Term and Automatic Extension Clause Samples
The 'Term and Automatic Extension' clause defines the initial duration of an agreement and outlines the conditions under which the contract will automatically renew for additional periods. Typically, this clause specifies a fixed starting term—such as one year—and states that the agreement will continue to renew for similar periods unless one party provides advance written notice of non-renewal. Its core practical function is to ensure continuity of the contractual relationship while providing both parties with a clear process for ending the agreement if desired, thereby preventing accidental lapses or unwanted extensions.
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Term and Automatic Extension. Executive’s employment hereunder shall be for a term of two years (the “Term”) commencing on the Effective Date. The Term shall automatically extend for additional one-year periods (the “Automatic Extension”), unless either party provides written notice to the other not less than 60 days prior to the applicable one-year anniversary of the Effective Date of its desire not to extend the Term. If such a written notice is effectively given and the Automatic Extension is not effected, then Executive’s employment hereunder shall terminate as of the last day of the then current Term. For the avoidance of doubt, the initial Term commences on December 14, 2005, therefore the expiration date shall be December 14, 2007 unless the Automatic Extension is triggered as a result of no notice being given on or before October 15, 2006 (60 days prior to the one-year anniversary of the commencement date) and thereby the Term will be automatically extended to December 14, 2008. Similarly, if no notice is given on or before October 15, 2007 (60 days prior to the next one-year anniversary of the commencement date), the Term will automatically be extended to December 14, 2009.
Term and Automatic Extension. The initial term of this Lease (the "Initial Term") respecting an item of Equipment shall commence and end on the dates stated on the Lease Schedule as the commencement and termination dates for that item of Equipment. Lessee or Lessor may terminate this Lease at the expiration of the Initial Term by giving the other at least 90 days prior written notice of termination. If neither Lessee nor Lessor gives such notice, then the term of this Lease shall be extended automatically on the same rental and other terms set forth herein (except that in any event rent during any extended term shall be payable in the amounts and at the times provided in paragraph (7) for successive periods of one month until terminated by either Lessee or Lessor giving the other at least 90 days prior written notice of termination.
Term and Automatic Extension. Consultant’s engagement hereunder shall be for a term of two years (the “Term”) commencing on the Effective Date. The Term shall automatically extend for additional one-year periods (the “Automatic Extension”), unless either party provides written notice to the other not less than 180 days prior to expiration of the Term.
Term and Automatic Extension