Term Extension Option. Either Party may provide written notice to the other Party that such Party intends for this Agreement to terminate at the end of the Term not later than five (5) years prior to the end of the Term and at least one (1) year prior to the end of every fifth (5th) year thereafter. In the event that neither Party has provided written notice to the other Party that this Agreement shall terminate at the end of the Term, the Term shall be automatically extended for additional successive five (5) year periods (collectively, the “Extended Term”).
Appears in 5 contracts
Samples: Construction, Operating and Cooperative Endeavor Agreement, Construction, Operating and Cooperative Endeavor Agreement, Construction, Operating and Cooperative Endeavor Agreement
