First renewal Sample Clauses

First renewal. On the first renewal by a New Club of a vessel that was entered with it as a New Vessel, the following provisions shall have effect unless subclause 1(d) applied to the original entry: (a) the New Club shall notify the former Holding Club (and each of them, if more than one) in writing of the first renewal premium for that vessel not later than 14 working days before the renewal date; (b) any former Holding Club may within two working days after receipt of that notification apply to the Committee to determine whether that rate is unreasonably low.
Sample 1Sample 2Sample 3See All (8)
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First renewal. Contract Years 6: Minimum 20 Work Units per Grid Area in the Contract Area.
Sample 1Sample 2See All (4)
First renewal. The Tenant shall have the right to renew this Lease for a further term of five (5) years (the “First Renewal Right”) commencing on • 2009 and expiring on •, 2014 (the “First Renewal Period”), subject to the following terms and conditions: (i) the Tenant shall not be entitled to the First Renewal Right if, at the time of the giving of the notice of exercise thereof: (A) the Tenant has received written notice from the Landlord that it is in default under this Lease and all applicable notice and cure periods have expired; or (B) the Tenant is no longer using, occupying and operating in the Leased Premises for the purposes of the development and manufacturing of Spheral Solar and ancillary purposes or for the solar business as it is currently being conducted by the Photowatt Technologies Group; (ii) the First Renewal Right shall be exercisable by notice by the Tenant to the Landlord by no later than six (6) months prior to the expiry of the initial term of this Lease; (iii) provided the Tenant has properly exercised the First Renewal Right, this Lease shall be renewed for the First Renewal Period on the same terms and conditions as are contained in this Lease, except that the Minimum Rent during the First Renewal Period will be as stipulated in subsection (iv) and there shall be no further right to renew (other than the Second Renewal Right set out below in Section 3.3(b)); (iv) the annual Minimum Rent during the First Renewal Period shall be the Market Rent for the Leased Premises based on the Rentable Area of the Building as of the commencement date of the First Renewal Period and, based on this, shall be negotiated in good faith by the Landlord and the Tenant and, failing agreement by three (3) months before the commencement date of the First Renewal Period, shall be determined by a single arbitrator in accordance with the provisions of the attached Schedule “C” and the Arbitration Act, 1991 (Ontario); and (v) as soon as reasonably possible after the Landlord receives notice from the Tenant pursuant to Section 3.3(a)(ii), the Landlord’s architect, whose decision shall be final and binding on the Landlord and the Tenant, shall measure the Rentable Area of the Building in accordance with the provisions of Section 4.10 of this Lease, and the Landlord and the Tenant shall sign an acknowledgment as to the Rentable Area of the Building.
Sample 1
First renewal. At the end of the Initial Term, unless either Party gives the other Party a Notice of non-renewal at least 60 days before the expiration of the Initial Term, this Agreement will automatically renew at the Provider’s then current fees for one (1) additional successive term equal in length to the Initial Term (the “First Renewal Term”), unless terminated earlier under any of this Agreement's express provisions.
Sample 1
First renewal. Provided that (i) both at the time of the exercise of the option hereinafter set forth and at the time of commencement of the Renewal Term (as hereinafter defined) this Lease is in full force and effect and provided further that Tenant is not then in default hereunder beyond the expiration of any applicable notice and cure period provided for in this Lease and (ii) Tenant has not then sublet, on a cumulative basis, 25% or more of the 4000 Premises. Tenant is hereby granted the option to renew the Term for one (1) additional period of sixty (60) months (the "Renewal Term"), such Renewal Term to commence at the expiration of the initial Lease Term. Tenant shall exercise its option for the Renewal Term by delivering notice of such election (the "Renewal Notice") to Landlord not less than two hundred seventy (270) days prior to the expiration of the initial Lease Term. In the event that Landlord does not receive the Renewal Notice prior to the expiration of such time period (time being of the essence with respect thereto), then such option to renew the Lease Term and the Option to renew under Section 50.1.2 shall, upon the expiration of such time period, become null and void and be of no further force or effect and Tenant shall, at the request of Landlord, execute an instrument in form and substance acceptable to Landlord confirming such facts, but the failure to do so shall not effect such renewal right being null and void.
Sample 1
First renewal. The term of this Agreement shall be renewed without further action by either party for an additional term of two (2) years, commencing on *** provided, however, that Buyer may terminate this Agreement as of the end of the initial term by providing notice to Seller not later than the *** .
Sample 1
First renewal. The option to renew the Lease Agreement for a single, one-year term is hereby exercised. The term for this first renewal shall be for one (1) year, commencing on May 21, 2019 and expiring, unless sooner terminated pursuant to the terms of the Lease Agreement, on May 20, 2020, and upon the same terms and conditions as the Lease, except as otherwise set forth herein.
Sample 1
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First renewal. So long as the Game [***] by the end of the initial term, the term will be automatically renewed for an additional two (2) years.
Sample 1

Related to First renewal

  • AGREEMENT RENEWAL This Agreement shall not bind nor purport to bind the AZDOHS for any contractual commitment in excess of the original Agreement period.

