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(3)Termination of a contract by one party except on the happening of an agreed event requires that reasonable notification be received by the other party and in agreement dispensing with notification is invalid if its operation would be unconscionable.

who can help me anylyse this sentence's structure ?(you can highlight different parts in different colours and add some details)

my answer is:

Termination

(of a contract by one party )

(except on the happening of an agreed event requires that reasonable notification be received by the other party and in agreement dispensing with notification)

is invalid

( if its operation would be unconscionable.)

but..what's the subject of "requires",is it
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Hello Hly2004

Don't write "in" for "an".

Termination of a contract by one party except on the happening of an agreed event requires that reasonable notification be received by the other party and an agreement dispensing with notification is invalid if its operation would be unconscionable.

paco
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That is shocking legal drafting. The second part makes no sense at all.
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Comments  
my another answer is :

Termination

(of a contract by one party )

(except on the happening of an agreed event )

requires that reasonable notification be received

by the other party

and

in agreement dispensing with notification

is invalid ( if its operation would be unconscionable.)
 paco2004's reply was promoted to an answer.
Thank you,Paco
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 Forbes's reply was promoted to an answer.
Dear friends,

I have had experience of legal English. If I may be permitted to say so, I do not think it is a well written contract. It is perhaps not even English. Emotion: smile

Kind regards, Emotion: smile

Goldmund