The Initial Term. Commence on the Effective Date and shall continue in full force and effect until the second (2nd) anniversary of the Effective Date (the “Initial Term”); and
The Initial Term. The initial term of this Agreement will be for three (3) years with the effective date being the first day of the month of which production of ethanol begins at the Millennium Production Facilities. For example, if production begins on October 15, 2007, then October 1, 2007 will be the effective date of this Agreement. The three-year period referred to herein will hereafter be referred to as the “Initial Term.”
The Initial Term. Sales Year Guaranteed Minimum Royalty Sales Year 1 $* Payable as follows: $* as an advance (the "GMR Advance") payable within ten (10) business days following the delivery by Licensor and Licensee of the signature page (either in original or by facsimile or image file transmission) of this Agreement, which has been signed by Artist, Licensor and Licensee. In the event Licensee fails to pay the GMR Advance in a timely fashion, Licensor may terminate this Agreement by written notice to Licensee without prejudice to any other rights and remedies that Licensor has under this Agreement. Sales Year 2 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 3 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * ——————————————* Confidential terms omitted and provided separately to the Securities and Exchange Commission. Sales Year Guaranteed Minimum Royalty Sales Year 4 $* Payable as follows: $* due by * $* due by * $* due by * $* due by * Sales Year 5 $* Payable as follows: $* due by * $* due by * $* due by * $* due by *
The Initial Term. The term of this Agreement will be for four years from its Effective Date, unless this Agreement is terminated earlier in the manner described below in Section 2. That four-year period will hereafter be referred to as the “Initial Term.”* Portions of this exhibit have been omitted pursuant to a request for confidential treatment and have been filed with the United States Securities and Exchange Commission.
The Initial Term of this Agreement shall commence at 9:00 a.m. on October 5, 2019 and shall expire at 4 p.m. on October 5, 2019. Upon expiration of the Initial Term, Licensee may request, in writing, and Department may, in its sole discretion, for cause or convenience, revoke or grant a Renewal of the Agreement. The date of the Forestry Festival for the Renewal Term(s), if any, shall be determined at the time of such Renewal (“Renewal Term”). Department may grant no more than two (2) subsequent Renewal Terms following the Initial Term of this Agreement. Department reserves the right to revoke this Agreement for any material breach in accordance with the terms and conditions set forth in Paragraph 7.