17.1
ARTICLE 17
TERMINATION
The Client shall be entitled to terminate this Contract at any time upon giving written notice to such effect to CGWIC; such right will not be exercised arbitrarily and without good reason and, in particular, the Client's use of another launch service provider shall not be considered good reason unless there has been a failure by CGWIC to perform its obligations. Termination shall take effect immediately upon receipt of such notice by CGWIC.
(a) If the Client terminates this Contract for any reason other than a cause described in Sub- paragraph 17.1 (b) or Paragraph 17.2 below, then CGWIC shall refund to the Client the relevant percentage of the amounts paid by the Client before the date of termination (other than any amount paid or payable in respect of any Optional Service which has been performed), as indicated in the following table:
Date of Termination
On or before L-12 months
After L-12 months but before
L-8 months
Refund Percentage
70%
60%
After L-8 months but before
L-4 months
After L-4 months
40%
30%
where "L" refers to the first day of the Launch Slot, if fixed, or the Launch Period if the Launch Slot has not yet been fixed.
The remainder of all amounts paid by the Client before the date of termination by the Client shall be forfeited to CGWIC. All amounts remaining unpaid but due to be paid on or before the effective date of termination, less the relevant percentage indicated in the above table, must be paid to CGWIC
All according to the provisions of this Contract. other amounts shall cease to be due upon termination and CGWIC shall have no right to any further compensation for termination of this Contract.
36
妆
of
No comments yet.
Private notes are available after approval.