TERMINATION - The Parties Clause Samples

TERMINATION - The Parties expressly agree that any breaches of their essential obligations as specified in section 1 above may entail termination of the Contract if formal notice served to the defaulting party by registered letter with acknowledgement of receipt goes unheeded. Termination will be notified to the latter in a new registered letter with acknowledgement of receipt and will take effect immediately. If the Contract is terminated through the fault of the Exhibitor, this right to terminate will entail full payment of costs incurred by the Organizer in its performance of the Contract up to the date of termination – as duly proved -, on receipt of the invoice by the Exhibitor. Any major breach committed less than 4 months before the Event and justifying the termination of the Contract entails in any case payment of 100% of the Contract. If the Contract is terminated through the fault of the Organizer: the sums corresponding to services correctly executed and duly justified by the Organizer up to the date of termination will be owed by the Exhibitor.