Wells Fargo 6/8/2016 - Laserfiche WebLink

AGREEMENT TERM AND TERMINATION 17. TERM OF AGREEMENT AND SURVIVORSHIP OF TERMS This Agreement shall commence on ..5.1),-1.1 ( Z()1 10 and continue until March 31, 2020 (or thereafter pursuant to extensions provided for in this paragraph),unless the Bank is no longer serving as Statewide Custodian, in which case this Agreement shall terminate upon the termination or expiration of the Bank's service as Statewide Custodian. Annually the term of this Agreement will be automatically extended for a period of one year, with the total contract period including extensions not to exceed eight years. The Bank is not obliged to offer this contract for a time period of less than one year. 18. TERMINATION AND REMEDIES 18.1 Termination for Convenience. The Agency may terminate this Agreement, in whole or in part, at any time and for any reason by giving 90 calendar days' written termination notice to the Bank. The Bank may terminate this Agreement, by giving 180 days' written termination notice to the Agency. 18.2 Termination for Reduction of Funding or Withdrawal of Authority. In the event that either funding from the Agency or other sources is withdrawn, reduced, or limited, or the authority of the Agency to perform any of its duties is withdrawn, reduced, or limited in any way after the effective date of this Agreement and prior to its normal completion, the Agency may terminate this Agreement, in whole or in part, at any time by giving 60 calendar days' written termination notice to the Bank. 18.3 Termination for Breach. Except in the case of delay or failure resulting from circumstances beyond the control of and without the fault or negligence of the Bank or of the Bank's suppliers or Subcontractors, the Agency shall be entitled, by written or verbal notice, to cancel this Agreement in its entirety or in part, for breach of any of the terms herein, and to retain all other rights against the Bank by reason of the Bank's breach as provided by law. A breach shall mean one or more of the following events: (1)the Bank fails to perform the services by the time and date required and such failure is not caused by a force majeure event; (2)the Bank breaches any warranty, or fails to perform or comply with any term in the Agreement; (3)the Bank fails to exercise Due Care as to any aspect of this Agreement, with Due Care being defined in subsection 30.1; or (4)the Bank makes any general assignment of the assets held pursuant to this Agreement for Statewide Custody Provider Program Agreement for Custody Services 7