Extension of Initial Term. Upon each annual anniversary date of this Agreement, this Agreement shall be extended automatically for successive terms of one year each, unless either the Corporation or the Employee gives contrary written notice to the other not later than the annual anniversary date.
Extension of Initial Term. Section 1.04 of the LLC Agreement is amended and restated in its entirety to read as follows:
Extension of Initial Term. The Initial Term of this Agreement will be automatically extended after the third anniversary of the Closing Date for additional successive periods of one year each, each such extension to be effective immediately after the last day of the term then in effect, with the first such extension period beginning on the third anniversary of the Closing Date (each such additional period, an "Additional Term") (the Initial Term and any Additional Term thereof pursuant to this Section 1(b) being hereinafter referred to as the "Employment Period"), unless either the Company gives the Executive or the Executive gives the Company not less than twelve months written notice prior to the end of the Initial Term or any such Additional Term of such party's intention not to extend the Employment Period.
Extension of Initial Term. (a) The initial term of the Lease is hereby extended for a period of fourteen (14) calendar months commencing on May 1, 2008 and ending on June 30, 2009 (the “Second Extension Term”). The Second Extension Term shall be upon all of the same terms and conditions of the Lease, except that the Monthly Base Rent payable by Lessee to Lessor during the Second Extension Term shall be as set forth in Paragraph 3 hereof.
Extension of Initial Term. The Initial Term shall be automatically extended an additional five (5) years from the end of the Initial Term ("Extended Term"); provided, however, that the Purchaser shall have the option to elect to terminate this Agreement effective on the last day of the Initial Term by providing written notice of such election to Seller no later than the date that is three (3) years prior to the end of the Initial Term.
Extension of Initial Term. The Initial Term of the Agreement is hereby extended for a period of forty-eight (48) months from the Effective Date of this Amendment.
Extension of Initial Term. In order to effect the extension of the Initial Term, the first sentence of Section 1 of the Agreement is hereby deleted in its entirety and replaced with the following sentence: "The term of this Agreement shall begin as of the Effective Date and, unless sooner terminated in accordance with subsections (a), (b) or (c) of this Section 1 or any other provision of this Agreement, shall continue until December 31, 2004 (such term, the "Initial Term")."
Extension of Initial Term. Notwithstanding anything to the contrary in Section 1(a) of this Agreement, upon the expiration of the Initial Term (March 11, 2003), this Agreement shall be renewed automatically for an additional one (1) year term (the "Renewal Term").
Extension of Initial Term. Upon expiration of the initial term of this Agreement, this Agreement shall be extended automatically for successive terms of one year each, unless either the Corporation or the Employee gives contrary written notice to the other not later than 90 days prior to the annual anniversary date thereof.
Extension of Initial Term. Lessee shall have the right and option to extend the Initial Term of this Lease for the renewal option periods set forth in the Basic Lease Information (each a “Renewal Option”) upon all the terms, covenants, and conditions set forth in this Lease, except that Base Rental and the Expense Stop shall be established as set forth in Section 3.5 below. The Renewal Option periods may be exercised only if (i) Lessee expressly and unconditionally exercises such option by providing written notice thereof to Lessor at least six months (6) prior to the expiration of the Initial Term or the first Renewal Option term (as applicable), and (ii) Lessee is not in default under this Lease beyond any applicable cure periods at the time of Lessee’s exercise of the option rights set forth herein and at the time of commencement of such Renewal Option term. If Lessee does not satisfy the requirements of subsections (i) and (ii), the option rights set forth in this Section shall automatically be deemed null and void.
