Common use of TERMS OF UNDERSTANDING Clause in Contracts

TERMS OF UNDERSTANDING. The term of this Memorandum of Understanding shall be for a period of 5 years from the aforementioned effective date and maybe extended upon written mutual agreement of both Parties.

TERMS OF UNDERSTANDING. The term of this Memorandum of Understanding shall be for a period of 5 years Five Years from the aforementioned effective date and maybe extended upon written mutual agreement of both Partiesparties.

TERMS OF UNDERSTANDING. The term of this Memorandum of Understanding shall be for a period of 5 years 1 year from the aforementioned effective date Effective Date and maybe extended upon written mutual agreement of both Parties.