Term and Termination Date a. This Contract Franchise shall be effective for a term of ten (10) years from the effective date of this Contract Franchise ordinance. Thereafter, this Contract Franchise will renew for additional one (1) year terms, unless either party notifies the other party of its intent to terminate or renegotiate the Contract Franchise at least ninety (90) days before the termination of the then current term. The additional term shall be deemed a continuation of this Contract Franchise and not as a new franchise or amendment.
b. Upon written request of either the City or IdeaTek, this Contract Franchise shall be renegotiated at any time in accordance with the requirements of state law upon any of the following events: changes in federal, state, or local laws, regulations, or orders that materially affect any rights or obligations of either the City or IdeaTek, including but not limited to the scope of the Contract Franchise granted to IdeaTek or the compensation to be received by the City hereunder.
c. If any clause, sentence, section, or provision of K.S.A. 12-2001, and amendments thereto, shall be held to be invalid by a court or administrative agency of competent jurisdiction, provided such order is not stayed, either the City or IdeaTek may elect to terminate the entire Contract Franchise. In the event of such invalidity, if IdeaTek is required by law to enter into a Contract Franchise with the City, the parties agree to act in good faith in promptly negotiating a new Contract Franchise.
d. Amendments under this section, if any, shall be made by Contract Franchise ordinance as prescribed by statute. This Contract Franchise shall remain in effect according to its terms, pending completion of any review or renegotiation provided by this section.
e. In the event the parties are actively negotiating in good faith a new Contract Franchise ordinance or an amendment to this Contract Franchise upon the termination date of this Contract Franchise, the parties by written mutual agreement may extend the termination date of this Contract Franchise to allow for further negotiations. Such extension period shall be deemed a continuation of this Contract Franchise and not as a new Contract Franchise ordinance or amendment.
Term and Termination Date. This Agreement will be effective when executed by the Parties, will continue in full force and effect for 1 year thereafter (the “Term”), and shall be further extended automatically annually (the “Renewal Term”), unless Seller provides written notice of its intention to terminate at least 60 days and not greater than 90 days prior to each anniversary date. Notwithstanding the preceding sentence, such termination shall not occur and the Agreement shall continue as if no notice was given unless, on the termination date, Seller has fully repaid Purchaser all monies due, and delivered to Purchaser the release as required by Section 22 below.
21.1 If effective notice by Seller under Section 21 above is not provided, then in addition to any other fees due under this Agreement, Seller agrees that it will pay an early termination fee equal to 0.75% multiplied by the Maximum Amount set forth in Section 1.17 herein multiplied by the number of months remaining in the Term or any Renewal Term (the “Early Termination Fee”).
21.2 Notwithstanding Section 21.1, if Seller was referred to Purchaser by a bank or other institution and intends to refinance with such bank its obligations under this Agreement, Seller may terminate this Agreement prior to the end of the Term or any Renewal Term by providing Purchaser 60 days’ prior written notice and refinancing with referring bank or institution. If such notice is provided and Seller refinances with the referring bank or other institution, no Early Termination Fee pursuant to Section 21.1 shall be due.
21.3 If Seller refinances its obligations under this Agreement with the bank that referred Seller to Purchaser without providing notice as required under Section 21.2, Seller may sf-3754873 terminate this Agreement prior to the end of the Term or any Renewal Term by paying an early termination fee equal to 1.5% multiplied by the Maximum Amount set forth in Section 1.17.
21.4 Purchaser may terminate this Agreement at any time by giving Seller 30 days’ prior written notice of termination, whereupon this Agreement shall terminate on the earlier date of 30 days thereafter or the end of the then current Term or Renewal Term, upon which termination date Seller shall fully repay to Purchaser all monies due and deliver to Purchaser the release as required under Section 22 below; provided that, if Purchaser for any reason, in good faith, deems itself insecure with respect to the prospect of repayment or performance of any obligations hereu...
Term and Termination Date. (a) This Franchise Agreement shall be effective for a term of ten (10) years from the effective date of this Franchise Agreement. Thereafter, this Franchise Agreement will renew for one
(1) additional ten (10) year term, unless either party notifies the other party in writing of its intent to terminate or renegotiate this Franchise Agreement not less than one hundred eighty (180) days before the termination of the then-current term. The additional term shall be deemed a continuation of the Franchise Agreement and not a new Franchise Agreement or amendment.
(b) Upon written request of the City or Franchisee, this Franchise Agreement shall be renegotiated at any time upon either of the following events: (i) any change in federal, state, or local laws, ordinances, regulations, orders, or rules that materially affects any rights or obligations of either the City or Franchisee under this Franchise Agreement; or (ii) notice is given not less than one hundred eighty (180) days before the termination of the then-current term.
(c) If any clause, sentence, section, or provision of K.S.A. 17-1901 et seq., and any amendments thereto, shall be held to be invalid by any court or administrative agency of competent jurisdiction, provided such order is not stayed, either the City or Franchisee may elect to request an amendment to the Franchise Agreement to be consistent with the order, unless the Franchise Agreement cannot be reasonably amended to remain a valid agreement in light of the order, in which event either the City or Franchisee may elect to terminate the entire Franchise Agreement. In the event of such invalidity and termination, if either the City or Franchisee is required by law to enter into a new agreement or an Ordinance Franchise with the other, the parties agree to act in good faith to promptly negotiate a new agreement or an Ordinance Franchise.
