Common use of Effective Term of the Agreement Clause in Contracts

Effective Term of the Agreement. 5.1 The Parties acknowledge and confirm that this Agreement shall come into force after being officially signed by the Parties, and shall be retroactive to January 1, 2018, which means this Agreement shall be binding upon the Parties on and from January 1, 2018, whereupon the Parties shall have all rights hereunder and perform all the obligations hereunder. Unless terminated as expressly specified herein or upon Party A’s written decision, this Agreement shall be permanently effective. 5.2 If either Party’s business term expires during the effective term of this Agreement, such Party shall timely extend its business term to enable this Agreement to remain effective and performable. If either Party’s application for extension of its business term is not approved or consented by any competent authorities, this Agreement shall be terminated upon the expiration of such Party’s business term. 5.3 The Parties’ rights and obligations under Articles 3, 6, 7 and 5.3 hereof shall survive any termination of this Agreement.

Effective Term of the Agreement. 5.1 The Parties acknowledge and confirm that this Agreement shall come into force after being officially signed by the Parties, and shall be retroactive to January 1, 2018, which means this Agreement shall be binding upon the Parties on and from January April 1, 20182021, whereupon the Parties shall have all rights hereunder and perform all the obligations hereunder. Unless terminated as expressly specified herein or upon Party A’s written decision, this Agreement shall be permanently effective. 5.2 If either Party’s business term expires during the effective term of this Agreement, such Party shall timely extend its business term to enable this Agreement to remain effective and performable. If either Party’s application for extension of its business term is not approved or consented by any competent authorities, this Agreement shall be terminated upon the expiration of such Party’s business term. 5.3 The Parties’ rights and obligations under Articles 3, 6, 7 and 5.3 hereof shall survive any termination of this Agreement.