Validity and Termination Clause Samples

Validity and Termination. 1. This Agreement is concluded for a period of ten years. It shall be extended for an indefinite period, unless either Contracting Party notifies in writing the other Contracting Party at least twelve months before the expiry of the relevant period, of its intention to terminate this Agreement. 2. At the same time in respect of investments made prior to the termination of this Agreement, the provisions of Articles 1 - 12 relating to such investments, will remain in force for a period of ten years from the date of termination of this Agreement.

Validity and Termination. 17.1 This Agreement shall remain in full force and effect with respect to each Party until such time as this Agreement is terminated pursuant to this Article 17 or that Party ceases to have an interest in the Company or the Company is dissolved and liquidated, whichever occurs first. Unless otherwise herein expressly provided, no Party that has transferred its shares in accordance with the provisions of this Agreement shall be bound by its terms and conditions after the date of such transfer. 17.2 If any of the following events or matters has not occurred or has not been completed within the period ending twelve (12) months after the date of this Agreement, this Agreement may be terminated by any Party upon written notice to the other Parties: (a) the granting of an investment license by the Saudi Arabian General Investment Authority in form and substance acceptable to the Parties licensing the establishment of the Company, and (b) the issuance of the Company’s commercial registration number. 17.3 If (i) a Party suffers an event of default as defined in Article 17.4 or (ii) a Party is in material default of an obligation hereunder and if such defaulting Party does not remedy such default within a period of ninety (90) days after receiving written notification of such default from any Party which is not in default (a “Non-Defaulting Party”), (in each case the party suffering an event of default or in material default of an obligation hereunder is a “Defaulting Party”), the following shall apply: (a) Provided that all Non-Defaulting Parties unanimously agree among themselves on the option to be exercised: (i) the Non-Defaulting Party(ies) may purchase all or any portion of the shares in the Company then held by the Defaulting Party at [...***...] percent of [...***...] determined pursuant to Article 17.6, provided that if more than one Non-Defaulting Party wishes to purchase the Defaulting Party’s shares, each such purchasing Party shall be entitled to purchase that percentage of the Defaulting Party’s shareholding which is equal to the percentage that that purchasing Party’s shareholding comprises of the total shareholdings of all purchasing Parties, or (ii) the Non-Defaulting Party(ies) may require that the Defaulting Party sign whatever resolutions and documents and take whatever action may be necessary to promptly liquidate the Company, including, without limitation, voting in favor of liquidation at a general meeting of the shareholders. (b) Should the ...

Validity and Termination. 5.1. Agreements concluded as a result of acceptance of this Offer are valid until December 31, 2021, Agreements concluded until that date are valid until the Parties fully fulfill their obligations under this Agreement. 5.2. This Agreement may be terminated: - by either Party by providing a 30-day written notice to the other Party; or - in the event of breach of this Agreement and current legislation unilaterally by either Party by providing a 10-day written notice to the other Party; or - immediately upon occurrence of the event described in Clause 1.5. and 1.6. 5.3. The expiration of the Offer or early termination does not relieve the Parties from the obligation to complete settlements and payment Agency fees for the provided services. 5.4. The Principal has the right to terminate this Agreement unilaterally with the immediate effect in case the Principal detects any suspicious activity on the Agent’s account, the Agent brings any or negative results, misleads or performs directly or indirectly any type of fraud, for any other reason of violation of this Agreement or General Terms.

Validity and Termination. 6.1. Agreements concluded as a result of acceptance of this Offer are valid until December 31, 2020, Agreements concluded until that date are valid until the Parties fully fulfill their obligations under this Agreement. 6.2. This Agreement may be terminated: - by agreement of the Parties; - unilaterally at the written request of one of the Parties on the grounds provided for by this Agreement and current legislation. 6.3. Unilateral termination of this Agreement is made upon written request within 10 (ten) calendar days from the date of receipt of the request by the Party. 6.4. The expiration of the Offer or early termination does not relieve the Parties from the obligation to complete settlements and payment Agency fees for the provided services.

Validity and Termination. 1. This Agreement is concluded for an unlimited period. 2. Either party may denounce this Agreement by a written notification to the other Party. The Agreement shall terminate on the first day of the sixth month following the date when the other Party received the denunciation notice.

