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 ………… […………] year period, expiring on , 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. c) This Agreement shall terminate automatically on the date of depletion of funds allocated to the project. In the event of such termination, the Parties shall incur no further obligation or liability under this Agreement other than for payment of services rendered prior to the expiration of funds. 6.2 Notwithstanding clause 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 the duration shall be for a ………… […………] year period, expiring on , 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. c) This Agreement shall terminate automatically on the date of depletion of funds allocated to the project. In the event of such termination, the Parties shall incur no further obligation or liability under this Agreement other than for payment of services rendered prior to the expiration of funds; or c) this Agreement is extended at Transnet’s option for a further period to be agreed by the Parties. 6.2 Notwithstanding clause 22 23 [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 the duration shall be for a ………… […………] Three (3) year period, expiring on , 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. c) This Agreement shall terminate automatically on the date of depletion of funds allocated to the project. In the event of such termination, the Parties shall incur no further obligation or liability under this Agreement other than for payment of services rendered prior to the expiration of funds.; c) this Agreement is extended at Transnet’s option for a further period to be 6.2 Notwithstanding clause 22 24 [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.