Common use of Expiry of Contract Clause in Contracts

Expiry of Contract. 14.1. The Contract expires (i) upon expiry of the Rental Period, (ii) termination of the Contract by agreement of the Parties or (iii) cancellation of the Contract on the grounds set out in the Contract. 14.2. In an event of theft or total loss of the Rental Item, the Contract expires when the Customer has compensated to the Service Provider (i) full market price of the Rental Item and (ii) the Termination Fee. In an insured event the Contract expires from the date insurance indemnity is paid out to the Service Provider.