TERM (Paragraph 1.3) Sample Clauses

The TERM clause (Paragraph 1.3) defines the duration for which the agreement remains in effect. It typically specifies the start date and the end date or the conditions under which the agreement will automatically renew or terminate. For example, it may state that the contract is valid for one year from the effective date, with options for renewal upon mutual agreement. This clause ensures both parties are clear about the timeframe of their obligations, preventing misunderstandings about when the agreement begins and ends.
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TERM (Paragraph 1.3). The Expiration Date for the Collective Lease shall hereby be changed to March 31, 2022. Notwithstanding any prior agreement to the contrary, the Parties agree that Lessee has no existing right or option to extend the Term of the Lease beyond said Expiration Date (March 31, 2022).
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