Common use of Commencement Date; Term Clause in Contracts

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 7. Following December 31, 2027, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of Executive’s employment pursuant to Section 7.

Appears in 3 contracts

Samples: Employment Agreement (Sotherly Hotels Lp), Employment Agreement (Sotherly Hotels Lp), Employment Agreement (Sotherly Hotels Lp)

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Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), and shall continue during the period ending on December 31, 20272024, unless terminated prior to such date pursuant to Section 7. Following December 31, 20272024, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of Executive’s employment pursuant to Section 7.

Appears in 2 contracts

Samples: Employment Agreement (Sotherly Hotels Lp), Employment Agreement (Sotherly Hotels Lp)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above January 1, 2018 (the “Commencement Date”), ) and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 76 hereof. Following December 31, 2027, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76 hereof.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), through the Transition Date, and shall continue during the period ending on until December 31, 20272017, unless terminated prior to such date pursuant to Section 76 hereof. Following December 31, 20272017, the term employment of the Agreement Executive shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76 hereof.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), ) and shall continue during the period ending on December 31, 20272015, unless terminated prior to such date pursuant to Section 76 hereof. Following December 31, 20272015, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76 hereof.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive Unless terminated pursuant to Section 6 hereof, the Executive’s employment hereunder shall continue commence on the terms herein from and after the date first set forth written above (the “Commencement Date”), which is the effective date of the Company’s initial public offering, and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 72009. Following December 31, 2027Thereafter, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), and shall continue during the period ending on December 31, 20272014, unless terminated prior to such date pursuant to Section 76. Following December 31, 20272014, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), and shall continue during the period ending on December 31, 20272024, unless terminated prior to such date pursuant to Section 7. Following December 31, 20272024, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of Executive’s employment pursuant to Section 7. For the avoidance of doubt, prior to the Commencement Date the Prior Employment Agreement shall remain in full force and effect and continue to govern the rights and obligations of Executive and the Company.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

Commencement Date; Term. Employment of the Executive shall continue on the terms herein from and after the date first set forth written above (the “Commencement Date”), and shall continue during the period ending on December 31, 20272012, unless terminated prior to such date pursuant to Section 76. Following December 31, 20272012, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

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Commencement Date; Term. Employment of Executive Unless terminated pursuant to Section 6 hereof, the Executive’s employment hereunder shall continue commence on the terms herein from and after the date first set forth above (the “Commencement Date”), which is the effective date of the Company’s initial public offering, and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 72009. Following December 31, 2027Thereafter, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive Unless terminated pursuant to Section 6 hereof, the Executive's employment hereunder shall continue commence on the terms herein from and after the date first set forth above (the “Commencement Date”), Date and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 72003 (the "Initial Term"). Following December 31, 2027Thereafter, the term Employment Term shall extend automatically for consecutive periods of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, one year unless either party gives 180 shall provide notice of termination not less than 90 days prior written notice that to an anniversary date of this Agreement (which, for purposes of this Agreement, shall be December 31). The Initial Term, together with any extension pursuant to this Section 2, is referred to herein as the term will not be extended (the “"Employment Term”). ." The Employment Term shall terminate upon any termination of the Executive’s 's employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (Sunterra Corp)

Commencement Date; Term. Employment of Executive Unless terminated pursuant to Section 6 hereof, the Executive's employment hereunder shall continue commence on the terms herein from and after the date first set forth above (the “Commencement Date”), Date and shall continue during the period ending on December May 31, 2027, unless terminated prior to such date pursuant to Section 72002 (the "Initial Term"). Following December 31, 2027Thereafter, the term Employment Term shall extend automatically for consecutive periods of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, one year unless either party gives 180 shall provide notice of termination not less than 90 days prior written notice that to an anniversary date of this Agreement (which, for purposes of this Agreement, shall be May 31). The Initial Term, together with any extension pursuant to this Section 2, is referred to herein as the term will not be extended (the “"Employment Term”). ." The Employment Term shall terminate upon any termination of the Executive’s 's employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (Sunterra Corp)

Commencement Date; Term. Employment of Executive Unless terminated pursuant to Section 6 hereof the Executive’s employment hereunder shall continue commence on the terms herein from and after the date first set forth written above (the “Commencement Date”), and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 72010. Following December 31, 2027Thereafter, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76.

Appears in 1 contract

Samples: Employment Agreement (MHI Hospitality CORP)

Commencement Date; Term. Employment of Executive shall continue on the terms herein from and after the date first set forth above (the “Commencement Date”), ) and shall continue during the period ending on December 31, 2027, unless terminated prior to such date pursuant to Section 76 hereof. Following December 31, 2027, the term of the Agreement shall be extended for an additional year, on each anniversary of the Commencement Date, unless either party gives 180 days prior written notice that the term will not be extended (the “Employment Term”). The Employment Term shall terminate upon any termination of the Executive’s employment pursuant to Section 76 hereof.

Appears in 1 contract

Samples: Employment Agreement (Sotherly Hotels Lp)

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