ARTICLE 11
COMING INTO FORCE AND
PERIOD OF VALIDITY OF THE AGREEMENT
This Agreement is concluded for 5 (five) years of time from signed (“Effective Date”) and and shall thereafter be extendable in accordance with the mutual agreement of the PARTIES.
ARTICLE 12
TERMINATION OF THE AGREEMENT
1. This Agreement may be terminated for the first time at the end of the contract period as specified in 11.1.
2. This Agreement can be terminated upon written agreement from the PARTIES and/or upon the occurance of important reasons for giving termination notice are in particular:
a. If the other contractual party culpably violates essential obligations of this Agreement, or falls behind with the fulfillment of contractual obligations and despite a letter of reminder refrains from stopping the infringement of the agreement or the delay within sixty (60) days from the letter of reminder.
b. If the other party declares itself bankrupt, becomes insolvent or goes into liquidation.
c. If an agreement on manufacturer selling prices as stipulated in Appendix 1 hereof cannot be reached.
d. If the Marketing Approval is suspended or expires officially.