Common use of Extension of Agreement Term Clause in Contracts

Extension of Agreement Term. On or before the termination date of the Initial Term or any current extension term of this Agreement, the parties may mutually agree to extend the then existing term (an “Extension Term or Extended Term”). The Extension Term shall begin on the expiration of the then existing term and continue for twelve (12) months thereafter, unless otherwise terminated earlier as set forth herein. All terms, covenants, and provisions of this Agreement shall apply to each such Extension Term.

Extension of Agreement Term. On or before the termination date of the Initial Term or any current extension term of this Agreement, the parties may mutually agree to automatically extend the then existing term (an “Extension Term or Extended Term”). The Extension Term shall begin on the expiration of the then existing term and continue for twelve (12) months thereafter, unless otherwise terminated earlier as set forth herein. All terms, covenants, and provisions of this Agreement shall apply to each such Extension Term.