LEASE DURATION. The lease commences on the day of , 20 , terminates on the day of 20_ . This lease shall automatically renew for additional terms of six (6) months/twelve (12) month for stockholders unless Lessor or Lessee gives written notification prior to the then current lease term that they do not intend to renew the lease. Any renewal shall be upon the same terms and conditions contained in this lease and at latest rates determined by the Briny Breezes Board of Directors. Payment, in full must be received on or before the last working day of the week prior to the above stated termination date.
Appears in 2 contracts
Sources: Marina Slip Agreement, Marina Slip Agreement