Extension to new conditions. If [PART B] opts for an extension in accordance with paragraph [RENEWAL OPTIONS], the parties shall enter into a new franchise agreement under [PARTY A`s] franchise agreement in force for that purpose. Option of [PARTY A]. Upon expiration or termination of this Agreement, [PART A] of [PARTY B] may acquire some or all of the assets [PART B] used in connection with the franchise. Initial deadline. This Agreement shall commence on [Date of Entry into Force / [DATE, MONTH]] and shall continue for [months] if it is not terminated earlier (the “Initial Term”). The expiry clause defines the period during which the contract is effective, subject to prior termination, in accordance with its conditions. Not all agreements have a defined duration (e.g.B. purchase and sale contracts). But many of those who do also give one or two parties the right to extend the agreement with one or more additional terms. Over the years, owners have attempted to introduce long-term agreements with service providers outside the consultation regime in such a way as to limit a fixed or fixed term to 12 months or less. A recent case of the Obergerichtshof showed that this was not easy.
Similarly, certain obligations should be maintained even after the termination of the agreement, including depending on the main objective of the agreement. This is addressed in the survival clause, which explains which obligations “survive” at the end of the agreement and how long. For example, it is customary that confidentiality obligations will survive the end of an agreement. Every employee wants to know exactly how long their job will last, which is why it`s important to determine if your employer can fire you without notice or if you`re insured by a fixed-term contract. Most employees think they can be any employee, which means they can be fired at the discretion of their employer, a fixed-term contract worker. In reality, there are a large number of job opportunities, which means that employees should be very careful in negotiating the duration of their employment. Other confidential information. In combination with any other confidential information, the commitments of this Agreement shall commence on the date of entry into force and shall continue for a period of [commitment period]. To qualify for QLTA, an agreement (among others) must be an agreement with a duration of more than 12 months.
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