TERM OF THE FRAMEWORK AGREEMENT Sample Clauses
The 'Term of the Framework Agreement' clause defines the duration for which the agreement remains in effect between the parties. It typically specifies a start date and either a fixed end date or conditions under which the agreement will continue or terminate, such as renewal options or termination triggers. This clause ensures both parties are clear on how long their obligations and rights under the agreement will last, thereby preventing misunderstandings about the agreement's validity period.
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TERM OF THE FRAMEWORK AGREEMENT. This Framework Agreement becomes valid upon signature by both Parties and comes into force upon its publication in the Register of Contracts. This Framework Agreement has been entered into for a definite period of time, namely for a period of 4 years from the date of its entry into force, or until the maximum financial limit agreed in Article II Paragraph 5 hereof has been exhausted, whichever is the earlier. This Framework Agreement shall terminate with the lapse of the agreed term; upon the exhaustion of the maximum financial limit stated in Article II Paragraph 5 hereof; by written agreement of the Parties; by written notice of termination by either Party; by withdrawal from this Framework Agreement subject to the terms given below in the event of a substantial breach hereof by either Party. The Parties agree that they consider the following cases in particular to constitute a substantial breach hereof: a failure to meet technical specification of Goods pursuant to Article II Paragraph 1 hereof or pursuant to Annex No. 1 hereto; repeated, at minimum the second, delay of the Contractor in the delivery of Goods according to partial contracts for a period exceeding 7 business days; use of the Dandy roll with exclusive watermark in breach of the Article VII paragraph 6 of the Framework Agreement. breach of Article X hereof which has not been remedied following a previous notice for correction, breach of obligation under Article VII Paragraph 8 hereof; breach of obligation under Article VII Paragraph 15 hereof. The partial contract shall terminate: if such termination is agreed upon by both of the Parties hereto; by withdrawal of the Client in the case pursuant to Article VIII Paragraph 5 letter (d) hereof; or in the case of a breach of the partial contract by the Contractor in a substantial manner, whereas the Parties consider such a breach of the partial contract in a substantial manner to be in particular the case pursuant to Article XIII Paragraph 4 letters (a), (d), and (e) hereof and the case where the Contractor is in delay with the delivery of Goods according to specific partial contract for more than 2 calendar weeks. The written notice of withdrawal from this Framework Agreement or a specific partial contract shall take effect on the day the written notice of withdrawal is delivered to the other Party. The notice of withdrawal from this Framework Agreement or a specific partial contract must be sent by registered mail. Withdrawal from this Framewor...
TERM OF THE FRAMEWORK AGREEMENT. AMENDMENT AND TERMINATION OF THE FRAMEWORK AGREEMENT UNDER GENERAL TERMS AND CONFITIONS.
TERM OF THE FRAMEWORK AGREEMENT. This framework agreement shall be applicable for all financial restructuring agreements to be signed within 3 years at most following the approval of the BRSA. Taking into account the difficulties that may arise in general or on a case by case basis during implementation in connection with the time-limits prescribed in Articles V, VII, VIII, XIII of this Agreement; The leader bank shall be authorised to extend the time limits upto twofold if deemed necessary and on the condition to notify the CS of the situation. The time limits may be extended up to three times in general at the request of CS and by the consent of the Board of Directors of BAT.
TERM OF THE FRAMEWORK AGREEMENT. 12.1 This Framework Agreements shall commence on the Framework Agreement Commencement Date and shall continue (subject to earlier termination in accordance with Clause 13 herein) for 24 months from the Framework Agreement Commencement Date. At the end of each year GroupM shall have the right to roll-on the Framework Agreement for a further period of 1 year.
12.2 The parties shall review the Fees at the end of each year, any agreed increase or decrease in the rate of the Fees shall be applicable for the following year. In the absence of any agreed variation to the Fees the parties agree that the fees applicable for the previous year shall continue.
