Common use of Transition Process Clause in Contracts

Transition Process. In the event of termination of this Agreement, for any reason, the Parties undertake to use joint efforts to implement a transition plan for the services and/or activities subject matter of this Agreement to other partners and/or institutions (“Transition Process”). 13.4.1. By way of clarification, said Transition Process shall involve all the necessary adjustments for the complete transfer of activities, including operational, commercial and contractual adjustments. If the Parties deem it necessary and by mutual agreement, the term of effectiveness of the Agreement may also be extended in order to enable the completion of the Transition Process.