A. Term. The term of each franchise agreement shall be for the period of time established in the agreement, unless otherwise extended by agreement of the parties, or terminated or revoked in accordance with the terms of the agreement.
B. Acceptance. Each franchise, as well as all rights, privileges, obligations and authority granted in a franchise agreement, shall become effective upon the authorization of the corporate authorities of the Village for the execution of the franchise agreement, and the parties' execution of the franchise agreement. By execution of the franchise agreement, the parties promise to comply with and abide by all provisions, terms and conditions of the franchise agreement.
(MC-10-2007, Added, 07/10/2007)