Master License Term. The term under this Master License (the “Term”) will commence on the Effective Date and will automatically expire 10 years from the Effective Date on [insert specific date] (the “Expiration Date”), unless earlier terminated in accordance with this Master License.
Master License Term. This Master License will commence on the Effective Date and automatically expire ten (10) years from the Effective Date (the “Initial Term”), unless earlier terminated in accordance with this Master License. Following this Initial Term, this Master License may be renewed for two (2) additional periods of five (5) years (each a “Renewal Term”), upon written agreement of the City and Licensee, which agreement must be fully executed not later than sixty (60) days prior to the expiration of the Initial Term or first Renewal Term, as applicable. As used in this Master License, the Initial Term and Renewal Terms shall collectively be referred to as the “Term.”
