The termination clause describes the circumstances in which the parties may terminate their legal relationship and terminate their obligations under the contract. Under customary law, the parties may terminate the contract for material or fundamental breach of the agreement. As with any legally binding contract, termination of the contract (a GTC agreement is the contract) is possible in certain circumstances. The right to healing is the right of an injuring party to compensate and correct that party`s breach of the agreement. The parties agree on a „healing period“ a certain number of days after an offence. If the injuring party heals its breach within the healing period, the contract continues, the infringement is awarded and there is no reason to terminate the contract. Resignation for Superior Proposal. [PARTY B] may terminate the Agreement in order to enter into a final agreement on a Comprehensive Proposal in accordance with section [NON-ADVERTISING AND ALTERNATIVE PROPOSALS], provided that [the Party has paid the corresponding termination fees listed in Section [Termination]. subscription fees, fees to be paid by subscriber for use of the Software in accordance with clause 5; Termination clauses may require one party to compensate the other party by paying a certain fee upon termination of the contract (e.g. B if the seller resigns because its board of directors has a fiduciary duty to pursue a better deal or if the buyer resigns because it cannot obtain financing). When the seller is required to pay, the tax is often referred to as separation tax, cancellation fee, or termination fee.
When the buyer is required to pay, the fee is usually called reverse termination fee or Reverse Break-up fee. Execution of an agreement if all parties concerned have fulfilled their obligations under the agreement. Error, fraud or misrepresentation – if the contract does not contain all the necessary information or if certain circumstances important for its conclusion are incorrect, this constitutes a valid reason for termination. These points are a great place to maintain your right to terminate an account at any time and to sufficiently inform users of what they can expect from account termination. There exists or becomes a law that prohibits the implementation of this Agreement or 11.4 This clause applies even after the termination of these Subscription Terms, regardless of the result. Resignation for material breach. [PARTY A] may terminate this agreement with immediate effect by announcing the termination of [PART B] if you give users a lot of control and access to a portion of your platform with user-generated content or if your platform is a SaaS, so that you wish to be able to remove that control and access if a user abuses your service or violates the terms, that you include in the legal agreement….