  • Auto-Renewal In the event that this Agreement is automatically renewed, the Business Associate agrees to be bound by the terms of this Agreement and laws referenced in this Agreement that are current and in effect at the time of renewal.

  • Term and Renewal This Agreement shall become effective as of the Effective Date and shall remain in effect for a period of three years from and after the Live Date (the “Initial Term”), and thereafter shall automatically renew for successive three year terms (each such period, a “Renewal Term”) unless terminated by any party giving written notice of non-renewal at least one hundred eighty days prior to the last day of the then current term to each other party hereto.

  • Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.

  • EXPIRATION AND RENEWAL 47.01 This Agreement shall be in effect from May 21, 2021, and shall remain in effect until May 20, 2025, and thereafter from year to year, but either party may, not less than thirty (30) days or more than ninety (90) days before the expiry date or the anniversary date of such expiry date from year to year thereafter, give notice in writing to the other party of a desire to terminate such Agreement or to negotiate a revision thereof. 47.02 When the required notice for termination or revision is given by either party, negotiations in connection with same shall be started as soon as reasonably possible and conducted, so that if it is reasonably possible, same may mutually and satisfactorily be concluded within the notification period.

  • Term and Renewal Options The term of service is 24 months (Initial Term). Following the expiration of the Initial Term, service under this option will continue on a month-to-month basis subject to the terms and conditions, including rates and discounts set forth under this option (Extension Term). The Company or the Customer may elect to forego the Extension Term by providing the other party written notice at least 60 days prior to the expiration of the Initial Term. Either party may terminate service during the Extension Term by providing the other party at least 60 days prior written notice. Term shall mean the Initial Term and the Extension Term.

  • Non-Renewal Any grounds for termination stated in Section 24(c) above also may be grounds for non-renewal. In addition, the State Board or Local Board may elect not to renew the Charter if the petition for renewal does not comply with the Charter Schools Act and the rules, regulations, policies, and procedures promulgated in accordance with the Charter Schools Act or if the State Board or Local Board deems that the Charter School has not sufficiently increased student achievement or is no longer in the public interest.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • LEASE RENEWAL (a) Subject to the notice requirements set forth in Section 13(a), at the end of the Basic Lease Term, provided that no Default or Event of Default shall have occurred and be continuing, no Event of Loss or Deemed Loss Event shall have occurred in respect of which the Lessor has demanded payment under Section 9(c) or 9(d), as the case may be, or in response to which a Special Transfer has been effected, and all Notes shall have been paid in full, the Lessee shall have the option to renew the term of this Facility Lease for a single period of a number of years (not less than two) selected by the Lessee (such renewal period or such shorter period as shall extend to the expiration of the Facility Lease being herein referred to as the “Fixed Rate Renewal Term”); provided, however, that the Lessee, at the time of the exercise of its renewal option as provided in this subsection (a), shall have furnished an appraisal of an independant appraiser as to the useful life of Unit 1, which appraiser and appraisal shall be reasonably satisfactory to the Lessor, and which appraisal shall indicate that at the end of the proposed Fixed Rate Renewal Term the residual value of the Undivided Interest will be equal to at least 20% of Facility Cost for the Undivided Interest (without taking into account inflation or deflation that has occurred or will have occurred from the Closing Date to the end of the proposed Fixed Rate Renewal Term), and that the proposed Fixed Rate Renewal Term does not extend the Lease Term beyond 80% of the economic useful life of Unit 1 as established by such appraisal. (b) Subject to the notice requirements set forth in Section 13(a), at the end of the Basic Lease Term or any Renewal Term, provided that no Default or Event of Default shall have occurred and be continuing, no Event of Loss or Deemed Loss Event shall have occurred in respect of which the Lessor has demanded payment under Section 9(c) or 9(d), as the case may be, or in response to which a Special Transfer has been effected, and all the Notes have been paid in full, the Lessee shall have the option to renew the term of this Facility Lease for one or more periods of three years or such shorter period as shall extend to the expiration of the License (each such renewal period being herein referred to as a “Fair Market Renewal Term”).

  • Termination and Renewal This Agreement shall be in full force and effect until December 31, 2021, and shall continue in effect from year to year thereafter unless either party gives notice, in writing, at least sixty (60) days prior to any expiration or modification date of its desire to terminate or modify such Agreement; provided that, in the event the Union serves written notice in accordance with this Section, any strike or stoppage of work after any expiration or modification date shall not be deemed in violation of any provision of this Agreement, any other provision to the contrary notwithstanding.

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