Common use of Termination Prior to the Expiration Date Clause in Contracts

Termination Prior to the Expiration Date. This Contract may be terminated prior to the Expiration Date only as provided in this Article IV and as may be provided in Schedule A. In the event such termination occurs, the balance in the Guaranteed Fund plus Additional Amounts that may be due and owing as of the date of such termination, if any, shall become immediately due and payable to the Owner. All rights and obligations under this Contract will terminate concurrently with the payment of such amounts to the Owner.