Software License Term; Renewal Sample Clauses
The 'Software License Term; Renewal' clause defines the duration for which a software license is granted and outlines the conditions under which it may be renewed. Typically, this clause specifies the initial license period—such as one year or perpetual—and details the process for extending the license, which may include automatic renewals, notice requirements, or renegotiation of terms. Its core function is to provide both parties with clarity regarding how long the license remains valid and what steps are necessary to continue using the software beyond the original term, thereby preventing misunderstandings or unintentional lapses in licensing.
Software License Term; Renewal. Based on the type of license You have purchased subject to this Agreement, You are granted a non-exclusive, personal, limited license to use this Software subject to the terms, payment of fees, conditions, restrictions and limitations contained herein:
i. For a period of months, according to the length of the term, if You have a Term License.
ii. For a period of one (1) year from the first day of the month following Your purchase, if You have a One-Year License.
a. A One-Year License receives, at no additional charge, new releases of the Software as they become available during the term(s) of the license so long as You are in full compliance with this Agreement.
iii. For a period of three (3) years from the first day of the month following Your purchase, if You have a Three-Year License.
a. A Three-Year License fee is fixed during the three (3) year term, and is paid in three (3) equal payments:
1. At the time of Your initial purchase;
2. One (1) year after the date of Your initial purchase; and
3. Two (2) years after the date of Your initial purchase.
b. You will only receive continued access to the Software upon payment of the license fee in accordance with section 1.1.iii.a above; and
c. A Three-Year License receives, at no additional charge, new releases of the Software as they become available during the term(s) of the license so long as You are in full compliance with this Agreement.
iv. You will only receive continued access to the Software if prior to expiration of a license term:
a. We receive Your payment of the then-current license fee for renewal in accordance with the renewal invoice We send You; or
b. We receive a purchase order or other written or electronic confirmation, acceptable to Us, of Your intent to renew and to pay the then-current license fee in accordance with the renewal invoice We send You.
v. A late renewal of a license after expiration of a license term will be assessed a reactivation fee of 2% of the then-current license fee for the renewed license term or $750.00 USD, whichever is higher, and added into the renewal invoice We send You.
vi. At the time of renewal, a license has the option to renew for a One-Year or Three-Year license term by paying the applicable then-current license fee.