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 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 The Agreement may be superseded at any time by a new agreement between authorized parties which expressly indicates it supersedes the Agreement.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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Examples of Initial Renewal Term in a sentence

  • In the event either party decides to terminate the License upon expiration of the Initial Renewal Term or thereafter, such party shall provide not less than six (6) months’ prior notice to the other party.

  • Thereafter, the Managed Hosting Schedule will renew automatically upon the conclusion of each twelve month period following the Schedule Effective Date for successive one (1)-year periods (each, a “Renewal Term”), at Blackboard’s then current pricing for Customer’s then current usage level, unless either Party provides notice of its desire not to renew more than thirty (30) days prior to the end of the Initial Renewal Term or then-current Renewal Term, as applicable.

  • The pages that follow contain general instructions for how to complete each section of the Local Public Body Annual Report Form.

  • At the end of the Initial Term, the Initial Renewal Term if elected by Customer or any Additional Renewal Terms agreed by the Parties, the Term will extend on a month-to-month basis until terminated in writing by either Party upon notice to the other Party, or until extended by a mutually executed amendment hereto (“Extended Term”).

  • Chairman’s Report – Ethics Policy Development The following Ethics Policy was presented to the Board: ETHICS AND CONDUCT POLICYIt shall be the policy of the Lansing Community College Board of Trustees that all Trustees follow high standards of ethics and conduct.

  • The company charter established company’s General Director as authorized to act on the company’s behalf without a power of attorney.9 safety management plans and camp site safety measures.

  • In the event either party decides to terminate the License upon expiration of the Initial Renewal Term or thereafter, such party shall provide not less than ninety (90) days prior notice to the other party.

  • Thereafter, the Managed Hosting Schedule will renew automatically upon the conclusion of each twelve month period following the Schedule Effective Date for successive one (1)-year periods (each, a “Renewal Term”), at Blackboard’s then current pricing for Order Activity’s then current usage level, unless either Party provides notice of its desire not to renew more than thirty (30) days prior to the end of the Initial Renewal Term or then-current Renewal Term, as applicable.

  • As is clear, no statistic is capable of responding to a great variety of objectives without being inefficient in any of them.

  • If Lessee elects, or is deemed to elect, the Initial Renewal Option for a Lease, then such Lease (with respect to all, but not less than all, of the Equipment under such Lease) shall be extended for a term of thirty-six (36) months, commencing on the day following the last day of the Initial Term (each, an “ Initial Renewal Term ”).


More Definitions of Initial Renewal Term

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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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 “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • 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 Beginning (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 August 31, 2024.”

  • 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 sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Base Rent As defined in Section 3.1.

  • Additional Term shall have the meaning set forth in Section 8.2.

  • 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 Appendix 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 has the meaning specified in Section 3.2 of the Master Lease.

  • 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;