Conditions to Renewal Sample Clauses

Conditions to Renewal. Tenant's option to renew, as herein provided, shall be conditioned upon and subject to each of the following:
Sample 1Sample 2
AutoNDA by SimpleDocs
Conditions to Renewal. The provisions of this Section 13.1.2 shall only apply if Xxxxxx meets the Contractual Minimums for all Contract Years. At least one-hundred eighty (180) days prior to the end of the Initial Term and each Renewal Term (if any), Xxxxxx and OraSure shall meet to discuss the new Contractual Minimum for the next succeeding Renewal Term; provided that any agreement on a new Contractual Minimum shall be at each party’s sole discretion. If the parties reach agreement on the new Contractual Minimum at least one-hundred twenty (120) days prior to the commencement of the next succeeding Renewal Term, and provided Xxxxxx has met the Contractual Minimums for all Contract Years (including the Contract Year in which the parties met to discuss the new Contractual Minimum), this Agreement shall automatically renew for such Renewal Term and the Contractual Minimum agreed to by the parties shall be the Contractual Minimum for such Renewal Term under Section 2.1.5. If the parties fail to agree on a new Contractual Minimum within the time frame set forth above, the Agreement shall not automatically renew without the further agreement of both parties. In the event that the Agreement does not renew because the parties fail to agree to a new Contractual Minimum, Xxxxxx shall, notwithstanding the foregoing and subject to the last sentence of this Section 13.1.2, have the right to renew this Agreement for an additional Renewal Term with a Contractual Minimum equal to *** of the greater of (i) the Contractual Minimum for the last Contract Year prior to renewal and (ii) the number of OraQuick® ADVANCE™ Devices actually sold to Xxxxxx under this Agreement during the last Contract Year prior to renewal. At the end of each Renewal Term, this Agreement shall terminate or renew in accordance with Sections 13.1.1 and 13.1.2. Notwithstanding the foregoing, if OraSure desires to have Xxxxxx discontinue distributing the Products after Xxxxxx has exercised its right to renew as provided above, Xxxxxx shall not be permitted to renew and this Agreement shall terminate, in which case, OraSure shall pay to Xxxxxx a royalty in quarterly installments over *** commencing immediately after termination of this Agreement equal to *** of the Xxxxxx Net Sales for the last Contract Year prior to termination of this Agreement. In the event that this Agreement is renewed for one or more Renewal Terms, OraSure shall also pay to Xxxxxx an additional royalty in quarterly installments over the *** after termina...
Sample 1
Conditions to Renewal. The renewal of the appointment in the Territory shall take effect only if as of the date of expiration of the Initial Term (i) the Distributor is not in material breach of any of its obligations under this Agreement (including without limitation its obligations to make * of the Agreement Product as set forth in Section 9.3), and (ii) the parties shall have negotiated in good faith reasonable additional * Amounts and * for such additional term. The * Amounts and * shall reflect market conditions such as changes to the sales price to third parties, changes in the competitive situation and other market factors.
Sample 1
Conditions to Renewal. Tenant's right to exercise an option to renew --------------------- the Term of the Lease shall be subject to the following conditions:
Sample 1
Conditions to Renewal. Upon the expiration of this Agreement, Franchisee must satisfy each of the following conditions to renew the license granted to Franchisee: (a) Franchisee shall give Great Clips written notice of renewal not less than 90 days, nor more than 180 days, before the expiration of the term; (b) Franchisee shall be in compliance with this Agreement and all other GREAT CLIPS® Franchise Agreements, and shall be in compliance with Great Clips' policies for all GREAT CLIPS® salons on the date of the notice of renewal and at the expiration of the term; (c) Franchisee shall perform, at Franchisee's expense, such renovation and replacement of building, grounds, leasehold improvements, equipment, fixtures and signage as Great Clips reasonably requires so-that the Salon conforms with then-current System standards; (d) Franchisee shall pay the renewal fee of $1,750 (subject to increase or decrease in proportion to annual changes in the Consumer Price Index - All Urban Consumers, or its successor index, published by the U.S. Department of Labor); (e) at Great Clips' discretion, Franchisee shall re-attend and successfully complete the training program at Franchisee's expense; and (f) Franchisee and each of Franchisee's shareholders or equity owners with a 10% or greater interest in this Agreement shall sign a General Release and the then-current GREAT CLIPS® Franchise Agreement. Franchisee will be required to pay the Continuing Franchise Fee and the Continuing Advertising Fund Contribution, but not the Initial Franchise Fee, required by the then-current Franchise Agreement. The then-current Franchise Agreement required to be executed by Franchisee at the time of renewal may contain terms materially different from those contained in this Agreement. 2 4.
Sample 1

