ceases to exist Clause Samples

ceases to exist. During the initially agreed duration of the convention, each party has the right to terminate the present agreement with immediate effect upon prior written notice, for a serious reason that consists in the violation of the obligations of the other party, hereunder or in the case one party ascertains culpable breach of a substantial provision of the contract by the other, and who though being informed by letter he fails to remedy such breach within one (1) month from the receipt of the written notice.