Common use of Termination; Effective Date Clause in Contracts

Termination; Effective Date. This agreement will be effective when executed by Purchaser, will continue in full force and effect for one (1) year thereafter, and shall be further annually extended automatically unless Seller shall have given Purchaser written notice of its intention to terminate at least sixty (60) days prior to each such anniversary, whereupon this agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchaser.

Appears in 1 contract

Samples: Factoring and Security Agreement (Health & Nutrition Systems International Inc)

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Termination; Effective Date. This agreement Agreement will be effective when executed by Purchaser, will continue in full force and effect for one six (16) year thereaftermonths thereafter (the “Scheduled Term”), and shall be further semi-annually extended automatically (the “Rescheduled Term”) unless Seller shall have given Purchaser written notice of its intention to terminate at least sixty (60) days and not greater than ninety (90) days prior to each such anniversaryexpiration, whereupon this agreement Agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchaserexpiration.

Appears in 1 contract

Samples: Receivables Purchase and Security Agreement (Lightpath Technologies Inc)

Termination; Effective Date. 20.1 This agreement Agreement will be effective when executed on the date it is signed by Purchaserthe Parties, will shall continue in full force and effect for one (1) year thereafterthe Term, and shall be further annually automatically extended automatically for successive annual Terms unless Seller shall have given Purchaser written notice of its intention to terminate provide at least sixty (60) days prior to each such anniversary, whereupon this agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to Purchaser of its intention to terminate whereupon this Agreement shall terminate as of the other party. Upon termination Seller shall pay end of the Obligations to Purchasernext maturing Term.

Appears in 1 contract

Samples: Factoring and Security Agreement (DLR Funding, Inc.)

Termination; Effective Date. 17.1. This agreement Agreement will be effective when executed accepted by Purchaser, will continue in full force and effect for one (1) year thereafter, Purchaser and shall be further annually extended automatically unless Seller shall have given Purchaser written notice of indicate its intention to terminate at least sixty (60) thirty days prior to each such anniversarythe next annual anniversary date hereof, whereupon this agreement Agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchasersuch anniversary date hereof.

Appears in 1 contract

Samples: Factoring and Security Agreement (TXP Corp)

Termination; Effective Date. This agreement will be effective when executed by Purchaser, will continue in full force and effect for one (1) year thereafter, and shall be further annually extended automatically unless Seller shall have given Purchaser written notice of its intention to terminate at least sixty (60) days prior to each such anniversary, whereupon this agreement shall terminate on said anniversary. Either party can terminate The Early Termination Penalty shall only apply during the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchaserinaugural contract period.

Appears in 1 contract

Samples: Factoring and Security Agreement (Tri-S Security Corp)

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Termination; Effective Date. This agreement will be effective when executed by Purchaser, will continue in full force and effect for one (1) year thereafter, unless earlier terminated as provided herein, upon sixty (60) days written notice to Purchaser, and shall be further annually extended automatically unless Seller shall have given Purchaser written notice of its intention to terminate at least sixty (60) days prior to each such anniversary, whereupon this agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchaser.Initial

Appears in 1 contract

Samples: Factoring and Security Agreement (Tri-S Security Corp)

Termination; Effective Date. 13.1. This agreement Agreement will be effective when executed by Purchaser, will continue in full force and effect for one 12 months thereafter (1) year thereafterthe "Scheduled Term"), and shall be further annually extended automatically unless (the "Rescheduled Term") unless, Seller shall have given Purchaser provides written notice of its intention to terminate at least sixty (60) days and not greater than ninety (90) days prior to each such anniversary, whereupon this agreement Agreement shall terminate on said anniversary. Either party can terminate the agreement at any time with sixty days written notice to the other party. Upon termination Seller shall pay the Obligations to Purchaser.

Appears in 1 contract

Samples: Factoring and Security Agreement (Competitive Technologies Inc)

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