Common use of Initial Term and Renewal Clause in Contracts

Initial Term and Renewal. The initial Term of this Agreement is as stated on the signature page. By giving written notice to BancTec at least three months prior to the then-scheduled expiration date of the Term, DFS may extend the Term for up to 18 months on the terms and conditions then in effect. DFS will have one such extension option of up to eighteen months.

Initial Term and Renewal. The initial Term of this Agreement is as stated on the signature page. By giving written notice to BancTec at least three *** months prior to the then-scheduled expiration date of the Term, DFS may extend the Term for up to 18 *** months on the terms and conditions then in effect. DFS will have one such extension option of up to eighteen *** months. *** Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.