Common use of Supplement Term Clause in Contracts

Supplement Term. Unless otherwise specified in a particular Supplement for a specified reason, the initial term for each particular Supplement shall begin on the first day of the month following the day the Supplement is approved by both Licensor and Licensee (“Supplement Effective Date”) and shall end upon the expiration of the Term, unless such individual Supplement is earlier terminated or this Agreement is extended or terminated, as provided for herein (the “Supplement Term”). All of the provisions of this Agreement shall be in effect during the Supplement Term. The expiration or termination of the Agreement shall immediately terminate all Supplements. Any holding over after the expiration of the Supplement Term shall constitute a default by Licensee, notwithstanding that Licensor may elect to accept one or more payments of fees from Licensee after such default occurs.

Supplement Term. Unless otherwise specified in a particular Supplement for a specified reasonSupplement, the initial term for each particular Supplement shall begin on the first day of the month following the day the Supplement is approved by both Licensor and Licensee its effective date (“Supplement Effective Date”) and shall end upon the expiration of the Term, unless such individual Supplement is earlier terminated or this Agreement is extended or terminated, as provided for herein (the “Supplement Term”). All of the provisions of this Agreement shall be in effect during the Supplement Term. The expiration or termination of the Agreement shall immediately terminate all Supplements. Any holding over after the expiration of the Supplement Term shall constitute a default by Licensee, notwithstanding that Licensor may elect to accept one or more payments of fees from Licensee after such default occurs.