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5 %1 <br />2. Term. The initial term of this Agreement shall commence at 12:01 a.m. on the date <br />executed and signed and shall automatically .renew for successive one -year terms unless <br />sooner terminated in accordance with the provisions of this Agreement. The terms, <br />conditions, and general provisions set forth below shall apply to the initial term and all <br />renewals. <br />3. Termination. <br />a. By the Cooperative Member. This Agreement may be terminated by the <br />Cooperative Member at any time by thirty (30) days prior written notice to the <br />Cooperative; provided all charges owed to the Cooperative and any vendor have <br />been fully paid. <br />b. By the Cooperative. The Cooperative may terminate this Agreement by: <br />L Giving ten (10) days notice by certified mail to the Cooperative Member if <br />the Cooperative Member fails or refuses to make the payments or <br />contributions as herein provided; or <br />ii. Giving thirty (30) days notice by certified mail to the Cooperative Member. <br />C. Termination Procedure. If the Cooperative Member terminates its participation <br />during the term of this Agreement or breaches this Agreement, or if the <br />Cooperative terminates participation of the Cooperative Member under any <br />provision of this Article, the Cooperative Member shall bear the full financial <br />responsibility for any purchases occurring after the termination date, and for any <br />unpaid charges accrued during its term of membership in the Cooperative. The <br />Cooperative may seek the whole amount due, if any, from the terminated <br />Cooperative Member. The Cooperative Member will not be entitled to a refund of <br />membership dues paid. <br />4. Payments. <br />a. The Cooperative Member agrees to pay membership fees based on a plan <br />developed by the Cooperative. Membership fees are payable by Cooperative <br />Member upon receipt of an invoice from the Cooperative, Cooperative Contractor <br />or vendor. A late charge amounting to the maximum interest allowed by law, but <br />not less than the rate of interest under Section 2251.021, et seq., Texas <br />Government Code, shall begin to accrue daily on the 31st day following the due <br />date and continue to accrue until the contribution and late charges are paid in full. <br />The Cooperative reserves the right to . collect all funds that are due to the <br />Cooperative in the event of termination by Cooperative Member or breach of this <br />Agreement by Cooperative Member. <br />Page 2 of 6 <br />