Common use of Basic Term Clause in Contracts

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 2017, unless terminated pursuant to this Section 2. On December 31, 2017, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date January 1, 2012 and continue through December 31, 20172012, unless terminated pursuant to this Section 2. On December 31, 20172012, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date July 31, 2012 and continue through December 31, 20172012, unless terminated pursuant to this Section 2. On December 31, 20172012, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting “July 31” and inserting in its stead “January 1” and deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 20172019, unless terminated pursuant to this Section 2. On December 31, 20172019, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date February 15, 2017 and continue through December 31, 2017, unless terminated pursuant to this Section 2. On December 31, Commencing in 2017, and on the last day of December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting “February 15” and inserting in its stead “January 1” and deleting each year then appearing therein and inserting in each place the next subsequent year, such that this Agreement shall be deemed to have been renewed each year prior to the expiration of the current term.

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 2017, unless terminated pursuant to this Section 2. On December 31, 20172015, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 20172023, unless terminated pursuant to this Section 2. On December 31, 20172023, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date January 1, 2017 and continue through December 31, 2017, unless terminated pursuant to this Section 2. On December 31, Commencing in 2017, and on the last day of December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year, such that this Agreement shall be deemed to have been renewed each year prior to the expiration of the current term.

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 20172021, unless terminated pursuant to this Section 2. On December 31, 20172021, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting each year then appearing therein and inserting in each place the next subsequent year.

Basic Term. The term of this Agreement shall commence on the Effective Date March 1, 2016 and continue through December 31, 20172016, unless terminated pursuant to this Section 2. On Commencing in 2016, on the last day of December 31, 2017, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting “March 1” and inserting in its place “January 1” and by deleting each year then appearing therein and inserting in each place the next subsequent year, such that this Agreement shall be deemed to have been renewed each year prior to the expiration of the current term.

Basic Term. The term of this Agreement shall commence on the Effective Date and continue through December 31, 20172024, unless terminated pursuant to this Section 2. On December 31, 20172024, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by to provide that the parties by deleting term of the Agreement shall be renewed for a one-year period commencing on the next January 1 and continuing through December 31 of the same year, such that this Agreement shall be deemed to have been renewed each year then appearing therein and inserting in each place for a one-year period prior to the next subsequent yearexpiration of the current term.

Basic Term. The term of this Agreement shall commence on the Effective Date February 16, 2016 and continue through December 31, 20172016, unless terminated pursuant to this Section 2. On Commencing in 2016, on the last day of December 31, 2017, and on December 31 of each succeeding year, the first sentence of this Section 2.2 shall be automatically amended without any action by the parties by deleting “February 16” and inserting in its stead “January 1” and deleting each year then appearing therein and inserting in each place the next subsequent yearyear such that this Agreement shall be deemed to have been renewed each year prior to the expiration of the current term.