But Kodak declared bankruptcy last month, and a judge permitted the company to terminate the contract earlier this week.

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If Bank of America matches any competing offer, there is no further right to terminate the contract for a superior proposal, it added.

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If Silver Wheaton chooses to terminate the contract with Barrick over a failure to meet its commitments, it will have a negative impact on its expected silver stream quantity by 2017.

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Fiat may accept cash to terminate the contract.

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The great thing about being able to fire a person or a contractor, or any kind of counterparty is that the option to terminate a contract brings accountability.

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Fernandes, the boss of the Air Asia airline, is also suing Group Lotus for breach of contract over its decision to terminate the licence agreement.

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In that period, employers can terminate the contract without having to offer an explanation.

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"I found the decision of the board of West Ham United to terminate my contract after only four matches disappointing, " he said.

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Ms Shoesmith's latest legal action challenges the legality of this latest "attempt" to terminate her contract of employment.

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Morals clauses are typically worded in such a way as to allow a brand to immediately terminate an endorsement contract, without any penalty, should the athlete endorser act in a certain manner that would tarnish the reputation of the brand.

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