Term and Termination of the Clause Samples

The 'Term and Termination' clause defines the duration of an agreement and the conditions under which it may be ended by either party. Typically, this clause specifies the start and end dates of the contract, outlines procedures for renewal, and details the circumstances—such as breach, insolvency, or mutual agreement—that allow for early termination. Its core practical function is to provide both parties with clarity and predictability regarding the lifespan of their contractual relationship and the process for ending it if necessary.
Term and Termination of the. Engagement The term of the engagement hereunder is commencing from October 8, 2007 until December 31, 2007. This agreement may be terminated at any time by either party with or without cause, effective upon written 30 days notice to the other party. However, termination by the Company shall not waive the obligation of the Company to pay the Consultant.
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Term and Termination of the. Rental Agreement 1. The Rental Agreement is concluded for a maximum period of seventy-two (72) hours, and ends when the Contractor returns the OV-bike including the key to the rental location and checks out. 2. In case that the Contractor rents an OV-bike with the OV-fietsslot, the OV-bike must be locked within the designated OV-fiets place at the rental location, when it is handed in, or at the parking place designated by the staff. The rental will only be ended when the OV-bike is locked within the designated place in the rental location. 3. The rental location referred to in the previous paragraph is the location where the OV-bike was taken possession of or another location, if NS OV-fiets has explicitly provided that the OV-bike can be handed in at that location, even though the bike was rented at a different location. A surcharge as set out in the Rates List may be levied for handing in the OV-bike at a different location from the one where it was acquired. With reference to Article 3.7, it is expressly understood that the OV-ebike cannot be returned to a location other than the location from which the OV-ebike was taken by the Contract Holder. 4. If neither the Contractor nor a third party hands in the OV-bike within seventy-two (72) hours after taking possession of it, the Contractor will have to pay NS OV-fiets a surcharge as specified in the Rates List, in addition to the rental. 5. If neither the Contractor nor a third party hands in the OV-bike within 21 days after taking possession of it, the maximum value of the then prevailing purchase value of the OV-bike will be charged to the Contractor. Until this amount has been paid, the Contractor will also owe the rental and surcharges. 6. The provisions of the first sentence of paragraph 4 do not apply in case of force majeure, which will be at the discretion of NS OV-fiets, as a result of which the Contractor is unable to hand in the OV-bike in good time and the Contractor informs NS OV-fiets thereof before expiry of the Rental Agreement. This Article 4.2(2) does not apply to the OV-ebike.
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Term and Termination of the. Second Amendment to Sublease Agreement is hereby deleted in its entirety and replaced by inserting the following in lieu thereof: a. Subject to Section 4(b), the “Term” of this Sublease shall commence on the Effective Date and end on August 31, 2016. b. This Sublease shall terminate on the first to occur of the following: (i) one (1) calendar day before the expiration of the term of the Prime Lease; (ii) the date upon which the Prime Lease is terminated as a result of any provisions of the Prime Lease; or (iii) the date upon which Sublessee’s right to occupancy of the Additional Subleased Premises is terminated pursuant to this Sublease or as provided by law.
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Term and Termination of the. Digital Card Agreement 8.1 The cardholder may terminate the Digital Card Agreement at any time. paybox Bank may terminate the Digital Card Agreement upon 2 months’ notice. 8.2 The card agreement for the Digital Credit Card is deemed to be made for an indefinite period. In any case, it shall end upon termination of the paybox Bank Credit Card Agreement for the physical card, without the need for any separate notice of termination. Upon termination of the card agreement for the Digital Credit Card, however, the card agreement for the physical paybox Bank Credit Card shall remain in force unless it is also terminated. 8.3 For good cause, both paybox Bank and the CH are entitled 8.4 The declaration of termination or cancellation of the Digital Card Agreement must be made on paper or on another durable medium. 8.5 At the end of the Digital Card Agreement, the CH must delete the Digital Card on the mobile device or paybox Bank is entitled to delete the Digital Card.
