approval of the Department), or is dissolved, or enters into a scheme of arrangement with any class of its creditors, or is placed under official management; or any event or circumstance analogous to the events or circumstances referred to in clauses 15.1(a)(ii) or (iii) occurs under the Laws of any applicable jurisdiction occurs with respect to the Supplier or any of its holding companies. Without limitation, for the purposes of clause 15.1(a), a breach of the following provisions constitutes a material breach of this Agreement: clause 3.3 (Non-OECD Country notification); clause 4.1 (Contracted Quantity); clause 4.2 (Storage Location of Contracted Quantity); clause 4.3 (Compliance with Sanctions); clause 7.2 (Supplier to deliver amount of Contracted Quantity purchased); clause 9 (Compliance with Laws, Subcontracting and Cooperation); clause 11.3 (Notice of Force Majeure); clause 13 (Records and Accounts); clause 14.2 (Costs of replacement stocks); or clause 16 (Confidentiality). The Supplier must notify the Department immediately if any of events or circumstances in clauses 15.1(a)(ii), (iii) or (iv) occur. Suspension of obligation to pay Monthly Fee If: any of the circumstances specified in clause 15.1(a) (ii), (iii) or (iv) and/or the Supplier commits a material breach of this Agreement and the breach remains unremedied, the Department may give the Supplier notice suspending the Department’s obligations to pay the Monthly Fee, but without limiting any rights or obligations of either party. A notice of suspension this clause 15.2 does not limit the Department’s ability to give a notice of termination under clause 15.1 in relation to the same matter at a later date. Where a suspension notice has been served following the occurrence of a material breach by the Supplier (pursuant to clause 15.1(a) or this clause 15.2), the suspension will cease when the breach is remedied to the Department’s reasonable satisfaction.
approval of the Department), or is dissolved, or enters into a scheme of arrangement with any class of its creditors, or is placed under official management; or any event or circumstance analogous to the events or circumstances referred to in clauses 15.1(a)(ii) or (iii) occurs under the Laws of any applicable jurisdiction occurs with respect to the Supplier or any of its holding companies. Without limitation, for the purposes of clause 15.1(a), a breach of the following provisions constitutes a material breach of this Agreement: clause 3.3 (Non-OECD Country notification); clause 4.1 (Contracted Quantity); clause 4.2 (Storage Location of Contracted Quantity); clause 4.3 (Compliance with Sanctions); clause 7.2 (Supplier to deliver amount of Contracted Quantity purchased); clause 9 (Compliance with Laws, Subcontracting and Cooperation); clause 11.3 (Notice of Force Majeure); clause 13 (Records and Accounts); clause 14.2 (Costs of replacement stocks); or clause 16 (Confidentiality). The Supplier must notify the Department immediately if any of events or circumstances in clauses 15.1(a)(ii), (iii) or (iv) occur. Suspension of obligation to pay Monthly Fee If: any of the circumstances specified in clause 15.1(a) (ii), (iii) or (iv) and/or the Supplier commits a material breach of this Agreement and the breach remains unremedied, the Department may give the Supplier notice suspending the Department’s obligations to pay the Monthly Fee, but without limiting any rights or obligations of either party. A notice of suspension this clause 15.2 does not limit the Department’s ability to give a notice of termination under clause 15.1 in relation to the same matter at a later date. Where a suspension notice has been served following the occurrence of a material breach by the Supplier (pursuant to clause 15.1(a) or this clause 15.2), the suspension will cease when the breach is remedied to the Department’s reasonable satisfaction.
oil_stock_ticketing_-_offshore_contract_0.docx