Initial Term definition: Copy, customize, and use instantly
Introduction
The term "Initial Term" refers to the specific period during which a contract, agreement, or lease remains in effect before it is subject to renewal, extension, or termination. It is essential in defining the duration of obligations, rights, and responsibilities for all parties involved in an agreement.
Below are various examples of how "Initial Term" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Initial Term" as the primary contractual duration
This definition ties "Initial Term" to the original agreement period.
"Initial Term" means the period commencing on the effective date of the agreement and continuing for [specific number of months or years], unless terminated earlier in accordance with the agreement’s terms.
Definition of "Initial Term" as the initial period of service agreements
This definition connects "Initial Term" to service contracts.
"Initial Term" refers to the initial duration of the service agreement, during which the service provider is obligated to deliver services and the client is bound to the terms of payment and usage.
Definition of "Initial Term" as the base period for lease agreements
This definition links "Initial Term" to leasing contexts.
"Initial Term" means the period during which the lessee is entitled to occupy and use the leased premises or equipment, commencing on the lease start date and lasting for the agreed duration.
Definition of "Initial Term" as the foundational subscription period
This definition applies "Initial Term" to subscription models.
"Initial Term" refers to the initial period for which a subscription is valid, beginning on the subscription start date and continuing until the specified end date, subject to renewal options.
Definition of "Initial Term" as the commitment period for financing agreements
This definition ties "Initial Term" to financial arrangements.
"Initial Term" means the period during which the borrower’s financial obligations, including repayment terms and interest, are defined and agreed upon before renewal or renegotiation.
Definition of "Initial Term" as the start period for partnership agreements
This definition connects "Initial Term" to collaborations.
"Initial Term" refers to the initial duration of the partnership or joint venture agreement, defining the timeframe for the parties’ cooperation and shared responsibilities.
Definition of "Initial Term" as the trial period for software licenses
This definition links "Initial Term" to licensing agreements.
"Initial Term" means the period during which the licensee has the right to use the software under the initial terms and conditions, beginning on the license activation date.
Definition of "Initial Term" as the introductory period for employment contracts
This definition applies "Initial Term" to employment agreements.
"Initial Term" refers to the initial period of employment, often designated as a probationary or trial period, during which the employee and employer assess the suitability of the arrangement.
Definition of "Initial Term" as the guaranteed timeframe for utility agreements
This definition ties "Initial Term" to service delivery.
"Initial Term" means the period during which the utility provider agrees to deliver services to the customer under the agreed pricing and terms, starting from the service commencement date.
Definition of "Initial Term" as the baseline term for renewable agreements
This definition connects "Initial Term" to agreements with renewal options.
"Initial Term" refers to the first contractual period before the agreement is automatically or manually renewed for subsequent terms as specified in the renewal clause.
Definition of "Initial Term" as the agreed period in supply contracts
This definition links "Initial Term" to supplier agreements.
"Initial Term" means the period during which the supplier is obligated to deliver goods or services under the terms of the supply agreement, commencing on the effective date.
Definition of "Initial Term" as the default duration for loan agreements
This definition applies "Initial Term" to credit arrangements.
"Initial Term" refers to the original period for repayment or performance under a loan agreement, defined at the outset of the financial arrangement.
Definition of "Initial Term" as the fixed duration in licensing deals
This definition ties "Initial Term" to intellectual property agreements.
"Initial Term" means the period during which the licensee is granted rights to use the licensed intellectual property, beginning on the commencement date and expiring on the agreed end date.
Definition of "Initial Term" as the operative period for construction contracts
This definition connects "Initial Term" to project timelines.
"Initial Term" refers to the period during which the contractor is required to complete the agreed construction works, starting from the notice to proceed or project start date.
Definition of "Initial Term" as the contractual commitment for maintenance agreements
This definition links "Initial Term" to ongoing service obligations.
"Initial Term" means the period during which the service provider is obligated to perform maintenance or support services under the agreement, beginning on the commencement date.
Definition of "Initial Term" as the defined period for consulting agreements
This definition ties "Initial Term" to consulting arrangements.
"Initial Term" means the period during which the consultant provides services to the client under the agreed terms, starting from the commencement date and lasting for the specified duration.
Definition of "Initial Term" as the baseline period for manufacturing agreements
This definition connects "Initial Term" to production contracts.
"Initial Term" refers to the period during which the manufacturer is obligated to produce and deliver goods under the agreed specifications, beginning on the effective date of the agreement.
Definition of "Initial Term" as the operating period for franchise agreements
This definition links "Initial Term" to franchise operations.
"Initial Term" means the period during which the franchisee is granted the right to operate under the franchisor’s brand, commencing on the agreement’s start date and lasting for the initial specified term.
Definition of "Initial Term" as the trial duration for professional services
This definition applies "Initial Term" to service evaluation periods.
"Initial Term" refers to the trial period during which the service provider delivers services under the agreed terms, allowing the client to evaluate the quality and suitability of the services provided.