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Term and Termination of the. Agreement This Agreement shall become effective as of the Order Form Acceptance Date (as defined below) and shall remain in effect until no Order Form is found to be in effect for greater than thirty (30) consecutive days. Termination of this Agreement will not operate to terminate any other Order Form and the terms and conditions of this Agreement will continue in full force and effect to the extent necessary to give effect to any Order Form in effect at the time of termination of this Agreement and until such time as the applicable Order Form expires or is terminated in accordance with Article 4.2 below. 4.2
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Term and Termination of the. Omnibus Agreement allows for extension of the Omnibus Agreement in five (5) year increments by consent of the parties, unless otherwise agreed upon, and;
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Term and Termination of the. AGREEMENT This agreement shall enter into force upon being signed by both Parties and shall be concluded until the deliverable as set out in Annex ./2.1 has been provided in full. Regardless of the fact that the deliverable constitutes a non-recurrent obligation, the agreement – but only the agreement as a whole – can be terminated with effect as at the end of any quarter, giving one month’s written notice by registered letter. This shall not affect the Parties’ right to rescind the agreement without notice for cause by registered letter. The contractual relationship shall be dissolved upon receipt of the justified declaration of rescission of the agreement [or upon expiry of its term pursuant to Clause 9.1] or following notice of termination pursuant to Clause 9.2. Where rescinding the agreement is not justified, the other Party shall be entitled not only to damages, but also to specific performance. In any case, the termination of the agreement – for whatever reason – shall not affect the following regulations and/or mutual rights and obligations: the present section of the agreement; provisions on warranty, damages / liability; general obligations of loyalty, information and protection owed post-contractually; non-disclosure and non-exploitation obligation; provisions on property rights; data protection; and dispute resolution. Termination of the agreement – for whatever reason – shall not be deemed “frustration of performance” within the meaning of section 1168 ABGB. Unless the dissolution of the agreement is attributable to the Principal, the deliverable as delivered and paid for up to the point in time of termination of the agreement, for whatever reason, shall be due to the Principal, along with the contractually granted rights pertaining to it. Furthermore, the University shall, if the agreement is terminated, provide support and assistance to the Principal and/or a third party appointed by the Principal, in particular for the purpose of a smooth and orderly transition of the deliverable (termination event): The University shall – having been instructed to do so by way of a change process – take the actions described below as well as, quite generally, all actions within its sphere of influence that are needed to enable the Principal or a third party or third parties appointed by the Principal to (continue to) independently provide the deliverable or parts thereof. This shall include all necessary and/or expedient declarations and actions by the Uni...
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Term and Termination of the. Agreement is revised to state the following:
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Term and Termination of the. CONTRACT
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Related to Term and Termination of the

  • Term and Termination The term of this Agreement shall commence as of the Effective Date and shall stay in effect until the last to expire issued Valid Claim covering Licensed Products included in the Patent Rights, unless otherwise terminated earlier as provided below in this Article 4 (collectively, the “Term”). a. If LIMR believes in good faith that NewLink has materially breached its obligations under Section 9(a), then LIMR shall, in accordance with the terms of this paragraph 4, have the right and option to reduce NewLink’s exclusive License to a nonexclusive license or revoke the License in its entirety (by terminating the Agreement), provided that prior to taking this action: (1) LIMR shall provide NewLink written notice of the perceived breach, describing in detail the basis for LIMR’s belief that such perceived breach has occurred, describing the preferred method of cure and the proposed action to be taken by LIMR in the event of non-cure; and (2) NewLink shall have ninety (90) days to establish that it has met or will, within such ninety (90) day period, meet the applicable obligations; if the parties are still in dispute as to whether NewLink has met such obligations or cured such breach within ninety (90) days after receipt of notice from LIMR, the dispute will be submitted to binding arbitration in accordance with Section 23(b) of this Agreement, and if such arbitration determines that NewLink materially breached