Formation and Duration Clause Samples
The 'Formation and Duration' clause defines when a contract becomes legally binding and how long it remains in effect. Typically, this clause specifies the conditions that must be met for the agreement to commence, such as the date of signature or fulfillment of certain prerequisites, and outlines the period during which the contract's terms apply, which may be a fixed term or continue until terminated by one of the parties. Its core practical function is to provide clarity on the contract's lifecycle, ensuring both parties understand when their obligations begin and end, thereby reducing the risk of disputes over timing.
Formation and Duration. No later than ten (10) days after Proof of Concept is established, Achillion and Gilead shall establish the Development Committee (“Development Committee”). Except to the extent otherwise provided by mutual written agreement of the Parties, the Development Committee shall disband at the end of the Development Program Term.
Formation and Duration. Within ten (10) days after the Effective Date, Achillion and Gilead shall establish the Research Committee (“Research Committee”). Except to the extent otherwise provided by mutual written agreement of the Parties, the Research Committee shall disband upon the later of Proof of Concept or expiration of the Research Program Term.
Formation and Duration. 9 2.2. Name . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 2.3. Principal Office, Registered Office and Registered Agent . . . 10 2.4.
Formation and Duration. The Company was formed under the Act effective upon the filing of the Certificate with the Secretary of State of Delaware and shall continue until dissolved pursuant to Article XI. The Members shall, to the extent required by law, and otherwise the Management Board or authorized officers of the Company shall, execute all amendments to the Certificate and do all filing, recording and other acts as may be appropriate under the Act. The Members hereby adopt this Agreement as the limited liability company agreement of the Company.
Formation and Duration. Within ninety (90) days after the Effective Date, the Parties shall establish a “Technical Advisory Committee” for the purposes set forth in Section 2.5(b) and with a composition specified by Section 2.5(d), and within thirty (30) days after the Effective Date the Parties shall establish a “Budget Advisory Committee” for the purposes set forth in Section 2.5(c) and with a composition specified by Section 2.5(d) (collectively the “Advisory Committees”). Except to the extent otherwise provided by mutual written agreement of the Parties, the Advisory Committees shall not disband until the earlier of the termination or expiration of this Agreement or the expenditure by O2Diesel Europe of all of the Investment together with any future investment or other input of operating capital to O2Diesel or O2Diesel Europe by ABRD or any of its Affiliates, including but not limited to ABRD’s exercise of warrants as contemplated by that certain Stock Purchase Agreement executed by the Parties and dated October 28, 2005.
Formation and Duration. No later than thirty (30) days after the Effective Date, the Parties shall establish a Joint Development Committee ("JDC").
Formation and Duration. The Partnership was formed upon the filing for record of the Certificate of Limited Partnership.20 [add any additional conditions precedent to the formation of the Partnership] The Partnership will be dissolved and wound up at the time and in the manner provided for in Article 8.21
Formation and Duration. The place of formation of this MoU is to be considered Siena (Italy), where all the signed copies are to be delivered. The MoU will become effective upon signature by all parties, on the day of the last signature. It will remain in effect until December 31 2010.
Formation and Duration. The Partnership was formed upon the filing for record of the Certificate of Limited Partnership.20 [add any additional conditions precedent to the formation of the Partnership] The Partnership will be dissolved and wound up at the time and in the manner provided for in Article 8.21 19 RULPA addresses the requirements for a registered domestic office and agent; see RULPA §17-104. See also 13 CFR §107.680 regarding actions which require SBA approval, but not prior approval.
Formation and Duration. Within thirty (30) days after the Effective Date, the Parties shall establish a joint development committee (the “JDC”). Licensor shall appoint one (1) representative and Licensee will appoint two (2) representatives to the JDC. Each Party may replace its JDC representative(s) upon written notice to the other Party. The JDC will terminate upon the Payment Cap being reached.