Arizona 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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FAQ
A termination clause is a written provision in an agreement that defines the circumstances under which said agreement can be terminated. Termination can happen before the duties outlined in the agreement are fulfilled.
Termination clauses, also sometimes called severance clauses, are written into employment contracts. The clause provides a pre-set agreement on what will happen when the employee is terminated in terms of how much notice they get and/or what sort of payment they will receive.
Termination or exit clauses allow parties to terminate or end an agreement without breaching 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.
Either party may, by giving 60 days notice in advance to the other party, exit from the agreement and the agreement shall stand terminated on expiry of 60th day from receipt of such notice.
The Owner may terminate this contract at any time by giving at least ten (10) days' notice in writing to the Contractor. If the contract is terminated by the Owner as provided herein, the Contractor will be paid for the time provided and expenses incurred up to the termination date.
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.
Clauses that normally survive termination include choice of law, jurisdiction, arbitration or dispute resolution. Limits and exclusions of liability normally survive termination too.