Cancellation of Contracts

This contract shall continue and be in force until _________, 20__, during all of which time it shall not be canceled by either of the parties, unless the other parties violate its provisions. Neither the first nor second parties shall have the right to cancel on account of any violation by the other of them, and, in the event a violation is charged, the party violating shall have the right to immediately purge itself of the violation, or submit the question of the violation to arbitration, in which event the first and second parties shall select one arbitrator, the third party shall select an arbitrator, and the two jointly shall select a third. In the event the arbitrators find that the contract has been violated, and the violator does not immediately purge itself of the violation, then, if either the first or second party has violated it, the third party may terminate, or if the third party has violated it, either the first or second party may terminate it upon giving notice in writing of the intention to cancel by a letter addressed to the other parties, and sent by registered mail, providing the notice of intention to cancel shall be given _________ days before the time fixed for cancellation.

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