Termination in First Year Clause Samples
The 'Termination in First Year' clause allows either party to end the contract within the first year of its term. Typically, this clause outlines the conditions under which early termination is permitted, such as providing advance written notice or paying a specified fee. Its core practical function is to provide flexibility and reduce risk for both parties during the initial period of the agreement, ensuring that they are not locked into an unfavorable arrangement if circumstances change early on.
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Termination in First Year. Notwithstanding the provisions of paragraph 10.1, except in the case of material nonperformance or other material breach by Prolinx, Nanogen shall not terminate funding for the Sponsored Research Program during the first twelve (12) months of the Sponsored Research Program unless a determination is made, subject to the following procedures, that the Technical Milestones, as defined in the Research Plan, have not been achieved.
Termination in First Year. Notwithstanding any other provision of this Agreement, NLS agrees that it shall have no right to terminate this Agreement for any reason prior to October 1, 1998.