Example ContractsClausesInitial Term; Renewal Terms
Initial Term; Renewal Terms
Initial Term; Renewal Terms contract clause examples
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Renewal Option. The renewal option provided for in Article 22 of the Lease (as added to the Lease by Paragraph 7 of the Fifth Amendment) shall apply to the entire premises covered by the Lease (which is the Existing Premises, the Additional Third Floor Premises plus the Additional Fourteenth Floor Premises) and may not be exercised for only a portion thereof.

At least nine months before the end of the lease, the parties must inform each other in writing of their intention to terminate or renew it; their silence in this regard is considered acceptance to continue it for a period of five years, with all conditions of this lease remaining in force, and so forth, from one five-year period to the next.

Non-Renewal. In the event that the Company elects not to renew the term of this Agreement as provided in Section 1.1, or if Employee elects not to renew the term of this Agreement as provided in Section 1.1, then Employee shall have no further rights against the Company hereunder, except for the right to receive, subject to execution of a Release and Waiver in the case of [clauses (iii), (x), (y) and (z)])])] below, # any earned but unpaid Base Salary and the value of any accrued but unused vacation, # reimbursement of expenses to which Employee is entitled under Sections 2.4, 2.5 or 2.88] hereof, and (iii) (x) any previously earned Performance Bonus for a prior Bonus Year which has not been paid, # any annual Performance Bonus due for the calendar year in which the non-renewal occurs, prorated based on the number of days Employee was actively employed by the Company during such year, payable at the time the such Performance Bonus would otherwise be paid in accordance with such Section 2.2, and # whatever rights as to stock options or other equity awards Employee may have pursuant to the 2015 Option Agreement, the Matching PRSU Agreement, the Project 650 PRSU Agreement, Base RSU Agreement or any other stock option agreements or other equity award agreements with the Company.

Term of Agreement. This Agreement will become effective on the Effective Date and will continue for an initial period of three (3) years thereafter (the “Initial Term”), unless terminated earlier by the Consultant for any reason upon providing thirty (30) days’ prior written notice to the Company. The Initial Term may only be terminated prior to its expiration by the Company for Cause upon written notice. The Initial Term shall automatically extend for additional successive twelve (12) month periods (each period is a “Renewal Term” and collectively, the Initial Term as it may be terminated or extended by any Renewal Term is herein referred to as the “Term”) unless either party provides to the other party written notice of such party’s intent not to renew the then-current Term for an additional twelve (12) month period at least thirty (30) days prior to the expiration of the then-current Term. During any Renewal Term, either party may terminate this Agreement for any reason upon providing thirty (30) days’ prior written notice to the other party. Notwithstanding the foregoing, the Company may immediately terminate this Agreement for Cause upon written notice to the Consultant, and the Consultant may immediately terminate this Agreement without providing thirty (30) days’ prior written notice in the event the Company breaches any of its material obligations hereunder, and the Company fails to cure such breach within five (5) days of receipt of notice of the breach from the Consultant.

The Original Term of Employment shall be automatically renewed for successive one-year terms (the “Renewal Terms”) so long as does not, prior to 60 days before such expiration date, deliver a notification of non-renewal to stating that is electing to terminate this Agreement at the expiration of the then current Term of Employment. “Term of Employment” shall mean the Original Term of Employment and all Renewal Terms. In the event that this Agreement is not renewed because has given the 60-day notice prescribed in the preceding paragraph on or before the expiration of the Original Term of Employment or any Renewal Term, such non-renewal shall be treated as a “Termination Without Cause” as set forth in Section 5; provided that is willing and able to execute a new contract providing terms and conditions substantially similar to those in this Agreement and to continue providing services to .

Term of Employment. The Term of employment hereunder will commence on the Effective Date and terminate five (5) years from the Effective Date (the "Term"), unless terminated earlier pursuant to Section 5 of this Agreement. The Term shall automatically renew ("Renewal Term") for successive one year terms, unless written notification of non-renewal is provided by either party no less than 30 days prior to the expiration of the Term or the then current Renewal Term.

Exclusivity. Buyer agrees that, for the Initial Term or any Renewal Term(s) of this Agreement, Buyer will purchase the Hemp Extracts from Supplier provided that Supplier’s pricing for Hemp Extracts is competitive with other supplies of the same quality of Hemp Extracts and subject to the terms and conditions set forth herein. Nothing contained in this Agreement shall prohibit Supplier from selling any of its Hemp Extracts to any third parties.

Consultant shall provide Consulting Services to the Company as may be designated by the Company in writing from time to time such as but not limited to services of a general nature including providing guidance and advisory services to Operations, Project Services & Fleet Engineering focusing on safety and operational challenges, performing consulting projects to be approved by the CEO, and conducting a check-in with CEO or CHRAO one time per month (“the Services”). The term of Consultant’s engagement under this Consulting Agreement shall commence on the Effective Date and shall continue for a period of # months (“Initial Term”). This Consulting Agreement may be renewed for successive six (6) month terms upon written notice from the Company at least ten (10) days prior to the end of the Initial Term or any subsequent renewal term (each a “Subsequent Term”). If not renewed, this Consulting Agreement shall automatically terminate upon the conclusion of the then applicable Initial Term or Subsequent Term. The Initial Term and any Subsequent Term shall be collectively referred to as the “Consulting Term.”

“1.4 Term. The term of the Partnership began on March 1, 1996 and, unless sooner dissolved and terminated under the provisions of the Partnership Agreement, shall continue until February 28, 2022 or, if applicable, the last day of an additional term or an Extended Term, and thereafter shall be extended automatically for additional one-year terms unless at least one year prior to the expiration of the initial term, an Extended Term or an additional term (as applicable) (the date which is one year prior to the expiration of such term, a “Renewal Notice Date”) either Partner gives notice to the other Partner of its intention not to extend the term, in which event the Partnership shall dissolve in accordance with the terms of the Partnership Agreement upon expiration of the then current term. If either Partner gives notice to the other Partner at least 90 days prior to a Renewal Notice Date of its intention to extend the term for an additional five-year term (such term, an “Extended Term”) and the other Partner agrees in writing to such Extended Term prior to such Renewal Notice Date, then the Partnership shall continue for such Extended Term until the last day thereof, subject to automatic extensions pursuant to the foregoing sentence. If the other Partner does not so agree in writing to such Extended Term, the term of the Partnership shall nevertheless be extended automatically for additional one-year terms pursuant to the first sentence of this [Section 1.4] unless, prior to a Renewal Notice Date, a Partner gives notice to the other Partner of its intention not to extend the term.”

Initial Grant. Following the effective date of this Plan, each Director shall, effective as of the date of such individual’s initial election or appointment to the Board, be granted a Restricted Stock Unit Award with a grant-date value of approximately $200,000, rounded down to the nearest whole share.

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