Term and Termination of this Agreement. This agreement shall be in effect for a term of twelve (12) months from the date of execution by MORSTAN (‘term”) at which time it shall automatically renew for another twelve (12) month period unless terminated in writing by either party. However, this agreement may be terminated prior to its expiration by either party for any reason by providing ten (10) days written notice. In the event of a sale or merger of MORSTAN during the term of this agreement, the successor company or buyer will retain MORSTAN’s obligations hereunder. BROKER shall have no right to assign its rights or delegate its obligations under this Agreement, except with the prior written consent of MORSTAN. Any assignment or delegation made without MORSTAN’S consent will be deemed null and void.
Appears in 4 contracts
Samples: Independent Broker Agreement, Independent Broker Agreement, Independent Broker Agreement
