Common use of Termination upon a year’s notice Clause in Contracts

Termination upon a year’s notice. Any Party may terminate its participation in this Participation Agreement by giving written Notice to each other Party of intent to terminate, as well as reasons for terminating (which shall be in the sole discretion of the terminating party), at least one (1) year prior to the effective termination date. Notwithstanding the above, any withdrawing Party shall have a duty to fulfill all obligations and duties of Implementation Agreements unless such Agreements are terminated in accordance with their provisions. Any Party terminating participation shall be ineligible for future Wake County Transit Tax Revenue Funding for any Implementation Element until and unless the Party re-enters into the Participation Agreement.

Termination upon a year’s notice. Any Party may terminate its participation in obligations to this Participation Agreement by giving written Notice to each other Party notice of intent to terminate, as well as reasons for terminating (which shall be in terminate to the sole discretion of the terminating party), other Parties at least one (1) year prior to the effective termination date. Notwithstanding the above, any A withdrawing Party shall have a duty to must fulfill all obligations and duties of their Implementation Agreements unless such Agreements are terminated in accordance with their provisions. Any Party terminating participation shall be is ineligible for future Wake Orange County Transit Tax Revenue Funding or other Locally Dedicated Transit Funding Sources for any Implementation Element until and unless the Party re-enters into the Participation Agreement.