Common use of Term of Contract and Termination Clause in Contracts

Term of Contract and Termination. 10.1 This Frame Capacity Contract shall come into force upon signing by both Parties. 10.2 Any modification and/or amendment to this Frame Capacity Contract shall be notified by the TSO to the System User in due time and by written notice. 10.3 After the expiry of a period of four (4) weeks from the written notice, the modification and/or amendment shall become automatically effective together with the respective capacity products either already booked/assigned or booked/assigned afterwards. 10.4 In case of objection within the abovementioned period by the System User, the Frame Capacity Contract shall remain in force and effect with regard only to the capacity products already contracted and until the expiration of such contracted capacity products. 10.5 Further booking/assignment of capacity products executed by the System User after the 4-week-objection period, shall be automatically subject to the provisions of the modified and/or amended Frame Capacity Contract. 10.6 Both parties have the right to terminate this Frame Capacity Contract as set out in the GTC. In addition, the System User has the right to terminate this Frame Capacity Contract under the condition that no Contracted Capacity products or unpaid invoices are in place. Such termination by the System User shall be notified by the System User to the TSO in writing and with a lead time of at least ten-days (10) from receipt of the written notice by ▇▇▇. The termination fails to apply in case, during the lead time period, the System User acquires further capacity products in accordance with Article 2 of this Frame Capacity Contract or by way of an assignment as described in Article 9. In such event it is deemed that the System User revoked its notice of termination. 10.7 This Frame Capacity Contract is set up electronically and shall be signed by the contracting parties either (a) in two (2) original copies, with each of the contracting parties receiving one (1) original copy or (b) by means of a certified digital signature.