Ground Lease Term Sample Clauses
The Ground Lease Term clause defines the duration for which the lease of the land (as opposed to any buildings on it) will remain in effect. Typically, this clause specifies the start and end dates of the lease, which can often span several decades, and may outline any options for renewal or extension. By clearly establishing the time frame of the leasehold interest, this clause provides certainty to both the landlord and tenant regarding their long-term rights and obligations, thereby facilitating planning and investment decisions.
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Ground Lease Term. The term of this Ground Lease shall commence on the date hereof and shall expire, unless terminated earlier pursuant to the provisions of this Ground Lease, on February 10, 2035 (the "Initial Term"). The Initial Term of this Ground Lease shall be automatically extended for three (3) five year periods (each a "Renewal Term") unless on or before the date which occurs ninety (90) days prior to the expiration of the Initial Term or each Renewal Term, as the case may be, the Ground Lessee provides notice in writing to Ground Lessor of its election not to extend the Ground Lease Term. The Initial Term and each successive Renewal Term are referred to herein as the "Ground Lease Term". In no event shall any termination of the Lease or the discharge of the obligations of the Lessee under the Lease in any bankruptcy, insolvency or reorganization proceeding permit the early termination of this Ground Lease.
Ground Lease Term. The term of the Ground Lease shall be up to seventy-four
Ground Lease Term. The “Ground Lease Term” of this Ground Lease is set forth in the Basic Lease Information.
Ground Lease Term. The term of this Lease is commenced on , 2017 and shall terminate on June 30, 2115, unless terminated earlier in accordance with the terms of the Ground Lease.
Ground Lease Term. The EDA shall lease to the VRE and the VRE shall lease from the EDA the Property for a term commencing on the Effective Date first above written and continuing for as long as the VRE uses the Garage for commuter rail patron parking. During such term, the VRE shall have access to the Property on all days of the year and at all times. If the VRE either (i) determines that it no longer requires use of the Property for commuter rail patron parking and provides written notice to the EDA and the City of the same, or (ii) does not use the Garage for commuter rail patron parking for a period of one year, then the term of this Ground Lease shall automatically expire and this Ground Lease shall be deemed to have been terminated as of the date of such expiration and will thereafter have no further force and/or effect, except for those provisions that by definition necessarily survive the termination of this Ground Lease.
Ground Lease Term. The term of this Ground Lease (the "Ground ----------------- ------ Lease Term") shall begin on the Closing Date and, unless sooner terminated as ---------- provided in this Ground Lease, shall end on the thirtieth anniversary of the Closing Date.
Ground Lease Term. The term of the Ground Lease (“Term”) shall be up to seventy-four (74) years from the date of conveyance of the Improvements back to the Ground Lessee until 11:59 p.m. on the last day of the Term, or as otherwise earlier terminated pursuant to the terms and conditions of this Ground Lease.
Ground Lease Term. The term of each Ground Lease shall be fifty (50) years, with one (1) twenty-five (25) year renewal option, and the initial base rent payable for each Ground Lease is set forth on Schedule 2.3 attached hereto.
Ground Lease Term. This Ground Lease shall be effective and the Parcel shall be subject to the terms and conditions of this Ground Lease from and after the date hereof and shall terminate with respect to the Parcel on the earlier to occur of (a) the date of Lessee's purchase of the Facility pursuant to SECTION 19(b) of the Lease Agreement or (b) December 19, 2047, unless sooner terminated as provided or permitted herein (the "GROUND LEASE TERM").