Common use of Second Extension Period Clause in Contracts

Second Extension Period. In the event the Average Sold Excess Capacity is at least twenty percent (20%) during the Initial Period and the First Extension Period, the term of the Agreement shall be automatically extended for a second extension period (the "SECOND EXTENSION PERIOD") commencing on the day after the expiration of the First Extension Period and expiring on the tenth (10th) anniversary thereafter; provided PathNet shall notify Incumbent of its intent to exercise its option to extend the term of the Agreement at least one hundred and eighty (180) days prior to the end of the preceding term.