One-Year Terms Clause Samples
The "One-Year Terms" clause establishes that the agreement or contract will remain in effect for a period of one year from its effective date. Typically, this means that the rights and obligations of the parties are set for a fixed twelve-month period, after which the contract may expire, renew, or require renegotiation. This clause provides a clear timeframe for the contractual relationship, helping both parties plan their commitments and review performance at regular intervals.
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One-Year Terms. This Agreement for this license is valid for one year following the Effective Date. It may be renewed only by mutual agreement in writing. The monthly fee charged is subject to change at the time of any renewal. Except as provided in Section B of this Article, the parties may not cancel this Agreement except at the time of renewal or by mutual, written agreement.
One-Year Terms. The Company grants MGA authority to issue or have issued Policies having a maximum term of one year.