Common use of Term Default and Termination Clause in Contracts

Term Default and Termination. 5.1 This Agreement shall commence on the date on the evidence of payment presented by FIRSTBANK and shall inure for a period of three months after which the Agreement may be terminated save it is extended as envisaged in section 3.1 above or renewed by the Parties for a subsequent term agreed to by the Parties in writing. 5.2 FIRSTBANK may terminate this Agreement prior to its expiration, immediately, by written notice if BESGEN commits a material breach of this Agreement including but not limited to a breach of any of the Warranties contained in this Agreement provided that where FIRSTBANK terminates the Agreement as a result of breach of Warranties, BESGEN shall refund the unutilized portion of fees paid. 5.3 FIRSTBANK may terminate this Agreement without cause, by giving thirty (30) days written notice to ▇▇▇▇▇▇. Upon such termination, FIRSTBANK shall be entitled to a refund of the unutilized portion of fees paid. Termination of the Agreement shall be without prejudice to any right or claims, which either Party may have against the other, which is subsisting at the time of termination and any provision of this Agreement which is expressed to have effect after termination shall continue in force accordingly.

Term Default and Termination. 5.1 This Agreement shall commence on the date on the evidence of payment presented by FIRSTBANK and shall inure for a period of three xxxxxx months after which the Agreement may be terminated save it is extended as envisaged in section 3.1 above or renewed by the Parties for a subsequent term agreed to by the Parties in writing. 5.2 FIRSTBANK may terminate this Agreement prior to its expiration, immediately, by written notice if BESGEN Xxxxxxxxxx commits a material breach of this Agreement including but not limited to a breach of any of the Warranties contained in this Agreement provided that where FIRSTBANK terminates the Agreement as a result of breach of Warranties, BESGEN Xxxxxxxxxx shall refund the unutilized portion of fees paid. 5.3 . FIRSTBANK may terminate this Agreement without cause, by giving thirty (30) days written notice to ▇▇▇▇▇▇Xxxxxxxxxx. Upon such termination, FIRSTBANK shall be entitled to a refund of the unutilized portion of fees paid. Termination of the Agreement shall be without prejudice to any right or claims, claims which either Party may have against the other, other which is subsisting at the time of termination and any provision of this Agreement which is expressed to have effect after termination shall continue in force accordingly.