Terms Termination Consequences Sample Clauses

The 'Terms, Termination & Consequences' clause defines the duration of the agreement, the conditions under which either party may end the contract, and the effects of such termination. It typically outlines the initial term, any renewal periods, and the procedures for giving notice of termination, as well as specifying what happens to obligations, payments, or confidential information after the contract ends. This clause ensures both parties understand how and when the agreement can be concluded and clarifies their rights and responsibilities upon termination, thereby reducing uncertainty and managing risk.