Closed term Sample Clauses

A closed term clause defines a fixed period during which an agreement remains in effect, with no automatic renewal or extension beyond the specified end date. In practice, this means that once the term expires, the contract ends unless both parties actively agree to renew or extend it, and no further obligations continue under the original agreement. This clause provides certainty and finality to the contractual relationship, ensuring that both parties are aware of the exact duration of their commitments and preventing unintended continuation of obligations.