Renewal Options. The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.
Renewal Options. This contract is initially executed for the period of 1 year with the option, at the Agency’s discretion, of 4 additional one-year option periods, for a maximum total of 5 years.
Renewal Options. Tenant shall have two (2) consecutive options (the "Renewal Options") to extend the Lease Term for consecutive periods of five (5) years each (the "First and Second Renewal Periods" respectively). The rental rate for each Renewal Period shall be equal to the prevailing market rent for properties similar to the Building in quality, size, location and use in Miami Florida on the date of the exercise of the Renewal Option, taking into account size and location of the Premises, any rent concessions, moving concessions, tenant allowances, and brokerage commissions prevailing in the market at such time, as well as Tenant's creditworthiness, length of the term, and extent of services provided or to be provided. Tenant shall exercise its option rights not later than one hundred eighty (180) days before the expiration date of the then current Lease Term. Landlord shall provide Tenant with its determination of the prevailing market rent within ten (10) days after receipt of Tenant's notice to exercise its Renewal Option. Tenant shall have twenty (20) days after receipt of Landlord's notice in which to notify Landlord of any objection thereto. In the event Tenant notifies Landlord of its objection to `the computation of such rental rate, then the parties shall negotiate in good faith for a period not to exceed thirty (30) days in order to come to agreement thereon. In the event the parties are unable to agree upon such rate within' such thirty (30) day period, then Tenant shall have the right, via written notice to Landlord within 10 days thereafter, to either revoke its exercise of the Renewal Option or to have the matter submitted to arbitration as follows: Each party shall select at its sole cost and expense, within ten (10) days thereafter, an arbitrator with at least five (5) years of experience in the valuation of office buildings in the Miami area. Each such arbitrator shall submit its valuation of the prevailing market rental rate in accordance herewith within ten (10) days after selection, and if the valuations are within ten percent (10%) of each other, then the valuations shall be averaged together to arrive at the prevailing market rent of the Premises. In the event the valuations have a disparity greater than ten percent (10%), then the arbitrators shall select a third arbitrator, who shall submit his/her valuation in accordance with the foregoing within ten (10) days after selection. The two valuations which are the closest to each other shall then be a...
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least [#] days’ notice before any ending termination date. The Lessee shall have [#] renewal period(s) as follows: 1st Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) 2nd Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. This contract is initially executed for a period of 12 months with the option, at MPHA’s discretion, to extend multiple times up to 48 additional months, for a maximum total of 60 months.
Renewal Options. This Contract may be renewed upon satisfactory completion of the Term. The State reserves the right to execute up to two (2) renewal options under the same terms and conditions for a period not to exceed twelve (12) months each by the State, at the State's sole option. In no event, however, shall the maximum Term, including all renewals or extensions, exceed a total of sixty (60) months.
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least (#) days’ notice before any ending termination date. The Lessee shall have (#) renewal period(s) as follows: 1st Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”
Renewal Options. This contract is executed for the period of time that it takes the Contractor to complete the work.
Renewal Options. Tenant has the option to renew (“Renewal Option”) this Lease for one 15-year renewal term (“Renewal Term”). Tenant can exercise the Renewal Option only upon satisfaction of the following conditions:
