District of Columbia Clauses Relating to Termination and Liquidation of Venture
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How to fill out Clauses Relating To Termination And Liquidation Of Venture?
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Termination for Breach of Contract. Termination for breach of contract requires a repudiatory breach of contract. Here's the tldr. Conduct is repudiatory if it ?deprives the innocent party of substantially the whole of the benefit?, intended to be received for performance of the obligations under a contract.
The term ?Termination for Cause? shall mean termination because of Executive's personal dishonesty, incompetence, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic violations or ...
A party may terminate a contract under a contractual right, or if the other party: breaches a condition (or an 'essential term'); or. commits a sufficiently serious breach of an 'intermediate term'.
The following is a non-exhaustive list of examples of secondary obligations that will generally survive termination under the common law: an agreement to refer disputes to arbitration; an agreement as to the choice of forum; an obligation not to disclose confidential information;
Here is an example of a termination clause: ?Party A and Party B have the right to terminate the Contract under material breach, change in circumstances, insolvency, and mutual agreement. To terminate the Contract, the terminating party must provide 30 days of written notice to the other party.
In common with Survival of Terms clauses, Consequences of Termination Clauses can be included in contracts to state the rights which are intended to continue at termination, or end. Survival of Terms clauses often form part of Consequences of Term Clauses, when a Consequences of Term Clause is used.
There are two basic types of termination: 1) termination for cause, otherwise known as termination for default; and 2) termination for convenience. A party's right to terminate its contract may originate from the general principles of contract law or it may arise out of the terms of the contract itself.
A Party may terminate this Agreement for material breach of this Agreement by the other Party upon thirty (30)days' written notice specifying the nature of the breach, if such breach has not been cured within such thirty (30)-day period.