Common use of Termination for Regulatory Reasons Clause in Contracts

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.