Examples of Renewal Term in a sentence
Licensee shall have the option to renew each Supplemental Agreement for up to four (4) additional terms of five (5) years each (“Renewal Terms”), provided that Licensee is not then in default under this Agreement beyond any applicable grace or cure period and that Licensee gives a notice to renew to NGrid not less than six (6) months prior to the expiration of the Initial Term or Renewal Term, as the case may be.
In the event this Agreement is terminated by the Fund prior to the end of the Initial Term of any subsequent Renewal Term, the Fund shall be obligated to pay the Custodian the remaining balance of the fees payable to the Custodian under this Agreement through the end of the Initial Term or Renewal Term, as applicable.
On the expiry of the Initial Term the Agreement shall continue for each Renewal Term, unless earlier terminated by either Party in accordance with the Agreement.
Either party may terminate this Agreement at the end of the Initial Term or at the end of any successive Renewal Term (the "Termination Date") by giving the other party a written notice not less than ninety (90) days' prior to the end of the respective term.
The employment of the Executive by the Company and this Agreement shall terminate at the election of the Company without Cause, and at the election of the Executive for any reason other than Good Reason or the non-renewal of the Initial Term or any Renewal Term in each case by the Executive (“Voluntary Resignation”), in either case upon thirty (30) days prior written notice to the Executive or the Company, as the case may be.