid, to the Manager. (d) This Agreement automatically and immediately will terminate in the event of its assignment. Upon termination of this Agreement with respect to any Portfolio, the duties of the Manager delegated to the Subadviser under this Agreement with respect to such Portfolio automatically shall revert to the Manager.

  • Term and Termination of the Agreement 9.1. The Agreement shall enter into force upon its signing by the Parties and shall remain in full force and effect until the Parties have fully and properly fulfilled their obligations (including, unequivocally in the case the term of any other agreement associated with the Agreement exceeds the term of the Agreement). 9.2. In the cases and under the conditions stipulated by the Agreement and/or Legislation, it is possible to terminate the Agreement before expiration of its term in whole or in part:

  • Execution of the Agreement The Company, the party executing this Agreement on behalf of the Company, and the Consultant, have the requisite corporate power and authority to enter into and carry out the terms and conditions of this Agreement, as well as all transactions contemplated hereunder. All corporate proceedings have been taken and all corporate authorizations and approvals have been secured which are necessary to authorize the execution, delivery and performance by the Company and the Consultant of this Agreement. This Agreement has been duly and validly executed and delivered by the Company and the Consultant and constitutes a valid and binding obligation, enforceable in accordance with the respective terms herein. Upon delivery of this Agreement, this Agreement, and the other agreements and exhibits referred to herein, will constitute the valid and binding obligations of Company, and will be enforceable in accordance with their respective terms. Delivery may take place via facsimile transmission.

  • Modification of the Agreement Notwithstanding any of the provisions of this Agreement, the parties may agree to amend this Agreement. No alteration or variation of the terms of this Agreement shall be valid unless made in writing and signed by the parties hereto. No oral understanding or agreement not incorporated herein shall be binding on any of the parties hereto.

  • Duration of the Agreement This Agreement shall come into effect on the day and year stated in Box 4 and shall continue until the date stated in Box 17. Thereafter it shall continue until terminated by either party giving to the other notice in writing, in which event the Agreement shall terminate upon the expiration of a period of two months from the date upon which such notice was given.

  • Operation of the Agreement The Parties recognize that it is impractical in this Agreement to provide for every contingency which may arise during the life of the Agreement, and the Parties hereby agree that it is their intention that this Agreement shall operate fairly as between them, and without detriment to the interest of either of them, and that, if during the term of this Agreement either Party believes that this Agreement is operating unfairly, the Parties will use their best efforts to agree on such action as may be necessary to remove the cause or causes of such unfairness, but failure to agree on any action pursuant to this Clause 8.2 shall not give rise to a dispute subject to arbitration in accordance with Clause 9 hereof.

  • Rescission and Early Termination of Contract The Illinois Commerce Commission is considering rescission and early termination of contract regulations that may afford you opportunities within certain parameters to rescind or terminate your contract without incurring an early termination fee. In addition, your DSP’s tariff (which is on file with the Illinois Commerce Commission) may contain provisions regarding penalty-free rescission periods. Homefield Energy will comply with all applicable provisions and regulations concerning rescission and early termination of contract. Shortly after your election to take service from Homefield Energy, your DSP should provide you an enrollment notice informing you of any rescission rights you may have and the last day for making a request to rescind. If you rescind this Agreement within the timeframe specified by your DSP, your enrollment with Homefield Energy will be cancelled without penalty to you. Upon rescission in accordance with applicable law, this Agreement will be considered cancelled and neither party shall have any further obligation hereunder to each other. If you do not rescind this Agreement, you still may terminate the Agreement without any termination fee or penalty within 10 business days after the date of the first bill issued to you under this Agreement by calling Homefield Energy toll-free at 000-000-0000 to let Homefield Energy know to terminate this Agreement. You may terminate a residential electric supply agreement in this manner only one time in any 12 month period. Upon termination, you will remain responsible for all obligations, including payment for Retail Power and related costs and charges, incurred under this Agreement prior to the effective date of termination, including any applicable termination fee.

  • Ratification of the Agreement As amended by this Amendment, the Agreement is in all respects ratified and confirmed, and the Agreement, as so amended by this Amendment, shall be read, taken and construed as one and the same instrument.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!