Renewal Lease Term Sample Clauses

Renewal Lease Term. 1 3.3 Basic Rent and Renewal Rent............................ 1 3.4
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Renewal Lease Term. Lessee shall have the option to extend the Lease Term * . Such option may be exercised only by delivery of (1) a Rent Determination Request (as defined in Section 2 to Schedule 2) on a timely basis and (2) written notice to Lessor at least 12 months prior to the then scheduled expiration of the Lease Term electing to extend the Lease Term * , provided that Lessee may not exercise such option at any time when an Event of Default has occurred and is continuing. The Renewal Lease Term shall end on the Renewal Lease Term Termination Date, provided that if the last day of the Renewal Lease Term shall not be a Business Day, then the Renewal Lease Term shall expire on the next preceding Business Day.
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Renewal Lease Term. Unless sooner terminated under the provisions hereof, the term of this Lease shall be for a period of one (1) year (the “Renewal Term”), commencing on the 1st day of July, 2012, (hereinafter referred to as the “Commencement Date”) and ending on the 30th day of June, 2013.
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Renewal Lease Term. First Renewal Lease Term" shall mean the period commencing upon the expiration of the Initial Lease Term and expiring five (5) years thereafter subject to earlier termination upon any termination of this Lease pursuant to the terms of this Lease.
Sample 1
Renewal Lease Term. Lessee shall have the option to extend the Lease Term up to two times, with each such extension to be for a one year period. Such option may be exercised only by delivery of (1) a Renewal Rent Determination Request on a timely basis (as provided below) and (2) written irrevocable notice to Lessor at least 6 months prior to the then scheduled expiration of the Lease Term electing to extend the Lease Term by one year, provided that Lessee may not exercise such option at any time when an Event of Default has occurred and is continuing. Each Renewal Lease Term shall commence on last day of the Lease Term (without regard to such Renewal Lease Term) and end on the Renewal Lease Term Termination Date, provided that if the last day of a Renewal Lease Term shall not be a Business Day, then such Renewal Lease Term shall expire on the next preceding Business Day. Upon written request (a "Renewal Rent Determination Request") from Lessee to Lessor at least 8 months but no more than 10 months prior to the then scheduled expiration of the Lease Term, Lessor and Lessee shall in good faith and acting reasonably determine the Renewal Rent Amount. If 15 days prior to the Renewal Rent Determination Date, Lessor and Lessee cannot determine the Renewal Rent Amount, then the Renewal Rent Amount shall be determined by two recognized independent aircraft appraisers, one of which shall be selected by Lessee (at its expense) and one of which shall be selected by the Lessor (at its expense), or if such appraisers cannot agree, by a third independent appraiser chosen by the mutual assent of the first two appraisers (with the cost of such third appraiser to be shared equally by Lessor and Lessee). If either party shall fail to appoint an appraiser at least 11 days prior to the Renewal Rent Determination Date, or if such two appraisers cannot agree on the amount of the Renewal Rent and fail to appoint a third appraiser at least eight days prior to the Renewal Rent Determination Date, then Lessor and Lessee shall jointly request the American Association of Equipment Lessors (or any successor organization) to appoint the relevant appraiser. Any such third appraiser shall determine the amount of the Renewal Rent on or prior to the Renewal Rent Determination Date.
Sample 1
Renewal Lease Term. This Lease shall be renewed for a period of five (5 ) years, commencing February 1, 2020 and continuing through January 31, 2025 (“Renewal Term”), at the same terms and conditions as set forth in the Lease, except as otherwise provided herein.
Sample 1
Renewal Lease Term. Subject to each and every one of the following contingencies, Tenant shall have the option to have the Lease Term end as of the end of the Renewal Lease Term instead of the Initial Lease Term:
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Renewal Lease Term. In the event that the United States Bureau of Labor Statistics shall discontinue the issuance of the Index, then the rental adjustment provided for herein shall be made on the basis of changes in the most comparable and recognized cost of living index then issued and available, which is published by the United States Government.
Sample 1
Renewal Lease Term. Lessee shall have the option to extend the Lease Term beyond the Basic Term Expiry Date for one (1) additional term consisting of twelve (12) months (the "Renewal Lease Term"). The Renewal Lease Term shall commence on the Basic Term Expiry Date and end on the date twelve (12) months following the commencement of the Renewal Lease Term; provided that if the last day of the Renewal Lease Term shall not be a Business Day, then the Renewal Lease Term shall expire on the next preceding Business Day. Such option may be exercised only by delivery of irrevocable written notice to Lessor at least one hundred eighty (180) days prior to the expiration of the Basic Lease Term. The Renewal Lease Term shall be governed by the terms of this Agreement. As a condition precedent to Lessee's right to elect to extend the Lease Term, no Event of Default may be occurring at the time of such notice or such extension. Exercise of Lessee's option to extend the Lease Term pursuant to this Section 3(a)(ii) shall not prejudice the rights of Lessor arising upon the occurrence of a Default or an Event of Default, including, without limitation, the right of Lessor, upon the occurrence of an Event of Default, to terminate this Lease at any time after such occurrence.
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Related to Renewal Lease Term

  • Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.

  • Sublease Term The term of the Sublease (“Sublease Term”) commences on the later to occur of (1) Sublandlord’s receipt of Prime Landlord’s written consent to this Sublease, and (2) October 1, 2009 (“Sublease Commencement Date”); and expires on January 28, 2018 (“Sublease Expiration Date”; i.e., the day prior to the Termination Date pursuant to the Prime Lease). