Termination or Extension Sample Clauses
The 'Termination or Extension' clause defines the conditions under which a contract may be ended before its scheduled completion or prolonged beyond its original term. Typically, this clause outlines the procedures for either party to initiate termination, such as providing written notice within a specified timeframe, or to agree on an extension, often requiring mutual consent and possibly renegotiation of terms. Its core function is to provide flexibility and certainty for both parties, allowing them to adapt to changing circumstances or unforeseen events by formally ending or continuing their contractual relationship as needed.
Termination or Extension. 7.1 This Agreement shall terminate on December 31, 1997, unless earlier terminated or extended for an additional one (1) year period by mutual written Agreement of the Parties. It is however understood that if Parties intend to extend this Agreement under the same terms and conditions as set forth herein such extension decision shall be agreed upon in writing no later than ninety (90) days before the aforementioned termination date.
7.2 If the Parties decide to modify terms and conditions of this Agreement, prior to its termination in order to effectuate an extension and/or renewal of this Agreement, seventy-five (75) days prior to the termination date of this Agreement, the Parties shall mutually consent in writing to extensions of this Agreement. The terms and conditions of such extensions are to be negotiated and agreed upon by the Parties within forty-five days (45) of such mutual consent, but in no event later than seventy-five (75) days after the such mutual consent.
7.3 Either SANOFI or CTRC may terminate this Agreement by notice in writing to the other if the other commits a material breach of this Agreement which, in the case of a breach capable of remedy, shall not have been remedied within thirty (30) days of the receipt by the other of notice identifying the breach and requiring its remedy.
7.4 If CTRC suffers a substantial inability to perform its obligations under this Agreement, the Parties will meet in good faith to determine if such deficiencies can be corrected in a reasonable period of time. If no reasonable correction is available, then SANOFI will have the right, upon three (3) months notice to terminate this Agreement. The Parties will, in good faith, decide if termination can be accomplished sooner, in a manner which will not disrupt CTRC's future business.
7.5 In the event of termination of this Agreement, the rights and obligations of the Parties which have accrued up to such time shall survive and remain enforceable, including, but not limited to Articles IV, V, VI, VIII of this Agreement.
Termination or Extension. This Agreement shall terminate upon the earlier of (i) three (3) years after the date hereof (Term), subject to automatic renewal as provided in Section 3.02; (ii) the (A) sale of more than fifty percent of the voting stock in the Company, or (B) the sale of all or substantially all of the assets of the Company, to a Person (as defined below)
Termination or Extension. 17 ARTICLE VIII--INVENTIONS AND PATENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 ARTICLE IX--WARRANTIES AND INDEMNIFICATIONS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 ARTICLE X--INDEPENDENT CONTRACTOR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ARTICLE M--ASSIGNMENT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ARTICLE XIII--GOVERNING LAW AND ARBITRATION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 ARTICLE XIV--NOTICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 ARTICLE XIV--MISCELLANEOUS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Termination or Extension. (a) This Agreement will terminate if
(i) CANCERVAC gives [ * ] prior notice in writing of such termination to CT; or
(ii) Either Party reasonably determines that the Project is not scientifically or ethically viable; or
(iii) CT gives [ * ] prior notice in writing of such termination to CANCERVAC.
(b) CANCERVAC may immediately terminate this Agreement by giving written notice to CT if CT:
(i) commits a breach of any of the provisions of this Agreement which is incapable of being remedied to the reasonable satisfaction of CANCERVAC;
(ii) for any reason whatsoever becomes incapable, in the reasonable opinion of CANCERVAC, from performing its obligations under this Agreement;
(iii) fails to remedy, to the reasonable satisfaction of CANCERVAC, a breach or default of any of the provisions of this Agreement which is, in the opinion of CANCERVAC, capable of being remedied, within [ * ] of receiving a notice from CANCERVAC of that breach or default; or
(iv) is the subject of an Insolvency Event.
(c) CT may immediately terminate this Agreement by giving written notice to CANCERVAC if CANCERVAC:
(i) commits a breach of any of the provisions of this Agreement which is incapable of being remedied to the reasonable satisfaction of CT;
(ii) fails to remedy, to the reasonable satisfaction of CT a breach or default of any of the provisions of this Agreement which is, in the [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. opinion of CT, capable of being remedied, within [ * ] of receiving a notice from CT of that breach or default; or
(iii) is the subject of an Insolvency Event.
(d) A Party is not liable for any failure or delay in performance of any obligations under this Agreement, including (but not limited to) Loss of Material, if all of the following conditions are satisfied:
(i) the failure or delay arose from Force Majeure; and
(ii) the Party took all reasonable precautions against that Force Majeure and did its best to limit its consequences. This does not require the Party to settle a labour dispute if, in the Party’s opinion, that is not in its best interests; and
(iii) the Party gave the other Parties notice of the Force Majeure as soon as practicable after becoming aware of it.
(e) If the Force Majeure and the resulting failure or delay lasts for more than [ * ] then...
Termination or Extension. (a) This Agreement shall terminate in any event upon the earlier of (i) three (3) years after the date hereof; (ii) the sale of the Company to an outside third party; (iii) a merger with other company or a third party which will own more than 35% of the combined business; (iv) the Beneficiaries own less than 19% of the non-diluted shares of the Company; (v) J.T. Lin is not an Employee, Officer ▇▇ ▇▇▇▇ctor of the Company; (vi) the expiration of the maximum permitted term of voting trusts under the Delaware Business Corporation Law (such period defined as the "Term"); provided, however, that this Agreement will be automatically renewed thereafter on the same terms and conditions for successive Terms with respect to each Beneficiary unless the Beneficiary gives written notice to the Trustee of its desire not to consent to such renewal, which notice shall be delivered to the Trustee not earlier than one (1) year, and not later than sixty (60) days, prior to the end of the Term then in effect.
(b) In the event of such extension, the Trustee shall, prior to the expiration as hereinabove provided, as originally fixed, or as theretofore extended, as the case may be, file in the principal executive office of the Company a copy of an agreement extending the expiration date of this Agreement and thereupon the duration of this Agreement shall be extended for the period fixed by such extension agreement; provided, however, that no such extension agreement shall affect the rights or obligations of persons riot parties thereto.
(c) Except as otherwise provided in this Agreement, the trust created by this Agreement is hereby expressly declared to be irrevocable.
Termination or Extension. This Agreement may be extended or terminated before expiration date by a 2/3 majority approval by the JRU Board after proposition by any Party, in accordance to the rules provided in Annex 1.
Termination or Extension. This Consortium Agreement may be extended or terminated before expiration date by an unanimous decision by the Parties. In case so many Parties have withdrawn or have been excluded that the minimum amount of three Parties cannot be reached anymore, this Consortium Agreement shall be considered terminated, unless the Consortium Agreement terms are confirmed by unanimous decision of the remaining Parties.
Termination or Extension. 1Generally This Agreement will terminate on expiration of the Term, unless otherwise agreed by the Parties.
Termination or Extension. (a) Unless earlier terminated, this Agreement will terminate immediately following the release of the final payment.
(b) Any extension or request for an early claim of grant funds must be sought in writing and approved by the Grantor.
Termination or Extension. This Agreement shall terminate upon the earlier of (i) three (3) years after the date hereof ("Term"), subject to automatic renewal as provided in Section 3.02; (ii) the (A) sale of more than fifty percent of the voting stock in the Company, or (B) the sale of all or substantially all of the assets of the Company, to a Person (as defined below) not an Affiliate (as defined below) of the Company; (iii) a merger or consolidation with another Person not an Affiliate of the Company which will own more than 35% of the combined business of the entities that are parties to such merger or combination; (iv) the Beneficiaries own in the aggregate less than nineteen percent (19%) of the non-diluted shares of the Company; (v) the termination by the Company of J.T. Lin's employment, if such termination of employment is without Cau▇▇ (▇▇ ▇▇▇ined below); (vi) the expiration of the maximum permitted term of voting trusts under the Florida Business Corporation Act (a "Florida Trust Term"), subject to automatic renewal as provided in Section 3.02