First Renewal Period definition

First Renewal Period is defined in Section 2(b).

First Renewal Period means a period of time running from the expiry of the Initial Licensing Period and for a period of two (2) Contract Years thereafter.

First Renewal Period has the meaning set out in Section 3.3(a);

Examples of First Renewal Period in a sentence

• The Initial Term, the First Renewal Period (if elected), and the Second Renewal Period (if elected) are together referred to as the “Term” and the last day of the Term is referred to as the “Expiration Date.” During the First Renewal Period and the Second Renewal Period Seller will have (i) no obligation in accordance with Section 3 to sell any HTS Product to Buyer that is not a KCD-Branded Product and (ii) no obligation in accordance with Section 4 to sell any Outlet Product to Buyer.

• The second renewal period is referred to as the “Second Renewal Period.” Buyer will deliver written notice to Seller not later than six months prior to the end of the First Renewal Period if Buyer elects to extend the Term for the Second Renewal Period.

• Buyer will deliver written notice to Seller not later than six months prior to the end of the Initial Term if Buyer elects to extend the Term for the First Renewal Period.

• Tenant’s right to exercise the Second Renewal Option is conditioned upon Tenant’s proper renewal of the Term for the First Renewal Period.

• The Renewal Option for the First Renewal Period (the “First Renewal Option”) shall be exercisable by delivery of written notice from Tenant to Landlord of Tenant’s election to exercise the First Renewal Option at least twelve (12) months before the First Renewal Period Commencement Date, time being of the essence.

More Definitions of First Renewal Period

First Renewal Period shall have the meaning given to it in Section 22.1 hereof.

First Renewal Period means the first renewal of this Exploration Right granted in terms of Section 81 of the Act read together with Regulation 33;

First Renewal Period. “Foreign Exchange”

First Renewal Period means the period commencing on the day following the termination of the Initial Period and terminating 5 (five) years thereafter;

First Renewal Period. Second and any Additional Renewal Periods (2001) First Year: $100,000 (2004) 4th Year and each year thereafter (2002) 2nd Year: $125,000 $200,000 (2003) 3rd Year: $150,000

First Renewal Period. As set forth in the 1st Amendment, Customer extended the Term of the Agreement from March 11, 2012 until March 10, 2013 ("First Renewal Period").

First Renewal Period means the period of five (5) years from the expiry of the Term;