Common use of Validity of this MoU Clause in Contracts

Validity of this MoU. This MoU shall be valid for 5 (five) years from the date of its signature by all Parties. This MoU can be extended at any time by mutual consent and a renewal of the signature by all Parties, upon when the validity of 5 (five) years shall be reset, unless indicated otherwise. The validity of this MoU will shall be terminated in case of the signature and coming to power of the Consortium Agreement stipulated in Article 4. The termination of this MoU can also be initiated by the request of any of the Parties, subject to the agreement of the remaining Parties, whereupon the validity of this MoU shall be terminated no earlier than 1 (one) calendar month after such agreement is made.

Validity of this MoU. This MoU shall be valid for 5 (five) years from the date of its signature by all Parties. This MoU can be extended at any time by mutual consent and a renewal of the signature by all Parties, upon when the validity of 5 (five) years shall be reset, unless indicated otherwise. The validity of this MoU will shall also be terminated in case of the signature and coming to power of the Consortium Agreement stipulated in Article 4. The termination of this MoU can also be initiated by the request of from any of the Parties, subject to the agreement of the remaining Parties, whereupon the validity of this MoU shall be terminated no earlier than 1 (one) calendar month after such agreement is made.