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Each state and jurisdiction interprets survival clauses somewhat differently, with some viewing them more narrowly or broadly than others. You should be aware of your jurisdiction`s opinion on this matter. For example, despite the use of the survival clause below, Article 7 is likely to survive for six years, although the survival period of Section 11.6 indicates another period. The more specific you are, the more likely you are to enforce the terms of the survival clause. The survival clause may remain enforceable and binding for a specified period after the performance of the obligations under the treaty. The survival clause defines the contractual provisions that will remain in force after the termination or expiry of the contract. If the determination of survival is that the bonds last 3 years, that`s clear. If you indicate that certain rights exist within 3 years of the expiry of the contract, does this mean that you must declare your rights to the other party within three years or take legal action within three years? While fun, there is a reasonable scenario for this language. Assuming that the main contract is that one party buys items from the other as price and price. It is recognized that the terms and conditions may change, so that one or the other does not wish to continue the contract.
There could be conditions under which a party could terminate the contract, perhaps with the payment of a penalty. These provisions could be the protection of intellectual property, the use of trademarks or others….