Initial Term and Termination Clause Samples

The 'Initial Term and Termination' clause defines the starting duration of an agreement and the conditions under which it can be ended by either party. Typically, it specifies a fixed period during which the contract remains in effect, after which it may automatically renew or require explicit renewal, and outlines the procedures or notice requirements for early termination. This clause ensures both parties understand the commitment period and provides a clear framework for ending the relationship, thereby reducing uncertainty and potential disputes over contract duration.
Initial Term and Termination. This Contract shall take effect on the latter of the date of execution by the last party to sign hereon or the date specified by the Board of Directors in making the determination in Section 1(b) below. This Contract shall remain in effect for an initial delivery term commencing on October 1, 2035 (at the end of the then-current Power Sales Contract between Member and IMEA) and extending through and including May 31, 2055. The delivery term shall continue thereafter and run from year to year until terminated by five (5) years prior written notice.
Initial Term and Termination. The term of this Agreement will commence upon your agreement to be bound by this Agreement pursuant to Section 1 and will continue in full force and effect until terminated in accordance with this Section 11.1. This Agreement shall terminate on the earlier to occur of the following events: (i) voluntary termination by you for any or no reason pursuant to Section 1, (ii) termination by Freenom for any or no reason (iii) voluntary termination by you in connection with a sale or transfer, pursuant to Section 11.3, of the domain name provided to you through FREE DOMAIN, or (iv) involuntary termination pursuant to Section 11.4 upon our determination that you have violated the terms of this Agreement. Freenom reserves the unlimited right to amend this section as it, in its sole discretion, sees fit.
Initial Term and Termination. ‌ 25.1 This Agreement will commence on the date You sign Your acceptance of Our terms and conditions, whether by way of acceptance of any Specification, the commencement of Us providing goods or services to You, or otherwise, and will continue until the termination of Our services, subject to earlier termination in accordance with this clause 24. 25.2 This Agreement cannot be terminated before the expiry of the Initial Term, unless agreed to by Us in writing. If agreed to by Us, You will be required to pay out any agreement for the remaining Initial Term, within 14 days of termination of Our services.‌ 25.3 Without limiting clause 25.2, this Agreement will continue in effect until terminated by either party by not less than 60 days' written notice. 25.4 Subject to clauses 28.2, 28.3 and 19.3, You must remove the Equipment from the Location within [7] Business Days of termination of this Agreement. 25.5 We reserve the right to terminate this Agreement on not less than 3 days notice if: (a) the operation of the Equipment at the Location is for purposes substantially other than the purposes for which this Agreement contemplated; or (b) You fail to comply with any material obligation or responsibility under this Agreement. 25.6 Despite any other provision in this Agreement, if We, for any reason, are required to vacate the Location We can terminate this Agreement by providing You with not less than 3 days notice in writing. 25.7 Without limiting the generality of any other clause in this Agreement, a Party (the Terminating Party) may terminate this Agreement immediately by notice in writing if:‌ (a) the other Party is in breach of this Agreement and the breach is not remedied within 30 days of notice by the Terminating Party to rectify that breach; (b) the other Party commits an Act of Insolvency; (c) the other party ceases or threatens to cease conducting its business in the normal manner. 25.8 In the event of termination under clause 25.7 or otherwise, You must pay Us for all Work carried out up to the date of termination.
Initial Term and Termination. This Contract shall take effect on January 1, 2011 and shall remain in effect for an initial term through September 30, 2035 and thereafter from year to year until terminated by five (5) years prior written notice. In no event shall this Contract extend beyond September 30, 2040.
Initial Term and Termination. 13.1 The initial term of this Reseller Agreement ("Initial Term") shall commence on the Effective Date and shall continue for a period [***]*. Either party may terminate this Reseller Agreement during the Initial Term upon [***]* written notice. 13.2 Except as provided for in 3.1 and except as otherwise provided for in this Agreement, at the end of the Initial Term, this Reseller Agreement shall automatically renew for successive annual periods until terminated by either party upon [***]* written notice prior to the end of the current term. 13.3 Upon expiration or termination of this Reseller Agreement, all rights and licenses of the parties herein shall cease except that Section10, 11,12,14,15, 18, 28 and any rights to payment already accrued shall survive termination.
Initial Term and Termination. 1) This agreement and the services rendered hereunder are valid for one year and will automatically renew annually after the signing of this contract AND the first trade is processed. 2) This License shall be put into effect upon the signing of this contract. The Licensee or Licensor can terminate the agreement at any time on (one) month’s written notice. All outstanding fees should be paid within ten (10) days of termination after invoice is issued by Licensor. 3) The Licensor shall have the right to immediately terminate this License if the Licensee fails to perform any obligation required of The Licensee or if the Licensee becomes bankrupt or insolvent. 4) In the event that the Licensee fails to pay any invoiced amount within the time period stipulated on the invoice (where such amount is not subject to a bona fide dispute or query) this may result in the immediate termination or stoppage of services if the Licensee fails to pay such undisputed invoiced amount within seven (5) business days of receiving a demand for payment. 5) Either Party shall have the right to immediately terminate this Agreement on the occurrence of any of the following events: ① the other Party commits a material breach of this Agreement which breach is irremediable or (if such breach is remediable) fails to remedy that breach within a period of 10 days after being notified in writing to do so; ② the other Party becomes insolvent/dissolved, or under administration; ③ the other Party voluntarily files or has filed against it a petition under applicable bankruptcy or insolvency law;