Massachusetts Clauses Relating to Termination and Liquidation of Venture
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Either party may terminate this Agreement at any time after [insert time period after which agreement can be terminated, e.g., one (1) year], with or without cause, by written notice to the other, such termination to become effective [number, e.g., sixty (60)] days after receipt of such notice.
This default and termination clause may be included in construction contracts and is drafted from the perspective of the owner. It provides all the remedies available to an owner when a contractor in a construction project is in default, in addition to termination of the contract.
Termination grounds: A termination clause outlines the conditions or grounds under which parties can terminate the contract. These grounds may include failure to meet performance expectations, contract breach or nonperformance, mutual agreement, insolvency, and change in circumstances.
Survival clauses are the clauses that identify as being able to survive the termination of the contract and demanding compliance from the parties to the provision thereto even if the parties have concluded or terminated the contract. For example, confidential information, indemnity, residual knowledge etc.
drafted termination and release agreement is the definitive end of the parties' commitments, and can help prevent future misunderstandings and disputes. While no document can insulate you from later lawsuits or claims, a clear termination form can strengthen your defense if such claims arise.
Termination grounds: A termination clause outlines the conditions or grounds under which parties can terminate the contract. These grounds may include failure to meet performance expectations, contract breach or nonperformance, mutual agreement, insolvency, and change in circumstances.
Here is an example of an early termination clause: Early Termination Clause: The Tenant may terminate this Lease Agreement before the expiration date by giving the Landlord a written notice of at least 60 days and paying a termination fee equivalent to two months' rent.
Standard Clause under Massachusetts law requiring the breaching party to pay a predetermined amount to the non-breaching party as exclusive compensation for the breaching party's failure to perform a specific task or comply with a particular obligation.