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Term of Option
Term of Option contract clause examples
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TERM. The term of this Rider shall commence on the Rider effective date set forth above and continue and remain in effect through ​ from the Rider effective date.

Term. This Agreement shall be effective as of the Effective Date and shall remain in effect for a period of three (3) years, unless sooner terminated as provided under this Agreement (the “Initial Term”). This Agreement shall automatically renew for additional one (1) year terms thereafter, unless either Party delivers written notice of non-renewal to the other Party at least ninety (90) days prior to the expiration of the initial or any renewal term or this Agreement is otherwise terminated as set forth herein.

Term. The term of this Agreement shall commence on the Effective Date, and, unless terminated earlier as provided in this Article 7, shall continue in full force and effect until the end of the third anniversary of the Effective Date (the “Term”).

Term. To have and to hold the Premises unto Tenant, its successors and assigns, for an initial term beginning on January 1, 2017 and ending on December 31, 2026, with the right to extend the term for an additional five (5) years (from January 1, 2027 to December 31, 2031) provided that Tenant gives Landlord written notice of such election not later than nine (9) months prior to the expiration of the initial term, and provided that Tenant is not in default under this Lease (beyond any applicable notice and cure periods) at the time such notice is given or at the time the extension term would otherwise begin. Such extension term, if any, shall be on the same terms and provisions of this Lease, including without limitation the Base Rent (which will continue to escalate as provided in Section 3.2 hereof) and Percentage Rent, but there would be no further extension right.

Term. The term of each Option shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Option exceed a period of ten years (or in the case of an Incentive Stock Option such shorter term as may be required under Section 422 of the Code).

Term. The term of each Stock Appreciation Right shall be for such period as may be determined by the Committee; provided that in no event shall the term of any Stock Appreciation Right exceed a period of ten years.

Term. Except as otherwise provided for hereunder, this Agreement shall commence on the date hereof and shall remain in effect for a period of three (3) years from the date hereof (the “Initial Term”) or until the end of the Contract Period, whichever is later. The Initial Term shall be automatically extended for an additional one (1) year period on the anniversary date hereof (so that the Initial Term is always three (3) years) unless, prior to a Change in Control, the Board notifies the Executive in writing at any time that the Contract is not so extended, in which case the Initial Term shall end upon the later of # three (3) years after the date hereof, or # two (2) years after the date of such written notice.

Term. Except as expressly provided otherwise in this Services Agreement, or with respect to specific services as indicated on the Schedules hereto, the term of this Services Agreement shall be for an initial period commencing at 12:01 a.m. on the date immediately following the date hereof and ending on January 31, 2019 (the “Initial Term”). Effective between the respective Provider and Recipient, the Initial Term may be extended for an additional period ending on the one-year anniversary of the date hereof, or such other period set forth on [Schedule A] or [Schedule B] (the “Renewal Term”) at the request of a Recipient by written notice from such Recipient to its Provider, with copies to [[Party:Organization]] and [[Party:Organization]]; any such notice shall be made not less than two months prior to the end of the Initial Term. The obligation of any Recipient to make a payment for services previously rendered shall not be affected by the expiration of the Initial Term or Renewal Term and shall survive such expiration and continue until full payment is made.

The term of each Free Standing Right shall be fixed by the Administrator, but no Free Standing Right shall be exercisable more than ten (10) years after the date such right is granted.

Term. The renewal term of this Agreement shall be the period beginning on the Effective Date and ending on December 31, 2021 unless terminated earlier pursuant to the terms of this Section 2 (the “Renewal Term”). This Agreement may be renewed for additional terms in such duration as the parties may mutually agree (each a “Renewal Term”). Absent mutually agreed renewal, this Agreement shall automatically terminate upon the expiration of the Renewal Term. The Renewal Term is referred to collectively herein as the “Term.” Upon expiration or termination of the Term under circumstances not involving Cause, death or Disability, Executive shall remain as an independent member of the Board.

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