Common use of Duration, Withdrawal and Termination Clause in Contracts

Duration, Withdrawal and Termination. 1. This Agreement shall be valid for an indefinite period. 2. A Party may withdraw from this Agreement by means of a written notification to the Depositary. The withdrawal shall take effect 12 months after the date on which the notification is received by the Depositary. 3. Any EFTA State which withdraws from the EFTA Convention or any GCC Member State which withdraws from the Charter of the Co-operation Council for the Arab States of the Gulf, shall, ipso facto on the same day as the withdrawal takes effect, cease to be a Party to this Agreement. A copy of the notification of withdrawal under the EFTA Convention or withdrawal from the Charter of the Cooperation Council for the Arab States of the Gulf shall promptly be submitted to the other Parties. 4. If all EFTA States withdraw or if all GCC Member States withdraw in accordance with paragraph 2, this Agreement shall be terminated as of the date when the withdrawal has taken effect for all EFTA States or all GCC Member States.

Appears in 4 contracts

Samples: Trade Agreement, Trade Agreement, Trade Agreement

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