Common use of Term, termination and amendments Clause in Contracts

Term, termination and amendments. The agreement will go into effect from the date of the last signature and will be in effect for FIVE (5) years. Both parties reserve the right to terminate this agreement upon written notice given SIX (6) months. The Agreement will be automatically renewed on the same terms and conditions for another FIVE (5) years unless written notification is given by either party not less than SIX (6) months prior to the expiry date. Any additions, changes, or deletions must be approved in writing by official representatives of both institutions.