Common use of Commercial Term Clause in Contracts

Commercial Term. a. The Commercial Term shall commence on the Commercialization Date, and shall , provided that Company shall have the right to extend the Commercial Term for up to (each, an “Extended b. Company, in its sole and absolute discretion, shall have the right to terminate this Lease, as to all or any portion of the Leased Property, at any time during the Commercial Term, effective upon at least ninety (90) days written notice to Landowner. If such termination is as to only part of the Leased Property, (i) this Lease shall remain in effect as to the remainder of the Leased Property, and (ii) Company will be obligated to satisfy the obligations set forth in Section 7 for that portion of the Leased Property with respect to which Company has exercised such termination right.

Commercial Term. a. The Commercial Term shall commence on the Commercialization Date, and shall , provided that Company shall have the right to extend the Commercial Term for up to (each, an “Extended b. Company, in its sole and absolute discretion, shall have the right to terminate this Lease, as to all or any portion of the Leased Property, at any time during the Commercial Term, effective upon at least ninety (90) days written notice to Landowner. If such termination is as to only part of the Leased Property, (i) this Lease shall remain in effect as to the remainder of the Leased Property, and (ii) Company will be obligated to satisfy the obligations set forth in Section 7 for that portion of the Leased Property with respect to which Company has exercised such termination right.