Common use of Licence Term Clause in Contracts

Licence Term. The term of the Licence granted by this Agreement (the “Licence Term”) shall commence on the Contract Date (or such other date set forth in Exhibit A-5) and shall continue for the period set forth in Exhibit A-5 plus any partial month between the Contract Date and the Effective Date (the “Initial Term”; the date upon which the Licence Term is scheduled to expire being referred to as the “Expiration Date”); provided, however, that this Agreement shall automatically renew on the Expiration Date and upon each succeeding anniversary of the Expiration Date for subsequent periods (each a “Renewal Term”) of twelve (12) months each; provided, however, that due to prohibitions in the Call-Off Contract, the License Term shall not be extended for a third (3rd) Renewal Term and this Agreement shall terminate upon the expiration of the second (2nd) Renewal Term. Upon each such renewal, the Licence Term shall be extended and deemed to include such additional Renewal Term and the Expiration Date shall thereafter be the next succeeding anniversary of the Expiration Date. Either party may terminate this Agreement not less than thirty (30) days in advance of the Expiration Date upon written notice to the other party, such termination to be effective as of the Expiration Date. If the Contract Date is not identified in the introductory paragraph of this Agreement, then the Contract Date shall be deemed to be the date of the last signature affixed to this Agreement.