Common use of TERMINATION OF CONTRACT/AGREEMENT Clause in Contracts

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine (9) months in continuous form or of twelve (12) months in discontinuous form in a period of two (2) Years, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice to the Seller of thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) days, the other Party shall be entitled to terminate this Agreement 16.1.4 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to terminate this Agreement after providing the Defaulting Party thirty (30) days prior notice and the material breach has not been cured or rectified to the satisfaction of the Non- Defaulting Party within the said period of thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice Notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any material change in the Coal distribution system of material assetsSeller due to a Government directive/ notification, levy at any time after the execution of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party shall be entitled to terminate this Agreement 16.1.4 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to Seller may terminate this Agreement without any obligation/liability after providing the Defaulting Party thirty (30) days Purchaser with prior written notice and the material breach has not been cured or rectified to the satisfaction Purchaser of the Non- Defaulting Party within the said period of not less than thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2 (in terms of Clause 2.2, 2.5 and Clause 2.6), this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine (9) months in continuous form or of twelve (12) months in discontinuous form in a period of two (2) Years, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice to the Seller of thirty (30) days. 16.1.3 In the event both the Parties fail to agree upon the future course of action within a period of thirty (30) days from the date of issue of notice, as described in Clause 2.6, the Seller shall have the right to terminate this Agreement, subject to a prior written notice to the Purchaser of thirty (30) days. 16.1.4 In the event that the Level of Delivery (LD) falls below thirty percent (30%) or the Level of Lifting (LL) falls below thirty percent (30%), the Purchaser or the Seller as the case may be, shall have the right to terminate this Agreement, within sixty (60) days of the end of the relevant Year after providing the other Party with prior written notice of thirty (30) days. 16.1.5 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) days, the other Party shall be entitled to terminate this Agreement 16.1.4 16.1.6 In the event the Purchaser fails to submit the renewed/revalidated PPA pursuant to suspension of coal supplies as per clause 14.4 within a period of Six (6) months from the date of expiry of the validity of the PPA, the Seller shall have the right to terminate this agreement by issuing a prior notice of thirty (30) days and in such case the SD shall be liable to be forfeited. 16.1.7 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to terminate this Agreement after providing the Defaulting Party thirty (30) days prior notice and the material breach has not been cured or rectified to the satisfaction of the Non- Defaulting Party within the said period of thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In 2I1n such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment change in the Coal distribution system of the material assetsSeller due to a Government directive/ notification, or at any order or injunction restraining time after the Party from dealing with or disposing execution of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party Seller shall be entitled within seven (7) days of introduction of such change provide a written notice to terminate this Agreement 16.1.4 In the event that any Party commits Purchaser calling for a material breach joint review. If the Parties are unable to arrive at a mutually agreed position with respect to the subject matter of term or condition review, within a period of this Agreement thirty (“Defaulting Party”30) not otherwise specified under this clause 16.1days from the date of notice, the other Party (“Non-Defaulting Party”), Seller shall have the right to terminate this the Agreement after providing the Defaulting Party subject to a further notice of thirty (30) days prior notice and the material breach has not been cured or rectified given in writing to the satisfaction of the Non- Defaulting other Party within the said period of thirty (30) dayswithout any obligation/liability . 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This 15.1 Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 15.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 16 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Non- Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is laterperiod, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 15.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice to the Seller of not less than thirty (30) days. 16.1.3 15.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any material change in the Coal distribution system of material assetsSeller due to a Government directive/ notification, levy of at any order of attachment of time after the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) days, the other Party shall be entitled to terminate this Agreement 16.1.4 In the event that any Party commits a material breach of term or condition execution of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1and which is going to affect the performance of the agreement, the other Party (“Non-Defaulting Party”), shall have the right to Seller may terminate this Agreement without any obligation/liability after providing the Defaulting Party thirty (30) days Purchaser with prior written notice and the material breach has not been cured or rectified to the satisfaction Purchaser of the Non- Defaulting Party within the said period of not less than thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2 (in terms of Clause 2.2, 2.5 and Clause 2.6), this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine (9) months in continuous form or of twelve (12) months in discontinuous form in a period of two (2) Years, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice to the Seller of thirty (30) days. 16.1.3 In the event both the Parties fail to agree upon the future course of action within a period of thirty (30) days from the date of issue of notice, as described in Clause 2.6, the Seller shall have the right to terminate this Agreement, subject to a prior written notice to the Purchaser of thirty (30) days. 16.1.4 In the event that the Level of Delivery (LD) falls below thirty percent (30%) or the Level of Lifting (LL) falls below thirty percent (30%), the Purchaser or the Seller as the case may be, shall have the right to terminate this Agreement, within sixty (60) days of the end of the relevant Year after providing the other Party with prior written notice of thirty (30) days. 16.1.5 In the event that either