Common use of Termination of this Contract by both Parties Clause in Contracts

Termination of this Contract by both Parties. Without prejudice to the other cases of suspension and/or termination in accordance with the applicable laws and regulations and/or the Contract, either Party may terminate this Contract provided prior legal authorisation is obtained: - if one Party fails to fulfil of his contractual obligations; - an important and detrimental change takes place in the legal status, the legal structure, the activities, the management or the financial situation of the other Party, which reasonably leads to the conclusion that it will not be possible for that Party to fulfil the stipulations and conditions of the Contract.

Termination of this Contract by both Parties. Without prejudice to the other cases of suspension and/or termination in accordance with the applicable laws and regulations and/or the Contract, either Party may terminate this Contract provided prior legal authorisation is obtained: -  if one Party fails to fulfil is in breach of his its contractual obligations; -  if an important and detrimental change takes place in the legal status, the legal structure, the activities, the management or the financial situation of the other Party, which reasonably leads to the conclusion that it will not be possible for that Party to fulfil the stipulations and conditions of the Contract.