Common use of Initial Term and Renewal Terms Clause in Contracts

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.

Appears in 12 contracts

Samples: Lease With Maintenance Agreement, Contractor Services Agreement, Memorandum of Understanding

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