Common use of Initial and Renewal Term Clause in Contracts

Initial and Renewal Term. The Term of this Agreement will be for an initial period of ten (10) years after the effective date, and shall be automatically renewed for successive five (5) year periods thereafter, provided that neither Professional Business Manager nor the Practice shall have given notice of its desire not to renew this Agreement at least sixty (60) days before the end of the initial term or any renewal term, or unless otherwise terminated as provided in Section 6.2 of this Agreement. Notwithstanding any provision to the contrary, the rights and obligations of the Parties with respect to any Practice Location shall terminate upon the termination of the underlying lease or sublease pursuant to which the Practice operates such Office.

Appears in 1 contract

Samples: Professional Business Management Agreement (Eye Care Centers of America Inc)

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Initial and Renewal Term. The Term of this Agreement will be for -------------------------- an initial period of ten (10) years after the effective date, and shall be automatically renewed for successive five (5) year periods thereafter, provided that neither Professional Business Manager nor the Practice shall have given notice of its desire not to renew this Agreement at least sixty (60) days before the end of the initial term or any renewal term, or unless otherwise terminated as provided in Section 6.2 of this Agreement. Notwithstanding any provision to the contrary, the rights and obligations of the Parties with respect to any Practice Location shall terminate upon the termination of the underlying lease or sublease pursuant to which the Practice operates such Office.

Appears in 1 contract

Samples: Employment Agreement (Eye Care Centers of America Inc)

Initial and Renewal Term. The Term of this Agreement will be for an initial period of ten one (101) years year after the effective date, and shall be automatically renewed for ten (10) successive five one (51) year periods thereafter, provided that neither unless either Professional Business Manager nor or the Practice shall have given notice of its desire not to renew this Agreement at least sixty thirty (6030) days before the end of the initial term or any renewal one year term, or unless otherwise terminated as provided in Section 6.2 of this Agreement. Notwithstanding any provision to the contrary, the rights and obligations of the Parties with respect to any Practice Location shall terminate upon the termination of the underlying lease or sublease pursuant to which the Practice operates such Office.

Appears in 1 contract

Samples: Professional Business Management Agreement (Eye Care Centers of America Inc)

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Initial and Renewal Term. The Term of this Agreement will be for -------------------------- an initial period of ten (10) years after the effective date, and shall be automatically renewed for six (6) successive five (5) year periods thereafter, provided that neither Professional Business Manager nor the Practice shall have given notice of its desire not to renew this Agreement at least sixty (60) days before the end of the initial term or any renewal term, or unless otherwise terminated as provided in Section SECTION 6.2 of this Agreement. Notwithstanding any provision to the contrary, the rights and obligations of the Parties with respect to any Practice Location shall terminate upon the termination of the underlying lease or sublease pursuant to which the Practice operates such Office.

Appears in 1 contract

Samples: Professional Business Management Agreement (Eye Care Centers of America Inc)

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