Common use of Term and Access Rights Clause in Contracts

Term and Access Rights. The Term shall begin on January 1st, 2021 (the “Commencement Date”). A Member may opt out of this License Agreement due to material financial hardship by giving Licensor written notice of termination (including the reasons for opting-out) 6 weeks prior to the end of any year of the Term, effective as of the end of the current year of the Term. Such Members’ License Fees will be deducted from the total annual License Fees under this License Agreement effective as of beginning of the following year of the Term. In the event a Member does not terminate as set forth above, all payment obligations of such Licensee will remain in effect. For the avoidance of doubt, any such opt-out shall not affect any rights and obligations of the parties prior to the opt-out. This clause takes precedence over 10.2.6 Early Termination by a Member, in the Springer Nature Canada Consortium Terms and Conditions. For Access Only and Perpetual Access Licenses, the Term shall end on December 31st, 2024. For Perpetual Access Licenses, Member(s) shall have Perpetual Access after expiration of the Term, subject to all terms and conditions of this License Agreement.