Common use of Term and Pricing Clause in Contracts

Term and Pricing. Subject to the provisions below, the term (“Term”) of this Agreement shall be 60 months from the Effective Date. (a) This Agreement shall automatically renew for successive terms equal to the original Term (each an “Extension Term”) unless either party has given sixty (60) days notice ,in writing, during the six (6) month period prior to the renewal date of its desire to terminate this agreement. All Extension Terms shall be subject to the terms and conditions hereunder. (b) Stericycle reserves the right to adjust the contract price to account for operational changes it implements to comply with documented changes in law, to cover increases in the cost of fuel, insurance, or residue disposal, or to otherwise address cost escalation. Stericycle may charge Customer a fee to cover its administrative costs in the event that Customer changes its service requirements or program level during the Term or Extension Term. Stericycle may change the price of any of its goods or services not covered by this Agreement at any time without notice to Customer. (c) In the event Customer terminates this Agreement prior to expiration of the term hereof (or any “Extension Term”) or fails to perform any of its obligations under this Agreement, Stericycle shall have, without limitation, all rights and remedies provided at law or in equity, as well as the right to recover from Customer an amount (which the parties hereby acknowledge constitutes Stericycle’s liquidated damages and not a penalty) equal to fifty percent of the Customer’s average monthly charge multiplied by the number of months (including any partial months), remaining until the expiration date of the then current term hereof. (d) Stericycle shall have the right to terminate this Agreement at any time by giving Customer at least sixty (60) days notice in the event that it is unable to continue performing its obligations under this Agreement due to the suspension, revocation, cancellation or termination of any permit required to perform this Agreement or in the event that a change in any law or regulation makes it impractical or uneconomical, in Stericycle’s sole discretion, to continue performing this Agreement.

Term and Pricing. Subject to the provisions below, the term (“Term”) of this Agreement shall be 60 months from the Effective Date. (a) This Agreement shall automatically renew for successive terms equal to the original Term (each an “Extension Term”) unless either party has given sixty (60) days notice ,in writing, during the six (6) month period prior to the renewal date of its desire chooses to terminate this agreementAgreement as set forth below. All Extension Terms shall be subject to the terms and conditions hereunder. (b) Stericycle reserves the right to adjust the contract price to account for operational changes it implements to comply with documented changes in law, to cover increases in the cost of fuel, insurance, or residue disposal, or to otherwise address cost escalation. Stericycle may charge Customer a fee to cover its administrative costs in the event that Customer changes its service requirements or program level during the Term or Extension Term. Stericycle may change the price of any of its goods or services not covered by this Agreement at any time without notice to Customer. (c) Either party may terminate this Agreement for convenience and without cause or further liability upon sixty (60) days written notice to the other party provided the terminating party is not in breach of any of the terms and conditions of this Agreement. In the event Customer terminates this Agreement prior of such termination, it is understood and agreed that only the amounts due to expiration of Stericycle for services provided and incurred to and including the term hereof (or any “Extension Term”) or fails to perform any of its obligations under this Agreement, Stericycle shall have, without limitation, all rights and remedies provided at law or in equity, as well as the right to recover from Customer an amount (which the parties hereby acknowledge constitutes Stericycle’s liquidated damages and not a penalty) equal to fifty percent of the Customer’s average monthly charge multiplied by the number of months (including any partial months), remaining until the expiration date of the then current term hereoftermination, will be due and payable. (d) Stericycle d)Stericycle shall have the right to terminate this Agreement at any time by giving Customer at least sixty (60) days notice in the event that it is unable to continue performing its obligations under this Agreement due to the suspension, revocation, cancellation or termination of any permit required to perform this Agreement or in the event that a change in any law or regulation makes it impractical or uneconomical, in Stericycle’s sole discretion, to continue performing this Agreement.. Paragraph 3 of the original terms and conditions of the Agreement shall be replaced with the following paragraph 3: