Effective Termination Clause Samples
The Effective Termination clause defines the conditions and process by which a contract or agreement can be formally ended before its natural expiration. Typically, this clause outlines the specific events or breaches that trigger termination rights, the required notice period, and any obligations that must be fulfilled upon termination, such as final payments or return of property. Its core practical function is to provide a clear and enforceable mechanism for ending the contractual relationship, thereby reducing uncertainty and protecting the interests of both parties in the event that continuation is no longer viable or desirable.
Effective Termination. 14.1 Upon termination of this Agreement, the obligations of the Licensor hereunder to communicate any further Know-How shall forthwith terminate, the Licensee shall cease all use of the Know-How and the Trade-marks and shall cease the manufacture and marketing of the Product. The Licensee shall be continued to be bound by the provisions of Section 2.6, 5, 7, 8 and 9 of this Agreement.
Effective Termination. In the event of the termination of this Agreement prior to the completion of the term of employment specified in it, for any of the reasons set forth in Article 7, the Employee shall be entitled to the compensation earned prior to the date of termination as provided for in this Agreement, computed pro rata up to and including the date of termination.
Effective Termination. The termination of this Agreement for any reason shall not affect any right or remedy existing hereunder prior to the effective date of termination.
Effective Termination. In the event of the termination of this Agreement prior to the completion of the term of employment specified in it, for any of the reasons set forth in
Effective Termination. In the event of the termination and abandonment --------------------- of this Agreement, (i) by mutual action of the Boards of Directors of Buyer and Seller pursuant to Section 6.1(a); or (ii) by either Buyer or Seller pursuant to Section 6.1, no party shall have any liability hereunder (except pursuant to Section 3.2 and Articles 5 and 7, which shall survive any such termination) unless such failure to consummate or fulfill as a condition is or was within the reasonable control Buyer or Seller, in which case, such party having reasonable control shall continue to be liable hereunder.
Effective Termination. Termination of this Agreement (whether under this clause 16.4, clause 11.2, clause 18.2 or elsewhere in this Agreement) will be:
(a) effective upon a Party giving notice in writing as required by this Agreement, and will not require a court order or completion of any legal or other process;
(b) without prejudice to any other rights or remedies arising prior to the date of termination, or which a Party may have under this Agreement or Applicable Laws; and
(c) subject to those provisions in this Agreement which are stated to continue notwithstanding any expiry or termination of this Agreement.
Effective Termination. If this Agreement is terminated pursuant to the provisions of this Article, all other obligations of the parties hereto shall cease and this Agreement shall be void and without recourse to the parties hereto, except as otherwise expressly set forth in Article IV and Section 6.2 hereof.
Effective Termination. Upon the expiration of this Agreement or its termination in accordance with the terms hereof, the Licensee shall immediately cease any further use of the Trademarks and shall have thirty (30) days from the termination date to cease all current activities relating to the use the Trademarks, including the removal of the elements of the Trademarks in use, and shall abide by the reasonable instructions received from the Licensor with respect to eliminating the Licensee’s use of the Trademarks.
Effective Termination. Section 4.01. This Agreement shall become effective upon it’s execution by the parties hereto.
Section 4.02. This Agreement shall continue in effect until the Grant has been fully disbursed and the parties to this Agreement have fulfilled their obligations hereunder.
Effective Termination. This Agreement shall become effective as of the Effective Date and this Agreement shall terminate and no longer be of force and effect with respect to an Existing Owner upon the occurrence of any of the following events:
(i) a written notice executed by ▇▇▇▇ Opco evidencing its determination to terminate the Agreement; or
(ii) the date the Existing Owners and the entities under their respective control no longer own any Class B Units.