Effective Date, Duration & Renewal Clause Samples
The 'Effective Date, Duration & Renewal' clause establishes when an agreement begins, how long it remains in force, and the conditions under which it may be extended. Typically, this clause specifies a start date, outlines a fixed or ongoing term, and details any automatic or optional renewal procedures, such as requiring notice before renewal or setting renewal periods. Its core function is to provide clear expectations for the lifespan of the contract, helping both parties understand their ongoing obligations and how the agreement can be continued or concluded.
Effective Date, Duration & Renewal. Section 1. Effective Date- The Effective Date of this Agreement shall be on the date of signing by all parties or, if signed on different dates, on the date of signing by the party who last signed. If the Agreement is not dated when signed, the Effective Date shall be based on the date of notarization.