Article 3 - Term Sample Clauses

Article 3 - Term. 3.1 Subject to earlier expiration because of the commencement of the Permit/Construction Term, the first three (3) years following the Effective Date of this Agreement shall be the “Initial Term”. This Agreement shall terminate at the end of the Initial Term if Operator has failed to apply for a permit to construct a Class VI injection well on the Property. However, upon a showing of good cause by Operator, this Agreement may be extended by the State in its discretion for up to an additional two (2) years at the end of the Initial Term (“Initial Discretionary Term”) if Operator has failed to apply for a permit to construct a Class VI injection well on the Property. In order for Operator to exercise this option, Operator shall notify the State at least ninety (90) days prior to the expiration of the Initial Term that it wishes to exercise this option. If extended by an Initial Discretionary Term, then this Agreement shall terminate at the end of the Initial Discretionary Term if Operator has failed to apply for a permit to construct a Class VI injection well on the Property.
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Article 3 - Term. 3.1 With respect to the termination and maintenance provisions set forth in the remainder of Article 3, each Specific Area of Interest shall be treated as completely separate areas. Pursuant to the provisions below, an action taken with respect to one Specific Area of Interest shall not apply to or affect another Specific Area of Interest. Thus, pursuant to the remaining provisions of Article 3, this Agreement may be maintained with respect to one Specific Area of Interest, and this Agreement may terminate with respect to another Specific Area of Interest.
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Article 3 - Term. 3.1 The term of this Agreement shall commence on the Effective Date stated in Article 2.3 and shall continue for a period of twenty-five (25) years (“Initial Term”), with an option to extend for an additional twenty-five (25) years in accordance with Article 3.2. Unless extended in accordance with Article 3.2, this Agreement shall expire at the end of the Initial Term without the necessity of notice or action by the State.
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Article 3 - Term. 3.1 This AGREEMENT shall become effective as of the EFFECTIVE DATE hereof and shall continue in effect until the last to expire of the LICENSED PATENTS. *** Confidential Treatment Requested Text Omitted and Filed Separately
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Article 3 - Term. Article 3 of the Lease is hereby revised so that the Lease shall continue for an additional one (1) year term, commencing on July 1, 2016. The Lease shall automatically renew for successive one (1) year terms, unless either party terminates the Lease in accordance with Section 17 of the Lease. The Parties hereby agree that in no event shall the Lease continue more than fifty-five (55) years. In other words, in no event shall the Lease continue beyond June 30, 2068.
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Related to Article 3 - Term

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Term of Agreement; Termination The term of this Agreement shall commence on the date hereof and such term and this Agreement shall terminate upon the earlier to occur of (i) the Effective Time, and (ii) the date on which the Merger Agreement is terminated in accordance with its terms. Upon such termination, no party shall have any further obligations or liabilities hereunder; PROVIDED, HOWEVER, such termination shall not relieve any party from liability for any breach of this Agreement prior to such termination.

  • Term and Annual Renewal The term of this Agreement shall be from the date of its approval by the vote of a majority of the Board of each Issuer, and it shall continue in effect from year to year thereafter only so long as such continuance is specifically approved at least annually by the vote of a majority of its Board, and the vote of a majority of those members of the Board who are neither parties to the Agreement nor interested persons of any such party, cast at a meeting called for the purpose of voting on such approval. “Approved at least annually” shall mean approval occurring, with respect to the first continuance of the Agreement, during the 90 days prior to and including the date of its termination in the absence of such approval, and with respect to any subsequent continuance, during the 90 days prior to and including the first anniversary of the date upon which the most recent previous annual continuance of the Agreement became effective. The effective date of the Agreement with respect to each Fund is identified in the Schedule A of this Agreement.

  • Term of Agreement This Agreement shall continue in full force and effect until the tenth (10th) anniversary of Bank Closing; provided, that the provisions of Section 6.3 and 6.4 shall survive the expiration of the term of this Agreement; and provided further, that the receivership of the Failed Bank may be terminated prior to the expiration of the term of this Agreement, and in such event, the guaranty of the Corporation, as provided in and in accordance with the provisions of Section 12.7 shall be in effect for the remainder of the term of this Agreement. Expiration of the term of this Agreement shall not affect any claim or liability of any party with respect to any (i) amount which is owing at the time of such expiration, regardless of when such amount becomes payable, and (ii) breach of this Agreement occurring prior to such expiration, regardless of when such breach is discovered.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • PARAGRAPH TWO The amount determined in accordance with the provisions of item I, clause “b” or item II shall be payable quarterly, on the fifteenth (15th) day of February, May, August, and November of each year, during the period between November 15, 2014 and February 15, 2017, and monthly, beginning on and including March 15, 2017, together with the principal amount repayment installments, and at the maturity or settlement of this Agreement, subject to the provisions of Section Eighteen. FIVE

  • Commencement of Term The Term commences upon the Commercial Operation Date.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Original Term The weighted average original term for the Receivables is at least 65 months.

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