Common use of Duration of the Framework Agreement Clause in Contracts

Duration of the Framework Agreement. 1. This Framework Agreement comes into force on the day it is signed by both Parties and takes effect on day of its publication in the Register of Contracts. 2. This Framework Agreement is concluded for a definite period of time, namely for period of 11 years from taking effect of the Framework Agreement. 3. This Framework Agreement shall terminate a) with the lapse of the period of time stated in the Paragraph 2 of this Article; b) by written agreement of the Parties; c) by written notice of termination by either Party according to Paragraph 7 of this Article; d) by withdrawal from this Framework Agreement in the cases given in this Framework Agreement or in the event of a substantial breach by either Party. 4. The Parties agree that they consider the following cases in particular to constitute a substantial breach hereof: a) a failure to meet Technical specification of Chips pursuant to Article II Paragraph 1 to 3; b) breach Seller’s obligation under Article II Paragraph 4 to 7 hereof; c) case that Implementation and successful completion of tests/verification shall not be completed within the period 14 days after term pursuant to Article II Paragraph 9 hereof; d) case that Sample SET 3 shall not be delivered and/or approved within the period 14 days after term pursuant to Article II Paragraph 11 hereof; e) case that Productive approval test cards shall not be delivered and/or approved within the period 14 days after term pursuant to Article II Paragraph 12 hereof; f) repeated, at minimum the second, delay of the Seller in the delivery of Chips within the term stated in Article IV Paragraph 2 hereof for a period exceeding 4 weeks; g) the Seller's statements referred to in the Article VI Paragraph 10 hereof prove to be false or the Seller violates the obligation to notify the Buyer of the fact stated in the last sentence of the Article VI Paragraph 10 hereof; h) breach of Article VIII hereof which has not been remedied following a previous notice for correction, i) breach of obligation under Article IX Paragraph 1 hereof;

Duration of the Framework Agreement. 1. This Framework Agreement comes into force on the day it is signed by both Parties and takes effect on day of its publication in the Register of Contracts. 2. This Framework Agreement is concluded for a definite period of time, namely for period of 11 years from taking effect of the Framework Agreement. 3. This Framework Agreement shall terminate a) terminate with the lapse of the period of time stated in the Paragraph 2 of this Article; b) ; by written agreement of the Parties; c) ; by written notice of termination by either Party according to Paragraph 7 of this Article; d) ; by withdrawal from this Framework Agreement in the cases given in this Framework Agreement or in the event of a substantial breach by either Party. 4. The Parties agree that they consider the following cases in particular to constitute a substantial breach hereof: a) : a failure to meet Technical specification of Chips pursuant to Article II Paragraph 1 to 3; b) ; breach Seller’s obligation under Article II Paragraph 4 to 7 hereof; c) ; case that Implementation and successful completion of tests/verification shall not be completed within the period 14 days after term pursuant to Article II Paragraph 9 hereof; d) ; case that Sample SET 3 shall not be delivered and/or approved within the period 14 days after term pursuant to Article II Paragraph 11 hereof; e) ; case that Productive approval test cards shall not be delivered and/or approved within the period 14 days after term pursuant to Article II Paragraph 12 hereof; f) ; repeated, at minimum the second, delay of the Seller in the delivery of Chips within the term stated in Article IV Paragraph 2 hereof for a period exceeding 4 weeks; g) ; the Seller's statements referred to in the Article VI Paragraph 10 hereof prove to be false or the Seller violates the obligation to notify the Buyer of the fact stated in the last sentence of the Article VI Paragraph 10 hereof; h) ; breach of Article VIII hereof which has not been remedied following a previous notice for correction, i) breach of obligation under Article IX Paragraph 1 hereof;; breach of obligation under Article IX Paragraph 2 point c) hereof; breach of obligation under Article IX Paragraph 2 point d) hereof or under Article XIV Paragraph 7 hereof, which has not been remedied despite prior written Seller’s notice; breach of obligation under Article IX Paragraph 3, 5, 6, 7, 8, 9, or 10 hereof; breach of obligation under Article IX Paragraph 12; breach of the Seller's obligations in Article IX Paragraph 13 or 14 or 15 of this Framework Agreement; breach of obligation under Article IX Paragraph 16 hereof. The partial contract shall terminate: if such termination is agreed upon by both of the Parties; By withdrawal of the Buyer in the case of a breach of the partial contract by the Seller in a substantial manner, whereas the Parties consider such a breach of the partial contract in a substantial manner to be in particular the case pursuant to Article XIII Paragraph 4 Point (a), (b), (g), (h), (i), (j), (k), (l), (m), (n) or (o) hereof and the case where the Seller is in delay with the delivery of Chips according to specific partial contract for more than 4 weeks from delivery term stated in the Article IV Paragraph 2 hereof; in other cases stated in this Framework Agreement. The written notice of withdrawal from this Framework Agreement or a specific partial contract shall take effect on the day the written notice of withdrawal is delivered to the other Party. The notice of withdrawal from this Framework Agreement or a specific partial contract must be sent by postal service provider. Withdrawal from this Framework Agreement or from a specific partial contract does not terminate the contractual relationship from the very beginning, the mutual performances provided by the Parties until the termination of this Framework Agreement or a specific partial contract shall be retained by both Parties. The Parties are entitled to terminate this Framework Agreement at any time, without stating any reason. The notice period shall be 12 months and shall begin on the first day of the calendar month following the delivery of written notice of termination to the other Party. The notice must be sent by postal service provider. The Parties take into consideration that they are obliged to fulfil the obligations arising from this Framework Agreement during the notice period. Termination of this Framework Agreement shall not affect the provisions regarding contractual penalties, damage compensation, and such rights and obligations which, by their nature, shall persist even after this Framework Agreement is terminated. This Framework Agreement is also to be applied to the relations, including partial contracts, formed during this Framework Agreement even after this Framework Agreement is terminated.