Final Term Clause Samples
The "Final Term" clause defines the definitive end date or duration of an agreement or contract. It specifies when the contractual obligations of the parties will cease, either on a fixed date or after a certain period, and may outline any conditions for extension or renewal. By clearly establishing when the agreement concludes, this clause prevents ambiguity about the parties' ongoing responsibilities and helps avoid disputes regarding the contract's duration.
POPULAR SAMPLE Copied 3 times
Final Term. Commencing on January 1, 2003 and, unless terminated earlier by the Company or Executive as provided in Section 3.3 of this Agreement, ending on July 31, 2003, (the “Termination Date”), (i) Executive’s principal focus shall be transactional activity, and (ii) Executive shall devote his best efforts and at least twenty-five percent (25%) of Executive’s business time (and in any event no less than ten (10) hours per week) to the performance of Executive’s duties hereunder and will not engage in any other business, profession or occupation for compensation or otherwise which would conflict with the rendition of such services either directly or indirectly.
Final Term. All Conditions Precedent shall be fulfilled (or waived) within up to one hundred and eighty (180) days from the Closing Date, with due regard for the fact that, if the sole Condition Precedent pending fulfillment is the Condition Precedent provided in Section 3.4 (C▇▇▇’▇ Approval) as a result of the analysis of the Operation through ordinary procedures, such term shall be automatically extended for the period of forty-five (45) days after the publication of the Final Decision. If the Conditions Precedent are not fulfilled (or waived) up to such date, Section 9.1 shall be applicable. Nevertheless, the Parties may, by mutual and written agreement, extend the term for fulfillment of the Conditions Precedent.