TERM; TERMINATION; WITHDRAWAL. This Agreement shall continue in effect for a term not to exceed twenty-five (25) years. At the conclusion of the term, taking into account any changed circumstances, the Municipal Members shall in good faith negotiate a replacement agreement. Any Member may voluntarily withdraw from the Cape Light Compact JPE at the end of each calendar quarter upon at least ninety (90) days prior written notice. Withdrawal of such Member shall not affect any obligations entered into prior to the date of withdrawal which are binding by their terms on such member, including, without limitation, contracts directly entered into by such Member and financial contributions to the Cape Light Compact JPE made or agreed to be made by such member. This Agreement may be terminated by collective agreement of all the Municipal Members; provided, however, the foregoing shall not be construed as limiting the rights of a Municipal Member to withdraw its membership in the Cape Light Compact JPE, and thus terminate this Agreement only with respect to such withdrawing Municipal Member. Upon termination of this Agreement, any surplus money or assets in possession of the Cape Light Compact JPE for use under this Agreement, after payment of all liabilities, costs, expenses, and charges incurred under this Agreement shall be returned to the then-existing Members in proportion to the contributions made by each, if applicable; if no contributions were made, surplus assets shall be distributed based on the relative populations of each Municipal Member. Payment of liabilities and disbursement of surplus money or assets shall also be in accordance with any rules, regulations and policies adopted by governmental authorities having jurisdiction over the Cape Light Compact JPE.
TERM; TERMINATION; WITHDRAWAL. 7.01 This Agreement shall commence as of the Effective Date and, unless earlier terminated as set forth in this Agreement, shall remain in effect until the Final Sale Date or the date that the last of the Goods is sold, whichever is earlier.
TERM; TERMINATION; WITHDRAWAL. The term of this MOU begins on the Effective Date, and it terminates when all Parties then-party to the MOU mutually agree in writing to terminate this MOU. Any Party may withdraw from this MOU by providing written notice to all other Parties at least 60 days prior to the date of withdrawal. Notwithstanding anything to the contrary, a Party shall be responsible for paying its share of costs incurred under this MOU through and including the termination date or the withdrawal date.
TERM; TERMINATION; WITHDRAWAL. 12.1Term Subject to the provisions of clauses 12.2, 12.3 and 12.6, this Agreement shall initially remain in force for a period of twelve months from the Commencement Date and thereafter shall be automatically renewed for further periods of twelve months.
TERM; TERMINATION; WITHDRAWAL