its obligations under Section 9(a) and did not cure such breach, then LIMR shall have the option to terminate this Agreement or to convert the License granted to NewLink in Section 2(a) to a non-exclusive license, in each case, upon prior written notice to NewLink. b. LIMR may terminate this Agreement immediately by providing NewLink written notice of termination, if: (1) NewLink ceases to function as a going concern; (2) a bankruptcy petition or action is filed or taken by or against NewLink under any United States bankruptcy law; (3) a receiver, assignee or other liquidating officer is appointed with control for all or substantially all of the assets of NewLink; or (4) NewLink makes an assignment for the benefit of creditors of all or substantially all its assets; provided, that, in the case of subclauses (b)(2), (3) or (4) above, such aforementioned circumstance is not remedied, dismissed or stayed within the earlier of sixty (60) days of (x) occurrence of (b)(2), (3) or (4) or (y) LIMR’s notice of its intent to terminate this Agreement; Notwithstanding anything in Sections 4(a) or (b) or 23 to the contrary, at any time that LIMR or NewLink believes that the other party has defaulted under this Agreement and that such default will irreparably harm such party, in addition to its rights under this Agreement and at law, such party shall have the right to seek all applicable equitable remedies. c. If NewLink fails to make any payment whatsoever due and payable to LIMR hereunder, LIMR shall have the right to terminate this Agreement effective on ninety (90) days written notice, unless NewLink shall make all such payments to LIMR within said ninety (90) day period, and provided that the payments demanded by LIMR are not disputed by NewLink. In the event of a dispute of such payments by NewLink, the parties shall use good faith efforts to resolve the dispute, which if not resolved by the end of four (4) months either party may submit the dispute to binding arbitration pursuant to Section 23(b). Any disputed payments submitted to arbitration hereunder be paid into escrow the arbitrator or other independent escrow agent acceptable to both parties in their reasonable discretion unless and until determined due by the arbitrator under Section 23(b), provided, however that if the arbitrator determines that amounts are payable by NewLink to LIMR, then such outstanding amounts will bear interest back to the date that they originally accrued at the default rate of Prime plus 4%. Prime shall be the prime rate published by the Wall Street Journal or if the Wall Street Journal publishes more than one prime rate, then the average of the prime rates published by the Wall Street Journal, and if the Wall Street Journal does not publish a prime rate, then the prime rate of the largest bank in Philadelphia, Pennsylvania. d. NewLink shall have the right to terminate this Agreement at any time on ninety (90) days prior written notice to LIMR, provided that NewLink shall remain obligated to complete payment of all amounts that have accrued and are owed to LIMR through the effective date of the termination. In the event NewLink terminates the Agreement, the license granted hereunder shall be deemed terminated, and all rights with respect to the subject matter thereof revert to LIMR and all further obligations of NewLink to LIMR (except for obligations accrued prior to such termination) shall automatically be terminated. e. Upon expiration or termination of this Agreement for any reason, nothing herein shall be construed to release either party from any obligation that has accrued prior to the effective date of such termination. NewLink and any Sublicensee thereof may, however, after the effective date of such termination, sell all then existing Licensed Products, and complete Licensed Products in the process of manufacture at the time of such termination and sell the same, provided that NewLink shall make the payments to LIMR as required by Articles 8 & 9 of this Agreement and shall submit the reports as required by Article 11 hereof. f. Sections 4(e), 4(f), 7(b) (but solely with respect to sales made pursuant to Section 4(e)), 11, 12, 13 (solely for the period specified therein), 14, 18, 19, 20, 21 and 23 shall survive termination or expiration of this Agreement.

  • Term and Termination of the Agreement 9.1. The Agreement shall enter into force upon its signing by the Parties and shall remain in full force and effect until the Parties have fully and properly fulfilled their obligations (including, unequivocally in the case the term of any other agreement associated with the Agreement exceeds the term of the Agreement). 9.2. In the cases and under the conditions stipulated by the Agreement and/or Legislation, it is possible to terminate the Agreement before expiration of its term in whole or in part:

  • Term and Termination of Agreement This Agreement shall terminate upon the earlier of termination of the Advisory Agreement or on expiration of the Expense Limit Period. The obligation of the Adviser under Section 1 of this Agreement and of the Trust under Section 2 of this Agreement shall survive the termination of the Agreement solely as to expenses and obligations incurred prior to the date of such termination.

