Term and Expiry Clause Samples
The 'Term and Expiry' clause defines the duration for which an agreement remains in effect and specifies when it will end. Typically, this clause outlines the start date of the contract and the conditions or date upon which it will expire, such as after a fixed period or upon completion of certain obligations. Its core function is to provide clear boundaries for the contractual relationship, ensuring both parties understand when their rights and responsibilities begin and end, thereby preventing disputes over the contract's validity period.
Term and Expiry. 2.1 This Agreement shall be effective from the date of execution and shall be valid until it automatically expires on the expiry of the Standstill Period.
Term and Expiry. (a) This Agreement commences on the date that it is executed by both parties (and if executed on different dates, that later date) (Effective Date) and continues for until the Expiry Date, unless extended or terminated earlier in accordance with its terms (Initial Term).
(b) The parties may agree in writing to renew this Agreement for up to three further periods of no more than 12 months each on the same terms and conditions as set out in this Agreement.
Term and Expiry. This Agreement shall enter into force on the --------------- Effective Date and shall expire five (5) years after the Effective Date, provided that NOVO NORDISK may reduce its funding obligation for the Development Program under Section 8 hereof by up to [*******] beginning with the third year after the Effective Date by notice to MAXYGEN not later than twelve (12) months prior to the year for which the reduction shall be effective. Unless due to breach of agreement or warranties hereunder by the other Party, neither Party may terminate this Agreement with respect to the licenses and options exchanged hereunder. Notwithstanding the expiry of this Agreement, the licenses granted hereunder shall continue in force under the terms and conditions contained herein including the continuing obligation to pay royalties on Net Sales of Licensed Products, on a country-by- country basis, for the life of any patent containing a Valid Claim in the relevant country, provided, however, that NOVO NORDISK shall have no further right to activate any NOVO NORDISK Preferred Area that it has not bona fidely activated prior to the expiry, but NOVO NORDISK nonetheless shall have the right of first opportunity for a period of ninety (90) days after the expiry if MAXYGEN should decide to pursue development or license of such lapsed NOVO NORDISK Preferred Area with a third party. In such event, MAXYGEN shall advise NOVO NORDISK from time to time of its decision to proceed with a third party and the terms of a proposed agreement with NOVO NORDISK and NOVO NORDISK shall have ninety (90) days thereafter to advise MAXYGEN whether it desires to accept such proposed agreement. Similarly, NOVO NORDISK may propose to MAXYGEN its desire to proceed with development of such a lapsed NOVO NORDISK Preferred Area and MAXYGEN shall within sixty (60) days thereafter advise NOVO NORDISK of the terms of a proposed agreement, and NOVO NORDISK shall have ninety (90) days thereafter to advise MAXYGEN whether it desires to accept such proposed agreement. In either event if NOVO NORDISK does not accept the agreement proposed by MAXYGEN, MAXYGEN shall have six (6) months thereafter to enter into an agreement with a third party on terms and conditions, taken as a whole, that are not materially more favorable to such third party than those proposed to NOVO NORDISK. If MAXYGEN is unable to enter into such agreement with a third party by the end of such six-month period, it shall again offer to NOVO NORDISK th...
Term and Expiry of the Agreement
Term and Expiry. 9.1 This Agreement, and the License hereby granted, shall commence as of the Effective Date set forth above.
9.2 This Agreement, and the License hereby granted, shall expire with respect to each Pending Program upon the expiration or termination of said Program and LICENSEE shall thereupon return all PPTI associated with the affected Pending Program as set forth in paragraph 16.
Term and Expiry not limited to copyright (including rights in computer software), trade mark, service mark, design, patent, trade secret, semi-conductor or circuit layout rights, trade, business, domain or company names, moral rights, rights This Agreement commences on Commencement Date and continues until the Completion Date (Term) unless extended (in writing) or terminated earlier.
Term and Expiry. The term of this Agreement (the Term) shall commence on the Effective Date and, subject to the provisions for termination herein, this Agreement shall expire, on a country-by- country and Licensed Product-by-Licensed Product on the latter of
(a) the date on which all Valid Claims covering the Licensed Products are expired, finally revoked, withdrawn, abandoned or finally disallowed, in each case, without the possibility of appeal or refiling of the claim, and expiry of the fifth (5th) year after the last to expire patents or 5 years after expiring of any exclusivity, or price, reimbursement protection; or
(b) ten (10) years after the first commercial sale of a Licensed Product.
Term and Expiry. 17.01 This Agreement shall continue in effect until 31 May 2014, and thereafter from year to year unless notice of termination, amendment or alteration by either party to the other is given in writing within 90 days prior to the expiration of this Agreement or to any subsequent anniversary of such expiration date.
17.02 If either party gives notice of amendment or termination, the other party agrees to set dates for the purpose of negotiation within 30 days after the giving of notice, if requested to do so, unless mutually agreed in writing otherwise. Date: Date: Classification Current June 1/09 June 1/10 June 1/11 June 1/12 June 1/13 Assistant ▇▇▇▇▇▇▇ 19.78 20.28 20.78 21.28 21.78 22.28 Secretary 18.72 19.22 19.72 20.22 20.72 21.22 Water Treatment Plant Op 18.82 19.32 19.82 20.32 20.82 21.32 Machine Operator I 18.64 19.14 19.64 20.14 20.64 21.14 Machine Operator II 18.00 18.50 19.00 19.50 20.00 20.50 Lead Hand 16.56 17.06 17.56 18.06 18.56 19.06 Truck Driver/Labourer 15.22 15.72 16.22 16.72 17.22 17.72 Maintenance Worker 14.31 14.81 15.31 15.81 16.31 16.81 A shift differential of $0.50 per hour shall be paid for any shift starting on or after 4:00 p.m. A weekend premium of $0.50 per hour shall be paid for all hours between 4:00 p.m. Friday and midnight Sunday.
Term and Expiry. 17.01 This Agreement shall continue in effect until 31 May 2019, and thereafter from year to year unless notice of termination, amendment or alteration by either party to the other is given in writing within 90 days prior to the expiration of this Agreement or to any subsequent anniversary of such expiration date.
17.02 If either party gives notice of amendment or termination, the other party agrees to set dates for the purpose of negotiation within 30 days after the giving of notice, if requested to do so, unless mutually agreed in writing otherwise.
Term and Expiry. 4.1 This Agreement shall commence as of the Effective Date set forth above.
4.2 This Agreement shall expire with respect to each Pending Program upon the expiration or termination of said Pending Program. Upon the expiration or termination of the last executory Pending Program, this Agreement shall be deemed expired in its entirety.