Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.
Term and Termination 13.1 This Agreement shall be valid and enforceable from the date of this Agreement unless and until the occurrence of any of the following events:
(a) either Party serves to the other Party at least 14 (fourteen) days’ prior written notice declaring its/his intention to terminate this Agreement;
(b) a Party may terminate this Agreement by serving a written notice to the other Party:
(i) if the defaulting Party breaches or has breached any provision of this Agreement, Terms & Conditions, violates or fails to comply with any Applicable Law or rules of the Source of Fund, and such breach has not been remedied within 7 (seven) days from the date of receipt of such notice.
(ii) if a Party becomes insolvent, winding up, under any receivership order, bankrupt, business rehabilitation process, enter into any arrangement with its/his creditor(s); or
(iii) there is any claim or suspension notice in relation to the Account given through Opn Payments by the Source of Fund or the Authority.
13.2 Opn Payments shall cease providing the Service to the Merchant and reserves its right to block the withdrawal or transfer function of the Merchant’s Account. The Merchant agrees that:
(a) in case there is any Balance remaining in the Account after the effective date of termination, such remaining Balance may be, at its sole discretion of Opn Payments, safekept in the Account for up to 12 (twelve) months from the date of the last transaction and Opn Payments has the right to offset the Balance with any refund, Dispute, reversed payment or any other costs and expenses arising due to the Transaction Amount after termination;
(b) in case the remaining Balance under Clause 13.2(a) is insufficient or there is no Balance remained in the Account, the Merchant shall, within 3 (three) Business Days, transfer the amount requested by Opn Payments to further handle with the any refund, Dispute, reversed payment or any other costs and expenses arising due to the Transaction Amount after termination.
13.3 The Merchant shall cease to use the other Party’s intellectual property or any other proprietary rights after the effective date of termination.
13.4 Termination under this Agreement shall not affect the right of either Party accruing prior to the date of termination. In the event that the termination of this Agreement is caused by the failure or breach of this Agreement of a Party, the non-defaulting Party shall be entitled to claim against the defaulting Party.
13.5 The obligations under Clause 2.4, 3.7, 3.8, 3.9(a), 3.9(b), 4, 5, 7, 10, 11 and 13 shall survive termination.