Existing Term Clause Samples

Existing Term. In the event that Tenant elects to lease Expansion Space 1 for the Existing Term, the Expansion Rent payable by Tenant for Expansion Space 1 shall be comprised of (i) Base Rent, including escalations, at the same per rentable square foot rate as is applicable to the initial Premises, and (ii) Additional Rent in accordance with the terms of this Lease, including, without limitation, the Base Year set forth in Section 5 of the Summary. In the event that Tenant elects to lease Expansion Space 1 for the Existing Term, Tenant shall be entitled to an allowance for the design and installation of improvements to Expansion Space 1 and/or other portions of the Premises in an amount equal to $20.00 for each usable square foot of Expansion Space 1.

Existing Term. The Existing Term of MAS's services to the Bion Companies as an employee pursuant to the agreement of 2007 ('2007 Agreement') runs through December 31, 2008 ('Existing Term') during which Existing Term MAS's services to the Bion Companies shall be the primary employment of MAS as set forth in the following provisions: i) MAS shall provide his services to the Bion Companies as an employee of Bion. ii) During the Existing Term, MAS shall continue to serve as Director, President and General Counsel of Bion (and each of the Bion Companies), which positions may be altered as the Bion Companies engage/hire additional senior management personnel and iii) Bion and MAS will endeavor to hire replacements for MAS on or before September 30, 2008 so that an appropriate transition may take place on or before March 31, 2009.