Common use of Termination by the Client Clause in Contracts

Termination by the Client.  Hyundai KONA Electric: There shall be a lock-in-period for this agreement which shall be 48 months from the date of delivery of the entire set of E-Cars/E-Vehicles to the CLIENT. In case the CLIENT decides to terminate the agreement before the end of the lock-in-period, the CLIENT shall serve a notice period of 60 days to ANERT and the CLIENT has to pay without any demur the termination payment for the lock- in-period, which shall be the lease rental (as set out in Annexure 5 for Hyundai KONA Electric) for the entire lock in period, less 8% per annum.  In case of termination before the lock-in-period, the CLIENT shall be bound to pay all the remaining lease payments.  In case of termination after the lock-in-period, the client shall be entitled to terminate this agreement only if ANERT is under default and has not cured the default even after the expiry of the cure period or if agreed to by both the parties.

Termination by the Client.  Hyundai KONA Electric: There shall be a lock-in-period for this agreement which shall be 48 months from the date of delivery of the entire set of E-Cars/E-Vehicles to the CLIENT. In case the CLIENT decides to terminate the agreement before the end of the lock-in-period, the CLIENT shall serve a notice period of 60 days to ANERT and the CLIENT has to pay without any demur the termination payment for the lock- in-period, which shall be the lease rental (as set out in Annexure 5 for Hyundai KONA Electric) for the entire lock in period, less 8% per annum.  • In case of termination before the lock-in-period, the CLIENT shall be bound to pay all the remaining lease payments.  • In case of termination after the lock-in-period, the client shall be entitled to terminate this agreement only if ANERT is under default and has not cured the default even after the expiry of the cure period or if agreed to by both the parties.