Termination for Regulatory Reasons Clause Samples
The 'Termination for Regulatory Reasons' clause allows either party to end the agreement if continuing would violate laws or regulations, or if a regulatory authority requires termination. In practice, this clause typically applies when new laws are enacted, existing regulations change, or a government agency issues an order that makes the contract's performance illegal or impossible. Its core function is to protect both parties from legal or regulatory consequences by providing a clear exit mechanism if compliance becomes impossible or unlawful.
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Termination for Regulatory Reasons. 6.6.1 Each Party shall have a right to terminate this TSA if directed in writing by a Competent Authority. A Party may exercise such right upon 90 days’ prior notice, or such shorter timeframe as required by a Competent Authority or to comply with Regulation.
6.6.2 In the event of a termination of this TSA pursuant to this Section 6.6, the Parties acknowledge and agree that Migration of the Services may not be fully implemented as of such termination and, to the extent required by a Competent Authority, neither Party will have any obligation to assist in the Migration of the Services after such termination.
Termination for Regulatory Reasons. If Kolltan reasonably determines that it is not feasible for Kolltan to pursue the Development or Commercialization of Licensed Products for reasons of safety or lack of efficacy, then Kolltan may terminate this Agreement with respect to the Licensed Program upon thirty (30) days’ written notice to MedImmune. If Kolltan reasonably determines that it is not feasible for Kolltan to pursue the Development or Commercialization of Follow-On Products for reasons of safety or lack of efficacy, then Kolltan may terminate this Agreement with respect to the Follow-On Program upon thirty (30) days’ written notice to MedImmune.
Termination for Regulatory Reasons. Either Party may terminate this Agreement without penalty or damages in the event that regulatory clearance or approval in either the U.S. or the European Union is revoked, such revocation to constitute a presumption that the Product design is deemed unsafe.
Termination for Regulatory Reasons. Tenant may terminate this Agreement if ordered to do so, whether formally or informally, by any state or federal regulatory authority having jurisdiction over Tenant, or if such regulatory authority threatens formal or informal administrative action to prohibit or restrict Tenant from performing under this Agreement. In any such event, Tenant may terminate this Agreement for such reason, effective upon giving Digitlord written notice of termination for such reason, and in such event this Agreement shall terminate neither party shall have any obligation or liability to the other party for any reason, except that Tenant shall continue to pay to Digitlord the Account Relationship Fee for a period of 36 months following the date of termination for such reason. Should regulatory action be “informal”, and at the request of Digitlord, Tenants attorney will document such actions for the Digitlord attorney. Information provided will be treated as confidential.
Termination for Regulatory Reasons. DealBench shall have the right to terminate this Agreement in writing immediately if DealBench determines in its sole discretion that the linking relationship established by this Agreement is prohibited by applicable law, rule or regulation, or that compliance with applicable law, rule or regulation would be in DealBench’s sole discretion, excessively burdensome to DealBench.
Termination for Regulatory Reasons. Bria may modify, discontinue, or terminate a license to any Product in any country or jurisdiction where there is any current or future government regulation, obligation, or other requirement, that causes Bria to believe this Agreement or such Product may conflict with any such regulation, obligation, or requirement. If Bria terminates a license for regulatory reasons, Customer will receive, as its sole remedy, a reimbursement for any prepaid, unused subscription fees.
Termination for Regulatory Reasons. The Customer acknowledges that the Platform Partner and/or ▇▇▇ and/or Supplier Partner may unliterally terminate, disable or suspend any Service(s) for legal, regulatory or any other reason on reasonable notice by the Platform Partner, TOD or Supplier Partner to the Customer.
Termination for Regulatory Reasons. 6.6.1 Each Party shall have a right to terminate this MSA if directed in writing by a Competent Authority. A Party may exercise such right upon 90 days’ prior notice, or such shorter timeframe as required by a Competent Authority or to comply with Regulation.
6.6.2 In the event of a termination of this MSA pursuant to this Section 6.6, the Parties acknowledge and agree that Migration of the Services may not be fully implemented as of such termination and, to the extent required by a Competent Authority, neither Party will have any obligation to assist in the Migration of the Services after such termination.
Termination for Regulatory Reasons. In case GAMIDA does not receive market approval by [*] or cease to pursue market approval GAMIDA has the right to terminate the Agreement upon [*] written notice. Upon any such termination, GAMIDA shall pay LONZA a termination fee equal to the sum of: (i) [*] of the Suite fee and (ii) [*] of the then headcount fees as set forth in this Agreement. It is hereby agreed by the Parties that in case the market approval may be delayed due to reasons outside LONZA`s control the Parties will agree upon new terms and conditions of this Agreement and GAMIDA shall be responsible for all additional costs and expenses arising out of such delay, such as but not limited to Suite fees and Head Count Fees, provided that LONZA shall make its best efforts to minimize and mitigate such costs and expenses.
Termination for Regulatory Reasons. Company may immediately terminate this Agreement upon written notice to Sponsor if Company determines in its sole discretion that the IQCS Pilot Program or the Sponsorship is prohibited by applicable law, rule or regulation, or that compliance with applicable law, rule or regulation would be in Company’s sole discretion, excessively burdensome to Company.