Initial Renewal Term definition

Initial Renewal Term has the meaning given to it in Section 10.1.
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Initial Renewal Term means the first [***] term immediately after the Initial Term. The Initial Term, the Initial Renewal Term and any Renewal Term(s) shall be collectively referred to as the “Term”.
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Initial Renewal Term. The "Initial Renewal Term" shall begin on the 26th Amendment Effective Date and end upon the completion of twenty-four (24) months. Upon expiration of the Initial Renewal Term, the Agreement will be automatically extended by a period of three (3) months (“Three Month Extension”). Following the expiration of Three Month Extension the Agreement is automatically extended on a month-to-month basis ("Extended Renewal Term") until either party terminates upon 60 days' prior written notice. This Agreement may be superseded at any time by a new agreement between authorized parties which expressly indicates it supersedes this Agreement. If Customer purchases any services after the expiration of the Term, Customer shall pay Company's standard rates for those services, as set forth in the Guide or Tariffs. The terms of this Agreement will continue to apply during any service-specific commitments that extend beyond the Term. "Term" means the Initial Renewal Term, Three Month Extension and the Extended Renewal Term.
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Examples of Initial Renewal Term in a sentence

  • Upon completion of the Initial Renewal Term, this Agreement shall thereafter automatically renew for additional 12 month periods (each, a "Subsequent Renewal Term"), unless sooner terminated in accordance with this Agreement or written notice is given by one party to the other at least 90 days prior to the expiration of the Initial Renewal Term or any Subsequent Renewal Term, as applicable.

  • The Initial Renewal Term and each "Renewal Term" (as defined in this SECTION 2(a)) shall be renewed for successive one (1)-year periods (each, a "RENEWAL TERM") if at least three (3) months prior to the expiration of the Initial Renewal Term or a Renewal Term, as the case may be, either party hereto shall not have given the other party written notice not to renew this Agreement.

  • The Initial Term, Initial Renewal Term and any Subsequent Renewal Term are herein collectively referred to as the "Employment Period." Where the context permits, all references to the Company shall include an affiliate of the Company by which the Executive is employed.

  • The Initial Renewal Term and any subsequent Renewal Term are collectively referred to herein as the “Term”.

  • Following expiration of the Initial Term, the Agreement shall be renewed for a one (1)-year period (the "Initial Renewal Term") if at least one (1) month prior to the expiration of the Initial Term either party hereto shall not have given the other party written notice not to renew this Agreement.

  • The Initial Renewal Term and each "Renewal Term" (as defined in this Section 2) shall be renewed for successive one (1)-year periods (each, a "Renewal Term," the Initial Term, the Initial Renewal Term, if any, and each Renewal, if any, collectively, the "Term") if at least one (1) month prior to the expiration of the Initial Renewal Term or a Renewal Term, as the case may be, either party hereto shall not have given the other party written notice of its intention not to renew this Agreement.

  • The Agreement shall renew automatically without further action of the parties for successive one (1) year terms (each a “Renewal Term”) unless either party provides notice of termination at least one hundred and eighty (180) days prior to the expiration of the Initial Renewal Term or current Renewal Term, as the case may be.

  • The Service Term on the Satellite may be extended at EchoStar’s option (the “EchoStar Renewal Option”) for the Initial Renewal Term in the event that prior to the expiration of the Initial Renewal Option Deadline, Customer did not exercise the Customer Initial Renewal Option and ***, provided that, at the time of the EchoStar Renewal Option, EchoStar is in full compliance with its obligations under this Agreement.

  • Customer may, at its sole option, renew the Agreement for an additional one (1) year period (the “Initial Renewal Term”) by providing Company with written notice thereof at least 60 days prior to the expiration of the Initial Term, and the Parties may mutually agree to additional one-year periods (“Additional Renewal Term(s)”), which shall be effective upon the expiration of the Initial Renewal Term.

  • The Agreement shall renew automatically without further action of the parties for successive one (1) year terms (each a “Renewal Term”) unless either party provides notice of termination at least one hundred eighty (180) days prior to the expiration of the Initial Renewal Term or current Renewal Term, as the case may be.


More Definitions of Initial Renewal Term

Initial Renewal Term shall begin on the 26th Amendment Effective Date and end upon the completion of twenty-four (24) months. Upon the expiration of the Initial Renewal Term, the Agreement is automatically extended on a month to month basis (“Extended Renewal Term”) until either party terminates upon 60 days prior written notice. The Agreement may be superseded at any time by a new agreement between authorized parties which expressly indicates it supersedes the Agreement. If Customer purchases any service after the expiration of the Term, Customer shall pay Company’s standard rates for those services, as set forth in the Guide or Tariffs.
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Initial Renewal Term has the meaning specified in Section 3.2 (BWS Renewal Options).
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Related to Initial Renewal Term

  • Renewal Term has the meaning set forth in Section 2.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Initial Term has the meaning set forth in Section 7.1.

  • Renewal Period the period described in clause 13.1.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Extension Term means the time period defined in §2.C.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on June 30, 2019.”

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto. (a) Base Rent Paid Upon Execution: $ N/A as Base Rent for the period N/A.

  • Additional Term means that term commencing on the last day of the Basic Term and terminating one (1) year thereafter.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Commercial Premises means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Part B takes place.

  • Basic Term shall have the meaning specified in Section 2.2 of the Lease.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Lease Commencement Date means the Closing Date. The “Lease Expiration Date” shall mean the later of (i) the date of the final payment in full of the French Advances and (ii) the Vehicle Lease Expiration Date for the last Lease Vehicle leased by the Lessee hereunder. The “Term” of this Agreement shall mean the period commencing on the Lease Commencement Date and ending on the Lease Expiration Date.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;