Common use of Renewal Term Clause in Contracts

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal Term.

Appears in 7 contracts

Samples: Management Agreement (Teekay Tankers Ltd.), Management Agreement (Teekay Tankers Ltd.), Form of Management Agreement (Baltic Trading LTD)

AutoNDA by SimpleDocs

Renewal Term. This Agreement willshall, without any further act or formality on the part of either Partyany Parties, on the expiration of the Initial Term Term, or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal Term7.3.

Appears in 4 contracts

Samples: Vessel Management Agreement (Seaspan CORP), Vessel Management Agreement (Seaspan CORP), Management Agreement (Seaspan CORP)

Renewal Term. This Agreement will, without any further act or formality on the part of either Partyany Parties, on the expiration of the Initial Term Term, or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f10.3(g), in the case of the Initial Term, or Section 10.3(g10.3(h), in the case of any Renewal Term.

Appears in 3 contracts

Samples: Management Agreement (Seaspan CORP), Management Agreement (Seaspan CORP), Management Agreement

Renewal Term. This At the end of the Initial Term, this Agreement willshall automatically renew for successive one year terms (the "Renewal Term"), without any further act or formality on unless written notice of a party's intent not to renew is provided to the part of either Party, on other party at least six months prior to the expiration end of the Initial Term or any the then existing Renewal Term, be automatically renewed for a further term subject to earlier termination of five (5) years (each a “Renewal Term”) unless notice of termination is given by this Agreement as provided herein. Upon any such termination, the Company to shall pay the Manager Executive as provided in accordance with Section 10.3(f)5.4 hereof, and, if applicable, as provided in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal Term5.5.

Appears in 3 contracts

Samples: Employment Agreement (Hte Inc), Employment Agreement (Hte Inc), Employment Agreement (Hte Inc)

Renewal Term. This Agreement willshall, without any further act or formality on the part of either Partyany Parties, on the expiration of the Initial Term Term, or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to or the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal Term7.3.

Appears in 2 contracts

Samples: Management Agreement (Seaspan CORP), Vessel Management Agreement (Seaspan CORP)

Renewal Term. This Agreement willshall, without any further act or formality on the part of either Partyany Parties, on the expiration of the Initial Term Term, or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f10.3(d) or by the Manager to the Company in accordance with Section 10.4(a), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal Term.

Appears in 2 contracts

Samples: Management Agreement (Energy Infrastructure Merger CORP), Management Agreement (Energy Infrastructure Merger CORP)

Renewal Term. This Agreement willshall, without any further act or formality on the part of either Partyany Parties, on the expiration of the Initial Term Term, or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f10.3(g), in the case of the Initial Term, or Section 10.3(g10.3(h), in the case of any Renewal Term.

Appears in 2 contracts

Samples: Management Agreement (Seaspan CORP), Management Agreement (Seaspan CORP)

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five two (52) years (each a "Renewal Term") unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal TermAdministrator.

Appears in 1 contract

Samples: Administrative Services Agreement (Scorpio Tankers Inc.)

AutoNDA by SimpleDocs

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five two (52) years (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal TermAdministrator.

Appears in 1 contract

Samples: Administrative Services Agreement (Scorpio Tankers Inc.)

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five (5) years (each 12 months subject to a “Renewal Term”) revision of the remuneration in Clause 6.1 and 6.2 unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal TermCompliance Practice.

Appears in 1 contract

Samples: External Compliance Practice Agreement

Renewal Term. This Agreement will, without any further act or formality on the part of either any Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five (5) years (each a “Renewal Term”) unless notice of termination is given by the Company any Party to the Manager other Parties in accordance with Section 10.3(fClause 29(c)(v), in the case of the Initial Term, or Section 10.3(gClause 29(c)(vi), in the case of any Renewal Term.

Appears in 1 contract

Samples: Gross Revenue Sharing Pool Agreement (Teekay Tankers Ltd.)

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five twelve (512) years months (each a “Renewal Term”) unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), 8.3 or by the Manager to the Company in the case of the Initial Term, or accordance with Section 10.3(g), in the case of any Renewal Term8.4.

Appears in 1 contract

Samples: Administrative Services Agreement (Diana Containerships Inc.)

Renewal Term. This Agreement will, without any further act or formality on the part of either Party, on the expiration of the Initial Term or any Renewal Term, be automatically renewed for a further term of five (5) years (each 12 months subject to a “Renewal Term”) revision of the remuneration in Clause 7.1 and 7.2 unless notice of termination is given by the Company to the Manager in accordance with Section 10.3(f), in the case of the Initial Term, or Section 10.3(g), in the case of any Renewal TermCompliance Practice.

Appears in 1 contract

Samples: External Compliance Practice Agreement

Time is Money Join Law Insider Premium to draft better contracts faster.