Terminating Event definition: Copy, customize, and use instantly
Introduction
The term "Terminating Event" refers to a specified event or condition that triggers the termination of a contract or agreement. It is often included in agreements to provide a clear understanding of when the contract may be ended, ensuring that both parties are aware of the circumstances that lead to the end of their obligations. A "Terminating Event" helps prevent disputes by setting precise conditions for contract termination.
Below are various examples of how "Terminating Event" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Terminating Event" in the context of non-performance
This definition ties "Terminating Event" to non-performance by one party.
"Terminating Event" means the failure of either party to perform any material obligation under the agreement, resulting in the termination of the contract.
Definition of "Terminating Event" for breach of contract
This definition connects "Terminating Event" to a breach of contract.
"Terminating Event" refers to any material breach of contract by either party that remains uncured after a specified notice period, triggering the right to terminate the agreement.
Definition of "Terminating Event" for insolvency
This definition links "Terminating Event" to insolvency-related scenarios.
"Terminating Event" means the declaration of bankruptcy or insolvency of either party, which automatically triggers the termination of the agreement.
Definition of "Terminating Event" for regulatory non-compliance
This definition ties "Terminating Event" to failure to comply with regulations.
"Terminating Event" refers to the failure of either party to comply with applicable laws or regulations, leading to the termination of the contract.
Definition of "Terminating Event" for force majeure
This definition connects "Terminating Event" to force majeure circumstances.
"Terminating Event" means an event of force majeure that makes performance under the contract impossible for a prolonged period, resulting in the termination of the agreement.
Definition of "Terminating Event" for mutual consent
This definition links "Terminating Event" to mutual termination by both parties.
"Terminating Event" refers to the mutual agreement of both parties to terminate the contract before the expiration of the term.
Definition of "Terminating Event" for change of control
This definition ties "Terminating Event" to a change of control of a party.
"Terminating Event" means a change of control of either party, which gives the other party the right to terminate the agreement.
Definition of "Terminating Event" for governmental action
This definition connects "Terminating Event" to government actions or orders.
"Terminating Event" refers to any governmental action, such as a law or regulation, that makes performance under the agreement impossible or illegal, leading to its termination.
Definition of "Terminating Event" for failure to meet performance targets
This definition ties "Terminating Event" to unmet performance targets.
"Terminating Event" means the failure to meet predefined performance targets or milestones within the specified time frame, triggering the termination of the agreement.
Definition of "Terminating Event" for death or incapacity
This definition links "Terminating Event" to the death or incapacity of a party.
"Terminating Event" refers to the death, incapacity, or permanent disability of an individual party, which leads to the termination of the agreement.
Definition of "Terminating Event" for expiration of contract
This definition connects "Terminating Event" to the natural expiration of the contract.
"Terminating Event" means the expiration or completion of the contract term, at which point the agreement automatically terminates.
Definition of "Terminating Event" for failure to obtain approvals
This definition ties "Terminating Event" to the failure of obtaining necessary approvals.
"Terminating Event" refers to the failure to obtain necessary regulatory or third-party approvals required for the execution or continuation of the contract, resulting in termination.
Definition of "Terminating Event" for mutual default
This definition links "Terminating Event" to defaults by both parties.
"Terminating Event" means the default of both parties under the terms of the agreement, giving either party the right to terminate the contract.
Definition of "Terminating Event" for material misrepresentation
This definition connects "Terminating Event" to material misrepresentation.
"Terminating Event" refers to a material misrepresentation or fraudulent action by either party that justifies the termination of the agreement.
Definition of "Terminating Event" for failure to make payments
This definition ties "Terminating Event" to payment failures.
"Terminating Event" means the failure by either party to make required payments under the agreement, leading to the termination of the contract.
Definition of "Terminating Event" for legal disputes
This definition connects "Terminating Event" to unresolved legal disputes.
"Terminating Event" refers to the occurrence of a legal dispute between the parties that cannot be resolved within a specified time, resulting in contract termination.
Definition of "Terminating Event" for government shutdowns
This definition links "Terminating Event" to government shutdowns.
"Terminating Event" means a government shutdown or suspension of operations that directly impacts the performance of the contract, resulting in termination.
