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- Effective Date, Term of Agreement, and Withdrawal
Effective Date, Term of Agreement, and Withdrawal
Descriptive NoteAgreements regularly include provisions for determining when and how an agreement becomes effective, the duration of the agreement, and how a party may withdraw from the agreement.
Optional sample provisions
- This agreement is made and entered into this __ day
of _________ by and between Party A and Party B.
- This Agreement will begin on _____________, and will
terminate on _____________.
- This Agreement is effective upon its execution or adoption
by any two Parties, and is effective as to any other Party
upon its execution or adoption thereby. The Agreement may
be executed in multiple counterparts or duplicate originals,
each of which shall constitute and be deemed as one and
the same document.
- This Agreement will be reviewed annually and continued
unless terminated by a Party by delivering written notice
to the other Parties at least 30 days prior to termination.
- The initial term of this Agreement shall be five years.
After the initial term, the Agreement shall automatically
be renewed on a year-to-year basis. Any Party may terminate
this Agreement by providing at least thirty (30) days written
notice of intent to terminate participation in the Agreement
to all other Parties to the Agreement.
- This Agreement shall continue in force and remain binding
on each Party until such Party takes action to withdraw
from the Agreement. Such action shall not be effective until
sixty (60) days after notice of withdrawal has been sent
to all other Parties.
- Withdrawal of any Party from this Agreement is effective
30 days after written notice of intent to withdraw is sent
to the other Parties.