Common use of Agreement Validity Clause in Contracts

Agreement Validity. 9.1. This Agreement shall come into effect upon execution and shall be valid through 6 a.m. local time on January 1, 2013. 9.2. This Agreement may be terminated before expiry of its term by either Party subject to a notice at least 180 days from the proposed termination date. Such termination notice shall be given by a registered mail with acknowledgement of receipt. The terminating Party shall then be required to pay to the other Party a termination fee equal to 13% of the amount of the Principal’s Actual Gross Revenues for the six full months preceding the termination date. The Parties agree that if the termination occurs after December 31, 2008 and the termination date shall be effective as of January 1 of the respective year and subject to terminating Party’s notice being received by the other Party at least 180 days before the proposed date of termination, the termination fee provision shall not apply. The payment of the termination fee shall be made within 30 (Thirty) days from the Agreement termination date. 9.3. Any reorganization, change of legal form, shareholders and/or management (whether sole and/or collective) of the Parties shall not constitute a ground for the termination and/or change of the provisions set forth in this Agreement. 9.4. Upon expiry of the term of this Agreement it can be renewed by agreement of the Parties. 9.5. In the event that, as of the date this Agreement is terminated, any advertising under any agreement made by the Agent in accordance with this Agreement is not completed and/or any commenced service has not been provided in full, the obligation of the Parties shall be deemed terminated as from the date on which such Advertising has been broadcast and all settlements and penalty payments in accordance with the terms of this Agreement have been completed.

Agreement Validity. 9.1. This Agreement shall come into effect upon execution and shall be valid through 6 a.m. local time on January 1, 20132010. 9.2. This Agreement may be terminated before expiry of its term by either Party subject to a notice at least 180 (one hundred eighty) days from the proposed termination date. Such termination notice shall be given by a registered mail with acknowledgement of receipt. The terminating Party shall then be required to pay to the other Party a termination fee equal to 1312% (Twelve percent) of the amount of the Principal’s Actual Gross Revenues for the six 6 (six) full months preceding the termination date. The Parties agree that if the termination occurs after December 31, 2008 and the termination date shall be effective as of January 1 of the respective year 1, 2009 and subject to terminating Party’s notice being received by the other Party at least 180 (one hundred eighty) days before the proposed date of termination, the termination fee provision shall not apply. The payment of the termination fee shall be made within 30 (Thirty) days from the Agreement termination date. 9.3. Any reorganization, change of legal form, shareholders and/or management (whether sole and/or collective) of the Parties shall not constitute a ground for the termination and/or change of the provisions set forth in this Agreement. 9.4. Upon expiry of the term of this Agreement it can be renewed by agreement of the Parties. 9.5. In the event that, as of the date this Agreement is terminated, any advertising under any agreement made by the Agent in accordance with this Agreement is not completed and/or any commenced service has not been provided in full, the obligation of the Parties shall be deemed terminated as from the date on which such Advertising has been broadcast and all settlements and penalty payments in accordance with the terms of this Agreement have been completed.