If the agreement contains the right of extension, make sure that the terms of renewal are clearly defined. More confidential information. With respect to any other confidential information, the obligations under this agreement will begin on the effective date and continue for a period of [TERM OF OBLIGATION]. The duration of the agreement usually begins from its entry into force. Caution should be exercised if you choose to start the term on another date. A clause on the duration of the contract, also known as the maturity clause, is a provision that describes the duration of the contract. Clauses are generally included in employment contracts. A survival clause describes the obligations that remain below the duration of the contract. For example, when a confidentiality clause is contained in a contract, the parties normally have to comply with that clause even after the end of the contract. [PARTY A]s option. After the expiry or end of the agreement, [PARTY A] may acquire from [PARTY B] certain or all of the assets [PARTY B] used in the franchise business. There are several clauses that a contract may contain regarding the expiry clause: the reference clause often contains a renewal option.

Others, for example. B an end-user license agreement, may simply provide an indeterminate period, with both parties having the right to terminate the contract under defined conditions. The termination effect highlights the impact of the end of the agreement on each party`s obligations and how shared documents and documents must be returned at the end of the agreement. As a general rule, the end of the agreement ends with all the obligations of the parties. However, it should not excuse a party`s commitment to make payments to the other party at the end of the agreement. This is mentioned in the “Effect of Termination” clause. As a general rule, the EULAs are effective until termination and grant the licensee a permanent right to use the Software. Agreements rarely define the respective version of the software. However, it may be preferable to grant a permanent license to a given version, to set the rights for subsequent updates and maintenance packages, and the price of those versions. If you want to define a period or term in which an agreement takes effect, you must use a permanent clause. These clauses not only describe the duration of a contract, but also describe the circumstances of the early expiration of the effective period.

Similarly, certain obligations should be maintained after the end of the agreement, in line with the main objective of the agreement. This is addressed in the survival clause, which explains what obligations “survive” at the end of the agreement and for how long. For example, it is customary for confidentiality obligations to survive at the end of an agreement.