Common use of Terms of Agreement and Termination Clause in Contracts

Terms of Agreement and Termination. This Agreement shall be effective as of the date first above written and shall continue enforce until or terminated by one party hereto giving to the other party not less than thirty (30) days written notice by registered or certified mail. If issuance of notice to terminate this Agreement is given by either party, the Representative shall forthwith cease to actively solicit new quotations and shall devote its efforts to outstanding quotations. The Representative may continue to accept, in the name of the Manufacturer, Orders based on quotations made prior to the date of the termination notice throughout a thirty (30) day period, but no new quotations will be issued by or credited to the Representative after notice to terminate has been duly given. Either party may terminate this Agreement immediately if the other party becomes insolvent, bankrupt, or makes an assignment for the benefit of creditors.

Terms of Agreement and Termination. This Agreement shall be effective as of the date first above written and shall shag continue enforce in force until or terminated by one party hereto giving to the other party not less than thirty (30) days written notice by registered or certified mail. If issuance of notice to terminate this Agreement is given by either party, the Representative shall shag forthwith cease to actively solicit new quotations and shall shag devote its efforts to outstanding quotations. The Representative may continue to accept, in the name of the Manufacturer, Orders based on quotations made prior to the date of the termination notice throughout a thirty (30) day period, but no new quotations will be issued by or credited to the Representative after notice to terminate has been duly given. Either party may terminate this Agreement immediately if the other party becomes insolvent, bankrupt, or makes an assignment for the benefit of creditors.