Common use of Termination of the Participation Agreement Clause in Contracts

Termination of the Participation Agreement. 1. The Participation Agreement may be terminated by either of the Contracting Parties with a one- month notice period commencing on the first day of the calendar month following the month in which a written termination notice was delivered to the other Contracting Party. The Contracting Party may thus also terminate the Participation Agreement only in the part concerning any of the Commodities to which the Trading Participant’s authorization to conclude Exchange Trades applies. 2. Either of the Contracting Parties (“Withdrawing Party”) may withdraw from the Participation Agreement if the other Contracting Party (“Breaching Party”) (i) repeatedly breaches any of the obligations resulting from the Participation Agreement or the Exchange Rules and Regulations, or