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Termination Or Expiry Of Agreement

By Zach Arnold | December 18, 2020

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The expiry date is the end of an agreement in accordance with its terms, without the action of a party. The expiry is usually made at the end of a defined period – z.B. a lease may expire at the end of a year. However, the expiry date may be related to other events. For example, a patent licensing agreement may expire if the underlying patent expires. On the other hand, it is even easier to find the language of the treaty, indicating that the process is not a form of termination. To choose a random example, a contract filed last week through the SEC`s EDGAR system contains: “All of these taxes and expenses are billed without delay between the parties at the conclusion, end or expiry of another procedure under this agreement.” If expiry is a form of termination, logic would require an “or the course of” to be omitted. Countless similar examples are readily used. But that doesn`t mean you should emulate them.

The termination is the end of an agreement as a result of a party`s action. For example, an agreement may provide that each party can terminate it after ten days of written termination if the other party violates the agreement and does not cause the violation during the ten days of notice. Despite conflicting conditions in a franchise agreement, a franchisor could impose a non-compete clause when the contract has ended, either by termination or by expiry. An arbitrator reached this conclusion by harmonizing two provisions of the franchise agreement that dealt with a non-competition obligation, one relating to termination and the other concerning termination and expiry. This was a reasonable interpretation of the contract, according to the Federal Court for the District of Maryland, which found no basis for disrupting the sentence. Why difference matters: A carefully crafted agreement may stipulate that a party`s rights deviate from its rights after termination at expiry. For example, one of my clients has a licensing agreement whereby the customer incorporates parts from a popular board game into jewelry. When the contract expires, the customer can sell the remainder of the stock for 60 days after the contract expires. On the other hand, if the contract is terminated by the licensee for violation by the licensee, there is no liquidation period.

At a recent seminar, one participant questioned one of my model provisions, namely the end of this agreement on August 23, 2007. The participant submitted that the termination led one or more parties to terminate a contract earlier than it otherwise terminated; he said that, in this case, using the right word would have expired. The definitions of termination and termination in the Dictionary of Black Law correspond to the notion that termination implies expiry.

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