Related to Conditions to Renewal

  • Options to Renew Provided that no Event of Default by Tenant under this Lease exists as of the date of exercise of the applicable option or at the expiration of the initial term or preceding Option Term, and provided further that Tenant has not assigned this Lease, Tenant shall have the option to extend the initial lease term for four (4) additional, successive terms of five (5) years each (each, an "OPTION TERM"). Tenant shall exercise the option, if at all, by delivering to Landlord written notice of the exercise no sooner than fifteen (15) months nor later than twelve (12) months prior to the expiration of the initial Lease Term or preceding Option Term, as applicable. Tenant's right to exercise each option shall be conditioned upon Tenant delivering to Landlord with Tenant's notice of exercise, current financial reports which evidence that Tenant's financial condition on the date of exercise is equal to or better than Tenant's financial condition on the date of execution of this Lease. If Tenant's financial condition has declined in Landlord's business judgment, Landlord may refuse to accept Tenant's exercise unless Tenant agrees to provide a new Letter(s) of Credit with terms and amounts acceptable to Landlord in its business judgment to secure Tenant's obligations during the applicable Option Term. All terms, provisions, conditions and covenants of this Lease shall remain in full force and effect during the Option Terms, provided that Tenant shall have no additional option periods and the Base Rent payable during the first Lease Year of each Option Term (and for increases during the Option Term, as applicable) shall be the market rate then prevailing as projected for the commencement of the applicable Option Term, for premises comparable in size, quality and location in comparable class R&D/Office buildings throughout the Tri-Valley/Livermore area taking into account all relevant factors (the "MARKET RENT"). Base Rent for the Option Term shall be determined prior to the commencement of the applicable Option Term in the following manner: If Landlord and Tenant are unable to agree on the market rent within sixty (60) days after Tenant gives notice of its exercise of the Option Term, then Tenant shall have the right to revoke its exercise of the option by delivering written notice within ten (10) days following the expiration of such 60-day period. In the event of such revocation, Tenant shall forfeit all rights to thereafter exercise any option under this Lease and the Lease shall terminate at the end of the initial term, or then Option Term, as applicable. If Tenant does not revoke its exercise and elects to proceed with the determination of market rent, then the monthly Base Rent and Additional Rent payable during the Option Term shall be determined by appraisal in the following manner: If Landlord and Tenant can agree on a single appraiser, then the rate set by such appraiser as set forth below shall be the Base Rent for the Option Term. If the parties cannot agree on a single appraiser, then each party, by giving written notice to the other party, shall appoint as an appraiser an experienced commercial real estate agent in the area in which the Premises are located. Said appointment shall be made within ten (10) days following the expiration of the sixty (60) day period aforesaid, and if one of the parties does not appoint an appraiser within that time, the single appraiser named shall be the sole appraiser and shall set the monthly Base Rent for the Option Term. If the two appraisers are appointed as provided herein, each shall independently prepare an estimate of the market rent within sixty (60) days. If the higher of the two estimates so determined is within ten percent (10%) of the lower estimate, then the monthly Base Rent to be paid by Tenant during the Option Term shall be the average of the amounts determined by the appraisers. If the difference between the two estimates exceeds ten percent (10%) of the lower one, the two appraisers shall select a third appraiser meeting the qualifications set forth hereinabove within ten (10) days thereafter who will likewise independently estimate the market rate within sixty (60) days after the appointment. The average of the two closest appraisals shall be set as the monthly Base Rent. Each party shall pay the fees of the appraiser appointed by such party and the parties will share equally the fees of any third appraiser appointed pursuant to this Section A-2.1. Notwithstanding the above, the Base Rent payable by Tenant during each Option Term shall be in addition to all Additional Rent and other sums and charges payable by Tenant under the terms of this Lease. Tenant acknowledges that the options granted herein are personal to Tenant and may not be assigned with an assignment of this Lease except in connection with an assignment to an entity which controls, is controlled by or is under common control with Tenant (as defined in Article 20 of this Lease) or which is a successor to Tenant by merger, consolidation or sale of substantially all of Tenant's assets with Landlord's prior written consent, not to be unreasonably withheld.

  • Conditions to Loan Section 3.1 Conditions to Funding of the Loan on the Closing Date......................................... 33

  • CONDITIONS TO GRANT TO HAVE AND TO HOLD the above granted and described Property unto and to the use and benefit of Lender, and the successors and assigns of Lender, forever; PROVIDED, HOWEVER, these presents are upon the express condition that, if Borrower shall well and truly pay to Lender the Debt at the time and in the manner provided in the Note and this Security Instrument, shall well and truly perform the Other Obligations as set forth in this Security Instrument and shall well and truly abide by and comply with each and every covenant and condition set forth herein and in the Note, these presents and the estate hereby granted shall cease, terminate and be void.

  • Conditions to Completion 3.1. The obligation of the Seller to sell the Sale Shares and proceed with the Completion in terms of Clause 5 of this Agreement shall be conditional on the satisfaction of following conditions, other than those which by their very nature are to be satisfied at Completion, (to the extent that they have not been waived by the Seller (other than the condition set out in Clauses 3.1(ii) below which shall not be waived), in accordance with this Agreement):

  • CONDITIONS TO LOANS The obligations of Lenders to make Loans are subject to satisfaction of all of the applicable conditions set forth below.

  • Conditions to Xxxxx’x Obligations The obligations of Xxxxx hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Xxxxx of a due diligence review satisfactory to Xxxxx in its reasonable judgment, and to the continuing satisfaction (or waiver by Xxxxx in its sole discretion) of the following additional conditions:

  • Conditions to Obligations OF EACH PARTY TO EFFECT THE MERGER. The respective obligations of each party to this Agreement to effect the Merger shall be subject to the satisfaction at or prior to the Closing Date of the following conditions:

  • Conditions to Obligation of Each Party to Effect the Merger. The respective obligations of each party to effect the Merger shall be subject to the satisfaction at or prior to the Effective Time of the following conditions:

  • Conditions to Each Party's Obligation to Effect the Merger. The respective obligations of each party to effect the Merger shall be subject to the fulfillment at or prior to the Effective Date of the following conditions:

  • Conditions to Amendment This Amendment shall become effective upon the satisfaction of the following conditions precedent:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!