COMMENCEMENT, DURATION AND EXPIRY OF THIS CONTRACT Contract Term and Expiry Clause Samples

This clause defines when the contract begins, how long it will remain in effect, and the conditions under which it will end. It typically specifies the exact start date, the duration of the agreement—such as a fixed term or until a particular event occurs—and any procedures for renewal or extension. By clearly outlining these timeframes, the clause ensures both parties understand their obligations' timeline and helps prevent disputes over when the contract is active or has expired.
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COMMENCEMENT, DURATION AND EXPIRY OF THIS CONTRACT Contract Term and Expiry. 3.1 Subject to Clause 3.2 and to earlier termination in accordance with its terms, this Agreement will commence on the Commencement Date and will expire on the date ten (10) years after the Commencement Date (the "Initial Expiry Date"). For the avoidance of doubt, WEPCo shall not be entitled to any compensation for termination of this Agreement on expiry on the Initial Expiry Date or on the Extended Expiry Date, as the case may be, nor on any extension to this Agreement beyond the Initial Expiry Date. 3.2 The term of this Agreement may be extended for an additional five (5) years after the Initial Expiry Date in the circumstances and in accordance with procedure set out in this Clause 3.2: 3.2.1 twelve (12) months before the Initial Expiry Date the SPB shall meet to review: (a) the performance of the Parties under this Agreement and, in particular, the performance of WEPCo in delivering the Partnering Services to the performance standards set out in Clause 8.1 (Services Obligations); (b) the Education Sector Services and Community Services needs of the population within the Region; and (c) whether it would be beneficial to the provision of all or any of the Education Sector Services and/or Community Services in the Region to extend this Agreement for a further five (5) year period from the Initial Expiry Date; 3.2.2 if WEPCo and one or more of the Participants (the "Continuing Participants") agree that it would be beneficial to the provision of all or any of the Education Sector Services and/or Community Services in the Region to extend this Agreement, the Continuing Participants shall serve a written notice upon WEPCo at least six (6) months before the Initial Expiry Date the effect of which shall be to extend the term of this Agreement by five (5) years from the Initial Expiry Date as between WEPCo and the Continuing Participants. In relation to any Participant who is not a Continuing Participant, this Agreement shall expire on the Initial Expiry Date and nothing in this Clause 3.2.2 shall extend or increase the liability of any such Participants. 3.3 Upon the expiry or earlier termination of this Agreement, the following clauses shall continue to the extent necessary to give effect to the expiry or termination of this Agreement, or, if later (and where applicable to the operation of WEPCo’s Partnering Services related to performance of a Project Service Provider under an operative Project Agreement), shall continue in force until the final D&B Terminati...
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Related to COMMENCEMENT, DURATION AND EXPIRY OF THIS CONTRACT Contract Term and Expiry

  • ASSIGNMENT TERMINATES THIS CONTRACT; AMENDMENTS OF THIS CONTRACT This Contract shall automatically terminate without the payment of any penalty, in the event of its assignment; and this Contract shall not be amended with respect to any Allocated Sleeve unless such amendment be approved at a meeting by the vote, cast in person at a meeting called for the purpose of voting on such approval, of a majority of the Trustees of the related Fund who are not interested persons of such Fund or of the Manager.

  • Term of this Agreement The term of this Agreement shall continue in effect, unless earlier terminated by either party hereto as provided hereunder, for a period of two years. Thereafter, unless otherwise terminated as provided herein, this Agreement shall be renewed automatically for successive one-year periods. This Agreement may be terminated without penalty: (i) by provision of sixty (60) days' written notice; (ii) by mutual agreement of the parties; or (iii) for "cause" (as defined herein) upon the provision of thirty (30) days' advance written notice by the party alleging cause.

  • TERM OF THIS CONTRACT The term of this Contract commences on the Contract Start Date and ends on the earliest of (i) the

  • Termination of this Contract Either party may terminate this contract by a 30-day written notice to the other party. Upon termination, the Purchaser’s liability shall be limited to the services provided by the Provider up to the date of termination. If the Purchaser terminates the contract for reasons other than non-performance by the Provider, the Purchaser may compensate the Provider for an amount determined by mutual agreement of both parties. This contract or any part thereof may be terminated immediately by either party for just cause, including, but not limited to, health and safety issues, fraud, criminal activity, violations of license or certification standards.

  • DURATION, TERMINATION AND AMENDMENT OF THIS AGREEMENT This Agreement shall become effective on the date first above written and shall govern the relations between the parties hereto thereafter, and shall remain in force until December 29, 2002 on which date it will terminate unless its continuance after December 29, 2002 is "specifically approved at least annually" (i) by the vote of a majority of the Trustees of the Trust who are not "interested persons" of the Trust or of the Adviser at a meeting specifically called for the purpose of voting on such approval, and (ii) by the Board of Trustees of the Trust, or by "vote of a majority of the outstanding voting securities" of the Fund. This Agreement may be terminated at any time without the payment of any penalty by the Trustees or by "vote of a majority of the outstanding voting securities" of the Fund, or by the Adviser, in each case on not more than sixty days' nor less than thirty days' written notice to the other party. This Agreement shall automatically terminate in the event of its "assignment". This Agreement may be amended only if such amendment is approved by "vote of a majority of the outstanding voting securities" of the Fund.