Length of initial term Clause Samples

The "Length of initial term" clause defines the specific duration for which a contract or agreement will remain in effect before any renewal or extension options are considered. Typically, this clause will state a fixed period, such as one year or three years, during which both parties are obligated to uphold the terms of the agreement. By clearly establishing the initial commitment period, this clause provides certainty for both parties regarding their obligations and helps prevent misunderstandings about when the contract may be reviewed, renewed, or terminated.
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Length of initial term a. Subject to paragraph 2.b, the initial term of the HAP contract for any contract units is: b. The initial term of the HAP contract for any unit may not be less than one year, nor more than fifteen years.
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Length of initial term. Ten (10) years and two (2) months.
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Length of initial term. The Initial Term of the Lease shall be for a period of Eighty Seven (87) consecutive full Lease Months plus any partial month which occurs as a result of the Commencement Date falling on a date that is any date other than the first day of the month.
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Length of initial term. Five (5) years and one (1) month.
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Length of initial term. 15 years
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Length of initial term. A period of approximately five (5) years commencing on the Commencement Date and ending on the Expiration Date (the “Initial Term”)
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Related to Length of initial term

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • 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.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

  • Length of Term The term of this Agreement shall extend from the Effective Date through May 8, 2014 (“Term”) unless terminated earlier in accordance with the terms herein. On May 8, 2013 and on each subsequent May 8th through and including May 8, 2017, the end date of the Term shall automatically be extended by one (1) additional year, unless either party has previously provided written notice to the other party to not so extend the Term. Once such notice has been provided, then the Term shall no longer be extended on any following May 8th. Notwithstanding anything to the contrary, this Agreement shall in all cases expire no later than (and cannot be extended beyond) May 8, 2019. Upon expiration of the Term due to either party’s providing written notice to not extend the Term, then your employment with the Company shall terminate (if not terminated earlier in accordance with the terms herein) as of the end of the Term. The terms of Sections 5 and 7 through 15 shall survive any termination or expiration of this Agreement or of your employment.

  • Renewal Periods Renewal of registered names may be made in one (1) year increments for up to a maximum of ten (10) years. For the avoidance of doubt, renewal of registered names may not extend their registration period beyond ten (10) years from the time of the renewal.