Common use of DURATION/TERM AND CANCELLATION Clause in Contracts

DURATION/TERM AND CANCELLATION. 6.1 Notwithstanding the date of signature hereof, the Commencement Date if this Agreement is ………… and the duration shall be for a one-off period, expiring on last day of the lead-time period offered by the bidder, unless: a) this Agreement is terminated by either Party in accordance with the provisions incorporated herein or in any schedules or annexures appended hereto, or otherwise in accordance with law or equity; or b) this Agreement is extended at Transnet’s option for a further period to be agreed by the Parties. 6.2 Notwithstanding clause 239 [Breach and Termination], either Party may cancel this Agreement without cause by giving 30 [thirty] calendar days prior written notice thereof to the other Party, provided that in such instance, this Agreement will nevertheless be applicable in respect of all Purchase Orders which have been placed prior to the date of such cancellation.

DURATION/TERM AND CANCELLATION. 6.1 Notwithstanding the date of signature hereof, the Commencement Date if of this Agreement is ………… …………. and the duration shall be for a one-off three [3] year period, expiring on last day of …………….., or whichever comes first in the lead-time period offered by event that the biddercontract value is depleted before the expiry date, unless: a) this Agreement is terminated by either Party in accordance with the provisions incorporated herein or in any schedules or annexures appended hereto, or otherwise in accordance with law or equity; or b) this Agreement is extended at Transnet’s option for a further period to be agreed by the Parties. 6.2 Notwithstanding clause 239 22 [Breach and Termination], either Party may cancel this Agreement without cause by giving 30 [thirty] calendar days prior written notice thereof to the other Party, provided that in such instance, this Agreement will nevertheless be applicable in respect of all Purchase Orders which have been placed prior to the date of such cancellation.

DURATION/TERM AND CANCELLATION. 6.1 Notwithstanding the date of signature hereof, the Commencement Date if this Agreement is ………… and 01 January 2022, or should there be any delays in the procurement process, then will be as per the commencement date of the contract in the Letter of Award. The duration shall be for a one-off three (3) year period, expiring on last day of the lead-time period offered by the bidder, unless: a) this Agreement is terminated by either Party in accordance with the provisions incorporated herein or in any schedules or annexures appended hereto, or otherwise in accordance with law or equity; or b) this Agreement is extended at Transnet’s option for a further period to be agreed by the Parties. 6.2 Notwithstanding clause 239 26 [Breach and Termination], either Party may cancel this Agreement without cause by giving 30 [thirty] calendar days prior written notice thereof to the other Party, provided that in such instance, this Agreement will nevertheless be applicable in respect of all Purchase Orders which have been placed prior to the date of such cancellation.