Common use of Extension of Licence Clause in Contracts

Extension of Licence. This licence is valid initially for a period of FIFTEEN YEARS unless terminated earlier. If requested by the LICENSEE, extension may be granted by the LICENSOR at suitable terms for a period of five years or more at a time. The decision of the LICENSOR shall be final in the matter. The LICENSOR shall extend or refuse extension of the licence on a request received by it. Such request for extension may be made during 14th year of Licence and in any case before expiry of 14 years from effective date. If no request for extension is received by then, the licence shall automatically stand terminated as per due date. The licence will ordinarily be renewed on such terms and conditions as may be determined by the LICENSOR.

Extension of Licence. This licence is valid initially for a period of FIFTEEN YEARS unless terminated earlier. If requested by the LICENSEE, extension may be granted by the LICENSOR at suitable terms for a period of five years or more at a time. The decision of the LICENSOR shall be final in the matter. The LICENSOR shall extend or refuse extension of the licence on a request received by it. Such request for extension may be made during 14th year of Licence and in any case before expiry of 14 years from effective date. If no request for extension is received by then, the licence shall automatically stand terminated as per due date. The licence will ordinarily be renewed on such terms and conditions as may be determined by the LICENSOR.. CONDITION 10:

Extension of Licence. This licence is valid initially for a period of FIFTEEN YEARS unless ------------- terminated earlier. If requested by the LICENSEE, extension may be granted by the LICENSOR at suitable terms for a period of five years or more at a time. The decision of the LICENSOR shall be final in the matter. The LICENSOR shall extend or refuse extension of the licence on a request received by it. Such request for extension may be made during 14th year of Licence and in any case before expiry of 14 years from effective date. If no request for extension is received by then, the licence shall automatically stand terminated as per due date. The licence will ordinarily be renewed on such terms and conditions as may be determined by the LICENSOR.

Extension of Licence. This licence is valid initially for a period of FIFTEEN YEARS unless terminated earlier. If requested by the LICENSEE, extension may be granted by the LICENSOR at suitable terms for a period of five years or more at a time. The decision of the LICENSOR shall be final in the matter. The LICENSOR shall extend or refuse extension of the licence on a request received by it. Such request for extension may be made during 14th year of Licence and in any case before expiry of 14 years from effective date. If no request for extension is received by then, the licence shall automatically stand terminated as per due date. The licence will ordinarily be renewed on such terms and conditions as may be determined by the LICENSOR.