Alliance Term Clause Samples
The Alliance Term clause defines the duration for which an alliance or partnership agreement remains in effect. It typically specifies the start and end dates of the alliance, and may outline conditions for renewal, extension, or early termination. By clearly establishing the timeframe of the alliance, this clause ensures both parties understand their commitments and helps prevent disputes over the agreement's validity period.
Alliance Term. Unless earlier terminated by either Party as permitted under the provisions of this Agreement, the obligations set forth in this Article II shall commence on the date hereof and shall continue for five (5) years thereafter (the “Alliance Term”); provided, however, that the Alliance Term shall automatically renew for successive one-year terms unless either party elects otherwise by providing the other party with prior written notice delivered no later than 150 days prior to the end of such term and no earlier than 210 days prior to the end of such term.
Alliance Term. The parties will engage in development and commercialization activities pursuant to this Agreement, commencing on the Effective Date and, unless earlier terminated as set forth in Article 11, continuing for a period of ten (10) years thereafter (the “Initial Term”). The parties will agree to extensions and/or expansions of this Agreement, if any, no later than [*] prior to the end of the Initial Term. The Initial Term and any extensions thereof are defined as the “Alliance Term.”