Common use of Initial and Renewal Terms Clause in Contracts

Initial and Renewal Terms. The Term of this Agreement shall commence on the Closing Date which shall be on or before October 15, 2000, and shall terminate 30 years thereafter. Notwithstanding the foregoing, this Agreement shall be reviewed annually and the 30 year termination date automatically extended for additional one year periods, unless written notification is given by ACT not less than 60 days prior to October 14, 2001, and each October 14th thereafter. All terms and conditions contained in this Agreement shall remain in full force and effect during the Renewal Term.

Initial and Renewal Terms. The Term of this Agreement shall commence on the Closing Date which shall be on or before October 15, 20001999, and shall terminate 30 years thereafter. Notwithstanding the foregoing, this Agreement shall be reviewed annually and the 30 year termination date automatically extended for additional one year periods, unless written notification is given by ACT Phoenix not less than 60 days prior to October 14, 20012000, and each October 14th thereafter. All terms and conditions contained in this Agreement shall remain in full force and effect during the Renewal Term.

Initial and Renewal Terms. The Term of this Agreement shall commence on the Closing Date which shall be on or before October 15, 2000, and shall terminate 30 years thereafter. Notwithstanding the foregoing, this Agreement shall be reviewed annually and the 30 year termination date automatically extended for additional one year periods, unless written notification is given by ACT PIA not less than 60 days prior to October 14, 2001, and each October 14th thereafter. All terms and conditions contained in this Agreement shall remain in full force and effect during the Renewal Term.