Common use of Period of Duration Clause in Contracts

Period of Duration. This Memorandum of Understanding comes into effect on the date of signature by both Parties and will remain in force for a period of 5 years. Either Party, at its discretion, may terminate this Memorandum during its validity period by giving written notice of at least six (6) months in advance of the intended termination date. Otherwise, the Memorandum of Understanding will automatically be extended for a further 5 years.

Period of Duration. This Memorandum of Understanding comes into effect on the date of signature by both Parties and will remain in force for a period of 5 ……. years. Either Party, at its discretion, may terminate this Memorandum during its validity period term by giving written notice of at least six 6 (6six) months in advance of the intended termination date. Otherwise, the Memorandum of Understanding will automatically be extended for a further 5 …… years.

Period of Duration. This Memorandum of Understanding comes ofUnderstanding coınes into effect on the date of signature ofsignature by both Parties and will remain in force for a period of 5 years. Either Party, at its discretion, may terminate terıninate this Memorandum during its validity period by giving written notice of at ofat least six (6) months in advance of the intended termination date. Otherwise, the Memorandum of Understanding will automatically be extended for a further 5 years.

Period of Duration. This Memorandum of Understanding comes into effect on the date of signature by both Parties and will remain in force for a period of 5 years. • Either Party, at its discretion, may terminate this Memorandum during During its validity period by giving written notice of at least six (6) months in advance of the intended termination date. Otherwise, the Memorandum of Understanding will automatically be extended for a further 5 years.