Term Conditions Precedent. A. This Contract is effective as of July 1, 2021, and shall continue through June 30, 2026. Although this Contract renews the operation of the School for an additional period of five (5) years, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application.
Term Conditions Precedent. Subject to Section 2.6 hereof, the Term shall not commence until the occurrence of all of the following:
Term Conditions Precedent. (a) This Agreement shall be in effect through November 30, 2009 (the "Term"). Thereafter, this Agreement shall renew for additional five-year periods unless either party shall provide written notice of termination to the other party no later than 120 days prior to the then current expiration date. As one of the Conditions Precedent, JH and AAI must agree upon a formula to appropriately compensate JH for the value created by it pursuant to this Agreement in the event the Term is not extended beyond such initial five (5) year period. This may include, for example, an ending cash payment to JH or issuance of additional stock.
Term Conditions Precedent. The term of the Lease commences on the date of the Lease and expires thirty five (35) years (including extensions) thereafter. However, the effectiveness of the Lease is conditioned upon modification of State law to allow, and the Lessee getting valid permits for, the Sign described in the Lease.
Term Conditions Precedent. A. This Contract is effective as of March 10, 2020 (the “Effective Date”) and shall continue through June 30, 2026; however, funding shall not commence until July 1, 2021, and the School shall have a planning period, sometimes referred to as a “Zero Year”, from the Effective Date through June 30, 2021. Although this Contract is for operation of the School for a period of (5) years from the date of commencement of funding, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current fiscal year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract.
Term Conditions Precedent
