Common use of First Extension Period Clause in Contracts

First Extension Period. In the event the Average Sold Excess Capacity is at least ten percent (10%) or greater during the Initial Period, the term of the Agreement shall be automatically extended for an extension period (the "FIRST EXTENSION PERIOD") commencing on the day after the expiration of the Initial Period and expiring on the tenth (10th) anniversary thereafter.

First Extension Period. In the event the Average Sold Excess Capacity is at least ten percent (10%) or greater during the Initial Period, the term of the Agreement shall be automatically extended for an extension period (the "FIRST EXTENSION PERIOD") commencing on the day after the expiration of the Initial Period and expiring on the tenth (10th) anniversary thereafter; provided PathNet shall notify Incumbent of its intent to exercise its option to extend the term of the Agreement at least one hundred and eighty (180) days prior to the end of the preceding term.

First Extension Period. In the event the Average Sold Excess Capacity on a Segment is at least greater than or equal to ten percent (10%) or greater during the Initial PeriodPeriod of such Segment, the term Term of the Agreement shall be automatically extended as to such Segment for an extension period (the "FIRST EXTENSION PERIODFirst Extension Period") commencing on the day after the expiration of the Initial Period as to such Segment and expiring on the tenth (10th) anniversary thereafter.