Common use of Termination of the Agreement by either Party Clause in Contracts

Termination of the Agreement by either Party. This Agreement may be terminated before the Term by any of the Parties hereto in unilateral extra-judicial order by written notice from the terminating party to the other Party, without prejudice to any right of either Party to seek compensation pursuant to Articles 13 of this Agreement or clauses 5,6 of Appendix 4 hereto and/or damages for breach of this Agreement, in the following cases: (i) with immediate effect, if the other Party becomes insolvent, is declared bankrupt, put into liquidation, dissolved, whether voluntarily or by a court decision, is obligated to make an assignment of its assets to the benefit of its creditors, or requests the appointment of a receiver or is subject to a similar procedure; (ii) upon a thirty (30) days prior notice given to the other Party: (a) if the Parties fail to reach an agreement within a negotiation period of three (3) consecutive months as from the date when the Party is notified about the dispute; (b) if a force majeure event prevents the other Party from fulfilling its obligations hereunder during a period of more than three (3) consecutive calendar months following the date on which the Party suffering the force majeure event informed the other Party of the same as per Article 16.

Termination of the Agreement by either Party. This Agreement may be terminated before the Term by any of the Parties hereto in unilateral extra-judicial order by written notice from the terminating party to the other Party, without prejudice to any right of either Party to seek compensation pursuant to Articles 13 14 of this Agreement or clauses 5,6 of Appendix 4 hereto and/or damages for breach of this Agreement, in the following cases: (i) with immediate effect, if the other Party becomes insolvent, is declared bankrupt, put into liquidation, dissolved, whether voluntarily or by a court decision, is obligated to make an assignment of its assets to the benefit of its creditors, or requests the appointment of a receiver or is subject to a similar procedure; (ii) upon a thirty (30) days prior notice given to the other Party: (a) if the Parties fail to reach an agreement within a negotiation period of three (3) consecutive months as from the date when the Party is notified about the dispute; (b) if a force majeure event prevents the other Party from fulfilling its obligations hereunder during a period of more than three (3) consecutive calendar months following the date on which the Party suffering the force majeure event informed the other Party of the same as per Article 16.

Termination of the Agreement by either Party. This Agreement may be terminated before the Term by any of the Parties hereto in unilateral extra-judicial order by written notice from the terminating party to the other Party, without prejudice to any right of either Party to seek compensation pursuant to Articles 13 14 of this Agreement or clauses 5,6 of Appendix 4 hereto and/or damages for breach of this Agreement, in the following cases: (i) with immediate effect, if the other Party becomes insolvent, is declared bankrupt, put into liquidation, dissolved, whether voluntarily or by a court decision, is obligated to make an assignment of its assets to the benefit of its creditors, or requests the appointment of a receiver or is subject to a similar procedure; (ii) upon a thirty (30) days prior notice given to the other Party: (a) if the Parties fail to reach an agreement within a negotiation period of three (3) consecutive months as from the date when the Party is notified about the dispute; (b) if a force majeure event prevents the other Party from fulfilling its obligations hereunder during a period of more than three (3) consecutive calendar months following the date on which the Party suffering the force majeure event informed the other Party of the same as per Article 1617.1.