TERM OF THE FRAMEWORK AGREEMENT. This Framework Agreement shall be applicable for the FRCs that may be signed within the validity term set forth in Temporary Article 32 of the Banking Law no. 5411 following the approval of the Board.
TERM OF THE FRAMEWORK AGREEMENT. 1. This Framework Agreement comes into force on the day it is signed by both Parties and taking effect on 22th February 2022. If the Framework Agreement will not be published in the Register of Contracts on 22th February 2022 at the latest, it shall take effect on the day of its publication in the Register of Contracts.
2. This Framework Agreement has been entered into for a definite period of time, namely for a period of 4 years from the date of its entry into force, or until the maximum financial limit agreed in Article II Paragraph 8 hereof has been exhausted, whichever is the earlier.
3. The duration of this Framework Agreement under Paragraph 2 of this Article may be prolonged by 1 year and the maximum financial limit agreed in Article II Paragraph 8 may be increased by EUR 2 500 000, i.e. for total time period of 5 years from the date of its entry into force, or until the maximum financial limit EUR 12 500 000 has been exhausted, whichever is the earlier. The Parties agreed that the duration of this Framework Agreement under the previous sentence will be prolonged if the Buyer notifies in writing form its intention to prolong this Framework Agreement in accordance with this Paragraph. The notification according to the previous sentence must be delivered to the Seller no later than 6 months before the original termination of this Framework Agreement.
4. The duration of this Framework Agreement under Paragraph 3 of this Article may be prolonged by 1 more year and the maximum financial limit under Paragraph 3 may be increased by further EUR 2 500 000, i.e. for total time period of 6 years from the date of its entry into force, or until the maximum financial limit EUR 15 000 000 has been exhausted, whichever is the earlier. The Parties agreed that the duration of this Framework Agreement under the previous sentence will be prolonged if the Buyer notifies in writing form its intention to prolong this Framework Agreement in accordance with this Paragraph. The notification according to the previous sentence must be delivered to the Seller no later than 6 months before the original termination of this Framework Agreement in accordance with the Paragraph 3 of this Article. In the event that the duration of this Framework Agreement is not prolonged in accordance with Paragraph 3 of this Article, this Paragraph 4 shall not apply.
5. Each extension as per the above paragraphs 3 and 4 shall be subject to the continued availability of materials and technologies as...
TERM OF THE FRAMEWORK AGREEMENT. The New Framework Agreement will become effective from the date of the agreement to 31 December 2025. Prior to the expiration of the term of the New Framework Agreement, the parties shall submit the Energy Supply Transactions under the New Framework Agreement to the authorities of their respective holding companies, being the Company (in the case of CR Gas Chenzhou) and CR Sanjiu (in the case of CR Sanjiu Chenzhou) for consideration, and the parties shall procure the authorities of their respective holding companies to approve the extension of the term of the New Framework Agreement, each extension shall not exceed three years or such other duration permitted under the applicable laws and regulations, and the relevant extensions of terms are subject to the applicable laws and regulations as well as obtaining the approval of the independent shareholders of the Company (where applicable). The same extension mechanism applies to each and every extended term of the New Framework Agreement. If the parties fail to obtain the above approvals from their respective holding companies, the Framework Agreement shall automatically lapse on the expiry date of the Framework Agreement. In the event that the New Framework Agreement is not extended in accordance with the terms of the New Framework Agreement or that the New Framework Agreement is terminated through no fault of CR Gas Chenzhou, subject to compliance with all relevant rules and regulations by CR Gas Chenzhou and the Company (including the applicable requirements under the Listing Rules), CR Gas Chenzhou shall transfer to CR Sanjiu Chenzhou the construction of the Energy Station constructed pursuant to the New Framework Agreement in accordance with applicable rules governing the transfer of state-owned assets; in addition, subject to compliance with applicable approving procedures, CR Sanjiu Chenzhou shall compensate CR Gas Chenzhou based on the remainder of the term for energy supply as contemplated by the parties. energy consumption under the New Framework Agreement will be as follows:– Electricity: the price of the national electricity grid of Hunan Province of the PRC minus RMB0.02 per kwh. Steam: RMB313.07 per tonne, which is calculated based on the price of steam produced by natural gas boilers per tonne and the price of steam produced by biomass boilers per tonne. The price of steam produced by natural gas boilers is in turn based on the price of industrial natural gas announced by Chenzhou Municipal Dev...
