Common use of Modification and Termination Clause in Contracts

Modification and Termination. This agreement may be modified or amended from time to time, or terminated, by mutual written agreement between the Parties. An Artisan Affiliate shall automatically be added as a party to this Agreement upon coverage of such Artisan Affiliate under the Bond. It may be terminated by any Party upon not less than 60 days’ written notice to each other Party. It shall terminate as to any Party as of the date on which that Party ceases to be an insured under the Bond, provided that such termination shall not affect that Party’s rights and obligations hereunder with respect to any claims on behalf of that Party which are paid under the Bond by the insurer after the date the Party ceases to be an insured under the Bond.