Priority of Renewal Sample Clauses

Priority of Renewal. No renewal or extension of time given by the Lender shall in any way affect or prejudice the Lender's rights against the Borrower, the Surety or any other person. The Contract will secure the payment and other obligations as extended or changed in the renewal agreement and will be deemed dated as of the first day of each renewal term. It will not be necessary to register notice of any such renewal or obtain any consents or acknowledgements in order to retain priority for this Contract so altered over any subsequent encumbrance or instrument registered subsequent to this Contract.
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Related to Priority of Renewal

  • Extension Time limits specified in this Agreement may be extended by mutual agreement.

  • Renewal (a) This Agreement will be renewed for successive periods of ten (10) years upon the expiration of the initial Term set forth in Section 4.1 and each successive Term, unless:

  • Term; Renewal Subject to Section 4.02 hereof, this Agreement has a one-year term and shall continue in force until the first anniversary of the date hereof. Thereafter, this Agreement may be renewed for an unlimited number of successive one-year terms upon mutual consent of the parties. It is the Board’s duty to evaluate the performance of the Advisor annually before renewing the Agreement, and each such renewal shall be for a term of no more than one year.

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