(e) Termination of an event (for example. B of a repurchase agreement) for termination of insolvency. If [PARTY B] becomes insolvent, bankrupt or bankrupt, in liquidation or liquidation, [PARTY A] may terminate the contract with immediate effect. Giving details like this can help a user understand what he/he/he should refrain from it if his account is kept in good condition. As a general rule, an agreement can only be legally terminated if there is a legitimate reason to do so. This may be one of the following: Termination for law or order. Any party may terminate this contract with immediate effect if the insolvency is terminated. Any party may terminate this contract with immediate effect to insolvency, bankruptcy, bankruptcy, dissolution or liquidation of the other party. the aggrieved person does not violate this agreement himself. failure, vagueness or violation are serious enough to substantially impair or reduce the value of the whole agreement, not just a given declaration of work, and breach – if one of the contractors fails to meet its contractual obligations, it is a violation. As a result, the non-infringing party is allowed to recover its losses. NOTE: For agreements that earn income from TTUHSC, add the following paragraph, which defines compensation and payment terms: Termination. This agreement ends with the distribution of all Escrow shares under this agreement, after which [PARTY C] has no other obligation or liability.
In order to enhance specificity and security, the parties can agree on a list of events or acts that constitute substantial violations of the agreement. If you really want this particular red brand, add a layout explicitly that the brand is used, and add to your list, which represents an essential violation ”Non-use of MyBrand™ red color. Execution – an agreement is terminated when all parties involved have fulfilled their obligations under the agreement. Resignation for equipment injury. [PARTY A] may terminate this contract with immediate effect by communicating termination to [PARTY B] if appropriate. ”[C] our companies imposed an appropriate reporting obligation in UCC cases, but did not impose the additional duty to terminate in good faith. In summary, the general rule is that, as long as appropriate notification is provided in Sections 2 to 309, a party may terminate an at will contract unilaterally for the accommodation clauses under the UCC. Termination for Convenience Under the Uniform Commercial Code, Joseph Martini, Matthew Brown, Susan Kennedy, Wiggin Dana, March 10, 2014. 2-309 (2) UCC provides that indeterminate contracts may be terminated at their convenience by both parties, even if this is not expressly provided for in the agreement. Cancel the higher proposal.
[PARTY B] may terminate this contract for the conclusion of a final agreement on a superior proposal in accordance with the section [NON-SOLICItation and ALTERNATIVE PROPOSALS] provided [PARTY has paid the corresponding termination fees in accordance with the [TERMINATION] section. Another common case of redundancy clauses is employment contracts. Here, they are used to define faults or violations that may lead to the dismissal of an employee.