Common use of EFFECTIVE DATE OF IMPLEMENTATION Clause in Contracts

EFFECTIVE DATE OF IMPLEMENTATION. This agreement becomes effective upon the completion of the signatures of both parties and remains in effect, unless sooner terminated in accordance herewith, for a period of five years. At the end of the initial five years period, the agreement can be renewed if agreed upon by all parties in writing for an additional five years. If either party desires not to renew the agreement after any five year period, they will notify the other party in writing at least ninety (90) days prior to the expiration of the current five year period that it does not desire further renewal.