Definition of "Initial Term" as the contractual duration for real estate agreements
This definition ties "Initial Term" to property arrangements.
"Initial Term" means the period during which the lessee or buyer has contractual rights to occupy, lease, or purchase the property, commencing on the effective date of the agreement.
Definition of "Initial Term" as the primary period for technology agreements
This definition connects "Initial Term" to IT and software contracts.
"Initial Term" refers to the period during which the licensee or user has access to technology solutions or software under the initial licensing or usage agreement.
Definition of "Initial Term" as the introductory term for distribution agreements
This definition links "Initial Term" to product distribution.
"Initial Term" means the period during which the distributor has the exclusive or non-exclusive right to distribute the supplier’s products, beginning on the effective date of the agreement.
Definition of "Initial Term" as the agreed period for rental agreements
This definition applies "Initial Term" to short-term property rentals.
"Initial Term" refers to the duration of the rental period agreed upon by the lessor and lessee, starting on the rental start date and lasting until the specified end date.
Definition of "Initial Term" as the guaranteed period in academic contracts
This definition ties "Initial Term" to educational arrangements.
"Initial Term" means the period during which the institution is obligated to provide educational services to the student, commencing on the enrollment date and lasting for the agreed academic term.
Definition of "Initial Term" as the baseline period for research agreements
This definition connects "Initial Term" to research collaborations.
"Initial Term" refers to the agreed period during which parties conduct research activities under the terms of the research collaboration agreement.
Definition of "Initial Term" as the validity period for health care service contracts
This definition links "Initial Term" to medical agreements.
"Initial Term" means the period during which the health care provider delivers services to the patient or group under the terms of the health care agreement, starting from the effective date.
Definition of "Initial Term" as the duration for investment management agreements
This definition applies "Initial Term" to financial advisory contracts.
"Initial Term" refers to the period during which the investment manager is responsible for managing the client’s portfolio under the terms of the agreement, beginning on the commencement date.
Definition of "Initial Term" as the primary term for insurance policies
This definition ties "Initial Term" to coverage agreements.
"Initial Term" means the period during which the insurance policy remains in effect under the agreed terms, starting from the policy issuance date and lasting until the initial expiration date.
Definition of "Initial Term" as the specified period for employment-related agreements
This definition connects "Initial Term" to workplace contracts.
"Initial Term" refers to the period during which the employee is bound by the employment agreement, subject to renewal or extension based on performance or mutual agreement.
Definition of "Initial Term" as the evaluation period for joint ventures
This definition links "Initial Term" to business collaborations.
"Initial Term" means the period during which the joint venture operates under the agreed terms before evaluating its performance for potential extension or renegotiation.
Definition of "Initial Term" as the defined period for supply chain agreements
This definition ties "Initial Term" to procurement contracts.
"Initial Term" means the duration during which the supplier is obligated to deliver goods or services to the buyer under the terms of the supply chain agreement, starting from the effective date.
Definition of "Initial Term" as the initial period for data licensing agreements
This definition connects "Initial Term" to data usage rights.
"Initial Term" refers to the agreed duration during which the licensee has the right to access and utilize licensed data, beginning on the activation date and ending on the specified expiration date.
Definition of "Initial Term" as the contractual duration for renewable energy agreements
This definition links "Initial Term" to green energy initiatives.
"Initial Term" means the period during which the renewable energy provider is obligated to supply energy to the purchaser under the terms of the agreement, commencing on the start date.
Definition of "Initial Term" as the baseline period for clinical trial agreements
This definition applies "Initial Term" to medical research.
"Initial Term" refers to the initial duration of the clinical trial, during which all agreed phases and activities must be conducted as outlined in the trial agreement.
Definition of "Initial Term" as the operative period for warehousing agreements
This definition ties "Initial Term" to logistics and storage.
"Initial Term" means the period during which the warehouse operator is obligated to store and manage goods under the terms of the warehousing agreement.
Definition of "Initial Term" as the specified period in advertising agreements
This definition connects "Initial Term" to marketing campaigns.
"Initial Term" refers to the agreed duration during which the advertising agency provides services or executes campaigns for the client, beginning on the effective date.
Definition of "Initial Term" as the agreed timeframe for transportation agreements
This definition links "Initial Term" to logistics contracts.
"Initial Term" means the period during which the carrier is obligated to transport goods or provide logistics services as specified in the transportation agreement.
Definition of "Initial Term" as the trial duration for customer loyalty programs
This definition applies "Initial Term" to promotional initiatives.
"Initial Term" refers to the initial period during which customers participate in the loyalty program under its terms and conditions before renewal or reassessment.
Definition of "Initial Term" as the guaranteed period in IT support agreements
This definition ties "Initial Term" to technology services.
"Initial Term" means the period during which the IT service provider is obligated to deliver support services under the agreed terms, beginning on the start date.
Definition of "Initial Term" as the fixed term for performance contracts
This definition connects "Initial Term" to entertainment and events.
