Common use of DURATION OF THIS CONTRACT Clause in Contracts

DURATION OF THIS CONTRACT. The initial term of this contract shall be fixed for of 5-years (“Initial Term”) and will continue yearly thereafter until terminated by either party on giving no less than forty-two days written notice delivered by registered post. Such notice to terminate at the end of the Initial Term or at the end of any following year but not otherwise. Notwithstanding the previous sentence, swcomms shall be entitled to terminate this Contract if the Customer has committed any breach of this Contract and has not remedied such breach with 14-days notice to that effect from swcomms. If the Customer purports to terminate the Contract during the Initial Term or subsequent yearly renewal the charges shall nevertheless continue to be payable as if the Contract had continued up until the end of the Initial Term or yearly thereafter. This charge can be aggregated with payment due in full on presentation of an invoice to the Customer. It is intended that the charges applicable to this agreement shall be fixed for the Initial Term.