Party suffers insolvency, appointment of liquidator (provisional or provisionalor final), appointment of receiver of any of material assets, levy of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) days, the other Party shall be entitled to terminate this Agreement 16.1.4 16.1.6 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to terminate this Agreement after providing the Defaulting Party thirty (30) days prior notice and the material breach has not been cured or rectified to the satisfaction of the Non- Non-Defaulting Party within the said period of thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Non- Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice Notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment change in the Coal distribution system of the material assetsSeller due to a Government directive/ notification or change in law, or at any order or injunction restraining time after the Party from dealing with or disposing execution of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party Seller shall be entitled within seven (7) days of introduction of such change provide a written notice to terminate the Purchaser calling for a joint review of this Agreement 16.1.4 In . If the event that any Party commits Parties are unable to arrive at a mutually agreed position to deal with such material breach changes within a period of term or condition thirty (30) days from the date of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1notice by the Seller, the other Party (“Non-Defaulting Party”), Seller shall have the right to terminate this the Agreement after providing the Defaulting Party subject to a further notice of thirty (30) days prior notice and the material breach has not been cured or rectified given in writing to the satisfaction of the Non- Defaulting other Party within the said period of thirty (30) dayswithout any obligation/liability whatsoever. . 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Non- Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice Notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any material change in the Coal distribution system of material assetsSeller due to a Government directive/ notification, levy at any time after the execution of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party shall be entitled to terminate this Agreement 16.1.4 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to Seller may terminate this Agreement without any obligation/liability after providing the Defaulting Party thirty (30) days Purchaser with prior written notice and the material breach has not been cured or rectified to the satisfaction Purchaser of the Non- Defaulting Party within the said period of not less than thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice Notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment change in the Coal distribution system of the material assetsSeller due to a Government directive/ notification or change in law, or at any order or injunction restraining time after the Party from dealing with or disposing execution of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party Seller shall be entitled within seven (7) days of introduction of such change provide a written notice to terminate the Purchaser calling for a joint review of this Agreement 16.1.4 In . If the event that any Party commits Parties are unable to arrive at a mutually agreed position to deal with such material breach changes within a period of term or condition thirty (30) days from the date of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1notice by the Seller, the other Party (“Non-Defaulting Party”), Seller shall have the right to terminate this the Agreement after providing the Defaulting Party subject to a further notice of thirty (30) days prior notice and the material breach has not been cured or rectified given in writing to the satisfaction of the Non- Defaulting other Party within the said period of thirty (30) dayswithout any obligation/liability whatsoever. . 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.

TERMINATION OF CONTRACT/AGREEMENT. 16.1 This Notwithstanding the provisions of Clause 2, this Agreement may be terminated in the following events and in the manner specified hereunder: 16.1.1 In the event that either Party is rendered wholly or partially unable to perform its performits obligations under this Agreement (“Affected Party”) because of a Force Majeure Act, as described in Clause 17 below, and such inability to perform lasts for not less than a total of nine ninety (990) months days in any continuous form or of twelve (12) months in discontinuous form in a period of two one hundred eighty (2180) Yearsdays, and in the considered assessment of the other Party (“Non-Affected Party”) there is no reasonable likelihood of the Force Majeure Act coming to an end in the near future, such Party shall have the right to terminate this Agreement, by giving at least ninety (90) days prior written notice to the Affected Party of the intention to so terminate this Agreement. In such event, the termination shall take effect on expiry of the notice period or ninety (90) days whichever is later, and the Parties shall be absolved of all rights/obligations under this Agreement, save those that had already accrued as on the effective date of termination. 16.1.2 In the event that the Purchaser is prevented /disabled under law from using Coal, for reasons beyond their control, owing to changes in applicable environmental and/or statutory norms, howsoever brought into force; the Purchaser shall have the right to terminate this Agreement, subject to a prior written notice Notice to the Seller of not less than thirty (30) days. 16.1.3 In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any material change in the Coal distribution system of material assetsSeller due to a Government directive/ notification, levy at any time after the execution of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its assets and such order having been passed is not vacated within sixty (60) daysthis Agreement, the other Party shall be entitled to terminate this Agreement 16.1.4 In the event that any Party commits a material breach of term or condition of this Agreement (“Defaulting Party”) not otherwise specified under this clause 16.1, the other Party (“Non-Defaulting Party”), shall have the right to Seller may terminate this Agreement without any obligation/liability after providing the Defaulting Party thirty (30) days Purchaser with prior written notice and the material breach has not been cured or rectified to the satisfaction Purchaser of the Non- Defaulting Party within the said period of not less than thirty (30) days. 16.2 Accrued rights to survive Termination of this Agreement shall be without prejudice to the accrued rights and obligations of either Party as at immediately prior to the termination. 16.3 In the event of the termination of the agreement due to the reasons not attributable to the seller, the BG for the security deposit as well as financial guarantee against the risk shall be forfeited by the seller.