Common use of Extension of this Agreement Clause in Contracts

Extension of this Agreement. If no Operative Date shall have occurred on or before the 365th calendar day preceding the date on which the Term is then scheduled to expire, then the Term shall automatically be extended for one year unless either party shall have given the other party written notice of its election not to extend the Term; provided, that an election by the Company not to extend the Term shall be void ab initio if, at the time of such election, the Company is a party to an agreement providing for a transaction or transactions that, if consummated, would constitute a Change in Control.

Extension of this Agreement. If no Change in Control Operative Date shall have occurred on or before the 365th 60th calendar day preceding the date on which the Term is then scheduled to expire, then the Term shall automatically be extended for one year to October 25, 2004 unless either party shall have given the other party written notice of its election not to extend the Term; provided, that an election by the Company not to extend the Term shall be void ab initio if, at the time of such election, the Company is a party to an agreement providing for a transaction or transactions that, if consummated, would constitute a Change in Control.