Common use of Initial and Renewal Term Clause in Contracts

Initial and Renewal Term. The Term of this Retail Business Management Agreement will be for an initial period of forty (40) years after the effective date, and shall be automatically renewed for successive five (5) year periods thereafter, provided that neither Retail Business Manager nor the Practice shall have given notice of termination of this Retail Business Management Agreement at least one hundred twenty (120) days before the end of the initial term or any renewal term, or unless otherwise terminated as provided in Section 6.2 of this Retail Business Management Agreement.

Initial and Renewal Term. The Term of this Retail Business Management Agreement will be for an initial period of forty (40) years after the effective dateSeptember 30, 1997, and shall be automatically renewed for successive five (5) year periods thereafter, provided that neither Retail Business Manager nor the Practice shall have given notice of termination of this Retail Business Management Agreement at least one hundred twenty (120) days before the end of the initial term or any renewal term, or unless otherwise terminated as provided in Section 6.2 of this Retail Business Management Agreement.