Term and Termination Date. This term of this Agreement begins as of the Effective Date and continues until October 12, [ * ] unless earlier terminated in accordance with this Section 9 or otherwise mutually agreed in writing by the Parties.
Term and Termination Date. Except as provided in this Section 6.01 and in Section 6.02, this Agreement shall terminate upon expiration of the Revenue Interest Period (the “Term”). If any payments are accrued hereunder on or prior to that date and are required to be made by one of the Parties hereunder, this Agreement shall remain in full force and effect until any and all such payments have been made in full, and (except as provided in Section 6.02) solely for that purpose. In addition, this Agreement shall sooner terminate if the Purchaser shall have exercised the Put Option in accordance with Section 5.07(a) or the Company shall have exercised the Call Option in accordance with Section 5.07(b), in each case upon the payment of the Put/Call Price. In addition, the Company may terminate this Agreement immediately upon Purchaser’s failure to pay the Additional Purchase Price on the Additional Purchase Price Closing Date or the Second Tranche Purchase Price on the Second Tranche Purchase Price Closing Date in accordance with Section 2.03(d) and Section 2.03(e), respectively. Upon expiration or termination of this Agreement in accordance with its terms, all right, title, and interest in and to the Assigned Interest shall automatically revert to Company, and Purchaser will have no further rights in the Assigned Interest, the Back-up Product True-Up Funds, or the Assigned Interest Collateral.
Term and Termination Date. This Agreement shall become effective on the date on which this Agreement has been approved by the governing bodies of all of the Parties and is signed by all of the Parties (the “Effective Date”), and shall terminate on December 31, 2050, unless extended by mutual agreement of the Parties pursuant to Section 14, below.
Term and Termination Date. Except as provided in this Section 6.01 and in Section 6.02, this Agreement shall commence on the Effective Date and shall terminate upon the earliest of the following (the “Term”):
Term and Termination Date. This Agreement shall be effective when executed by all of the Parties, shall continue in full force and effect for 12 months thereafter (the “Term”), and shall be further extended automatically annually (the “Renewal Term”), unless Seller provides written notice of its intention to terminate at least sixty (60) days prior the end of the respective Term or Renewal Term. Notwithstanding the preceding sentence, Seller’s obligations to pay the Obligations as they may become due shall survive any such termination .
21.1. If Seller provides notice of its intent to terminate under Section 21.2 herein, then in addition to any other fees or amounts due under this Agreement, Seller agrees that it will pay Purchaser an Early Termination Fee equal to 2% of the Maximum Amount if this Agreement is terminated during the first 12 months of this Agreement and 0.75% of the Maximum Amount if this Agreement is terminated during subsequent Terms, provided that Seller has given Purchaser 60 days’ notice of termination (“Early Termination Fee”). The Early Termination Fee will be waived should the Seller obtain traditional financing with a corporate credit facility or a royalty financing transaction.
21.2. Purchaser may terminate this Agreement at any time by giving Seller thirty (30) days’ prior written notice of termination, whereupon this Agreement shall terminate on the later date of thirty (30) days thereafter or the end of the then current Term or Renewal Term.
Term and Termination Date. The Termination Date is hereby amended to be November 30, 2016 for all purposes under the Lease. All references to the “Termination Date” in the Lease shall refer to the Termination Date as amended by this First Amendment. The Term of Lease is hereby amended to be the period beginning on the Commencement Date and ending on the Termination Date as amended by this First Amendment. All references to the “Term” in the Lease shall refer to the Term of Lease as amended by this First Amendment. Article 40 of the Lease (Option to Renew) is hereby deleted in its entirety and replaced with “Intentionally Omitted.” Notwithstanding the foregoing, the Termination Date (as modified by this First Amendment) shall be extended to December 31, 2016 for all purposes under the Lease only if (a) the Tri-Party Agreement (as hereinafter defined) has not been executed and delivered by the parties thereto on or prior to November 30, 2016, or (b) Tenant delivers written notice to Landlord on or prior to October 1, 2016 of Tenant’s election, in its sole discretion, to extend the Termination Date to December 31, 2016; provided, however, that if Landlord has not received such written notice on or prior to October 1, 2016, Tenant’s right to extend the Termination Date hereunder shall be null and void and of no further force or effect. Except as expressly set forth in the immediately preceding sentence or as otherwise expressly agreed in a writing executed by Landlord and Tenant, Tenant shall have no right or option to renew the Lease or to extend the Termination Date.
Term and Termination Date. This Agreement shall be effective when executed by all of the Parties, shall continue in full force and effect for thirty-six (36) months thereafter (the "Term"), and shall be further extended automatically annually (the "Renewal Term"), unless Seller provides written notice of its intention to terminate at least thirty (30) days prior the end of the respective Term or Renewal Term. Notwithstanding the preceding sentence, such termination shall not occur, and the Agreement shall continue as if no notice was given unless, on the Termination Date, Seller has fully repaid Purchaser all Obligations.
23.1. If Seller provides notice of its intent to terminate under Section 23 herein, then in addition to any other fees or amounts due under this Agreement, Seller agrees that it will pay Purchaser an Early Termination Fee equal to 3.0% of the Maximum Amount if this Agreement is terminated during the first twelve (12) months of this Agreement, and 1.50% of the Maximum Amount if this Agreement is terminated during the second twelve (12) months, and 0.50% of the Maximum Amount if this Agreement is terminated during the third twelve (12) months (“Early Termination Fee”). If this Agreement is terminated during the third twelve (12) months, the Early Termination Fee shall be prorated.
