Initial Term and Renewal Terms. The term of the Agreement consists of an initial term beginning on the date we pay Supplier and ending at the end of your fiscal year in which we pay Supplier, and a series of renewal terms, each co-extensive with your fiscal year. Except to the extent required by applicable law, if you do not exercise your right to terminate the Agreement under the Non-Appropriation or Renewal paragraph as of the end of any fiscal year, the Agreement will be deemed automatically renewed for the next succeeding renewal term.
Initial Term and Renewal Terms. This Agreement will commence on the Effective Date and, will continue in full force and effect for five (5) years from the Effective Date (the “Initial Term”), unless earlier terminated in accordance with this Section 9.
9.1.1. This Agreement shall automatically renew for a subsequent five-year term (the “First Renewal Term”), provided that if Licensee did not satisfy the performance metrics set forth on Schedule B hereto (the “Performance Metrics”) for the Initial Term, S&W may provide written notice of nonrenewal for failure to meet the Performance Metrics within 30 days following the end of the Initial Term and, following such notice, this Agreement shall not renew for a First Renewal Term but shall instead continue for a period of twelve (12) months from the last day of the Initial Term. After the First Renewal Term, the parties may agree in writing to one or more five-year renewal terms, provided, however, that unless the parties have so agreed to any such additional renewal terms, this Agreement shall continue on a month-to-month basis, and may be terminated by either party at any time by giving twelve (12) months’ written notice to the other party.
9.1.2. In addition to the conditions on renewal set forth in Section 9.1.1, if either party wishes to modify the Royalty Rate, commencing on or after ten (10) years from the Effective Date, then not later than six (6) months prior to the expiration of the First Renewal Term, or of any subsequent five-year renewal term to which the parties may agree pursuant to Section 9.1.1, the parties shall engage in good faith discussions regarding such new Royalty Rate, and if the parties are unable to agree on a new Royalty Rate, the parties will engage an independent third party (“ITP”) to set the new Royalty Rate based off the industry average rate. Upon determination of such new Royalty Rate by the ITP, such Royalty Rate shall be the Royalty Rate under Section 6.1 of the Agreement, starting with the five-year renewal term as to which the modified rate was requested and continuing thereafter, provided, if either party does not agree with the rate determined by the ITP, such party may elect to not extend the Agreement and this Agreement shall not renew for such five-year renewal term, but shall instead continue for a period of twelve (12) months from the last day of the preceding renewal term at the same Royalty Rate of such preceding renewal term. The cost of the ITP shall be paid by the Party that does not wish to...
Initial Term and Renewal Terms. The initial term of this Agreement begins on the Effective Date and shall continue for a period of one (1) year (the “Initial Term”). Upon expiration of the Initial Term or any Renewal Term, this Agreement shall automatically renew for successive one (1) year periods (each, a “Renewal Term” and collectively with the Initial Term, the “Term”), unless either party provides written notice to the other party of non-renewal at least thirty (30) days prior to the expiration of the then-current Term.
Initial Term and Renewal Terms. Subject to earlier termination, as provided herein, this Agreement shall commence on the Effective Date and shall continue for a period of TEN (10) YEARS (the "Initial Term"). Thereafter, this Agreement shall be automatically renewed for TWO (2) successive TEN
Initial Term and Renewal Terms. This Agreement shall expire on December 31, 2005 unless earlier terminated as provided below. Upon the expiration of the Initial Term, this Agreement shall automatically renew for successive one-year terms (“Renewal Terms”). Either party may terminate the Agreement effective at the end of the Initial Term or any Renewal Term by providing written notice to the other of its intent not to renew. Such notice must be received not later than ninety (90) days prior to the expiration of the Initial Term or the then current Renewal Term. If this Agreement is terminated with respect to less than all of the Funds or Portfolios, this Agreement shall remain in full force and effect with respect to the remaining Funds or Portfolios.
Initial Term and Renewal Terms. The Venture shall have a term commencing on the date hereof and continuing to and including April 30, 2018. Thereafter, the term of the Venture shall be automatically extended for successive two-year renewal terms unless either party elects by written notice to the other party given not less than twelve (12) months prior to expiration of the initial term or any renewal term, to terminate the Venture upon expiration of the initial term or renewal term, as the case may be.
Initial Term and Renewal Terms. The initial term of this Agreement shall be for a period of one year (2) years, commencing on the Effective Date and shall automatically renew for additional terms of one (1) year each, unless either party provides not less than sixty (60) days’ prior written notice of its decision not to terminate this Agreement. In the event of a breach, termination can be effectuated in 30 days as set forth below.
Initial Term and Renewal Terms. The initial term of this Agreement will commence on the Effective Date and continue until the expiration of five (5) Contract Years (the "Initial Term"), unless sooner terminated as provided below. Upon expiration of the Initial Term, the parties may agree to extend the term of this Agreement for one or more additional periods (each a "Renewal Term"), subject to agreement on Minimum Sales Thresholds (if the Exclusive Period has not been terminated), Running Royalties, Minimum Annual Royalties, and Milestone Fees that would apply to such Renewal Term(s).
Initial Term and Renewal Terms. The term of this Agreement shall commence as of the Effective Date, and shall continue for a period of three (3) years (the “Initial Term”), unless terminated earlier in accordance with this Agreement. Company may extend this Agreement for an additional two-year (2-year) period (the “Renewal Term”) by providing written notice to Bank prior to the end of the Initial Term. The Initial Term and the Renewal Term may be referred to herein as the “Term.”
Initial Term and Renewal Terms. This Agreement shall be effective on the date that the Account is opened (the “Effective Date”) and shall continue in effect until the Account terminates or expires. The Account shall expire on the first anniversary of the Effective Date (the “Initial Term”), provided however that the Account shall automatically renew for additional periods of one-year each (each a “Renewal Term”) on each anniversary of the Effective Date (each a “Renewal Date”) upon User’s payment of annual fees to renew the Account for each Renewal Period (“Access Fees”) paid before the applicable Renewal Date. Any User has the right to not renew the Agreement for any Renewal Term by not paying the Access Fees before the applicable Renewal Date. RGX has the right to not renew this Agreement for any Renewal Term in its sole and absolute discretion by delivering written notice to the applicable User and not accepting Access Fees. However, if RGX accepts Access Fees for a Renewal Term, it must honor the Renewal Term. Each Renewal Term will be automatically effective as of the Renewal Date. Activation of a Renewal Term shall constitute the User’s agreement to the version of this Agreement then in effect, and continued use of the Platform constitutes ratification of this Agreement.
