Common use of Termination Term Clause in Contracts

Termination Term. Either Owner or the Association may terminate this Agreement at any time by written notice to the other party given in accordance with paragraph 8 below. Such termination will be effective upon the giving of notice or on such later date provided in the notice. This Agreement shall automatically terminate upon sale of the Residence by Owner. Unless terminated earlier, this Agreement shall have a term of five (5) years from the date hereof. The Association will surrender to Owner all codes to the Residence immediately upon termination of this Agreement.

Termination Term. Either Owner or the Association may terminate this Agreement at any time by written notice to the other party given in accordance with paragraph 8 below. Such termination will be effective upon the giving of notice or on such later date provided in the notice. This Agreement shall automatically terminate upon sale of the Residence by Owner. Unless terminated earlier, this Agreement shall have a term of five (5) years from the date hereof. The Association will surrender to Owner all codes keys to the Residence immediately upon termination of this Agreement.