Term Termination Clause Example with 6 Variations from Business Contracts

Term Termination. 7.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, December 31, 2023, and shall thereafter renew may continue beyond such initial term for such additional successive 5 year terms unless and until either Party provides notice of nonrenewal at least 90 days before term as the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law parties may mutually agree in a signed writing (the "Term..."). If either Party provides timely notice of its intent not to renew or continue this Agreement, then unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 7.2 Termination Rights. Either In addition to any remedies that may be provided in this Agreement, either Party may immediately terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), Agreement, upon notice to the other Party: (a) except as otherwise specifically provided under this Section 7.2, Party, if the other Party: (a) fails to pay any material amount when due under this Agreement and such payment is not made within 30 days from the date of written notice to the other Party of such nonpayment; (b) is in breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 business days following the other breaching Party's receipt of notice of such breach; (b) if the other Party: (i) (c) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) (d) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (iii) (e) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition composition, or other relief with respect to it or its debts; (iv) (f) makes or seeks to make a general assignment for the benefit of its creditors; or (v) 5 (g) applies for or has a receiver, trustee, custodian custodian, or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. 7.3 Effectiveness of Termination. Any termination under this Section 7.2 is effective on upon receipt of notice of termination. 7.3 Effect 7.4 Limitation of Expiration Liability for Termination and Expiration. The Parties shall not be liable in any manner whatsoever on account of termination or Termination. Upon expiration of this Agreement. The parties shall not, by reason of the expiration or earlier termination of this Agreement: (a) All related purchase orders are automatically terminated; and (b) Each Party shall promptly return Agreement at any time or destroy all documents and tangible materials (and times or for any copies) containing, reflecting, incorporating or based on reason, be liable to any of the other Party's Confidential Information. 7.4 Post-Term Resale. On Parties for compensation, reimbursement or damages on account of the expiration loss of prospective profits on anticipated sales, on account of expenditures, investments, leases or earlier termination of this Agreement, except for termination by SBA under Section 7.2(a), Distributor may, commitments in accordance connection with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 months following the last day business or goodwill of the Term ("Post-Term Resale Period"). other Parties, on account of loss of customers or otherwise. View More

Term Termination. 7.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, the first anniversary of the date hereof, and shall thereafter renew for additional successive 5 one year terms unless and until either Party provides notice of nonrenewal at least 90 days before subject to the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law (the "Term"). If either Party provides timely notice of its intent not... to renew this Agreement, then unless earlier terminated termination right below in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 7.2 Section 9.2. Termination Rights. Either Party may terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), upon notice to the other Party: (a) It being understood by the Parties hereto that the closing of the transaction contemplated herein is predicated upon receipt by the Distributor of $2,500,000 in additional capital (the "Capital Raise"). Should Distributor be unable to consummate the Capital Raise prior to August 31, 2018, then either Seller or Distributor may terminate this Agreement pursuant to the Notice provisions in Section 18 herein. except as otherwise specifically provided under this Section 7.2, 9.2 if the other Party is in material breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 days following the other breaching Party's receipt of notice of such breach; (b) if the other Party: (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (iii) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts; (iv) makes or seeks to make a general assignment for the benefit of its creditors; or (v) applies for or has a receiver, trustee, custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. Seller may terminate this Agreement upon thirty (30) days' notice to Distributor in the event that Distributor fails to meet any purchase minimums in Section 2 herein above. 5 Any termination under this Section 7.2 9.2 is effective on receipt of notice of termination. 7.3 Effect of Expiration or Termination. Upon the expiration or earlier termination of this Agreement: (a) All related purchase orders Purchase Orders are automatically terminated; and (b) Each Party shall promptly return or destroy all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other Party's Confidential Information. 7.4 Post-Term Resale. On the expiration or earlier termination of this Agreement, except for termination by SBA Seller under Section 7.2(a), 9.2(b). Distributor may, in accordance with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 six months following the last day of the Term ("Post-Term Resale Period"). Term. View More

Term Termination. 7.1 9.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, the first anniversary of the date hereof, and shall thereafter renew for additional successive 5 one year terms unless and until either Party provides notice of nonrenewal at least 90 30 days before the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law (the "Term"). If either Party provides timely notice of its intent not to ...renew this Agreement, then unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 7.2 Term 9.2 Termination Rights. Either Party may terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), upon notice to the other Party: (a) It being understood by the Parties hereto that the closing of the transaction contemplated herein is predicated upon receipt by the Distributor of $2,500,000 in additional capital (the "Capital Raise"). Should Distributor be unable to consummate the Capital Raise prior to August 31, 2018 then either Seller or Distributor may terminate this Agreement pursuant to the Notice provisions in Section 18 herein. (b) except as otherwise specifically provided under this Section 7.2, 9.2 if the other Party is in material breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 45 days following the other Party's receipt of notice of such breach; (b) (c) the Distributor does not meet the requirements of Section 5(a); (d) if the other Party: (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; 6 (iii) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts; (iv) makes or seeks to make a general assignment for the benefit of its creditors; or (v) applies for or has a receiver, trustee, custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. Any termination under this Section 7.2 9.1 is effective on receipt of notice of termination. 7.3 9.3 Effect of Expiration or Termination. Upon the expiration or earlier termination of this Agreement: (a) All related purchase orders Purchase Orders are automatically terminated; and (b) Each Party shall promptly return or destroy all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other Party's Confidential Information. 7.4 9.4 Post-Term Resale. On the expiration or earlier termination of this Agreement, except for termination by SBA Seller under Section 7.2(a), 9.2(a), Distributor may, in accordance with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 six months following the last day of the Term ("Post-Term Resale Period"). View More

