First Renewal definition
Examples of First Renewal in a sentence
The Subscription Term consists of an Initial Subscription Term, a First Renewal Term and subsequent Renewal Terms as defined in the Order Form.
Prudential, in its sole discretion, has the right to renew this Engagement Schedule for one (1) additional two (2)-year term by providing Vendor with written notice at least one hundred eighty (180) days prior to the expiration of the Initial Term ("First Renewal Term").
This First Renewal Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one document.
Except as expressly provided in this First Renewal Agreement, all terms and conditions of the Original Agreement shall remain in full force and effect during the First Renewal Term.
Any and all capitalized terms contained in this First Renewal Agreement, and not defined herein, shall have the definition as set forth in the Original Agreement.
Compensation shall be based on actual Services performed during the First Renewal Term and the Board shall not be obligated to pay for any Services or other deliverables not in compliance with the Agreement.
Vendor will submit a new pricing proposal to Prudential for the First Renewal Term, upon at least thirteen (13) months notice to Prudential prior to the end of the Initial Term.
If Prudential desires to enter into any additional two (2)-year renewal terms, it must provide Vendor with at least one hundred eighty (180) days written notice prior to the end of the First Renewal Term and any subsequent renewal term, and Vendor and Prudential shall mutually agree to renew this Engagement Schedule.
The maximum compensation payable to Vendor during the First Renewal Term shall not exceed the amount stated in the Board Report, which is referenced on the signature page of this First Renewal Agreement, as may be amended (“Maximum Compensation Amount”).
Pursuant to Section 1 of the Contract, this First Renewal Term and any subsequent renewals, shall be subject to all specifications and terms and conditions of the Contract, the OAG Certification Agreement, and the Incorporated Documents as defined in Section 2 therein.