Term and Termination Clause Example from Business Contracts

Term and Termination. This Agreement shall commence on the Effective Date and continue until terminated by a Party in accordance with this Section 13.1 (the "Term"). The Service Provider may terminate this Agreement at its discretion by giving written notice to the Service Recipients at least ninety (90) days before the proposed termination date. Each Service Recipient may terminate this Agreement 13 solely with respect to itself at its discretion by giving written notice to the Service Provider at least ninety (90) ...days before the proposed termination date. Article 1, Article 5, Article 6, Article 7, Section 9.4, Article 10, Article 12, Section 13.2 and Article 15 shall survive the termination of this Agreement. Each Service Recipient hereby specifically agrees and acknowledges that all obligations of the Service Provider to provide any and all Services shall immediately cease upon termination of this Agreement. The Service Provider hereby specifically agrees and acknowledges that all of its rights to use Marks pursuant to Article 8 of this Agreement shall cease after a reasonable and mutually-agreed wind-down period commencing upon termination of this Agreement. To the extent permitted by applicable law, no Party shall be liable to another Party for, and each Party hereby expressly waives any right to, any termination compensation of any kind or character whatsoever, to which such Party may be entitled solely by virtue of termination of this Agreement. 13.2 Rights and Duties on Termination. Upon termination of this Agreement for any reason, each Party shall cease all use of the other Parties' Confidential Information, and the Service Recipients shall pay the Service Provider all accrued and unpaid fees for Services performed through the date of termination. View More