Example ContractsClausesInitial Term; Renewal Terms
Initial Term; Renewal Terms
Initial Term; Renewal Terms contract clause examples
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Selected Renewal Term” shall mean the renewal period commencing on July 15, 2015 and ending on July 15, 2036. The Lessor and the Lessee have agreed that the Selected Renewal Term shall be deemed to be a Renewal Term for all purposes of the Facility Lease and the other Transaction Documents.

Date (the “Initial Term”) and upon the expiration of the Initial Term, and each year thereafter, this Agreement shall renew automatically for an additional twelve (12) months (any such twelve (12) month extension, once in effect, along with the Initial Term, the “Term”) unless either Party provides written notice of non-renewal to the other Party at least three (3) months in advance of the then scheduled expiration of the Term (such period of employment, the “Term”). In the event that the Business Combination Agreement is terminated and transactions contemplated thereby are not consummated, this Agreement shall be of no further force or effect. Notwithstanding any contrary provision herein, Executive’s employment with the Company is “at will” and may be terminated by the Company or Executive at any time and for any or no reason.

Term B-1 ” means each Term Lender with an Additional Initial Term B-1 Commitment, an Additional Incremental Term B-1 Commitment, a Fourth Incremental Commitment or an outstanding Initial Term B-1 Loan, including each Person identified in [Schedule 1.01(A)] under the captions “Additional Initial Term B-1 Commitments”, “Additional Incremental Term B-1 Commitments” and “Fourth Incremental Term Commitment” (as amended pursuant to the terms of Amendment No. 8).

RIGHT OF TERMINATION: Tenant shall have the right and option during the Eighth Renewal Term to terminate the Lease and the term thereof as to the Building #3 Space only, subject to the following terms and conditions:

Initial Claim. In the event that an Employee, Director, Eligible Person, or Participant (or a person claiming through such Participant) claims to be eligible to participate in this Plan or to receive the settlement of RSUs deferred under this Plan, or claims any rights under this Plan, such claimant must complete and submit such claim forms and supporting documentation as will be required by the Plan Administrator, in its sole and absolute discretion. Likewise, any Participant (or a person claiming through such Participant) who feels unfairly treated as a result of the administration of the Plan, must file a written claim, setting forth the basis of the claim, with the Plan Administrator. In connection with the determination of a claim, or in connection with review of a denied claim, the claimant may examine this Plan, and any other pertinent documents generally available to Participants that are specifically related to the claim.

Initial Election. A Director’s Cash Account shall be paid in a lump-sum within 60 days after his/her Separation from Service; provided that the Director may elect (using a form approved by the Company) at the time of his/her initial Deferral Election to have his/her Cash Account paid in monthly installments over two to 20 years.

Initial Options. Each Non-Employee Director who is initially elected or appointed to the Board shall receive the Initial Option on the date of such initial election or appointment. No Non-Employee Director shall be granted more than one Initial Option.

Initial Options. Each Initial Option shall vest and become exercisable in thirty-six (36) substantially equal monthly installments following the date of grant, such that the Initial Option shall be fully vested on the third anniversary of the date of grant, subject to the Non-Employee Director continuing in service as a Non-Employee Director through each such vesting date.

Initial Claim. Claims for benefits under the Plan may be filed in writing with the Administrator. Written or electronic notice of the disposition of a claim shall be furnished to the claimant within ninety (90) days (45 days if the claim involves disability benefits and disability is not based on the Social Security Acts) after the application is filed, or such period as is required by applica ble law or Department of Labor regulation. Any electronic notification shall comply with the standards imposed by Department of La bor Regulation §2520.104b-1(c)(1)(i), (iii) and (iv) or any subsequent guidance. In the event the claim is denied, the reasons for the denial shall be specifically set forth in the notice in language calculated to be understood by the claimant, pertinent p rovisions of the Plan shall be cited, and, where appropriate, an explanation as to how the claimant can perfect the claim will be provided. In addi tion, the claimant shall be furnished with an explanation of the Plan's claims review procedure.

Initial Subleasing. Landlord acknowledges that Tenant may not occupy the entirety of the Premises upon the Term Commencement Date and that Tenant desires the ability to initially sublease a portion of the Premises with less restrictive approval conditions than those set forth in Paragraph 22.2. With respect to the initial subleasing only of that portion of the Premises not occupied by Tenant upon the Term Commencement Date, the grounds set forth in clauses (iii), (vii) and (viii) of Paragraph 22.2 on which it may be reasonable for Landlord to withhold its consent to a proposed Transfer shall not be applicable to # any sublease of the Premises for any portion of the Premises that is up to two (2) full floors of the Premises on any floors and for a term (including any options to extend the term) up to five (5) years or # any two (2) subleases of the Premises each for any portion of the Premises that is up to one (1) full floor of the Premises on any floor and for a term (including any options to extend the term) up to five (5) years. Any one or more subleases to the same Transferee or an entity which is Controlled by, Controls or is under common Control with such Transferee shall be treated as a single sublease for purposes of determining the applicability of the foregoing provision. Upon the initial subleasing of any portion of the Premises, the provisions of this Paragraph 22.9 shall not be applicable to such subleased premises upon any further subleasing of such subleased premises without regard to the term of the initial sublease (namely, if such initial term is up to five (5) years) and without regard to any early termination of such sublease. It is the intention of Landlord and Tenant that the provisions of this Paragraph 22.9 apply only to initial subleasing of any portion of the Premises.

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