Common use of Renewal of Term Clause in Contracts

Renewal of Term. Upon the expiration of the original Term of this Agreement, it shall be automatically renewed for an additional five (5) year period commencing upon the expiration of the original Term unless terminated by Owner or Manager effective at the end of the original Term by notice in writing to the other given not later than ninety (90) days prior to the end of the original Term. Unless otherwise agreed, upon the effective date of any renewal, the Term of this Agreement and all other terms, covenants and conditions set forth in this Agreement shall be automatically extended to the expiration of the applicable renewal term.

Renewal of Term. Upon the expiration of the original Term of this Agreement, it shall be automatically renewed for an additional five (5) from year period commencing upon the expiration of the original Term to year thereafter unless terminated by Owner or Manager effective at the end of the original Term any such year by notice in writing to the other given not later than ninety (90) days prior to the end of the original Termsuch year. Unless otherwise agreed, upon the effective date of any renewal, the Term of this Agreement and all other terms, covenants and conditions set forth in this Agreement shall be automatically extended to the expiration of the applicable renewal term.