Conditional Agreement; Term Clause Samples
The 'Conditional Agreement; Term' clause defines the circumstances under which an agreement becomes effective and specifies its duration. Typically, this clause outlines that the contract will only take effect if certain conditions are met, such as regulatory approvals or the completion of due diligence, and it sets a clear start and end date for the agreement’s validity. By establishing both the prerequisites for activation and the timeframe of the contract, this clause ensures that both parties understand when their obligations begin and end, thereby providing certainty and managing expectations regarding the agreement’s enforceability.
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Conditional Agreement; Term. The employment hereunder shall be for a one year period commencing as of the date hereof, unless earlier terminated as provided in Section 4 (the “Initial Term”). This Agreement shall be automatically renewed for successive one-year periods upon the expiration of the Initial Term unless earlier terminated as provided in Section 4. The parties expressly agree that designation of a term and renewal provisions in this Agreement does not in any way limit the right of the parties to terminate this Agreement at any time as hereinafter provided. Reference herein to the term of this Agreement shall refer both to the Initial Term and any successive term as the context requires.
Conditional Agreement; Term. Should Plan of Merger not be consummated and the Effective Time not occur, this Agreement shall not become effective. Should this Agreement become effective, the employment hereunder shall be for a one year period commencing at the Effective Time, unless earlier terminated as provided in Section 4 (the “Initial Term”). This Agreement shall be automatically renewed for successive one-year periods upon the expiration of the Initial Term unless earlier terminated as provided in Section 4. The parties expressly agree that designation of a term and renewal provisions in this Agreement does not in any way limit the right of the parties to terminate this Agreement at any time as hereinafter provided. Reference herein to the term of this Agreement shall refer both to the Initial Term and any successive term as the context requires.
Conditional Agreement; Term. The employment hereunder shall be for a one year period commencing as of the date hereof, unless earlier terminated as provided in Section 4 (the “Initial Term”). This Agreement shall be automatically renewed for successive one-year periods upon the expiration of the Initial Term unless earlier terminated as provided in Section 4, unless either party serves upon the other written notice of non-renewal at least ninety (90) days prior to the expiration of the Initial Term or any subsequent anniversary thereof. The parties expressly agree that designation of a term and renewal provisions in this Agreement does not in any way limit the right of the parties to terminate this Agreement at any time as hereinafter provided. Reference herein to the term of this Agreement shall refer both to the Initial Term and any successive term as the context requires.