Common use of Contract Period and Termination Clause in Contracts

Contract Period and Termination. 1. This contract will come into effect on April 18, 2023 and will last for 5 years. Unless Party A notifies Party B in writing not to renew the contract 90 days before the expiration of this contract, this contract will be automatically renewed for one year according to the original conditions; the same applies thereafter. 2. When any party violates the provisions of this contract, the non-breaching party may urge the breaching party to make corrections within a specified time limit; if the correction is not made within the time limit, the non-breaching party may terminate this contract and claim damages from the breaching party. However, if either party has any of the following circumstances, the non-violating party may terminate this contract without a written notice: (1) Those who violate the provisions of Article 12 of this contract. (2) Subject to suspension of business, revocation of business license, cancellation of business registration, or business transfer, change, or merger. (3) Those who apply for reconciliation according to law, declare bankruptcy, reorganize the company, refuse to deal with the clearing house, or check the records of bounced checks, or dissolve and liquidate debts. (4) Subject to compulsory execution or false seizure, false disposition or other preservation or final disposition, resulting in failure to perform this contract or the possibility of failure to perform. 3. When this contract is terminated or expires, Party B shall no longer use the information provided by Party A and all content and materials obtained by Party B due to the performance of this contract (including but not limited to related technologies and foundry objects, etc., regardless of whether they are backup files , electronic records, summaries or checklists, etc.), and shall immediately be returned to Party A or destroyed upon Party A’s request. Party B shall also ensure that its third party shall follow the aforementioned agreement, and at the request of Party A, Party B shall deliver to Party A the certificate that the aforementioned data has been destroyed. 4. Clause 5 of Article 2, Cxxxxx 3 of Article 4, Clause 4 of Article 4, Cxxxxx 5 of Article 4, Article 5, Article 7, Article 8, and Cxxxxx 1 of Article 10 of this contract, Clause 2 of Article 10, Cxxxxx 5 of Article 10, and Articles 11 to 18 shall remain valid after the termination or expiration of this contract. Unless otherwise stipulated in this contract, the termination or expiration of this contract will not affect the rights and obligations of both parties that have occurred before the termination or expiration of the contract.