Common use of Avail Term Clause in Contracts

Avail Term. The term during which Licensor shall be required to make programs available for licensing and Licensee shall be required to license programs hereunder shall commence on [September , 2012 and shall terminate on September , 2014] (“Initial Avail Term”). Licensor shall have the option to extend the Avail Term, beyond the Initial Avail Term, for an additional year (“Extension Period”), upon written notice to be delivered no later than ninety (90) days prior to the expiration of the Initial Avail Term. The Initial Avail Term together with the Extension Period, if any, shall be the “Avail Term”. Each 12-month period during the Avail Term beginning on [September , 2012] is an “Avail Year,” with the first such Avail Year being “Avail Year 1,” and the second being “Avail Year 2”, etc. It is acknowledged that the License Period for each Licensed Film may expire after the end of the Avail Term