Common use of TERM OF THE FRAMEWORK AGREEMENT Clause in Contracts

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 in delivering the Sheets under the partial contract for more than 4 calendar weeks.

TERM OF THE FRAMEWORK AGREEMENT. The present This Framework Agreement comes into force on the day it is signed becomes valid upon signature by both Parties and taking effect once it is published comes into force upon its publication in the Register of Contracts. This Framework Agreement has been entered into is concluded for a definite fixed period of time, specifically until 31.12. 20264 (words: four) years starting from the date on which it comes into effect. This Framework Agreement shall terminate with the lapse terminate: upon expiration of the agreed-upon term term, for which it was contracted; depletion of the Contractfinancial limit of the Framework Agreement stipulated in article II, para 5 of the Framework Agreement; by a written agreement between the Parties; by a written notice to quit from one of termination by either Partythe Parties; by withdrawal from this the Framework Agreement subject to under the terms and conditions given stipulated below in the event case of a substantial breach hereof of the Framework Agreement by either the other Party. ; The Parties have agreed that substantial breach of the Framework Agreement shall particularly be: A failure to meet non-compliance with the technical specification specifications of the Sheets; delay with the production of ▇▇▇▇▇ design origination and/or Masterhologram compared to the deadlines specified in the Annex 2; Recurringsupplied Goods, recurrent, at minimum second, delay on the part of the Contractor in the delivery of the Sheets Goods according to a partial the individual contract for a period exceeding 7 working (seven) business days; , use of the dandy roll with exclusive watermark in breach of the obligation pursuant to article VII, para. 1 of the Article VII paragraph 6 hereof; Other cases as per this Framework Agreement. In other cases and in the case of any doubt, the respective violation of the Framework Agreement will be considered as immaterial. The legal effects of the withdrawal from this the Framework Agreement shall take effect occur on the day of a delivery of written notice of withdrawal delivery to the other Party. The notice Notice of withdrawal from Framework Agreement must be sent by registered mailpost. Withdrawal from this Framework Agreement does not terminate the contractual relationship from the outset and outset, both Parties shall retain the Parties retain any performance provided for each other up to termination hereofmutual performances obtained till withdrawal from the Framework Agreement. The Parties are entitled to terminate this Framework Agreement at any time, even time without stating a any reason. The termination notice period is 6 months, commencing on (words: six) months and starts running from the first day of the calendar month following after delivery of the written notice of termination to quit to the other Party. The notice to quit must be sent by registered mailpost. The Parties hereby agree acknowledge that for the duration of the termination notice period, they are obliged to fulfil their obligations pursuant hereto shall apply until the end of the notice periodunder this Framework Agreement. Termination Demise of this Framework Agreement shall does not affect the provisions regarding the contractual penalties, damage compensationcompensation of losses, and provisions regarding such rights and obligations which, by their nature, shall persist duties whose nature requires that they prevail even after demise of 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 in delivering the Sheets under the partial contract for more than 4 calendar weeksAgreement.