Common use of MEMBER'S OPTION TO TERMINATE Clause in Contracts

MEMBER'S OPTION TO TERMINATE. The term of occupancy shall be continuously and automatically extended and renewed at the expiration of the initial term on a year-to-year basis, or for additional periods as determined by the Board of Directors and Member. All extensions and renewals shall be upon the terms and conditions set forth in the Governing Instruments and Operating Rules and in any amendments thereto. The Member may elect to terminate this Agreement by complying with the Bylaws including, but not limited to, the provisions contained in Section 4.7 of the Bylaws entitled "Transfer of Membership". Upon termination, the Member shall leave the Space in a good state of repair, excepting normal wear and tear.

MEMBER'S OPTION TO TERMINATE. ‌ The term of occupancy shall be continuously and automatically extended and renewed at the expiration of the initial term on a year-to-year basis, or for additional periods as determined by the Board of Directors and MemberDirectors. All extensions and renewals shall be upon the terms and conditions set forth in the Governing Instruments and Operating Rules and in any amendments thereto. The Member may elect to terminate this Agreement by complying with the Bylaws including, but not limited to, the provisions contained in Section 4.7 of the Bylaws entitled "Transfer of Membership". Upon termination, the Member shall leave the Space in a good state of repair, excepting normal wear and tear.