  • Term and Termination of this Agreement The term of employment of -------------------------------------- Executive (the "Term") pursuant to this Agreement shall commence on the date hereof and shall continue for a term of five (5) years from the date hereof (the "Term"). (a) Executive's employment hereunder shall be terminated during the Term upon the death or Disability of Executive. (b) Executive's employment hereunder may be terminated during the Term by the Company (i) with Cause at any time, and (ii) without Cause upon thirty (30) days written notice to Executive, provided that Executive shall immediately cease the performance of his duties hereunder if the Company shall so request following the date of such notice. In the event Executive's employment is terminated without Cause, the Company shall pay to Executive, as severance pay hereunder, an amount equal to the annual Base Salary paid to Executive at the Effective Date of Termination, which amount shall be paid in twelve (12) substantially equal monthly installments (less such deductions and withholdings as are required by law or the policies of the Company) commencing with the first day of the calendar month next following. (c) Upon termination of Executive's employment hereunder pursuant to subsection 4(a) or for Cause pursuant to subsection 4(b), or upon voluntary termination by Executive of Executive's employment hereunder, the Company shall have no further obligation to Executive or his personal representative with respect to remuneration due under this Agreement, except for Base Salary earned but unpaid at the Effective Date of Termination and, in the case of termination of employment under subsection 4(a), a pro rata portion (based on the number of days of the fiscal year of the Company in which such termination occurred during which this Agreement was in effect) of the bonus, if any, payable under Section 3(b) with respect to such fiscal year. Payment of such bonus, if any, shall be made at such time as similar bonuses are paid to other executives of the Company with respect to such fiscal year. (d) If Executive's employment hereunder is terminated during the Term by the Company without Cause pursuant to subsection 4(b), the Company shall have no obligation to Employee with respect to renumeration due under this Agreement or such termination other than (i) Base Salary earned but unpaid at the Effective Date of Termination, and (ii) a pro rata portion (based on the number of days of the fiscal year of the Company in which the Effective Date of Termination occurred during which this Agreement was in effect) of the bonus, if any, payable under Section 3(b) with respect to such fiscal year, and (iii) the severance pay described in subsection 4(b). Payment pursuant to clause (ii) of the preceding sentence shall be made when such bonuses are paid to other executive officers receiving bonus payments with respect to such fiscal year. (e) Notwithstanding anything to the contrary expressed or implied herein, the covenants and agreements of Executive in Sections 5 and 6 of this Agreement shall survive the termination of Executive's employment hereunder.

  • Duration and Termination This Agreement shall become effective with respect to each Fund as of the corresponding effective date indicated in Appendix A and, unless sooner terminated with respect to a Fund as provided herein, shall continue in effect for a period of two years as to such Fund. Thereafter, if not terminated, this Agreement shall continue in effect with respect to the Fund for successive periods of 12 months, provided such continuance is specifically approved at least annually by both (a) the vote of a majority of the Trust’s Board of Trustees or the vote of a majority of the outstanding voting securities of the Fund at the time outstanding and entitled to vote, and (b) the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval. Notwithstanding the foregoing, this Agreement may be terminated by the Trust at any time as to a Fund, without the payment of any penalty, upon giving the Advisor 60 days’ notice (which notice may be waived by the Advisor), provided that such termination by the Trust shall be directed or approved (x) by the vote of a majority of the Trustees of the Trust in office at the time or by the vote of the holders of a majority of the voting securities of the Fund at the time outstanding and entitled to vote, or (y) by the Advisor on 60 days’ written notice (which notice may be waived by the Trust). This Agreement will also immediately terminate in the event of its assignment. (As used in this Agreement, the terms “majority of the outstanding voting securities,” “interested person” and “assignment” shall have the same meanings of such terms in the 1940 Act.)