Extension Year definition
Examples of Extension Year in a sentence
Following the initial expiration date of the Term, this Agreement shall be deemed extended from year to year ("Extension Year") unless, no later than three (3) months prior to the end of the Term (or any Extension Year), the Company or the Employee shall have notified the other party in writing that the Company or the Employee does not elect to extend the Term (or any Extension Year) past its then expiration date, or if the Employee's employment is terminated for whatever reason.
Following the initial expiration date of the Term, this Agreement shall be deemed extended from year to year ("Extension Year") unless, no later than three (3) months prior to the end of the Term (or any Extension Year), the Company or the Executive shall have notified the other party in writing that the Company or the Executive does not elect to extend the Term (or any Extension Year) past its then expiration date, or if the Executive's employment is terminated for whatever reason.
Any meeting of the Member may be adjourned to a designated time and place by the vote of a majority of the Membership Interests present and entitled to vote thereat even though less than a quorum is so present without any further notice except by announcement at the meeting.
On and after the Initial Term, this Agreement shall be deemed extended from year to year (“Extension Year”) unless, no later than three (3) months prior to the end of the Initial Term or applicable Extension Year (as the case may be), Zomax or the Executive shall have notified the other party in writing that it or he does not elect to extend the Initial Term or applicable Extension Year (as the case may be) past its then expiration date.
If an open ended term for a bond or letter of credit cannot be obtained, then the Contractor must renew the bond or letter of credit for a given Extension Year annually until such time as the "final" audit result notice has been received.
The Initial Term shall automatically be extended thereafter for subsequent one year periods (each an “Extension Year” and, together with the Initial Term, the “Term”), subject to earlier termination pursuant to Section 5, unless at least ninety (90) days prior to the expiration of the then-current Extension Year, as the case may be, the Company or Executive have notified the other party in writing that Employee’s employment hereunder shall terminate upon the expiration of the then-current Term.
Each bond or letter of credit must insure expressly against the Contractor's inability to justify claims in each annual Cost Justification Financial Statement to the extent of all payment increases the BOE will make to the Contractor during each prospective Extension Year.
As of the 2000-01 Extension Year, the minimum computer system for the Contractor to maintain must include the following elements: (a) Pentium II Computer; (b) 4 megabytes RAM; (c) 6 gigabyte hard disk; (d) Windows 95 or Windows 98; (e) Word for Windows 95 or 98; and, (f) 56k Modem.
For the Sixteenth Extension Year only (Eighth Extension Year for Contract Serial No. 9888), also add the unabsorbed increase of the Fourteenth to Fifteenth Extension Years (Sixth to Seventh Extension Years for Contract Serial No. 9888), if any, to the percent increase in Step 3.
In addition, the Contractor must submit to the BOE an “Annual Vehicle Cost Increase Summary Statement,” as hereinafter defined, by August 15th following each Extension Year.