This Agreement may be terminated by either Party in the event of breach by the other Party of its obligations hereunder and the failure of the said defaulting Party to cure the said breach within the thirty (30) day subsequent to the written request to remedy such breach has been made to the defaulting Party.
7.2 This Agreement may be terminated by the Parties by a thirty (30) day prior written notice in the event of the any reason of impossibility or inability in carrying out its obligations pursuant to this Agreement for a consecutive period of thirty (30) days.
7.3 This Agreement may be immediately terminated by either Party in the event that the other Party becomes insolvent, breaches Clause 6, makes an assignment for the benefit of creditors or becomes involved in receivership, bankruptcy or debt relief proceedings or any similar proceedings, or ceases its business, or is generally unable to meet its obligations.
7.4 This Agreement may be terminated by the Parties by providing a thirty (30) day prior written notice in the event that any of the representation or warranties of a Party becomes untrue, false, inaccurate or misleading.
7.5 In the event of Force Majeure (as defined in Clause 15), or any other cause beyond the reasonable control of the Vendor, CHEIL shall have the option of electing to terminate. In such case, the Vendor shall refund to CHEIL, fees already collected for the amount covering unfinished part of the Job.
7.6 The termination or expiration of this Agreement shall in no way affect any rights or obligations incurred by any Party prior to such termination or expiration.