Termination Rights

Termination rights are contractual provisions allowing one or both parties to end the agreement before its scheduled end date under specified conditions. These rights set the procedures, notice requirements, and potential penalties or consequences for ending the contract early. They are designed to provide flexibility, ensuring that parties can exit the arrangement if certain circumstances arise, such as breaches, changes in business needs, or other predefined reasons. Clear termination rights help prevent disputes by defining how and when the contract can be ended, protecting the interests of all involved parties.