Common use of Termination Rights of Both Parties Clause in Contracts

Termination Rights of Both Parties. (1) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if CEC Pre-Certification has not been obtained by Seller within twelve (12) months after the Effective Date. (2) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if Seller has not obtained Permit Approval of the Construction Permits within eighteen (18) months after the Effective Date and a Notice of termination is given on or before the end of the nineteenth (19th) month after the Effective Date. (3) Either Party shall have the right to terminate this Agreement in accordance with Section 5.05 (Force Majeure).

Appears in 3 contracts

Samples: Renewable Power Purchase and Sale Agreement (Montauk Renewables, Inc.), Renewable Power Purchase and Sale Agreement, Renewable Power Purchase and Sale Agreement

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Termination Rights of Both Parties. ‌‌ (1) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if CEC Pre-Certification has not been obtained by Seller within twelve (12) months after the Effective Date.Date.‌ (2) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if Seller has not obtained Permit Approval of the Construction Permits within eighteen (18) 15 months after the Effective Date and a Notice of termination is given on or before the end of the nineteenth (19th) 15th month after the Effective Date. Date.‌‌ (3ii) Either Party shall have the right to terminate this Agreement in accordance with Section 5.05 (Force MajeureIntentionally Omitted).

Appears in 1 contract

Samples: Renewable Power Purchase and Sale Agreement

Termination Rights of Both Parties. (1) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if CEC Pre-Certification has not been obtained by Seller within twelve (12) months after the Effective Date. (2) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if Seller has not obtained Permit Approval of the Construction Permits within eighteen (18) 15 months after the Effective Date and a Notice of termination is given on or before the end of the nineteenth (19th) 15th month after the Effective Date. (3) Either Party shall have the right to terminate this Agreement in accordance with Section 5.05 (Force Majeure).Date.‌

Appears in 1 contract

Samples: Renewable Power Purchase and Sale Agreement

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Termination Rights of Both Parties. (1) Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if CEC Pre-Certification has not been obtained by Seller within twelve (12) months after the Effective Date. (2) . Either Party has the right to terminate this Agreement on Notice, which will be effective five (5) Business Days after such Notice is given, if Seller has not obtained Permit Approval of the Construction Permits within eighteen (18) months after the Effective Date and a Notice of termination is given on or before the end of the nineteenth (19th) month after the Effective Date. (3) Either Party shall have the right to terminate this Agreement in accordance with Section 5.05 (Force Majeure).

Appears in 1 contract

Samples: Renewable Power Purchase and Sale Agreement

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