103 Renewals Clause Samples

103 Renewals. Lessee is granted one (1), two (2) year option to renew this lease. Option to renew must be exercised at least 90 days prior to the end of the initial term. The monthly rent amount due during any month of the renewal period shall be the greater of (a) the monthly rent due during the initial term of this Lease, or (b) an adjusted monthly rent calculated by multiplying the monthly rent due during the term or extended term of the Lease in effect at the time of Tenant's exercise of its renewal right by the average of the monthly Consumer Price Index published by the Federal Government for the twelve (12) consecutive calendar months immediately prior to the conclusion of such lease term