TERM 3.1 Initial Term Sample Clauses


TERM 3.1 Initial Term. The term of this Processing Services Schedule shall begin on the Processing Services Effective Date and shall expire at 11:59 p.m. (Eastern Time) on the last day of Processing Year 3, unless terminated earlier in accordance with this Processing Services Schedule or the Agreement (the Processing Initial Term). 3.2 Extension The Processing Initial Term shall automatically renew for an unlimited number of one (1) year renewal terms (each a Processing Renewal Term) unless one Party provides the other with written notice of its intent to terminate not less than [*] ([*]) days prior to the end of the Processing Initial Term or the then-current Processing Renewal Term. 3.3 Termination for Convenience Subscriber may terminate this Processing Services Schedule and the Agreement at any time during [*] without cause or for convenience, by giving at least [*] ([*]) days prior written notice to TSYS and paying to TSYS the termination for convenience fee (Termination for Convenience Fee) set forth and described in Exhibit 5 to this Processing Services Schedule. In the event Subscriber terminates this Processing Services Schedule and the Agreement for convenience, Subscriber shall be obligated to pay the Termination for Convenience Fee due hereunder, but relieved of any obligation to [*] after the date of termination. Any notice of termination by Subscriber pursuant to this Section 3.3 shall include a proposed date for the initiation of Wind-down or Deconversion pursuant to Section 4.2 or 4.3 of the Agreement.


TERM 3.1 Initial Term. The term of this Processing Services Schedule shall begin on the Processing Services Effective Date and shall expire at 11:59 p.m. (Eastern Time) on the last day of Processing Year 3, unless terminated earlier in accordance with this Processing Services Schedule or the Agreement (the Processing Initial Term). *** Confidential material redacted and filed separately with the Commission