Article 16 - Term
1) This Agreement shall be effective for one (1) year from the date first above written unless terminated earlier in accordance with Article 15(2) or Article 17, and shall be extended automatically for a successive term of one (1) year, and thereafter on a year to year basis, unless either Party expresses its intention not to renew or continue this Agreement by a written notice to the other Party at least three (3) months prior to the expiration of the original term or any such extended term of this Agreement and also Purchaser have the right to take back a molds in the good conditions by seller absorbed transportation costs.
2) In the event there is any valid Individual Contract between Parties at the time of termination or expiration of this Agreement, this Agreement shall remain effective for such Individual Contract for the duration of such Individual Contract.