2006 Code of Virginia § 59.1-506.16 - Termination; survival of obligations

59.1-506.16. Termination; survival of obligations.

(a) Except as otherwise provided in subsection (b), on termination allobligations 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 theextent enforceable under other law;

(3) a contractual use term applicable to any licensed copy or informationreceived from the other party, or copies made of it, which are not returnedor 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 obligationto 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 alternativedispute 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 underthe accounting; and

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

(2000, cc. 101, 996.)