Initial Term Renewal and Termination Clause Samples

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Initial Term Renewal and Termination. This Agreement will begin on
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Initial Term Renewal and Termination. The term of this Agreement (“Initial Term”) shall be for a period of three (3) months unless and until sooner terminated as provided herein. Upon expiration of the Initial Term, this Agreement shall automatically renew for three (3) additional successive three (3) month terms unless and until sooner terminated as provided herein (each a “Renewal Term” and together with the Initial Term, the “Term”). If the Term is renewed for any Renewal Terms pursuant to this Section, the terms and conditions of this Agreement during each such Renewal Term shall be the same as the terms and conditions in effect immediately prior to such renewal. If either Party provides timely notice of its intent not to renew this Agreement, then, unless otherwise sooner terminated in accordance with its terms, this Agreement shall terminate on the expiration of the then-current Term. Either Party, in its sole discretion, may terminate this Agreement at any time, without cause, by providing at least thirty (30) days' prior written notice to the other Party. Such termination shall not excuse the parties from any obligation or liability under this Agreement that accrues prior to or upon the effective date of termination, or that expressly survives termination or expiration of this Agreement.
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Initial Term Renewal and Termination. The term of this Agreement (“Term”) shall begin on September 1, 2021 (“Effective Date”) and end on August 31, 2022 (“Expiration Date”) unless earlier terminated by either party in accordance with this Agreement. This Agreement is subject to the approval of the New York State Office of Attorney General (“OAG”) and the New York Office of State Comptroller (“OSC”). In the event that such approval is not obtained prior to the Effective Date indicated above, then this Agreement shall be deemed effective on the date of OSC approval as indicated in the signature block. Any renewal of this Agreement shall be subject to approval by the OAG and OSC. Either party may terminate this Agreement upon sixty (60) days prior written notice to the other for any reason or no reason.
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Initial Term Renewal and Termination. The initial term of the Agreement shall be for one year from the Effective Date. This Agreement shall be renewed automatically each year for another year commencing on the anniversary of the Effective Date unless it is sooner terminated. This Agreement may be terminated either by the Client or by the Manager, by written notice given to the other party hereto, effective thirty (30) days after receipt of such notice. Such termination shall be without the payment of any penalty and without liability of any party to the others, except that the party required to pay compensation under Section 8 shall remain liable for any accrued but unpaid compensation due the Manager as of the date of termination. In addition, the Client may terminate this Agreement without advance notice to the Manager if Client pays a termination fee determined as if the Manager had continued to provide services under this Agreement for a period of thirty (30) days after the termination date. In such case, the termination date shall be the Appraisal Date for purposes of computing the termination fee. Termination by either party shall not have the effect of canceling orders to deposit or invest cash or to purchase or sell securities or other property placed prior to the effectiveness of termination. Termination of this Agreement for any reason shall not relieve the Manager of liability or responsibility under this Agreement with respect to the period prior to the effectiveness of the termination.
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Initial Term Renewal and Termination 
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Related to Initial Term Renewal and Termination

  • Term Renewal and Termination 14.1. This Agreement shall, with respect to the Portfolio, become effective as of the date first above written and shall remain in force for two years thereafter, and for successive annual periods thereafter but only so long as each such continuance is specifically approved at least annually by (1) a majority of the Directors of the Company who are not parties to this Agreement or interested persons of any such parties (other than as Directors of the Company), by vote cast in person at a meeting called for the purpose of voting on such approval; or

  • Renewal and Termination A. This Agreement shall become effective on the date written below and shall continue in effect for one (1) year thereafter, unless sooner terminated as hereinafter provided and shall continue in effect thereafter for periods not exceeding one (1) year so long as such continuation is approved at least annually (i) by a vote of a majority of the outstanding voting securities of the Fund or by a vote of the Board of Trustees of the Trust, and (ii) by a vote of a majority of the Trustees of the Trust who are not parties to the Agreement (other than as Trustees of the Trust) or “interested persons” of any such party, cast in person at a meeting called for the purpose of voting on the Agreement. B. This Agreement: (i) may at any time be terminated without the payment of any penalty either by vote of the Board of Trustees of the Trust or by vote of a majority of the outstanding voting securities of the Fund on sixty (60) days’ written notice to the Adviser; (ii) shall immediately terminate with respect to the Fund in the event of its assignment; and (iii) may be terminated by the Adviser on sixty (60) days’ written notice to the Fund. C. As used in this Paragraph the terms “assignment,” “interested person” and “vote of a majority of the outstanding voting securities” shall have the meanings set forth for such terms in the 1940 Act. D. Any notice under this Agreement shall be given in writing addressed and delivered, or mailed post-paid, to the other party at any office of such party.

  • Agreement Term and Termination This agreement will remain in effect until the expiration or termination of Customer’s Subscription, whichever is earliest. Customer may terminate this agreement at any time by contacting its Reseller. The expiration or termination of this agreement will only terminate Customer’s right to place new orders for additional Products under this agreement.

  • Contract Term and Termination 1. This Contract is concluded for a definite period of time, namely for the period of validity of the appointment of STC an issuer of unique identifiers. 2. During the period of validity of the appointment of STC an issuer of unique identifiers, the Contract may be terminated as follows: a) By a written agreement of the Contracting Parties according to the provision of Section 1981 of the Civil Code, while the Contract termination shall take effect at the moment determined in the agreement; the agreement shall also include an arrangement on settlement of mutual obligations and liabilities; b) By a written notice of withdrawal from the Contract under the terms and conditions determined in the provision of Section 2002 of the Civil Code in the event either Contracting Party breaches the Contract seriously; c) By a written notice of termination of the Ordering Party with a notice period of 3 months if the Issuer announces a change in the terms and conditions specified in the Operating Rules or STC API Specification, within the meaning of Article I (8) hereof; and the Ordering Party does not agree with such a change; d) By a written notice of termination of the Issuer with a notice period of 3 months if, during the negotiations of the Contracting Parties within the meaning of Article V (5) hereof or Article XII (6) hereof, the Contracting Parties reach no agreement concerning a change in the Price or in other terms and conditions hereof within 3 months following the start of such negotiations. 3. The Contracting Parties are entitled to withdraw from the Contract under the terms and conditions determined hereby. A withdrawal shall take effect on the date of delivery of the written notice of withdrawal to the other Contracting Party. All rights and obligations of the Contracting Parties under this Contract shall expire upon the withdrawal from this Contract except for those the nature of which clearly implies that they should continue. However, a withdrawal from the Contract shall not affect the entitlement to compensation for damage caused by a breach of the Contract and of the confidentiality obligation. The Contracting Parties shall keep the performance that they provided to each other before the effect date of the withdrawal from the Contract. 4. The Contracting Parties agree that the following shall be regarded as fundamental breach of Contract: a) Repeated delay of the Issuer of more than 15 days in the handover of UIs more than three times; b) Delay of the Ordering Party of more than 30 days with payment of two or more invoices; c) Bankruptcy is declared for the assets of the other Contracting Party or a proposal of bankruptcy is rejected for insufficient assets, or the other Contracting Party goes bankrupt, becomes insolvent, enters liquidation, negotiates with creditors concerning terms of a debt settlement, or an insolvency administrator, a trustee in bankruptcy, an administrator appointed in favour of creditors continues in the activity of the other Contracting Party, or a step or event occurs that would have (according to the applicable law) an effect similar to any of the steps or events above; In other cases and when in doubt, a breach of the Contract shall not be considered fundamental.

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