Common use of By M&P Clause in Contracts

By M&P. Provided MP has fulfilled the requirements set forth on Schedule Y and MP continues to be in compliance with such requirements upon the expiration of the Initial Term, MP shall have the one-time right to renew this Agreement for an additional period of two (2) years and four (4) months (i.e., expiring May 31, 2002) (the "Renewal Term" and together with the Initial Term, the "Term") by giving AOL written notice of such election by not later than January 17, 2000. AOL shall have the right to conduct a quality audit prior to the expiration of the Initial Term to ascertain whether MP has fulfilled and continues to be in compliance with the requirements set forth on Schedule Y."

By M&P. Provided MP has fulfilled the requirements set forth on Schedule Y and MP continues to be in compliance with such requirements upon the expiration of the Initial Term, MP shall have the one-time right to renew this Agreement for an additional period of two (2) years and four (4) months (i.e., expiring May 31, 2002) (the "Renewal Term" and together with the Initial Term, the "Term") by giving AOL written notice of such election by not later than January 17, 2000one hundred twenty (120) days prior to the expiration of the Initial Term. AOL shall have the right to conduct a quality audit prior to the expiration of the Initial Term to ascertain whether MP has fulfilled and continues to be in compliance with the requirements set forth on Schedule Y."