§ 59.1-506.16

Termination; survival of obligations

(a. Except as otherwise provided in subsection (b), on termination all obligations that are still executory on both sides are discharged.

(b. The following survive termination:

(1. a right based on previous breach or performance of the contract;

(2. an obligation of confidentiality, nondisclosure, or noncompetition to the extent enforceable under other law;

(3. a contractual use term applicable to any licensed copy or information received from the other party, or copies made of it, which are not returned or returnable to the other party;

(4. an obligation to deliver, or dispose of information, materials, documentation, copies, records, or the like to the other party, an obligation to destroy copies, or a right to obtain information from an escrow agent;

(5. a choice of law or forum;

(6. an obligation to arbitrate or otherwise resolve disputes by alternative dispute resolution procedures;

(7. a term limiting the time for commencing an action or for giving notice;

(8. an indemnity term or a right related to a claim of a type described in § 59.1-508.5 (d) (1);

(9. a limitation of remedy or modification or disclaimer of warranty;

(10. an obligation to provide an accounting and make any payment due under the accounting; and

(11. any term that the agreement provides will survive.

History

2000, cc. 101, 996.

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