Initial term and renewal term clause
WebbThe employment relationship pursuant to this Agreement shall be for an initial term commencing on the Effective Date set forth above and continuing for a period of three … WebbRenewal of Initial Term. Provided Tenant is not in default under the terms of this Lease beyond the period allowed for cure, Landlord grants Tenant the option to renew the …
Initial term and renewal term clause
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WebbInitial Term and Renewal. The initial term of this Agreement is five (5) years. The Agreement will automatically renew for an indefinite period thereafter, unless either … Webb12 jan. 2024 · The Initial Term may be renewed for two consecutive two (2) year periods (each an “Additional Term”) upon mutual agreement of both parties by giving written …
WebbThe initial term of this Lease Agreement shall expire on October 25, 2005 and shall immediately be renewed for an additional term of seven (7) years (the “First Renewal Term”). Unless sooner terminated as provided in the Lease Agreement, as amended, the First Renewal Term shall terminate at midnight Pacific Time on October 24, 2012. Webb1 dec. 2024 · The initial term of these contracts generally ran for a period of between 24 to 36 months, and would automatically renew for another full contract term if the customer did not terminate the contract in writing at least 42 days before the end of the initial term.
Webb16 juni 2024 · A lease renewal notice period is the timeframe before the end of the lease that a landlord or tenant must inform the other party if they are not going to renew the lease. This lease renewal notice period should be spelled out in the lease but, in most instances, will be dictated by state law. Webb5 sep. 2024 · A renewal term is a fixed period after the initial term. During this time, the franchisee may choose whether they will continue operating the franchise business. Therefore, you may often find that the renewal and initial terms are the same. For instance, your agreement may consist of an initial term of five years and a renewal …
Webb23 maj 2024 · For example, an agreement with an initial term of 1 year may provide that it automatically renews for a further year at the end of each subsequent year. Option to renew An option to renew works by granting a party with the right (but not an obligation) to renew the agreement at the end of the initial term.
WebbProvided Tenant is not then in default of any terms and conditions of the Lease, Tenant shall have two (2)consecutive renewal options to extend the Term as to part (at least 75% of the Premises) or all of the Premises and any expansion space added to the Premises for an additional five (5)years each. robert walsh raymond jamesWebbInitial Term and Renewals. The initial term of this Amended Lease shall commence on November 1, 2024 and continue for a period of 30 years. This Amended Lease will … robert walter scullyWebbTerm and Renewal This Agreement shall become effective as of the Effective Date and shall remain in effect for a period of three years from and after the Live Date (the “Initial Term”), and thereafter shall automatically renew for successive three year terms (each such period, a “Renewal Term”) unless terminated by any party giving ... robert walsh texas senateWebbA clause that is automatically extended without amendment, year over year, unless one of the parties provides notice in writing that it is not to be renewed. Also known as an … robert walter columbus ohioWebbsuccessive one (1) year periods thereafter (each a "Renewal Term"), unless either Party provides written notice of intent not to renew at least thirty (30) days prior to the expiration date of the Initial Term or the then- current Renewal Term, if any. The Initial Term and Renewal Term are collectively referred to as the "Term." robert walter mcelroyWebbContract renewal is the process through which the initial term of a contract expires, and the parties agree - either actively, or passively, through automatic renewal - to 'renew' the term of the contract so that the arrangement continues, and the contract remains enforceable for the new period. robert walter cresleigh homesWebb12 jan. 2024 · These clauses can be desirable once parties think one long-term relationship. The utility of having the contractual period extend automatically saves both … robert walter scully dead