EXTENSION TERM AND RENT. This Lease will expire on 31st August 2022. Party A will grant Party B an option to lease the Premises for a further period of five years (from 1st September 2022 to 31st August 2027). Rental relating to the 1st year’s renewal will therefore be 102.5% of the 2021-2022 rental. Thereafter the rent will increase 2.5% per annum.
Appears in 2 contracts
Samples: Nord Anglia Education, Inc., Nord Anglia Education, Inc.
EXTENSION TERM AND RENT. This Lease Agreement will expire on 31st August 2022. Party A will grant Party B an option to lease the Premises Building for a further period of five years (from 1st September 2022 to 31st August 2027)2027 at a rent to be calculated at 102.5% of the rent of the previous year. Rental relating to the 1st year’s renewal will therefore be 102.5% of the 2021-2022 rental. Thereafter the rent will increase 2.5% per annum.
Appears in 2 contracts
Samples: Lease (Nord Anglia Education, Inc.), Lease (Nord Anglia Education, Inc.)
