Common use of License Extension Clause in Contracts

License Extension. The term of the Mir II License shall be extended to September 28, 2008 (the "End Date"). The End Date shall be automatically extended to September 28, 2009 at no additional cost to ▇▇▇▇▇▇, if there are no new disputes with respect to the Mir II License between Actoz and ▇▇▇▇▇▇ from the date of this Agreement until the End Date. The license fee for the extension of the term for the Mir II License from September 29, 2005 to the End Date shall be US$3 million. ▇▇▇▇▇▇ shall wire the license extension fee to Actoz within thirty (30) Business Days after receipt of the Actoz invoice therefore, provided that such invoice may not be issued prior to the date of September 28, 2005. "Business Day" shall mean any day of the week other than a Saturday or Sunday upon which banks in both the PRC and Korea are open for business.