Common use of Optional Renewal Clause in Contracts

Optional Renewal. Customer shall have the option to renew the Term for additional one-year terms, for the number of years indicated in Section 1 above, for the fees indicated with respect to each such year. Such option is subject to the condition that Licensor receives renewal term no later than 90 days prior to the end of the current year of the Term.

Optional Renewal. Customer shall have the option to renew the Term for additional one-year terms, for the number of years indicated in Section 1 above, for the fees indicated with respect to each such year. Such option is subject to the condition that Licensor receives receive written notification of Customer’s exercise of its option for each renewal term no later than 90 days prior to the end of the current year of the Term.

Optional Renewal. Customer shall have the option to renew the Term for additional one-year terms, for the number of years indicated in Section 1 above, for the fees indicated with respect to each such year. Such option is subject to the condition that Licensor receives written notification of Customer’s exercise of its option for each renewal term no later than 90 days prior to the end of the current year of the Term.