Non-Renewal Any grounds for termination stated in Section 24(c) above also may be grounds for non-renewal. In addition, the State Board or Local Board may elect not to renew the Charter if the petition for renewal does not comply with the Charter Schools Act and the rules, regulations, policies, and procedures promulgated in accordance with the Charter Schools Act or if the State Board or Local Board deems that the Charter School has not sufficiently increased student achievement or is no longer in the public interest.
LEASE RENEWAL (a) Provided that no Event of Default has occurred and is continuing as at the date of such request, if the Lessee shall, not earlier than 450 days and not later than one year prior to the last day of the Initial Term, request in writing that the Lessor obtain bank borrowings on terms acceptable to it and the Lessee in order to finance the Lessor's ownership of the Property and Equipment during the Renewal Term, the Lessor shall make reasonable efforts to arrange for bank commitments to provide such financing.
(b) The Lessor will advise the Lessee and PCS Nitrogen Fertilizer Operations, Inc. in writing not later than 300 days prior to the last day of the Initial Term as to whether it has been able to obtain bank commitments on terms and conditions acceptable to it to finance the Property and Equipment for the period of Renewal Term. In such notice, the Lessor shall identify such terms and conditions. In order to renew the lease of the Property and Equipment for the Renewal Term, the Lessee must notify the Lessor in writing within thirty (30) days of its receipt of the foregoing notice of the Lessor, indicating (i) whether the terms and conditions of such financing are acceptable to it and (ii) whether, if PCS Nitrogen Fertilizer Operations, Inc. does not exercise its Purchase Option or, having exercised such option, PCS Nitrogen Fertilizer Operations, Inc. fails to effect the purchase contemplated thereby, the Lessee agrees to lease the Property and Equipment for the Renewal Term. The notice of the Lessee contemplated by the preceding sentence shall be irrevocable.
(c) The lease of the Property and Equipment shall not be renewed for the Renewal Term if (i) the Lessor shall not obtain bank commitments to finance the Property and Equipment on terms and conditions acceptable to it and the Lessee, (ii) the Lessee shall not give the notice of renewal set forth in paragraph (b) above, (iii) PCS Nitrogen Fertilizer Operations, Inc. shall purchase the Property and Equipment pursuant to the exercise of the Purchase Option or (iv) the Lessor and the Lessee shall not have agreed on the Lease Termination Amount for the Renewal Term.
(d) The Lessor shall schedule the closing of the financing contemplated by the bank commitments on or before the date which is six (6) months prior to the end of the Initial Term. The Lessor shall notify the Lessee in writing promptly of the closing of such financing or that such financing shall have failed to close on such scheduled date. Upon the date of such closing the Property and Equipment shall, subject to the terms and conditions of this Lease, be leased hereunder for the Renewal Term. If the closing shall not occur on or before the date which is six (6) months prior to the last day of the Initial Term, then the lease of the Property and Equipment shall terminate on the last day of the Initial Term and the Lessee shall comply with its obligations with respect to such termination as set forth in paragraph (b) of Section 13 hereof.
Contract Renewal The Contract is hereby renewed for a period of one (1) year, with a new expiration date of June 8, 2021, under the same terms and conditions.
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:
(i) Following notice by ICANN to Registry Operator of a fundamental and material breach of Registry Operator’s covenants set forth in Article 2 or breach of its payment obligations under Article 6 of this Agreement, which notice shall include with specificity the details of the alleged breach, and such breach has not been cured within thirty (30) calendar days of such notice, (A) an arbitrator or court of competent jurisdiction has finally determined that Registry Operator has been in fundamental and material breach of such covenant(s) or in breach of its payment obligations, and (B) Registry Operator has failed to comply with such determination and cure such breach within ten (10) calendar days or such other time period as may be determined by the arbitrator or court of competent jurisdiction; or
(ii) During the then current Term, Registry Operator shall have been found by an arbitrator (pursuant to Section 5.2 of this Agreement) or a court of competent jurisdiction on at least three (3) separate occasions to have been in (A) fundamental and material breach (whether or not cured) of Registry Operator’s covenants set forth in Article 2 or (B) breach of its payment obligations under Article 6 of this Agreement.
(b) Upon the occurrence of the events set forth in Section 4.2(a) (i) or (ii), the Agreement shall terminate at the expiration of the then-‐current Term.
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.
