Common use of Termination/Expiration Clause in Contracts

Termination/Expiration. This Agreement shall remain in effect until the first of the following shall occur: a. A decision by either Party that it does not wish to participate in the Procurement or in any response to the Solicitation, in any manner, provided that such decision is communicated in writing to the other Party at least thirty (30) days prior to the due date of the initial proposal, offer or quote. In the event of the foregoing, the terminating Party shall be prohibited from responding to the Solicitation or participating in the Procurement, in any manner, either independently or in conjunction with any other Party. b. An official Government announcement that the Solicitation has been canceled, or the Procurement or Solicitation is materially or substantially revised and in the good faith opinion of either Party, the team is no longer competitive. c. Upon the award of a prime contract for the Solicitation to a contractor or contractors other than the Prime. d. Award of a prime contract to the Prime and a subcontract to the Subcontractor. e. The Prime is unable to obtain Government approval of the Subcontractor as a subcontractor to the Prime, and/or the terms of the subcontract between the Prime and the Subcontractor cannot reasonably be modified to secure the Government’s approval of the Subcontractor. f. Inability of the Prime and the Subcontractor, after negotiating in good faith for a reasonable period of time, to reach agreement on the terms and conditions of a subcontract. If such agreement has not been reached within sixty (60) days from the initiation of negotiations, it will be deemed that the Parties were unable to reach agreement. g. One year after the effective date of this Agreement, unless extended in writing by the Parties. h. Either Party becomes insolvent, is placed into receivership, becomes the subject of proceedings under the laws relating to bankruptcy, the relief of debtors or assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due. i. The suspension or debarment by the U.S. Government of the Prime or the Subcontractor.

Termination/Expiration. This Agreement shall remain in effect until the first of the following shall occur: a. A decision by either Party that it does not wish to participate in the Procurement or in any response to the Solicitation, in any manner, provided that such decision is communicated in writing to the other Party at least thirty (30) 30 days prior to the due date of the initial proposal, offer or quote. In the event of the foregoing, the terminating Party shall be prohibited from responding to the Solicitation or participating in the Procurement, in any manner, either independently or in conjunction with any other Party. b. An official Government announcement that the Solicitation has been canceled, or the Procurement or Solicitation is materially or substantially revised and in the good faith opinion of either Party, the team is no longer competitive. c. Upon the award of a prime contract for the Solicitation to a contractor or contractors other than the Prime. d. Award of a prime contract to the Prime and a subcontract to the Subcontractor.. Revised 10/2006 PROPRIETARY PAGE 2 OF 7 e. The Prime is unable to obtain Government approval of the Subcontractor as a subcontractor to the Prime, and/or the terms of the subcontract between the Prime and the Subcontractor cannot reasonably be modified to secure the Government’s approval of the Subcontractor. f. Inability of the Prime and the Subcontractor, after negotiating in good faith for a reasonable period of time, to reach agreement on the terms and conditions of a subcontract. If such agreement has not been reached within sixty (60) 60 days from the initiation of negotiations, it will be deemed that the Parties were unable to reach agreement. g. . One year after the effective date of this Agreement, unless extended in writing by the Parties. h. g. Either Party becomes insolvent, is placed into receivership, becomes the subject of proceedings under the laws relating to bankruptcy, the relief of debtors or assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due. i. h. The proposed suspension or debarment by the U.S. Government of the Prime or the Subcontractor.

Termination/Expiration. This Agreement shall remain in effect until the first of the following shall occur: a. A decision by either Party that it does not wish to participate in the Procurement or in any response to the Solicitation, in any manner, provided that such decision is communicated in writing to the other Party at least thirty (30) days prior to the due date of the initial proposal, offer or quote. In the event of the foregoing, the terminating Party shall be prohibited from responding to the Solicitation or participating in the Procurement, in any manner, either independently or in conjunction with any other Party. b. An official Government announcement that the Solicitation has been canceled, or the Procurement or Solicitation is materially or substantially revised and in the good faith opinion of either Party, the team is no longer competitive. c. Upon the award of a prime contract for the Solicitation to a contractor or contractors other than the Prime. d. Award of a prime contract to the Prime and a subcontract to the Subcontractor. e. The Prime is unable to obtain Government approval of the Subcontractor as a subcontractor to the Prime, and/or the terms of the subcontract between the Prime and the Subcontractor cannot reasonably be modified to secure the Government’s approval of the Subcontractor.. MARINE SOLUTIONS INC. TEAMING AGREEMENT Page 2 of 6 f. Inability of the Prime and the Subcontractor, after negotiating in good faith for a reasonable period of time, to reach agreement on the terms and conditions of a subcontract. If such agreement has not been reached within sixty (60) days from the initiation of negotiations, it will be deemed that the Parties were unable to reach agreement. g. One year after the effective date of this Agreement, unless extended in writing by the Parties. h. Either Party becomes insolvent, is placed into receivership, becomes the subject of proceedings under the laws relating to bankruptcy, the relief of debtors or assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due. i. The suspension or debarment by the U.S. Government of the Prime or the Subcontractor.

