Common use of Operation Period Clause in Contracts

Operation Period. The Operation Period shall commence on the Effective Date and shall continue until the date that is the last day of the fiscal month of April 2022, which is, as of the Effective Date, May 8, 2022 (the “Initial Term”). Unless Retailers, acting collectively, shall provide written notice of non-extension to Bank or Bank shall provide written notice of non-extension to Retailers, in each case, at least twelve (12) months prior to the expiration of the Initial Term (or, where applicable, the expiration of any extension term) the Operation Period shall thereafter be extended automatically for successive 1-year periods, each of which shall expire on the date that is the last day of the fiscal month of Bank that is closest to the end of any such twelve (12) month extension period.

Operation Period. The Operation Period shall commence on the Effective Date and shall continue until the date that is the last day of the fiscal month of April 2022, which is, as of the Effective Date, May 830, 2022 (the “Initial Term”). Unless Retailers, acting collectively, shall provide written notice of non-extension to Bank or Bank shall provide written notice of non-extension to Retailers, in each case, at least twelve (12) months prior to the expiration of the Initial Term (or, where applicable, the expiration of any extension term) the Operation Period shall thereafter be extended automatically for successive 1-year periods, each of which shall expire on the date that is the last day of the fiscal month of Bank that is closest to the end of any such twelve (12) month extension period.