Subsequent Renewal Options Clause Samples
Subsequent Renewal Options. The parties hereto acknowledge and agree that the extension of the Availability Period Expiration Date provided for in this Amendment constitutes and exhausts the First Renewal Option provided in Article 3(i) of the Master Repurchase Agreement. Any requests by Seller to exercise a Subsequent Renewal Option shall be approved or denied in accordance with the terms and conditions set forth in Article 3(i) of the Master Repurchase Agreement.
Subsequent Renewal Options. Subsequent to the periods as mentioned in Paragraph 4B hereto, USER shall have the option to renew this Agreement for two (2) additional periods of sixty (60) months each, if (1) USER not be in violation of this Agreement or any other Agreement between OWNER and USER; (2) USER give written notice of their election to renew not less than six (6) months prior to the end of the term then in effect; and (3) during the last term then in effect USER shall have paid to OWNER pursuant to Paragraph 5(A) and (B) a minimum of one hundred thousand ($100,000) dollars. This Agreement shall continue in force and effect for as provided for in Section 4 herein and subject to all other terms and conditions set forth in this Agreement.
Subsequent Renewal Options. Subsequent to the periods as mentioned in Paragraph 4B hereto, LICENSEE shall have the option to renew this Agreement for two (2) additional periods of twenty-four (24) months each, if (i) LICENSEE not be in violation of this Agreement or any other Agreement between LICENSOR and LICENSEE; (ii) LICENSEE give written notice of their election to renew not less than three (3) months prior to the end of the term then in effect; and (iii) during the last term then in effect LICENSEE shall have paid to LICENSOR pursuant to Section 5B a minimum of Six Hundred Thousand United States (US$600,000) Dollars. This Agreement shall continue in force and effect for as provided for in Section 4 herein and subject to all other terms and conditions set forth in this Agreement.