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0915reg Posted 13 years ago
Business & Finance
Duration of a business contract....
Hi friends, I'm wondering
(1)when will this contract expire?
(2)when will the obligations of keep secret expire?
Please advise. Thank you~
1. This contract will continue in full force and effect until (i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction, or (ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination of such definitive agreement in accordance with its terms, but in each case without affecting the liability of either party hereto for any breach of this contract before such date. This contract will be binding upon all successors to and permitted assigns of the parties.
2. Notwithstanding any other provision of this contract, the obligations of the parties with respect to any Confidential Information constituting a business secret will be of unlimited duration and will survive termination or expiry of this contract and the term set forth in Clause 1 above.
(1)when will this contract expire?
(2)when will the obligations of keep secret expire?
Please advise. Thank you~
1. This contract will continue in full force and effect until (i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction, or (ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination of such definitive agreement in accordance with its terms, but in each case without affecting the liability of either party hereto for any breach of this contract before such date. This contract will be binding upon all successors to and permitted assigns of the parties.
2. Notwithstanding any other provision of this contract, the obligations of the parties with respect to any Confidential Information constituting a business secret will be of unlimited duration and will survive termination or expiry of this contract and the term set forth in Clause 1 above.
Top answer
(1)when will this contract expire? On (i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction, or (ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination of such definitive agreement in accordance with its terms (2)when will the obligations of secrecy expire Never. But I'm not a lawyer, so I could be totally wrong!
- (1)when will this contract expire?
- On (i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction, or (ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination of such definitive agreement in accordance with its terms (2)when will the obligations of secrecy expire Never.
- But I'm not a lawyer, so I could be totally wrong!
- You should check with a lawyer.
- Clive
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3 Answers
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(1)when will this contract expire?
On
(i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction,
or
(ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination
On
(i) the date that is 3 years from such time as the parties have ceased discussions with respect to the potential arrangement or transaction,
or
(ii) if the parties have entered into a definitive agreement, the date that is 3 years from the expiration or termination
00
Hi, Clive,
Thanks.
About question 2, I have the same thought as you.
About question 1, I have grammatical confusion. I know this contract expires on two conditions.
Thanks.
About question 2, I have the same thought as you.
About question 1, I have grammatical confusion. I know this contract expires on two conditions.
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It's not difficult grammar. It's a difficult meaning because of the legalistic terms.
You need to talk to a lawyer.
Clive
You need to talk to a lawyer.
Clive
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