First Additional Term definition

First Additional Term shall have the meaning set forth in Article 3.3.

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First Additional Term has the meaning ascribed to it in Section 21.2.

First Additional Term. Six percent (6%) Second additional term Six and one-half percent (6.5%) Third additional term: Seven percent (7%) Fourth additional term: Seven and one-half percent (7.5%) Fifth additional term: Eight percent (8%) Royalties would be increased by one-half percent (1/2%) should any release reach gold sales status and an additional increase of one-half percent (1/2%) for a total of one percent (1%) should any release reach platinum sales status.

Examples of First Additional Term in a sentence

• As used in this Lease, the “Term” means, collectively, the Initial Term, the First Additional Term (if applicable) and the Second Additional Term (if applicable).

• If this Agreement is renewed for the First Additional Term, then the First Additional Term shall commence on July 23, 2016, and the Agreement shall expire and terminate automatically without further notice on July 22, 2019.

• The Contractor shall provide the following items to CNH, along with the requests for a First Additional Term and Second Additional Term: (i) a proposal for modification of the applicable Development Plans that will include a proposal for the Risk Management Program that will include the reservoir maturity degree; (ii) a Work Program for implementation of the proposed project; (iii) a Budget for the proposed Work Program, and (iv) the production profile anticipated as a result of the proposed Work Program.

• After the Initial Term, the Agreement shall be extended for two additional one-year terms (the "First Additional Term" and the "Second Additional Term," respectively), unless the Executive provides written notice of election not to renew at least 45 days before the commencement of the First Additional Term and the Second Additional Term, respectively.

• For U.S. federal income tax purposes, the Borrower, any First Additional Term B Lender and the Administrative Agent agree to treat the First Additional Term Loans as a “qualified reopening” (within the meaning of Treasury Regulations section 1.1275-2(k)) of, and fungible with, the Initial Term Loans.

• The Administrative Agent shall have received for the account of the First Additional Term Lenders, upfront fees in an amount equal to 0.25% of the First Additional Term Commitments (which, at the election of such First Additional Term Lenders, may take the form of original issue discount).

• Notwithstanding the foregoing, the amendment effected hereby shall not become effective and the obligations of the First Additional Term B Lender hereunder to make First Additional Term Loans will automatically terminate if each of the conditions set forth or referred to in Section 1.04 hereof has not been satisfied or waived at or prior to 5:00 p.m., New York City time, on April 25, 2017.

• The First Additional Term Annual Base Rent shall be payable in equal monthly installments in advance on or before the first day of each calendar month during the First Additional Term.

• The Contractor shall provide the following items to CNH, along with the requests for a First Additional Term and Second Additional Term: (i) a proposal for modification of the applicable Development Plans that will include a proposal for the Risk Management Program that will include the reservoirs maturity degree; (ii) a Work Program for implementation of the proposed project; (iii) a Budget for the proposed Work Program, and (iv) the production profile anticipated as a result of the proposed Work Program.

• The proceeds of the First Additional Term Loans will be used for general corporate purposes.

More Definitions of First Additional Term

First Additional Term is defined in Section 8.1.2 of this Agreement.

First Additional Term. As defined in Section 2.1(a) hereof.

First Additional Term shall have the meaning set forth in Section 14.1.