Common use of Entry into force and validity Clause in Contracts

Entry into force and validity. 5.1 This Agreement shall take effect from the date of formal signing by both parties. The Original Exclusive Consulting and Services Agreement will automatically terminate when this Agreement comes into effect. Unless explicitly agreed in this Agreement or Party A decides in writing to terminate this Agreement, this Agreement shall be permanently valid. 5.2 If the operating period of either party is expected to expire within the validity of this Agreement, that party shall extend its operating period in time before the expiration of the operating period so as to enable this Agreement to continue to be valid and implemented. If either party’s application for extension of the operating period is not approved or agreed by any competent authority, this Agreement shall terminate upon the expiration of the operating period of that party. 5.3 After the termination of this Agreement, the rights and obligations of both parties under Articles 3, 6 and 7 and this Article 5.3 shall continue to be valid.