Neptune Shipping Agency Ltd.’s right to adjust rates depending on the outcome of Brexit

 

Neptune Shipping Agency Ltd. (“NSA”) reserves the right to adjust the rates agreed with the Customer if the consequences of Brexit increase the costs of NSA performing its obligations under the contract and/or reduces NSA’s income derived from the contract and/or otherwise adversely affects the benefits NSA derives from the contract (collectively defined as “Adverse Brexit Consequences”). 

 

In the event of such Adverse Brexit Consequences, NSA may, but is not obligated to, request the Customer enter into good faith discussions to resolve the impact(s) of Adverse Brexit Consequences prior to adjusting the rates. If these discussions do not result in a mutually agreeable resolution to the Adverse Brexit Consequences, or if the Customer does not respond to communications to enter such discussions, NSA may terminate the respective agreement for convenience with 30 days’ notice.

 

The above shall be without prejudice to NSA’s rights and obligations under the contract and shall therefore not affect or limit NSA’s access to terminate the contract in accordance with the contract and/or the terms for termination agreed between NSA and the Customer.