Term Termination. 7.1 8.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, 20th May 2025, and shall thereafter renew for additional successive 5 year terms unless and until either Party provides notice of nonrenewal at least 90 days before the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law (the "Term"). If either Party provides timely notice of its intent not to renew this Agreement, then unless ...earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 7.2 8.2 Termination Rights. Either Party may terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), 8.3(a)), upon notice to the other Party: (a) except as otherwise specifically provided under this Section 7.2, 8.2, if the other Party is in breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 days following the other Party's receipt of notice of such breach; (b) if the other Party: (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (iii) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts; (iv) makes or seeks to make a general assignment for the benefit of its creditors; or (v) applies for or has a receiver, trustee, custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. Any termination under this Section 7.2 8.2 is effective on receipt of notice of termination. 7.3 Slinger Bag Americas Inc _ Framework Sports & Marketing Ltd 6 Distribution Agreement 20th May, 2020 8.3 Effect of Expiration or Termination. Upon the expiration or earlier termination of this Agreement: (a) All related purchase orders are automatically terminated; and (b) Each Party shall promptly return or destroy all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other Party's Confidential Information. 7.4 8.4 Post-Term Resale. On the expiration or earlier termination of this Agreement, except for termination by SBA under Section 7.2(a), 8.2(a), Distributor may, in accordance with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 months following the last day of the Term ("Post-Term Resale Period"). View More

Term Termination. 7.1 8.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, 31 JANUARY 2025, and shall thereafter renew for additional successive 5 year terms unless and until either Party provides notice of nonrenewal at least 90 days before the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law (the "Term"). "Ter m"). If either Party provides timely notice of its intent not to renew this Agreement, ...then unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the then-current then current Term. 7.2 8.2 Termination Rights. Either Party may terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), 8.3(a)), upon notice to the other Party: (a) except as otherwise specifically provided under this Section 7.2, 8.2, if the other Party is in breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 days following the other Party's receipt of notice of such breach; (b) if the other Party: (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; Slinger Bag Americas inc_Globeride IncDistribution AgreementFebruary 20, 20206 (iii) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts; (iv) makes or seeks to make a general assignment for the benefit of its creditors; or (v) applies for or has a receiver, trustee, custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. Any termination under this Section 7.2 8.2 is effective on receipt of notice of termination. 7.3 8.3 Effect of Expiration or Termination. Upon the expiration or earlier termination of this Agreement: (a) All related purchase orders are automatically autom tically terminated; and (b) Each Party shall promptly return or destroy all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other Party's Confidential Information. 7.4 8.4 Post-Term Resale. On the expiration or earlier termination of this Agreement, except for termination by SBA under Section 7.2(a), 8.2(a), Distributor may, in accordance with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 months following the last day of the Term ("Post-Term ("Pos-tTerm Resale Period"). View More

Term Termination. 7.1 8.1 Term. The term of this Agreement commences on the Effective Date and terminates on 31/12/2025, and shall thereafter renew for additional successive 5 year terms unless and until either Party provides notice of nonrenewal at least 90 days before the end of the then-current term, or unless and until earlier terminated as provided under this Agreement or applicable law (the "Term"). If either Party provides timely notice of its intent not to renew this Agreement, then unless earlier termina...ted in accordance with its terms, this Agreement terminates on the expiration of the then-current Term. 7.2 Slinger Bag Americas Inc Dunlop / Sumitomo Distribution Agreement September 20206 8.2 Termination Rights. Either Party may terminate this Agreement (including all related purchase orders pursuant to Section 7.3(a)), 8.3(a)), upon notice to the other Party: (a) except as otherwise specifically provided under this Section 7.2, 8.2, if the other Party is in breach of this Agreement and either the breach cannot be cured or, if the breach can be cured, it is not cured within 30 days following the other Party's receipt of notice of such breach; (b) if the other Party: (i) becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; Slinger Bag Americas Inc – Planet SportDistribution AgreementAugust 20206 (ii) files or has filed against it, a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; (iii) seeks reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts; (iv) makes or seeks to make a general assignment for the benefit of its creditors; or (v) applies for or has a receiver, trustee, custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business. Any termination under this Section 7.2 8.2 is effective on receipt of notice of termination. 7.3 8.3 Effect of Expiration or Termination. Upon the expiration or earlier termination of this Agreement: (a) All related purchase orders are automatically terminated; and (b) Each Party shall promptly return or destroy all documents and tangible materials (and any copies) containing, reflecting, incorporating or based on the other Party's Confidential Information. 7.4 8.4 Post-Term Resale. On the expiration or earlier termination of this Agreement, except for termination by SBA under Section 7.2(a), 8.2(a), Distributor may, in accordance with the applicable terms and conditions of this Agreement, sell off its existing inventories of Goods for a period of 6 months following the last day of the Term ("Post-Term Resale Period"). View More