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 Loans. The agreement of each Tranche B Lender to make the Original Tranche B Loans requested to be made by it is subject to the satisfaction, prior to or concurrently with the making of such Original Tranche B Loans, of the following conditions precedent, provided that the requirements of this Section 3.01 shall not apply to matters referred to in Section 5.14:

Initial Eligibility. An Eligible Employee shall enter the Plan as of the Entry Date coincident with or next following the date on which the Eligible Employee satisfies both the age and Service requirements. An Employee will be an Eligible Employee on or after the date that the Employee has both attained age 21 and completed an Eligibility Year. Notwithstanding the foregoing, an Employee who is an Eligible Employee on or prior to the Closing Date shall enter the Plan, retroactively, on the Effective Date.

Initial Shares. As used herein, “Initial Shares” means 38,052 shares of the Class, subject to adjustment from time to time in accordance with the provisions of this Warrant.

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.

For a […​…] day period after a notice is given, each Disputant must use all reasonable endeavours to resolve the Dispute and the CEO of each Disputant, or their designee, will meet within the first […​…] days of that period with that aim. Such resolution, if any, of a Dispute shall be final and binding on the parties. All negotiations pursuant to this clause 25 are confidential and shall be treated as compromise and settlement negotiations for purposes of applicable rules of evidence.

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.

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