The survival clause defines the contractual provisions that will remain in force after the termination or expiry of the contract. A survival time within a provision can be important for a number of reasons, depending on the details of your agreement. For example, if you want a clause to survive 5 years after termination, make sure this is due to the fact that survival terms and clauses are often unilateral and are used unfairly by interested parties. For some disclosure parties, this tactic has paid off. For others, it cost them more defensive lawyers` fees than it was worth. Instead of using a survival clause, a simpler and preferred approach is to specifically look after the survival of each section or clause intended to survive. Under these essential obligations, the survival clause can be very specific to business, with insurance, guarantees and other commitments. Maintenance of insurances, guarantees and covenants. The warranties, guarantees and assurances of the parties contained in this Agreement or in a certificate they provide under this Agreement shall survive for [survival period] during [survival period]. In this sense, my goal is to try to understand what a survival concept is, what it looks like in NDas and how it should be used fairly in your agreements.
The survival clause may be interpreted by some jurisdictions as a limitation period for the lodging of an appeal against another, while others hold that the parties cannot reduce the statutory limitation period for filing an appeal. . . .