Effect on Term Clause Samples

Effect on Term. A Party experiencing an event of Force Majeure and not otherwise in default under this Agreement may elect to extend this Agreement equivalent to the duration of such event of Force Majeure; provided, however that under no circumstance shall such extension exceed one hundred eighty (180) Days from the conclusion of the original Term. Equal Employment Opportunity. (Applicable to all contracts of $10,000 or more in the whole or aggregate (41 CFR 60-1.4 and 41 CFR 60-741.5)). Supplier is aware of and is fully informed of Supplier’s responsibilities under Executive Order 11246 (reference to which include amendments and orders superseding in whole or in part) and shall be bound by and agrees to the provisions as contained in Section 202 of said Executive Order and the Equal Opportunity Clause as set forth in 41 CFR 60-1.4 and 41 CFR 60-741.5(a), which clauses are hereby incorporated by reference.

Effect on Term. In the event an Article VI Convertible Note is outstanding and either (a) such Article VI Convertible Note is not paid in full in cash or automatically converted within 20 days after it becomes due upon either scheduled or accelerated maturity or (b) Seelos or its successor liquidates, dissolves or winds up, then (in addition to and cumulatively with any and all other rights and remedies of Licensor), upon written notice from Licensor to Seelos, this Agreement shall automatically and immediately terminate.

Effect on Term. The Term of this Agreement shall be tolled until final court action is taken in any litigation.‌

Effect on Term. If the Expansion Option Notice is given on or before -------------- the first anniversary of the Commencement Date, there shall be no adjustment to the Initial Term. If the Expansion Option Notice is given after the first anniversary of the Commencement Date but on or before the second anniversary of the Commencement Date, the Initial Term shall be extended by one year, unless Tenant elects not to give a Notice to Proceed as provided in Section 26.C. If the Expansion Option Notice is given after the second anniversary of the Commencement Date but on or before the third anniversary of the Commencement Date, the Initial Term shall be extended by two years, unless Tenant elects not to give a Notice to Proceed as provided in Section 26.C. The Base Rent applicable during the Initial Term shall continue to be applicable during any extension of the Initial Term resulting from the operation of this Section 26.B.