Common use of Execute Clause in Contracts

Execute. amend, modify, provide a written waiver of rights under or terminate any contract, lease, equipment lease or other agreement (in each case, or a series of contracts, leases, equipment leases or other agreements relating to the same or similar property, equipment, goods or services, as applicable, with the same or a related party) that (a)(i) is for a term of greater than three (3) years and (ii) requires payment in excess of $500,000 or (b) requires aggregate annual payments in excess of $500,000, other than contracts, leases or other agreements which are specifically identified in the Annual Budget; provided, that the dollar amount specified in this Section 2.2.2 shall be increased on January 1 of every third Operating Year by the percentage increase in the Index since January 1 of the first Operating Year or the date of the prior increase, as applicable;