Common use of TERM - OPTION TO RENEW Clause in Contracts

TERM - OPTION TO RENEW. (a) The Term of this Agreement starts on the Commencement Date and expires on the date stipulated on the Information Page. (b) Provided that the Licensee [is not then in default beyond applicable cure periods] [NTD: Consider whether the Licensee should be permitted to renew if it was habitually in default during the Term/Renewal Term] of any of its obligations under this Agreement, this Agreement will automatically be renewed for the Renewal Term(s) unless the Licensee gives the Licensor at least one hundred and twenty (120) days written notice prior to the end of the Term of the Licensee’s intention not to renew. Each Renewal Term will be governed by the same terms and conditions set out herein except for: (i) any further right to renew, and (ii) the License Fee, which will increase at the start of each Renewal Term by a percentage equal to the percentage of the increase in the Consumer Price Index from the Commencement Date or start of the previous Renewal Term (if any) as the case may be, to the start of the applicable Renewal Term.

TERM - OPTION TO RENEW. (a) The Term of this Agreement starts on the Commencement Date and expires on the date stipulated on the Information Page, unless it is terminated earlier as provided in this Agreement. (b) Provided that the Licensee [is not then in default beyond applicable cure periods] [NTD: Consider whether the Licensee should be permitted to renew if it was habitually in default during the Term/Renewal Term] of any of its material obligations under this AgreementAgreement beyond the applicable cure period, this Agreement will automatically be renewed for the Renewal Term(s) unless the Licensee gives the Licensor at least one hundred and twenty (120) 120 days written notice prior to the end of the Term or a Renewal Term of the Licensee’s intention not to renewrenew the Licence. Each Renewal Term will be governed by the same terms and conditions set out herein except for: (i) any further right to renewthe Renewal Term will be amended as appropriate, (ii) Section 2(g) will not apply, and (iiiii) the License Licence Fee, which will increase at the start of each Renewal Term by a percentage equal to the percentage of the increase in the Consumer Price Index from the Commencement Date or the start of the previous Renewal Term (if any) ), as the case may be, to the start of the applicable Renewal Term.