TERMINATION DURING RENEWAL TERM Sample Clauses

TERMINATION DURING RENEWAL TERM. This Agreement may be terminated by either party by delivering one (1) year's prior written notice of such termination to the other party.
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TERMINATION DURING RENEWAL TERM. During any Renewal Term, either Party may terminate this Agreement upon providing 30 days written notice to the other Party.
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TERMINATION DURING RENEWAL TERM. If Employee's 51 employment is terminated by the Company pursuant to Section 3.1(a) hereof during any Renewal Term or such Renewal Term is not renewed in accordance with Section 1.1 hereof, Employee shall have no further rights against the Company hereunder, except for the right to receive (i) $1 million as severance payment (ii) payment of any accrued but unpaid vacation time, (iii) reimbursement of expenses to which Employee is entitled under Section 2.6 hereof , and (iv) any rights in respect of Option Shares pursuant to Section 2.4 hereof. The severance payments shall not be paid until the Employee ceases to be a covered employee under Section 162(m) of the Code. Between the Employee's termination of employment and the date payment is made pursuant to this Section, the severance payment shall earn interest at the rate of 60% of the prime rate as reported in The Wall Street Journal.
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TERMINATION DURING RENEWAL TERM. During any Renewal Term of this Agreement, XxXxx may terminate this Agreement for any reason, by providing at least sixty (60) days written notice of such termination to the Bank. At any time after XxXxx provides written notice of such termination to the Bank but before the completion of the period of notice designated by XxXxx, the Bank may, in its sole discretion, by providing written notice to XxXxx, decline to accept all or part of the period of notice designated by the XxXxx, whereupon this Agreement shall terminate on such earlier date designated by the Bank.
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TERMINATION DURING RENEWAL TERM. If this Agreement is terminated by the Bank during any Renewal Term without Cause in accordance with Subsection 4(c) of this Agreement, the Bank shall pay XxXxx his compensation earned up until the time of such termination. In addition, the Bank shall pay or provide XxXxx with the following consideration as severance compensation, provided that he complies with all of the provisions of Subsection 5(c) below: A. The Bank shall pay XxXxx an amount equal to his base salary for a period of sixty (60) days, subject to the terms of Section 7. c.
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Related to TERMINATION DURING RENEWAL TERM

  • Non-Renewal Termination If the Agreement expires as set forth in Section 6(g) [Non-Renewal Termination], then, subject to Section 22 [Compliance with Section 409A], in addition to all salary, annual bonuses, expense reimbursements, benefits and accrued vacation days earned by the Executive pursuant to Section 4 through the date of the Executive’s termination of employment, the Executive shall be entitled to the compensation set forth in Sections 8(d)(i) through (v), provided that within sixty days following the Executive’s termination of employment (i) the Executive has executed and delivered the Release to the Company, and (ii) the Release has become irrevocable:

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Extension Term The options to extend the Term of this Lease as described above shall not be deemed exercised by Tenant unless at least twenty-four (24) months prior to the Lease Expiration Date for the Primary Term or at least twenty-four (24) months prior to the expiration of the Extension Term for the first (1st) Extension Term, Tenant shall have delivered written notice to Landlord of Tenant's irrevocable election to so extend this Lease at the end of the Primary Term or the first (1st) Extension Term, as applicable. Tenant's failure to deliver one (1) such timely notice to Landlord shall terminate all future Extension Terms, if any, following the Extension Term to which such notice specifically relates. Subject to the provisions of paragraph 5 of this Lease, the terms and conditions of this Lease shall apply to each Extension Term with the same force and effect as if such Extension Term had originally been included in the Primary Term of the Lease. The right of Tenant to exercise its rights with respect to the Extension Terms shall be conditioned upon this Lease being in full force and effect and no Event of Default then existing as of the Lease Expiration Date (for the first (1st) Extension Term), or expiration of the first (1st) Extension Term (for the second (2nd) Extension Term). The Primary Term, together with any Extension Term with respect to which Tenant properly exercises its option, and for which the conditions related thereto are satisfied, shall constitute the "TERM" of this Lease.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Expiration/Termination Upon expiration of the Service Period or termination pursuant to Section 7 of the General Terms, Customer shall immediately cease use of the Service and return or destroy (in accordance with Avaya’s instructions) any Deliverables provided to Customer in connection with the Service, including any Avaya’s Intellectual Property. Upon request, Customer shall certify in writing to Avaya that Customer has complied with this provision and Avaya may provide such certification to its suppliers.

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • Duration/Termination 1. This License Agreement is concluded for an indefinite period, subject to termination in accordance with the provisions of article 6.2 and 6.

  • Renewal Terms Immediately following the Initial Term this Agreement shall automatically renew for successive one-year periods (a “Renewal Term”).

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