Validity and Termination. 12.1. The Agreement is entered into for an indefinite period of time and comes into force after both Parties sign the Services Agreement. 12.2. The Agreement shall remain in effect for an unlimited period of time, until full performance of the obligations of the Parties set forth in the Agreement. 12.3. Any Party may terminate the Agreement by delivering a termination notice to the other Party 60 (sixty) days in advance. In case there is a suspicion of your business being involved in money laundering, terrorist financing or other similar unlawful activity, or goes bankrupt the Service Provider may terminate this Agreement immediately without submission of a notification. 12.4. In case you fail to settle an invoice in due time or do not cooperate, the Service Provider shall have the right to suspend the provision of Services to you. In case of termination of this Agreement, you shall, before the day of termination, pay all fees (remuneration) and cover all expenses incurred by us in accordance with this Agreement. We shall have the right to withhold your documents and other property related to the Services provided, including funds in bank accounts that were deposited by us in your name and advance payments until full settlement for the Services. In case you request to provide Services related to a particular assignment when the assignment itself has already been performed or when such Services exceed the scope of the assignment, such Services shall be paid for additionally, in accordance with the standard rates or as indicated in a separate order. 12.5. In case of termination or expiry of the Agreement, the provisions related to liability and payments between the Parties, conditions regarding confidentiality, as well as other provisions, as it is clearly indicated, remain valid. 12.6. You are obligated to pay the fees for our Services and other expenses as indicated in the Services Agreement, incurred until the day of termination of the Agreement.

Validity and Termination. This agreement will be in force for five (5) years from the date of its signature and its ratification by the corresponding authorities. This agreement may be extended, provided the parties express their willingness to do so in writing, at least 6 months prior to the expiring date. Nevertheless, either party may announce its intention to terminate this agreement unilaterally, without expression of cause, upon one month (30 days) written notice. This does not entitle the parties to claim any reparation or compensation of any kind. The ongoing activities will be completed within a year after the termination announcement, or within the limits permitted by the financial contribution made. Both parties express their full compliance with each and every clause of this agreement and in acceptance they sign four (4) copies, two (2) in Spanish and two (2) in English with the same content and to only one effect on the date……………..

Validity and Termination. 10.1. The Agreement shall come into force on the Effective Date and shall remain valid until the full fulfilment of the obligations of the Parties or until it is terminated. 10.2. The Carrier may unilaterally terminate the Agreement by giving 14 (fourteen) calendar day prior Notice to the Client and without referring to the dispute resolution venue, if: 10.2.1. the Client fails to make any payment hereunder and does not remedy this breach within 1 (one) calendar day after receipt of the same Carrier’s Notice; 10.2.2. the Client fails to provide any information reasonably required for the Flights and does not remedy this breach within 1 (one) calendar day after receipt of the same Carrier’s Notice; 10.2.3. the Client fails to duly fulfil its other obligations provided for in this Agreement and does not remedy this breach within 2 (two) calendar days after receipt of the same Carrier’s Notice. 10.2.4. the Client ceases to carry on business or suspends all of its operations (other than temporarily e.g. by reason of a strike); 10.2.5. the Client files a petition in bankruptcy or makes a general assignment for the benefit of creditors or otherwise acknowledges insolvency, or is adjudged bankrupt; 10.2.6. the Client commences or is placed in a process of complete liquidation other than for an amalgamation or reconstruction; 10.2.7. the FME lasts more than 14 (fourteen) calendar days. 10.3. If the Carrier terminates the Agreement on any basis established in clause 10.2 above, with the exception of clause 10.2.7 above, then the Agreement shall be deemed as terminated due to fault of the Client without any adverse consequences and/or liabilities to the Carrier, including, but not limited to, damages arising to the Client, Passengers, Shippers or third parties, which, if incurred, shall be assumed entirely by the Client. 10.4. In all cases termination of the Agreement shall not affect any payment obligations of the Parties, which shall be carried out in accordance with the provisions of the Agreement.

Validity and Termination. 4.1. The Contract comes into force from the moment of its signature by the Parties. 4.2. The Contract shall be considered terminated when its provisions are fully executed by the Parties and by their mutual agreement.