Definition of "Terminating Event" for loss of key personnel
This definition ties "Terminating Event" to the loss of essential personnel.
"Terminating Event" refers to the loss of key personnel necessary for the performance of the contract, leading to the termination of the agreement.
Definition of "Terminating Event" for intellectual property disputes
This definition connects "Terminating Event" to intellectual property issues.
"Terminating Event" means any intellectual property dispute, including infringement claims, that leads to the termination of the agreement.
Definition of "Terminating Event" for non-delivery of goods or services
This definition links "Terminating Event" to non-delivery issues.
"Terminating Event" refers to the failure of one party to deliver goods or services as agreed under the contract, leading to termination.
Definition of "Terminating Event" for change in market conditions
This definition ties "Terminating Event" to unfavorable market conditions.
"Terminating Event" means a significant change in market conditions that makes performance under the contract economically unfeasible, leading to termination.
Definition of "Terminating Event" for abandonment of project
This definition connects "Terminating Event" to project abandonment.
"Terminating Event" refers to the abandonment or failure to continue the project by either party, resulting in the termination of the contract.
Definition of "Terminating Event" for environmental factors
This definition ties "Terminating Event" to environmental factors.
"Terminating Event" means the occurrence of environmental factors, such as natural disasters, that prevent the continuation of the contract and result in termination.
Definition of "Terminating Event" for merger or acquisition
This definition connects "Terminating Event" to mergers or acquisitions.
"Terminating Event" refers to the occurrence of a merger, acquisition, or sale of either party that triggers the termination of the agreement.
Definition of "Terminating Event" for political instability
This definition ties "Terminating Event" to political instability.
"Terminating Event" means the occurrence of political instability or war that affects the ability of either party to perform the agreement, leading to its termination.
Definition of "Terminating Event" for uncontrollable expenses
This definition links "Terminating Event" to unforeseen financial burdens.
"Terminating Event" refers to the incurrence of significant, uncontrollable expenses that prevent the fulfillment of the contract, triggering termination.
Definition of "Terminating Event" for confidentiality breach
This definition connects "Terminating Event" to confidentiality breaches.
"Terminating Event" means a breach of confidentiality by either party, resulting in the immediate termination of the agreement.
Definition of "Terminating Event" for lack of cooperation
This definition ties "Terminating Event" to lack of cooperation.
"Terminating Event" refers to the inability of the parties to cooperate in good faith, leading to the termination of the contract.
Definition of "Terminating Event" for unsatisfactory audit results
This definition links "Terminating Event" to unsatisfactory audits.
"Terminating Event" means the discovery of unsatisfactory audit results that indicate a serious breach of contractual terms, justifying contract termination.
Definition of "Terminating Event" for safety violations
This definition connects "Terminating Event" to safety concerns.
"Terminating Event" refers to a failure to comply with safety regulations, which leads to the termination of the contract to prevent further violations.
Definition of "Terminating Event" for lack of funding
This definition ties "Terminating Event" to financial failure.
"Terminating Event" means the failure to secure sufficient funding for the performance of the contract, resulting in termination.
Definition of "Terminating Event" for change in law
This definition connects "Terminating Event" to changes in law.
"Terminating Event" refers to any change in applicable laws or regulations that makes the performance of the contract illegal or impossible, resulting in its termination.
Definition of "Terminating Event" for underperformance
This definition ties "Terminating Event" to underperformance by a party.
"Terminating Event" means the failure of a party to meet the performance standards outlined in the agreement, triggering the right to terminate the contract.
Definition of "Terminating Event" for failure to complete milestones
This definition links "Terminating Event" to missed project milestones.
"Terminating Event" refers to the failure to complete agreed-upon milestones within the specified time frame, leading to the termination of the agreement.
Definition of "Terminating Event" for third-party default
This definition ties "Terminating Event" to third-party failure.
"Terminating Event" means the default of any third-party contractor or supplier that impacts the performance of the agreement, resulting in termination.
Definition of "Terminating Event" for financial mismanagement
This definition connects "Terminating Event" to financial mismanagement.
"Terminating Event" refers to the occurrence of financial mismanagement by either party, such as failure to meet financial obligations, leading to termination of the contract.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.