Rollover Term Clause Samples
A Rollover Term clause defines the conditions under which an agreement automatically renews for an additional period at the end of its initial term. Typically, this clause specifies the length of each renewal period and any notice requirements for either party to prevent automatic renewal, such as providing written notice a certain number of days before the current term expires. Its core practical function is to ensure continuity of the contractual relationship unless one party actively opts out, thereby preventing accidental lapses in service or agreement coverage.
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Rollover Term. Unless:
(a) one of the parties provides 30 days’ written notice to the other party of an intention to allow the agreement to expire on the expiration of the Agreement Term or then-current Rollover Term (Expiry Notice); or
(b) the agreement has been otherwise terminated earlier in accordance with clause 15, this agreement will automatically renew for a further period equivalent to the Agreement Term (each a Rollover Term), on the terms and conditions of this agreement.
Rollover Term. If neither Party hereto has given the other written notice of termination on or before a date that is three (3) years before the expiration date of the Initial Term, this Agreement shall, unless terminated earlier in accordance with its terms, continue in effect for successive further terms of two (2) years each, beginning immediately after the expiration of the Initial Term (each a “Rollover Term”), but terminating in any event at 00:00 CPT on January 1, 2047. The Agreement, if so extended, may be terminated at the end of any such Rollover Term by either Party giving the other written notice of termination at least three (3) years prior thereto, in which event neither Party shall have any obligation or liability arising out of such termination (but, for the avoidance of doubt, without prejudice to Section 32.5 in respect of undischarged liabilities in respect of the period prior to such termination).