Common use of Termination in Relation to Financial Standing Clause in Contracts

Termination in Relation to Financial Standing. The Customer may terminate this Call Off Contract by issuing a Termination Notice to the Supplier where in the reasonable opinion of the Customer there is a material detrimental change in the financial standing and/or the credit rating of the Supplier which: adversely impacts on the Supplier's ability to supply the Goods and/or Services under this Call Off Contract; or could reasonably be expected to have an adverse impact on the Suppliers ability to supply the Goods and/or Services under this Call Off Contract. The Customer shall not issue such a Termination Notice as specified in Clause 41.3.1 without first notifying the Supplier of the Customer’s intentions and giving the Supplier five (5) Working Days to demonstrate to the reasonable satisfaction of the Customer that such change in the financial standing and/or the credit rating of the Supplier will not impact the Supplier’s ability to perform the Call-Off Contract. The Customer’s decision (following Supplier’s representations) regarding change in the financial standing and/or the credit rating of the Supplier shall be the final decision .

Termination in Relation to Financial Standing. The Customer may terminate this Call Off Contract by issuing a Termination Notice to the Supplier where in the reasonable opinion of the Customer there is a material detrimental change in the financial standing and/or the credit rating of the Supplier which: adversely impacts on the Supplier's ability to supply the Goods and/or Services under this Call Off Contract; or could reasonably be expected to have an adverse impact on the Suppliers ability to supply the Goods and/or Services under this Call Off Contract. The Customer shall not issue such a Termination Notice as specified in Clause 41.3.1 without first notifying the Supplier of the Customer’s intentions and giving the Supplier five (5) Working Days to demonstrate to the reasonable satisfaction of the Customer that such change in the financial standing and/or the credit rating of the Supplier will not impact the Supplier’s ability to perform the Call-Off Contract. The Customer’s decision (following Supplier’s representations) regarding change in the financial standing and/or the credit rating of the Supplier shall be the final decision decision.