SUCCESSIVE PERIODS Sample Clauses
The 'SUCCESSIVE PERIODS' clause defines how a contract or agreement automatically renews for additional terms after the initial period ends. Typically, this clause specifies the length of each renewal period and the conditions under which renewal occurs, such as requiring notice from one party to prevent automatic extension. Its core practical function is to provide continuity in contractual relationships while allowing parties to plan for ongoing obligations or to opt out with proper notice, thereby preventing unintended lapses or indefinite commitments.
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SUCCESSIVE PERIODS. The term of this Agreement automatically shall be extended for two (2) additional years at the end of the Initial Term, and then again after each successive two-year period thereafter (each such two-year period following the Initial Term is referred to as a "Successive Period"). However, either party may terminate this Agreement at the end of the Initial Term, or at the end of any Successive Period thereafter, by giving the other party written notice of intent not to renew, delivered at least ninety (90) calendar days prior to the end of such Initial Term or Successive Period. If such notice is properly delivered by either party, this Agreement, along with all corresponding rights, duties, and covenants, shall, except as provided in Paragraph 6.7 hereof, automatically expire at the end of the Initial Term or Successive Period then in progress.
SUCCESSIVE PERIODS of disability due to the same or related causes, and separated by a return to work of three (3) months or less, are considered to be part of the same period of disability.