Common use of Termination or Postponement Clause in Contracts

Termination or Postponement. 7.1 An Agreement between iPlans and a Client may be postponed or terminated by either party on 14 days’ written notice; by agreement or in the event of specific circumstances, i.e. material breach or failure to comply with obligations under the agreement which are not remedied within a particular period; and insolvency, bankruptcy etc. of either party. In the event of such circumstances iPlans shall be entitled to remuneration to cover preparation time, opportunity lost and loss of profits in accordance with the agreement, for the services provided with due authority to the date of determination.

Termination or Postponement. 7.1 An Agreement between iPlans and a Client may be postponed or terminated by either party on 14 days’ days written notice; by agreement or in the event of specific circumstances, i.e. material breach or failure to comply with obligations under the agreement which are not remedied within a particular period; and insolvency, bankruptcy etc. of either party. In the event of such circumstances iPlans shall be entitled to remuneration to cover preparation time, opportunity lost and loss of profits in accordance with the agreement, for the services provided with due authority to the date of determination.