Common use of Term of Authorization Clause in Contracts

Term of Authorization. The term of this authorization is from the date hereof until June 1, 2025. Within three months prior the expiration of the term of this authorization, Party A may elect to renew this authorization for an additional twenty (20) year period after the initial term hereof or any renewal term.

Term of Authorization. The term of this authorization is from the date hereof until June 1until, 20252026. Within three months prior the expiration of the term of this authorization, Party A may elect to renew this authorization for an additional twenty (20) year period after the initial term hereof or for unlimited twenty (20) year periods, three months prior to the termination of any renewal term.