Examples of Renewal Term in a sentence
This renewal for additional five-year Renewal Term shall be revolving, which means that if at the end of such Renewal Term the conditions for another Renewal Term are met, this Agreement shall again automatically renew.
In the event either Party provides timely Notice of their intent not to renew this Agreement, then, unless earlier terminated in accordance with its terms, this Agreement terminates on the expiration of the Initial Term or then-current Renewal Term, as applicable.
Upon expiration of the Initial Term, the term of this Agreement will automatically renew for additional successive three (3) year terms unless either Party provides written Notice of non-renewal at least fifteen (15) days prior to the end of the then-current term (each, a “Renewal Term” and together with the Initial Term, the “Term"), unless any Renewal Term is earlier terminated pursuant to the terms of this Agreement or applicable Law.
If the Initial Term or any Renewal Term is renewed for any Renewal Term(s) pursuant to this Section 6.2, the terms and conditions of this Agreement during each such Renewal Term will be the same as the terms in effect immediately prior to such renewal.