TERM OF THE FRAMEWORK AGREEMENT. The present Framework Agreement comes into force on the day it is signed by both Parties and taking effect once it is published in the Register of Contracts. This Framework Agreement has been entered into for a definite period of time, specifically until 31.12. 2026. This Framework Agreement shall terminate with the lapse of the agreed-upon term of the Contract; by a written agreement between the Parties; by a written notice of termination by either Party; by withdrawal from this Framework Agreement subject to the terms and conditions given below in the event of a substantial breach hereof by either Party. The Parties have agreed that substantial breach of the Framework Agreement shall particularly be: A failure to meet the technical specification of the Sheets; delay with the production of ▇▇▇▇▇ design origination and/or Masterhologram compared to the deadlines specified in the Annex 2; Recurring, at minimum second, delay on the part of the Contractor in the delivery of the Sheets according to a partial contract for a period exceeding 7 working days; breach of the obligation pursuant to the Article VII paragraph 6 hereof; Other cases as per this Framework Agreement. The withdrawal from this Framework Agreement shall take effect on the day of a written notice of withdrawal delivery to the other Party. The notice of withdrawal must be sent by registered mail. Withdrawal from this Framework Agreement does not terminate the contractual relationship from the outset and the Parties retain any performance provided for each other up to termination hereof. The Parties are entitled to terminate this Framework Agreement at any time, even without stating a reason. The notice period is 6 months, commencing on the first day of the calendar month following delivery of the written notice of termination to the other Party. The notice must be sent by registered mail. The Parties hereby agree that their obligations pursuant hereto shall apply until the end of the notice period. Termination of this Framework Agreement shall not affect the provisions regarding contractual penalties, damage compensation, and such rights and obligations which, by their nature, shall persist even after this Framework Agreement is terminated. A partial contract expires: if such termination is agreed upon by both Parties hereto; by the Client’s withdrawal due to a substantial violation of the partial contract by the Contractor, whereas such violation mainly means when the Contractor is in default ...
TERM OF THE FRAMEWORK AGREEMENT. This framework agreement, which is valid from 1 April 1975, and the local agreements approved under this framework agreement may be terminated with the collective agree- ment by giving the notice stipulated therein.
TERM OF THE FRAMEWORK AGREEMENT. 1. This Framework Agreement becomes valid upon signature by both Parties and comes into force upon its publication in the Register of Contracts.
2. This Framework Agreement has been entered into for a definite period of time, namely for a period of 4 years from the date of its entry into force, or until the maximum financial limit agreed in Article II Paragraph 5 hereof has been exhausted, whichever is the earlier.
3. This Framework Agreement shall terminate
a) with the lapse of the agreed term;
b) upon the exhaustion of the maximum financial limit stated in Article II Paragraph 5 hereof;
c) by written agreement of the Parties;
d) by written notice of termination by either Party;
e) by withdrawal from this Framework Agreement subject to the terms given below in the event of a substantial breach hereof by either Party.
4. The Parties agree that they consider the following cases in particular to constitute a substantial breach hereof:
a) a failure to meet technical specification of Goods pursuant to Article II Paragraph 1 hereof or pursuant to Annex No. 1 hereto;
b) repeated, at minimum the second, delay of the Contractor in the delivery of Goods according to partial contracts for a period exceeding 7 business days;
c) use of the Dandy roll with exclusive watermark in breach of the Article VII paragraph 6 of the Framework Agreement.
d) breach of Article X hereof which has not been remedied following a previous notice for correction, e) breach of obligation under Article VII Paragraph 8 hereof;