Common use of Automatic Renewal of Fixed Term Licenses Clause in Contracts

Automatic Renewal of Fixed Term Licenses. The following replaces the paragraph that begins “IF IBM DOES NOT RECEIVE SUCH AUTHORIZATION BY THE EXPIRATION DATE": IBM will renew, for an additional payment, expiring Fixed Term Licenses for all of Customer’s Program licenses for the same duration as the expiring term if IBM or Customer’s reseller receives (1) Customer’s order to renew (e.g., order form, order letter, purchase order) prior to the expiration of the current term or (2) Customer’s payment within 30 days of Customer’s receipt of the Fixed Term License invoice for the next term.

Automatic Renewal of Fixed Term Licenses. The following replaces the paragraph that begins “IF IBM DOES NOT RECEIVE SUCH AUTHORIZATION BY THE EXPIRATION DATE": IBM will renew, for an additional payment, expiring Fixed Term Licenses for all of Customer’s Customer‟s Program licenses for the same duration as the expiring term if IBM or Customer’s Customer‟s reseller receives (1) Customer’s Customer‟s order to renew (e.g., order form, order letter, purchase order) prior to the expiration of the current term or (2) Customer’s Customer‟s payment within 30 days of Customer’s Customer‟s receipt of the Fixed Term License invoice for the next term.