Common use of Effectiveness, Modification and Termination Clause in Contracts

Effectiveness, Modification and Termination. 1. This Agreement shall come into effect after both the Borrower and the Creditor stamp official seals on it and signed or sealed by the legal representatives or the persons authorized of both parties, and shall be terminated after all outstanding loans under the Agreement have been paid off. 2. After the Agreement takes into effect, any party shall not modify or terminate the Agreement unless otherwise specified in the Agreement. The modification or termination of the Agreement, if required, shall be subject to the written agreement of both parties hereto through consultation.