Examples of Initial Agreement Term in a sentence
The Department may, at its sole option, offer the Provider an extension of the Initial Agreement Term for one or more periods up to an additional maximum of 10 years by giving Notice to the Provider not less than 60 Business Days prior to the end of the then current Agreement Term.
Initial Agreement Term This Agreement shall become effective on the 24 day of July, 2020 and end on the 30th day of December, 2020.
Nothing in this Article related to the Initial Agreement Term or the possibility of agreement to an Extended Agreement Term may be construed or applied in any manner to create any expectation that any right or authority related to this Agreement granted by the City/Village to the Vendor shall continue beyond the Initial Agreement Term or an approved Extended Agreement Term.
The existing funding was to be used to procure professional architecture and engineering services.
Customer has the Early Termination right after the first year of the Initial Agreement Term (as described in Section 3), and both parties have the right to not renew the Agreement for a Renewal Term.
At the end of the Initial Agreement Term, GE and Licensor may mutually agree to renew and extend this Agreement for successive one (1) year terms (the “Agreement Renewal Terms”) in a signed written amendment.
The “Term” shall collectively be the Initial Agreement Term plus all Agreement Renewal Terms.
Upon expiration of the Initial Agreement Term, the Parties may mutually determine to renew this agreement for an additional period to be mutually determined (the "Renewal Agreement Term", together with the "Initial Agreement Term", the "Agreement Term").
The “Term” of this Agreement will commence on the Effective Date and continue for the Initial Agreement Term checked in Section 1 above.
RENEWAL OPTION: Provided that there is no Event of Default (as defined herein) or any event which with notice or lapse of time, or both, could become an Event of Default, this Agreement will automatically renew on a one (1) year basis upon expiration of the Initial Agreement Term.