Normal Termination Clause Samples
The Normal Termination clause defines the standard process by which an agreement or contract comes to an end upon the completion of its specified term or fulfillment of its obligations. Typically, this clause outlines the required notice period, any final deliverables, and the procedures for winding down the relationship, such as returning confidential information or settling outstanding payments. Its core function is to provide a clear, predictable endpoint for the contractual relationship, ensuring both parties understand how and when their obligations will conclude under normal circumstances.
POPULAR SAMPLE Copied 6 times
Normal Termination. This Agreement shall continue for an indefinite term, subject to the termination by either party upon written notice to the other parties hereto, which shall be effective upon receipt thereof. In addition, Insurer may terminate this Agreement without notice if Broker/Dealer fails to satisfy the Insurer's production requirements, as determined in the sole discretion of the Insurer.
Normal Termination. The contract will deem to be terminated on the last date as given in the agreement provided the extension or renewal is approved by the competent authority on or before the last date and communicated the party in writing and duly accepted. The liability of the party will continue to be payable along with the delayed interest (at the rate mentioned in the contract) till the same is settled. The contractor cannot claim the dues to be time barred or ultra ▇▇▇▇▇ even after the contract is deemed to have terminated by operation of this clause.
Normal Termination. If Optionee’s service as a Consultant ceases, or, except as specified in Sections 2(b) and (c) below, if Optionee’s Continuous Employment ceases, this Option may be exercised, but only to the extent vested on the date of such cessation of Continuous Employment or service as a Consultant, until the earlier of (i) three months after the date upon which Optionee ceases his or her Continuous Employment or service as a Consultant, or (ii) the original ten-year Option term.
Normal Termination. If the Agreement is terminated other than for cause, Investors will pay the Dealer First Year Commissions and Renewal Commission to which the Dealer would have been entitled had this Agreement remained in effect and the rights to all other compensation will terminate.
Normal Termination. If Optionee's Employment is Terminated for any reason other than those enumerated in this Section 3(a)(ii), then the Option shall terminate three (3) months from the date of such Termination of Employment but in no event later than the Expiration Date. During such three month period, the Option shall be exercisable only if the date of Termination of Employment is after the ninth anniversary of the Date of Grant.
Normal Termination. Either party may terminate this Agreement for any reason upon thirty (30) days written notice to the other.
Normal Termination. 1) This Agreement may be terminated [***].
2) Notice of termination shall be given in writing (registered letter, facsimile or any other means of communication that leaves a record of such communication) and addressed to the head office of the Party to receive the notice, or to any other address indicated for that purpose. Such notice is considered served upon dispatch or where communications between the Parties are interrupted upon attempted dispatch.
3) Termination of this Agreement at the end of the Initial Term or any renewal term shall not affect the Parties obligations with respect to the Policies ceded hereunder prior to date of termination, but no additional Policies shall be ceded after the termination date. For the avoidance of doubt, the Reinsurer’s liability hereunder would not extend to any claims incurred after the Agreement termination date because all Policies terminate on 31 December of the Subscription Year and any renewal of a ceded Policy after the Agreement termination date will not be ceded or covered under the Agreement. For the further avoidance of doubt, the Reinsurer shall remain liable for any claims incurred under each such Policy on or prior to 31 December of the Agreement termination year but reported after such 31 December.
4) If the Parties agree to terminate this Agreement on a cut-off basis, the Reinsurer shall be fully and finally released of its liability under this Agreement against payment of its share of any outstanding balances agreed upon by the Parties.
Normal Termination. This Agreement shall automatically renew on the expiration of the initial Employment Term described in Section 2.1(a) without any notice from either party, unless either party gives notice of termination pursuant to Section 2.1(b). Unless this Agreement is terminated pursuant to Section 4.3, the Company's obligation to pay compensation and benefits pursuant to SECTION THREE shall continue during the Employment Term.
Normal Termination. Except as otherwise provided herein, unless terminated earlier as hereinafter provided, and subject to the provisions of Section 8.3 of this Article, this Agreement shall terminate on upon the expiration of the last of the Licensed Patents licensed hereunder.
Normal Termination. This Agreement shall be terminated if the parties mutually agree to terminate the term of Executive's employment or Executive's employment is otherwise terminated in accordance with this Agreement.