Termination/Expiration. This Agreement shall remain in effect until the first of the following shall occur: a. A decision by either Party that it does not wish to participate in the Procurement or in any response to the Solicitation, in any manner, provided that such decision is communicated in writing to the other Party at least thirty (30) 30 days prior to the due date of the initial proposal, offer or quote. In the event of the foregoing, the terminating Party shall be prohibited from responding to the Solicitation or participating in the Procurement, in any manner, either independently or in conjunction with any other Party. b. An official Government announcement that the Solicitation has been canceled, or the Procurement or Solicitation is materially or substantially revised and in the good faith opinion of either Party, the team is no longer competitive. c. Upon the award of a prime contract for the Solicitation to a contractor or contractors other than the Prime. d. Award of a prime contract to the Prime and a subcontract to the Subcontractor.. Revised 8/02 PROPRIETARY - Downloaded from xxxx://xxxxxx.xxxx.xxx/forms/ Page 3 of 7 e. The Prime is unable to obtain Government approval of the Subcontractor as a subcontractor to the Prime, and/or the terms of the subcontract between the Prime and the Subcontractor cannot reasonably be modified to secure the Government’s approval of the Subcontractor. f. Inability of the Prime and the Subcontractor, after negotiating in good faith for a reasonable period of time, to reach agreement on the terms and conditions of a subcontract. If such agreement has not been reached within sixty (60) 60 days from the initiation of negotiations, it will be deemed that the Parties were unable to reach agreement. g. One year after the effective date of this Agreement, unless extended in writing by the Parties. h. Either Party becomes insolvent, is placed into receivership, becomes the subject of proceedings under the laws relating to bankruptcy, the relief of debtors or assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due. i. The suspension or debarment by the U.S. Government of the Prime or the Subcontractor.

Termination/Expiration. This Agreement shall remain in effect until the first of the following shall occur: a. A decision by After the release of the Solicitation or any amendments thereto, if the contents thereof are so unfavorable to either Party that it does not wish to participate participation in the Procurement Solicitation(s) is no longer practical or financially viable; in any response to such case, the Solicitation, in any manner, provided that such decision is communicated in writing terminating Party shall provide written notice of termination to the other Party at least thirty within the earlier of 10 days of receipt of the Solicitation (30or amendment) or 20 days prior to the due date of set by the initial proposal, offer or quoteGovernment for Proposal submissions. In the event of the foregoing, the terminating Party shall be prohibited from responding to the Solicitation or participating in the ProcurementSolicitation, in any manner, either independently or in conjunction with any other Party unless the terminating Party is released from this article in writing by the other Party. b. An official Government announcement that the Solicitation has been canceled, or the Procurement or Solicitation is materially or substantially revised and in the good faith opinion of either Party, the team is no longer competitive. c. Upon the award of a prime contract Task Order for the Solicitation to a contractor or contractors other than the PrimePrime and after a final non-appealable bid protest decision or the passage of time for submitting a bid protest. d. Award of a prime contract Task Order to the Prime and a subcontract Subcontract to the Subcontractor. e. The Prime is unable to obtain Government approval of the Subcontractor as a subcontractor to the Prime, if required, and/or the terms of the subcontract between the Prime and the Subcontractor cannot reasonably be modified to secure the Government’s approval of the Subcontractor. f. Inability of the Prime and the Subcontractor, after negotiating in good faith for a reasonable period of time, Subcontractor to reach agreement on the terms and conditions of a subcontract. If such agreement has not been reached Subcontract within sixty (60) days from the initiation of negotiations, it will be deemed that the Parties were unable to reach agreementtime period as stated within Article 8. g. One year Two years after the effective date of this Agreement, unless extended in writing by the Parties, and/or unless the Solicitation is still viable and no final award has been made, or any mutually agreed upon extensions. h. Either Party becomes insolvent, is placed into receivership, becomes the subject of proceedings under the laws relating to bankruptcy, the relief of debtors or assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due. i. The proposed suspension or debarment by the U.S. Government of either Party. i. Mutual written agreement by the Prime Parties. 17.1 In addition to the above events of termination, each Party shall have the unilateral right to terminate this Agreement should the other Party default on any of its material obligations hereunder. A Party shall be in default of this Agreement in the event that it: (a) becomes generally unable, or admits in writing its inability, to pay its debts as such debts become due; (b) applies for or consents to the appointment of, or the Subcontractortaking of possession by, a receiver, custodian, trustee, examiner, liquidator, or assignee under any applicable law or agreement of itself or all or a substantial part of its property; (c) commences a voluntary bankruptcy case under Xxxxx 00, Xxxxxx Xxxxxx Code; or (d) files a petition to take advantage as a debtor under any other law relating to bankruptcy, insolvency, reorganization, liquidation, dissolution, arrangement, winding-up, or composition or adjustment of debts; (e) is subject to an order for relief in an involuntary bankruptcy case under Title 11, United States Code, or acquiesces to bankruptcy relief under any other applicable insolvency code of any jurisdiction; (f) becomes subject to a proceeding or case before any court or tribunal, other than under Title 11, United State Code, seeking reorganization, liquidation, dissolution, arrangement, winding-up, or the composition or readjustment of its debts, the appointment of a receiver, custodian, trustee, examiner, liquidator, assignee, or the like, or similar relief in respect of such defaulting Party under any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts, and such proceeding or case continues undismissed, or an order, judgment, or decree approving or ordering any of the foregoing shall be entered and continue unstayed and in effect for a period of twenty-one (21) or more days; (g) makes an assignment or attempted assignment for the benefit of one, some, or all of its creditors; (h) takes any steps toward cessation of its business, or a substantial portion thereof, or cessation of its corporate existence; (i) takes any corporate action in furtherance of any of the foregoing; (j) becomes a judgment debtor with regard to any final judgment equal to or in excess of $1,000,000.00 that remains undischarged and unsatisfied for more than twenty-one (21) days; (k) has any governmental authority or other third party seize, expropriate or confiscate all or a substantial part of its property or assets; or (l) has materially breached any other of its obligations under this Agreement and shall not have remedied such breach within ten (10) days after having been requested to do so by the non-defaulting Party. 17.2 This Article shall not affect any rights or obligations explicitly identified herein as surviving the expiration or termination of this Agreement.