Common use of Project Modification Clause in Contracts

Project Modification. Party A may modify the contents of this project when it considers it necessary. However, the research progress and research funding shall be reasonably adjusted by agreement between the Parties. Should the agreement terminated, either party has the right to notify the other party in writing to terminate this contract without being liable for any damages. In this case, Party A shall not require Party B to return the research funding it has used. Within 15 days after the termination of the project, the unused part of the research funds remitted by Party A shall be returned without interest.

Appears in 2 contracts

Sources: Industry Academia Cooperation Agreement, Industry Academia Cooperation Agreement