Term of MSP Operating Agreement Sample Clauses

The 'Term of MSP Operating Agreement' clause defines the duration for which the managed service provider (MSP) agreement remains in effect between the parties. Typically, this clause specifies the start date and either a fixed end date or the conditions under which the agreement will automatically renew or terminate. For example, it may state that the agreement lasts for one year and renews annually unless either party provides notice of non-renewal. The core function of this clause is to establish clear expectations regarding the length of the business relationship and to provide a framework for renewal or termination, thereby reducing uncertainty for both parties.
Term of MSP Operating Agreement. MSP Operating Agreements are au- thorized for 20 years, starting on Octo- ber 1, 2005, and ending on September 30, 2025, but payments to Contractors are subject to annual appropriations each fiscal year. MARAD may enter into MSP Operating Agreements for a pe- riod less than the full term authorized under the MSA 2003, as amended.
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Related to Term of MSP Operating Agreement

  • AMENDING OPERATING AGREEMENT This Agreement may only be amended by an affirmative vote or consent of all Members.

  • Term of Master Agreement Section 10.1 is replaced in its entirety, as follows:

  • Operating Agreement You have received and read a copy of the Company’s Operating Agreement (the “Operating Agreement”) and agree that your execution of this Subscription Agreement constitutes your consent to the Operating Agreement, and that upon acceptance of this Subscription Agreement by the Company, you will become a member of the Company as a holder of Class A Units. When this Subscription Agreement is countersigned by the Company, the Operating Agreement shall be binding upon acceptance of your subscription.

  • TERM OF FRAMEWORK AGREEMENT The Framework Agreement shall take effect on the Commencement Date and (unless it is otherwise terminated in accordance with the terms of this Framework Agreement or it is otherwise lawfully terminated) shall terminate at the end of the Term.

  • Term of Agreement; Amendment This Agreement shall become effective as of the date first written above and will continue in effect for a period of three (3) years. This Agreement may be terminated by either party upon giving 90 days prior written notice to the other party or such shorter period as is mutually agreed upon by the parties. Notwithstanding the foregoing, this Agreement may be terminated by any party upon the breach of the other party of any material term of this Agreement if such breach is not cured within 15 days of notice of such breach to the breaching party. This Agreement may not be amended or modified in any manner except by written agreement executed by USBFS and the Trust, and authorized or approved by the Board of Trustees.