Common use of Duration and Modification Clause in Contracts

Duration and Modification. 2.01 The duration of this Agreement is for a term of <<insert number 1-10>> years commencing on <<insert start date>> and ending on <<insert end date>> inclusive. 2.02 The Agreement may not be modified except by a subsequent agreement in writing between the Parties. 2.03 Nothing in this Agreement will be considered to have been waived by the Province unless such a waiver is in writing. 2.04 Either Party may cancel this Agreement by giving 60 days prior written notice to the other Party. Upon receiving cancellation notice, the party receiving the cancellation notice will have the opportunity to be heard by the party serving the cancellation notice and the Parties will use their best efforts to conclude the opportunity to be heard within the 60 day period. 2.05 Subject to 2.03, not later than 6 months prior to the expiry date of the Agreement, the Province will make a written offer to the Agreement Holder setting out the conditions upon which the Province may renew this Agreement. 2.06 The Agreement Holder shall have a period of 3 months from receipt of the renewal offer to accept in writing, the renewal offer on the terms and conditions contained in such offer, provided the Agreement Holder is in compliance with the terms and conditions of this agreement at that time. 2.07 Notwithstanding anything to the contrary in this Agreement, the Province, in its sole discretion, may elect to not make a renewal offer to the Agreement Holder.

Duration and Modification. 2.01 The duration of this Agreement is for a term of <<insert number 1-10>> 10 years commencing on <<insert start date>> , December 21, 2015 and ending on <<insert end date>> December 20th, 2025 inclusive. 2.02 The Agreement may not be modified except by a subsequent agreement in writing between the Parties. 2.03 Nothing in this Agreement will be considered to have been waived by the Province unless such a waiver is in writing. 2.04 Either Party may cancel this Agreement by giving 60 days prior written notice to the other Party. Upon receiving cancellation notice, the party receiving the cancellation notice will have the opportunity to be heard by the party serving the cancellation notice and the Parties will use their best efforts to conclude the opportunity to be heard within the 60 day period. 2.05 Subject to 2.03, not later than 6 months prior to the expiry date of the Agreement, the Province will make a written offer to the Agreement Holder setting out the conditions upon which the Province may renew this Agreement. 2.06 The Agreement Holder shall have a period of 3 months from receipt of the renewal offer to accept in writing, the renewal offer on the terms and conditions contained in such offer, provided the Agreement Holder is in compliance with the terms and conditions of this agreement at that time. 2.07 Notwithstanding anything to the contrary in this Agreement, the Province, in its sole discretion, may elect to not make a renewal offer to the Agreement Holder.

Duration and Modification. 2.01 The duration of this Agreement is for a term of <<insert number 1-10>> 10 years commencing on <<insert start date>> Sept 13th 2023 and ending on <<insert end date>> Sept 13th , 2033 inclusive. 2.02 The Agreement may not be modified except by a subsequent agreement in writing between the Parties. 2.03 Nothing in this Agreement will be considered to have been waived by the Province unless such a waiver is in writing. 2.04 Either Party may cancel this Agreement by giving 60 days prior written notice to the other Party. Upon receiving cancellation notice, the party receiving the cancellation notice will have the opportunity to be heard by the party serving the cancellation notice and the Parties will use their best efforts to conclude the opportunity to be heard within the 60 day period. 2.05 Subject to 2.03, not later than 6 months prior to the expiry date of the Agreement, the Province will make a written offer to the Agreement Holder setting out the conditions upon which the Province may renew this Agreement. 2.06 The Agreement Holder shall have a period of 3 months from receipt of the renewal offer to accept in writing, the renewal offer on the terms and conditions contained in such offer, provided the Agreement Holder is in compliance with the terms and conditions of this agreement at that time. 2.07 Notwithstanding anything to the contrary in this Agreement, the Province, in its sole discretion, may elect to not make a renewal offer to the Agreement Holder.