Common use of Term Termination and Fees Clause in Contracts

Term Termination and Fees. 5.1. Term; Renewal. THE INITIAL TERM OF THIS AGREEMENT SHALL COMMENCE UPON THE EFFECTIVE DATE AND SHALL CONTINUE IN FORCE FOR TWELVE (12) MONTHS. THIS AGREEMENT SHALL RENEW AUTOMATICALLY FOR SUCCESSIVE TWELVE‐MONTH PERIODS UNLESS ANY PARTY TERMINATES THIS AGREEMENT BY NOTICE TO THE OTHER, IN WRITING, AT LEAST 60 DAYS PRIOR TO THE EXPIRATION OF THE THEN CURRENT TERM.