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It is a very specific provision in a legal agreement that relates to an important point of understanding between the parties engaged in the contract. A clause dictates certain conditions under which the parties agree to act during the term of the contract.
Each Party may, on a Product-by-Product basis, exercise its Opt-Out Option with respect to any Collaboration Product by providing an Opt-Out Notice to the other Party during one of the following periods: (a) the period beginning with the for such Collaboration Product and ending later; (b) the period
Definition. Contract withdrawal is a method to terminate negotiation, prevent future presentation and execution, or to record the contract's state of non-acceptance.
The Withdrawal or Withdrawal of Funds clause in an Employee Stock Purchase Plan stipulates to the right of Participant to withdraw not less than all of the contributions made at any time before each purchase date, terminating the option for the current period.
The right of withdrawal allows the consumer to change his mind about the purchase made, freeing himself from the contract concluded without giving any reason. In this case, the consumer can return the goods and obtain a refund of the amount paid.