Common use of Termination and Withdrawal Clause in Contracts

Termination and Withdrawal. 13.1 TfSHIOW recognises that the success of the partnership depends upon the mutual co-operation of all the Parties and the withdrawal of any Party may have serious administrative and financial repercussions for the remaining Parties and any Party withdrawing from TfSHIOW shall, unless otherwise unanimously agreed: a. give six months’ notice in writing of withdrawal to all other Parties; and b. the other Parties shall consider what future arrangements should apply for the discharge for their functions which may include to agreeing to continue joint arrangements further to a new joint agreement.

Termination and Withdrawal. 13.1 TfSHIOW recognises that the success of the partnership depends upon the mutual co-operation of all the Parties and the withdrawal of any Party may have serious administrative and financial repercussions for the remaining Parties and any Party withdrawing from TfSHIOW shall, unless otherwise unanimously agreed: a. give six months’ months notice in writing of withdrawal to all other Parties; and b. the other Parties shall consider what future arrangements should apply for the discharge for their functions which may include to agreeing to continue joint arrangements further to a new joint agreement.