Material Reason definition
Examples of Material Reason in a sentence
Except as provided in this § 18.4, Early Termination by virtue of operation of Automatic Termination shall be as provided in § 18.3 (Termination for Material Reason).
If this § 18.4 is specified as applying in Section B of Part I (Individual Terms) to a Party, and upon the occurrence of a Material Reason described in § 18.5(b) (Winding-up/Insolvency Attachment), the Terminating Party need not send that Party any notice of the designation of an Early Termination Date and the Early Termination Date in such event shall be as specified in Section B of Part I (Individual Terms).
It may be terminated in accordance with either § 10.2 (Expiration Date and 30 Day Termination Notice) or § 10.3 (Termination for Material Reason) through § 10.5 (Definition of Material Reason).
It may be terminated in accordance with § 18.2 (Expiration Date), § 18.3 (Termination for Material Reason), § 18.4 (Automatic Termination) or § 18.5 (Definition of Material Reason).
If "Automatic Termination" is specified as applying to a Party in the Election Sheet, and upon the occurrence of a Material Reason described in § 10.5(c) (Winding- up/Insolvency/Attachment), the Terminating Party need not send that Party any notice of the designation of an Early Termination Date and the Early Termination Date in such event shall be as specified in the Election Sheet.