Termination Clauses

Summary

The termination clauses in this template may be used to terminate a commercial contract for breach of contract, bankruptcy, convenience, change of control, and termination subject to designated limitations and obligations. This template includes practical guidance and drafting notes. It is prudent to include a termination clause in a contract. The termination clause may spell out specific acts or omissions that warrant termination, or it may simply make any uncured breach a cause of termination. For a full listing of key content covering merger and acquisition (M & A) transactions in the energy field, see Energy M & A Resource Kit. For more information regarding termination rights, see Termination and Cancellation Rights. For non-jurisdictional term clauses, general termination clauses (including termination for change of control, at-will, etc.), or a non-jurisdictional combined term and termination clause, see Term Clauses and Term and Termination Clause, respectively. For a termination on bankruptcy clause, see Ipso Facto Clause.