Common use of Validity, Termination and Renewal of the MoU Clause in Contracts

Validity, Termination and Renewal of the MoU. 4.1 This MoU is valid and shall remain in effect for a period of three (3) years from the date of this MoU regardless of the diverse dates the Parties may have signed this MoU. 4.2 Either Party may terminate this MoU by giving one (1) month’s written notice to the other Party. Notwithstanding the expiry or the earlier termination of this MoU, the obligations of the Parties in clause 2 herein shall survive and remain binding on the Parties for a period of three (3) years from the expiry or the earlier termination of this MoU (as the case may be) or, the expiry or the earlier termination of the renewed period (as the case may be) as provided in clause 4.3 herein. 4.3 This MoU may be renewed upon the mutual agreement of both Parties.