TERMINATION BY BLOCK Sample Clauses
The 'Termination By Block' clause allows a party to end an agreement if a specific event or condition, referred to as a 'block,' occurs. In practice, this might apply if a regulatory authority imposes a restriction, a technical failure prevents performance, or a third party action makes continued fulfillment impossible. This clause provides a clear mechanism for parties to exit the contract when external circumstances fundamentally prevent the agreement from being carried out, thereby allocating risk and ensuring both sides have a defined path to termination in the face of uncontrollable obstacles.
TERMINATION BY BLOCK. Block may terminate the Agreement by Notice to Atrix as follows:
(a) at any time with or without cause upon 12 months prior Notice to Atrix;
(b) at any time, with or without cause, upon twelve (12) months' prior Notice to Atrix, its rights and obligations with regard to a specific Product in a specific country;
(c) if Atrix shall commit any willful and material breach of the provisions of this Agreement;
(d) if Atrix shall cease to manufacture or supply the Products to Block pursuant to this Agreement, except as may be provided for herein; __________________________________ * Confidential treatment has been requested.