Term/Duration of the Agreement Sample Clauses

Term/Duration of the Agreement. This Agreement shall continue until a notice of cancellation by the Master Merchant or the Sub Merchant is given, or until terminated under other provisions of this Agreement. The Master Merchant reserves the right to terminate this Agreement without cause upon notification to the Sub Merchant. The Master Merchant may further terminate this Agreement immediately without notice at any time if the Sub Merchant breaches any part of this Agreement, or if any program or facility used by Master Merchant to implement this Agreement is disrupted or terminated for any reason.
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Term/Duration of the Agreement. This Agreement shall become effective from _____________________ and shall continue in force for a period of 3 (three) years thereafter. After expiry of the Agreement, the obligations not to use and not to disclose Confidential Information already disclosed at the time of expiration shall continue in force for 5 (five) years from the date of expiration. This Agreement sets out the entire understanding of the Parties in respect of their respective rights and obligations relating to the Confidential Information. Nothing contained in this Agreement shall create a partnership or a joint venture between the Parties. Further, nothing contained in this Agreement shall prevent either Party from entering into similar understanding / project with any third parties of its choice.
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Term/Duration of the Agreement. The duration of the agreement establishes the length of time for which the parties are bound by the contract. Samples of genetic material transferred under an MTA may be transferred temporarily (loaned) or permanently. If the genetic material is to be transferred temporarily, then the contract should stipulate for how long the material is to be loaned to the user, and this will often determine the duration of the contract. This is the case when an animal is loaned to a zoo, for example. Genetic material can also be transferred permanently, for example in the case of certain cell samples. In such cases, it makes little sense to ask for the original sample back after a certain period of time, as the sample is being given to a user who intends to cultivate the cell and perform R&D on it. The term of the contract will, however, often be shorter than the perpetuity that the permanent transfer implies. In such cases, providers will want to ensure that certain commitments entered into in respect of the material transferred survive beyond the duration of the contract (i.e., Argentina’s model MTA no. 3, paragraph 9). These may include covenants not to seek IPRs or benefit sharing that arises out of IPRs, for example. In some jurisdictions, courts will interpret whether the restrictions that survive the end of a contract are reasonable. In other cases, the contract may provide that the resource be destroyed if an MTA is terminated for default or cancellation of permit, as in the model Australian MTA (Article 13.4.1.b). While practical for certain resources such as virus samples, this may not be practical or ethical in the case of endangered species. The term of a contract may be renewed. In such cases, the renewal should also stipulate that PIC and MAT continue to be met. Key Points  Resources may be transferred under an MTA temporarily or permanently.  The term of an MTA contract will often be shorter than the perpetuity that the permanent transfer implies. In such cases, providers will want to ensure that commitments entered into in respect of the material transferred survive beyond the duration of the contract.  A contract may provide that the resource be destroyed at the end of a contract term. While practical for certain resources such as virus samples, this may not be practical or ethical in the case of certain animal or plant species.
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Related to Term/Duration of the Agreement

  • Duration of the Agreement This Agreement shall come into effect on the day and year stated in Box 4 and shall continue until the date stated in Box 17. Thereafter it shall continue until terminated by either party giving to the other notice in writing, in which event the Agreement shall terminate upon the expiration of a period of two months from the date upon which such notice was given.

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Application of the Agreement (1) This Agreement shall apply to investments made in the territory of either Contracting Party in accordance with its legislation by investors of the other Contracting Party prior as well as after the entry into force of this Agreement.

  • Duration and Termination of the Agreement This Agreement shall become effective upon its execution; provided, however, that this Agreement shall not become effective unless it has first been approved (a) by a vote of the Independent Trustees, cast in person at a meeting called for the purpose of voting on such approval, and (b) by an affirmative vote of a majority of the outstanding voting shares of the Fund. This Agreement shall remain in full force and effect continuously thereafter, except as follows:

  • Modification of the Agreement Notwithstanding any of the provisions of this Agreement, the parties may agree to amend this Agreement. No alteration or variation of the terms of this Agreement shall be valid unless made in writing and signed by the parties hereto. No oral understanding or agreement not incorporated herein shall be binding on any of the parties hereto.

  • Formation of the Agreement 2.1 The Agreement is binding upon Supplier after accepting the Purchase Order as evidenced by acknowledgement, supply of Goods and/or performance of Services. Versuni expressly rejects Supplier’s general conditions of sale.

  • Operation of the Agreement A5.1 This Agreement is comprehensive and provides the terms and conditions of employment of employees covered by this Agreement, other than terms and conditions applying under applicable legislation.

  • Variation of the Agreement The Agreement may be amended at any time by agreement in writing between the Organisation and the Ministry.

  • Implementation of the Agreement Regulations of this Agreement relating to investments who investors of one Contracting Party realized before or after the entry into force of this Agreement, with what shall apply from the moment of its entry into force, provided that such investments conducted in accordance with the laws of that Party Contracting.

  • Term and Termination of the Agreement 15.1. Term and duration of the Agreement The Standard Transmission Agreement shall enter into force on the Start Date of this Standard Transmission Agreement and shall be effective for an undetermined term.

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