Annual Extension definition

Annual Extension means each period of 12 months commencing on the expiry of the Initial Period and each anniversary thereafter.
Sample 1
Annual Extension each period of 12 months commencing on the expiry of the Initial Licence Period and each anniversary thereafter.
Sample 1

Examples of Annual Extension in a sentence

  • Unless sooner terminated as provided in Section 4 hereof, the Employment Period may be terminated by either the Company or Executive, at the end of the Initial Period or an Annual Extension, if a written notice of nonrenewal is delivered to the other party at least six (6) months prior to the end of such Initial Period or Annual Extension, as the case may be.

  • The Receiving Party may reduce the 36 month period by electing to not exercise the next Annual Extension Term, in which case the TSA shall terminate with respect to the Services provided to the Receiving Party (subject to the applicable Wind Down Period and Transition Services Period) as of the last day of the then current Term.

  • If the Service Provider has delivered the Service Provider Termination Notice, then any exercise by the Receiving Party of a Annual Extension Term within which the 36th month falls must recognize in said exercise notice that the TSA will terminate with respect to the Services provided to the Receiving Party as of the last day of the 36th month (subject to the applicable Wind Down Period and Transition Services Period).

  • Notwithstanding the grant of the options for the Annual Extension Terms, the Service Provider shall have the right to deliver to the Receiving Party a written notice to terminate the TSA with respect to Services being provided to the Receiving Party (the “Service Provider Termination Notice”).

  • The first Redlight Schedule which SVU can present pursuant to this provision shall relate to the Third Annual Extension Term.

  • Receipt of such payment by SVU is an express condition precedent to the effectiveness of the Annual Extension Term then being exercised.

  • Exhibit D Form of Annual Extension of the Electronic Toll Collection Agreement This ANNUAL EXTENSION OF THE ELECTRONIC TOLL COLLECTION AGREEMENT (this “FY 20[• ] Extension Agreement”) is made and entered into this [ • ] day of [ • ] 20[ • ], by and between the VIRGINIA DEPARTMENT OF TRANSPORTATION (“VDOT”) and [•] (the “Participant”).

  • Price increases will only be considered concurrently with the Annual Extension of the Price Agreement and when the contractor provides proof from the manufacturer of the increase.

  • The term of this Employment Agreement (the "Employment Period") shall be the two (2) year period from the date hereof to and including October 31, 2003 (the "Initial Period"), and shall thereafter continue from year to year (each an "Annual Extension"), unless sooner terminated as provided in the second sentence of this Section 2 or in Section 4 hereof.

  • For this reason, the Annual Extension request must be used to make payment of taxes owed for the taxable year for which the extension is requested.

Related to Annual Extension

  • Second Extension Period means the period commencing on the day following the First Extended Scheduled Maturity Date and ending on the Second Extended Scheduled Maturity Date.

  • Extension Term means the time period defined in §2.C.

  • Resolution Extension Period As defined in Section 2.03(b).

  • Grace Period Extension Date means, if:

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Service Extension shall have the meaning set forth in Section 7.1(c).

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Line Extension means the provision of facilities (including, but not limited to, poles, fixtures, wires, and appurtenances) necessary for delivering electrical energy from the point of origin to one or more of the customer's points of delivery. Facilities provided by the Company to maintain, protect, upgrade, or improve its overall distribution system (even if necessary due to a customer's load addition) are not considered part of a line extension.

  • REO Extension As defined in Section 3.16(a).

  • Debt service extension base means an amount equal to that

  • Extension Period has the meaning specified in Section 3.12.

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Contract Term Extension means an extension of the term of this contract, at the request of Purchaser, under this Subsection. This Subsection does not obligate Contracting Officer to grant Contract Term Extension. When such extension is made, Forest Service shall make an appraisal using standard Forest Service methods and appraisal data in effect 45 days prior to the original Termination Date. Bid Premium Rates shall be added to such appraised rates to establish Flat Rates or Tentative Rates for the extension period. In event rates so established would develop Current Contract Value immediately prior to such an extension that is less than Current Contract Value at that time, Flat Rates and Tentative Rates in effect immediately prior to extension shall be retained for the extension period. In consideration for granting an extension, Purchaser shall pay the Government for Purchaser’s failure to cut and remove timber meeting Utilization Standards prior to Contract Term Extension, an amount that shall be the total of the costs to the Government resulting from the delay in harvest of Included Timber. Such costs will be determined by Forest Service and shall include, but not be limited to, the following:

  • Period of Extended Hire means any additional period that the Hirer wishes the Agency Worker to be supplied for beyond the duration of the original Assignment or series of assignments as an alternative to paying a Transfer Fee;

  • Notice of Extension has the meaning specified in Section 2.20.

  • Extension Date has the meaning specified in Section 2.19(b).

  • Extension Election has the meaning set forth in Section 2.16(c).

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • Extension Effective Date has the meaning assigned to such term in Section 2.22(a).

  • Additional Term shall have the meaning set forth in Section 8.2.

  • Request for Extension of Credit means (a) with respect to a Borrowing of Loans (including Swing Line Loans) or the conversion or continuation of Loans, a Loan Notice and (b) with respect to an L/C Credit Extension, a Letter of Credit Application.