TERMINATION FOR DEFAULT. 3.17.1 The Institute, may, without prejudice to any other remedy for breach of contract, by written notice of default, sent to the Contractor, terminate this contract in whole or in part.
a) If the Contractor fails to deliver any or all the goods within the time period (s) specified in the contract, or any extension thereof granted by the Institute.
b) if the Contractor fails to perform any other obligation(s) under the contract; and
c) if the Contractor, in either of the above circumstances, does not remedy his failure within a period of 15 days (or such longer period as the Institute may authorize in writing) after receipt of the default notice from the Institute.
d) On a notice period of 30 days.
3.17.2 In the event the Institute terminates the contract in whole or in part pursuant to above para the Institute may procure, upon such terms and in such manner as it deems appropriate, goods similar to those undelivered and the Contractor shall be liable to the Institute for any excess cost for such similar goods. However, the Contractor shall continue the performance of the contract to the extent not terminated.
TERMINATION FOR DEFAULT i. NaBFID may, without prejudice to any other remedy for breach of Agreement, written notice of not less than 30 (thirty) days, terminate the Agreement in whole or in part:
(a) If the Service Provider fails to deliver any or all the obligations within the time period specified in the RFP/Agreement, or any extension thereof granted by NaBFID;
(b) If the Service Provider fails to perform any other obligation(s) under the RFP/Agreement;
(c) Violations of any terms and conditions stipulated in the RFP;
(d) On happening of any termination event mentioned in the RFP/Agreement. Prior to providing a written notice of termination to Service Provider under the abovesaid clauses, NaBFID shall provide Service Provider with a written notice of 30 (thirty) days to cure such breach of the Agreement. If the breach continues or remains unrectified after expiry of cure period, NaBFID shall have right to initiate action in accordance with above clause.
ii. In the event NaBFID terminates the Contract in whole or in part for the breaches attributable to Service Provider, NaBFID may procure, upon such terms and in such manner as it deems appropriate, software and Services similar to those undelivered, and subject to limitation of liability clause of this RFP Service Provider shall be liable to NaBFID for any increase in cost for such similar Software Solution and/or Services. However, Service Provider shall continue performance of the Contract to the extent not terminated.
iii. If the Contract is terminated under any termination clause, Service Provider shall handover all documents/ executable/ NaBFID’s data or any other relevant information to NaBFID in timely manner and in proper format as per scope of this RFP and shall also support the orderly transition to another service provider or to NaBFID.
iv. During the transition, Service Provider shall also support NaBFID on technical queries/support on process implementation or in case of software provision for future upgrades.
v. NaBFID’s right to terminate the Contract will be in addition to the penalties / liquidated damages and other actions as specified in this RFP.
vi. In the event of failure of the Service Provider to render the Services or in the event of termination of Agreement or expiry of term or otherwise, without prejudice to any other right, NaBFID at its sole discretion may make alternate arrangement for getting the Services contracted with another Service Provider. In such case, NaBFID shall give prior notice to t...
TERMINATION FOR DEFAULT a) Bank may, without prejudice to any other remedy for breach of contract, by written notice of default sent to the bidder, terminate the contract in whole or part:
i. If the bidder fails to deliver any or all of the services within the period(s) specified in the contract or within any extension thereof granted by the Bank pursuant to conditions of contract or
ii. If the bidder fails to perform any other obligation(s) under the contract.
b) In the event Bank terminates the Contract in whole (all the links) or in part (one or more links), Bank may procure, upon such terms and in such manner, as it deems appropriate, system or services similar to those undelivered and hte bidder shall be liable to Bank for any excess cost for such similar systems or services. However, the bidder shall continue the performance of the contract to the extent not terminated.
TERMINATION FOR DEFAULT. 1. Bank may, without prejudice to any other remedy for breach of contract, by written notice of not less than 30 (thirty) days, terminate the contract in whole or part:
a) If the ISP fails to deliver any or all of the services within the period(s) specified in the contract or within any extension thereof granted by the Bank pursuant to conditions of contract or
b) If the bidder fails to perform any other obligation(s) under the contract.
c) Violations of any terms and conditions stipulated in the RFP;
2. Prior to providing a written notice of termination to ISP under above clause, the Bank shall provide ISP with a written notice of 30 (thirty) days to cure such breach of the Agreement. If the breach continues or remains unrectified after expiry of cure period, the Bank shall have right to initiate action in accordance with above clause.
3. If the Contract is terminated under any termination clause, ISP shall handover all documents/ executable/ Bank’s data or any other relevant information to the Bank in timely manner and in proper format as per scope of this RFP and shall also support the orderly transition to another vendor or to the Bank.
4. During the transition, ISP shall also support the Bank on technical queries/support on process implementation.