Common use of Further Term Clause in Contracts

Further Term. In the event that prior to the expiration of the current Term the Licensor determines to grant a further licence and if the Licensee under this agreement has performed to the entire satisfaction of the Licensor during the current Term of this licence, the Licensor will give the Licensee the option to take the following further term of this licence on conditions satisfactory to both parties: Five years commencing on 1 September, 2026 and terminating on 31 August, 2031.

Further Term. In the event that prior to the expiration of the current Term the Licensor determines to grant a further licence and if the Licensee under this agreement has performed to the entire satisfaction of the Licensor during the current Term of this licence, the Licensor will give the Licensee the option to take the following further term of this licence on conditions satisfactory to both parties: Five years commencing on 1 SeptemberJuly, 2026 and terminating on 31 August30 June, 2031.

Further Term. In the event that prior to the expiration of the current Term of Five (5) years the Licensor determines to grant a further licence and if licence. If the Licensee under this agreement has performed to the entire satisfaction of the Licensor during the current Term of this licence, the Licensor will give the Licensee the option to take renew the following licence for a further term of this licence on conditions satisfactory to both parties: Five years commencing on 1 September, 2026 and terminating on 31 August, 2031.: