Initial Term definition
Examples of Initial Term in a sentence
Executive’s continued employment after the expiration of the Initial Term shall be in accordance with and governed by this Agreement, unless modified by the parties to this Agreement in writing.
For the purposes of this Agreement, the Initial Term and any extended term shall be referred to as the “Term”.
After the Initial Term, your employment will be on an at-will basis, for no set period of time.
This Agreement shall be automatically renewed for additional periods of one (1) year each (the “Renewal Term”) unless JV serves a notice to the Management Provider at least sixty (60) days before the end of the Initial Term or the end of the Renewal Term, of its intention to terminate this Agreement.
After the Initial Term (as defined below), NCIT may increase Fees by providing written notice to Licensee at least 30 days prior to the effective date of the Fee increase, and the Fees will be deemed amended accordingly without further notice or consent; provided that NCIT will not increase Fees during the Initial Term.