Renewal Term definition
Examples of Renewal Term in a sentence
This MSLA will automatically renew for successive one-year periods (each a “Renewal Term”) after the Initial Term and any subsequent Renewal Term, unless a Party provides the other Party written notice of its intent not to renew at least one hundred twenty (120) days prior to the expiration of the Initial Term or the then-current Renewal Term (the Initial Term together with all Renewal Terms, the “MSLA Term”).
At the end of the Initial Employment Term and on each succeeding February 8th, the Term will be automatically extended by one (1) additional year (each, a “Renewal Term”), unless, not less than ninety (90) days prior to the end of the Initial Employment Term or any Renewal Term, either the Executive or the Company has given the other written notice of nonrenewal (a “Notice of Non-Renewal”).
Except as provided in Section 6(g)(ii), if the Company provides the Executive with a Notice of Non- Renewal pursuant to Section 3, the termination by the Company of the Executive’s employment upon the last day of the Initial Employment Term or then-current Renewal Term shall not constitute a termination by the Company without Cause for purposes of this Agreement.
Any termination of the Executive’s employment hereunder (other than as a result of the death of the Executive or as a result of the expiration of the Initial Term or any Renewal Term if either party has given a Non-Renewal Notice to the other), whether by the Company or by the Executive, shall be communicated by written Notice of Termination to the other party hereto.
After the expiration of the Initial Term, this Agreement shall automatically renew for successive 1-year terms (each, a “Renewal Term”) unless a written notice of non-renewal is delivered by the non-renewing party no later than ninety (90) days prior to the expiration of the Initial Term or any Renewal Term, as the case may be.