"Initial Term" refers to the agreed duration during which the performer or artist is contracted to deliver specific performances or services under the terms of the agreement.
Definition of "Initial Term" as the preliminary period for joint development agreements
This definition links "Initial Term" to collaborative projects.
"Initial Term" means the initial timeframe during which the parties collaborate on joint development activities under the terms of the agreement.
Definition of "Initial Term" as the baseline term for SaaS agreements
This definition applies "Initial Term" to software subscriptions.
"Initial Term" refers to the initial subscription period for the use of software-as-a-service (SaaS) platforms, beginning on the activation date and continuing for the agreed duration.
Definition of "Initial Term" as the default period in online platform agreements
This definition ties "Initial Term" to digital services.
"Initial Term" means the period during which the user has access to the online platform and its services under the agreed terms, commencing on the effective date.
Definition of "Initial Term" as the agreed duration in settlement agreements
This definition connects "Initial Term" to legal resolutions.
"Initial Term" refers to the period during which the parties are bound by the terms of the settlement agreement, beginning on the effective date and continuing until all obligations are fulfilled.
Definition of "Initial Term" as the operational period for aviation service agreements
This definition links "Initial Term" to airline contracts.
"Initial Term" means the period during which the aviation service provider delivers services to the airline or airport under the terms of the agreement, starting on the commencement date.
Definition of "Initial Term" as the agreed duration for energy supply contracts
This definition ties "Initial Term" to utility agreements.
"Initial Term" means the period during which the energy supplier is obligated to deliver electricity, gas, or other energy resources to the purchaser under the agreed terms.
Definition of "Initial Term" as the baseline period for co-branding agreements
This definition connects "Initial Term" to brand partnerships.
"Initial Term" refers to the initial duration during which the parties collaborate under a co-branding agreement, beginning on the effective date and lasting for the specified term.
Definition of "Initial Term" as the commitment period for merger agreements
This definition links "Initial Term" to corporate transactions.
"Initial Term" means the agreed period during which the parties are bound by the terms of a merger or acquisition agreement before it is completed or terminated.
Definition of "Initial Term" as the initial duration for publishing contracts
This definition applies "Initial Term" to content creation agreements.
"Initial Term" refers to the period during which the publisher has exclusive rights to distribute or monetize the author’s work under the agreed terms.
Definition of "Initial Term" as the trial period for maintenance agreements
This definition ties "Initial Term" to service reliability.
"Initial Term" means the initial timeframe during which the service provider performs maintenance or repair services to evaluate the feasibility of extending the agreement.
Definition of "Initial Term" as the operative duration for charter agreements
This definition connects "Initial Term" to transportation services.
"Initial Term" refers to the period during which the charter operator provides transportation services, beginning on the effective date and continuing for the agreed term.
Definition of "Initial Term" as the preliminary period for venture capital agreements
This definition links "Initial Term" to investment contracts.
"Initial Term" means the duration during which the venture capital firm commits to providing funding and support to the investee under the agreed terms.
Definition of "Initial Term" as the validity period for online advertising agreements
This definition applies "Initial Term" to digital marketing.
"Initial Term" refers to the period during which the advertiser’s campaign remains active on the platform, starting on the launch date and lasting for the agreed duration.
Definition of "Initial Term" as the agreed timeframe in subcontracting agreements
This definition ties "Initial Term" to delegated responsibilities.
"Initial Term" means the period during which the subcontractor is required to perform services or deliverables as specified in the subcontracting agreement.
Definition of "Initial Term" as the introductory term for health insurance policies
This definition connects "Initial Term" to policy coverage.
"Initial Term" refers to the period during which the insured receives health insurance coverage under the policy, beginning on the policy start date and ending on the initial expiration date.
Definition of "Initial Term" as the operative period for equipment rental agreements
This definition links "Initial Term" to leasing contracts.
"Initial Term" means the period during which the renter has the right to use the equipment under the rental agreement, starting from the rental commencement date.
Definition of "Initial Term" as the trial duration for educational software licenses
This definition applies "Initial Term" to academic agreements.
"Initial Term" refers to the period during which the educational institution or student has access to the licensed software under the terms of the agreement, starting on the activation date.
Definition of "Initial Term" as the agreed duration for manufacturing outsourcing
This definition ties "Initial Term" to third-party production.
"Initial Term" means the period during which the outsourcing provider is required to produce goods or components on behalf of the contracting party under the terms of the agreement.
Definition of "Initial Term" as the default duration for legal retainer agreements
This definition connects "Initial Term" to professional services.
"Initial Term" refers to the period during which the attorney or legal firm provides services to the client under a retainer agreement, starting from the effective date.
Definition of "Initial Term" as the specified period for non-compete agreements
This definition links "Initial Term" to employment restrictions.
"Initial Term" means the period during which the employee or contractor is restricted from engaging in competitive activities, as outlined in the non-compete agreement.
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