The contracting parties may validly terminate their contract for various reasons. TRX shall be deemed to have selected option (b) in writing of its option election (a) or (b) by December 1, 2011, at which time the Client shall be deemed to have selected option (b). Either party may terminate this Agreement and the rights granted hereunder if the other party materially breaches any provision of this Agreement and fails to cure such breach within thirty (30) days of receipt of written notice, provided that the breach is not related to a financial obligation (in which case TRX may exercise its rights under Section 6( a)) or a breach of confidentiality (in which case the breach cannot infringe party to exercise its rights). in accordance with article 7 (f)). Termination of this Agreement shall not be the exclusive remedy of either party for any breach or default of the other party, and subject to the other provisions of this Agreement, either party shall have the right to seek all other remedies available at law and in equity, including injunctive relief. On the other hand, in response to the wrongful termination of a construction contract by an owner, the contractor would be entitled to recover the cost of its work up to the date of termination, plus all overhead costs incurred, plus lost profits and overhead. In the event of unlawful termination of the Contractor by an owner after completion of the Work, the Contractor would be entitled to recover the Contract Amount less the actual costs it would have incurred in completing the remainder of the Project. 4.3 Termination for Non-Payment. If Tenet defaults on payment of an amount due to IMaCS and fails to do so within thirty (30) days of written notice: (a) remedy such default; or (b) state that the payment is disputed and provide a detailed explanation of that dispute and file the disputed amount in a major state of the United States. Commercial bank reasonably appointed by IMaCS, with interest awarded to the party entitled to the principal amount after settlement of the dispute, IMaCS may terminate this Agreement. In the event that Tenet deposits a disputed amount in trust, such amount, together with accrued interest, will not be released by the Trustee unless (a) written instructions from IMaCS and Tenet or (b) an order of an arbitrator or court of competent jurisdiction has been obtained. 18.2 For simplicity by WSI.
Subject to the time limits and other conditions set forth in Schedule C, Part 1, Part 8.0(b), WSI may terminate this Agreement in whole or in part as set forth herein) upon 90 days` written notice to IBM. WSI may terminate the Service Categories for convenience as described in and subject to the terms set forth in Schedule C, Part I, Section 8.0. The following facts are considered by the courts in determining whether a breach was material: When used in litigation, the term refers to the final decision on the application. Void contracts are agreements that lack essential elements of performance or are otherwise illegal. For example, contracts that have not been signed by all parties involved, agreements with minors, fraudulent contracts or agreements to sell illegal drugs are considered void. (a) For cause by WSI. If IBM (i) materially breaches this Agreement and (1) fails to remedy such breach within thirty (30) days of receipt of notice of default, or (2) with respect to a breach that cannot be cured with due diligence within thirty (30) days of notification, IBM will not promptly and diligently remedy the breach and provide a complete plan to remedy the breach. within thirty (30) days of notification of the violation. develop. WSI, (ii) commits numerous breaches of its obligations which, taken together, constitute a material breach, and continues to commit breaches of this Agreement within sixty (60) days of IBM`s receipt of notice from WSI that IBM may terminate WSI under this Section, WSI may, upon notice to IBM, terminate this Agreement in whole or in part on the date of termination specified in the notice.
Every contract requires one or more parties to do what is referred to in terms as „performance”. If it is impossible to fulfil the obligations necessary for the contract, you may withdraw from the contract due to the impossibility of performance. The termination of a lease refers to the separation of the landlord-tenant relationship before the end of the tenancy period by the normal passage of time. Termination of the Plan will not affect the Administrator`s ability to exercise its authority under this Agreement with respect to rewards granted under the Plan prior to the date of such termination. A contract is a legally binding document between two or more parties. The contract obliges all parties involved to perform certain obligations set out in the contract before the contract is deemed to be concluded. In certain circumstances, the contract is void if the termination occurs, but only the parties to the agreement can decide to terminate the contract. Many projects may benefit from a termination clause. However, seek advice from lawyers to avoid mistakes that can affect your future. 18.6 Effect of Termination. In the event WSI terminates this Agreement, IBM will cease all Work as of the termination date specified in the notice of termination. WSI shall be liable to IBM for all services rendered, travel and incidental expenses incurred up to the effective date specified in the termination.
WSI shall have no obligation to pay IBM for the Services, Travel Expenses or Incidental Fees after the effective date of termination, unless WSI is required to pay additional fees or travel or incidental expenses in exercising its option in accordance with Section 19.1. Upon termination of this Agreement, either party shall also promptly return to the other party all documents in its possession (other than copies permitted under this Agreement) and certify to the other party in writing that all such items have been returned or destroyed. Breach of contract. Under the terms of a contract, both parties are obliged to perform in accordance with the contract. If one party fails to perform, prevents the other party from performing or violates the terms of the contract without legal justification, it has breached the contract and the contract may be terminated. The non-breaching party may make a claim for damages caused by the breach. After the termination of a contract, the contracting parties no longer have any future obligations towards each other. However, one or both parties may be held liable for breach of the terms of the contract prior to termination. The terms of the contract can also determine what happens after the contract is terminated.
A contract is a legally enforceable agreement between two parties regarding goods or services. Contracts can be oral or written, although it is generally recommended that contracts be written and signed by both parties. Severance benefits are paid if the employment relationship is terminated by the Group before the normal retirement date or if an employee agrees to voluntary termination in exchange for these benefits. In the event that a party terminates the contract without justification in accordance with the general principles of contract law or the terms of the contract, such termination shall be qualified as unreasonable termination. Wrongful termination constitutes termination of the contract and therefore constitutes in itself a material breach of contract. Fraud, misrepresentation or error. If the contract was concluded in circumstances that constitute fraud, misrepresentation or error, the contract may be terminated. In this situation, there could not have been a „meeting of chiefs” on the terms of the contract, since the actual facts were not known to the parties.
4.5 Termination of MLSA. Tenet may terminate this Agreement in the event of termination of MLSA by either party or expiration of MLSA. 18.5 Termination Fees. Except as expressly provided in this section, WSI shall not be liable for any termination fees related to expiration or termination due to this Agreement. Yes, termination clauses are required when drafting contracts. The use in your agreements ensures that the parties cannot arbitrarily abandon their obligations. Negotiate these terms carefully with a lawyer to ensure they are enforceable and fair. An experienced lawyer can help you draft the contract, resolve disputes that arise during the performance of the contract, and represent you in court if you are involved in a dispute arising from a termination of the contract. 18.4 Partial termination: adjustment of termination rates. If WSI terminates any portion of the Services in accordance with Section 18.2, the termination fee applicable to the remaining Services as a whole will be adjusted in accordance with Exhibit C.
Prior to the incurrence of costs under paragraph (f) of this clause, the Government shall have the right to terminate the Service in accordance with the „Cancellation or Termination of Orders” clause of this Agreement.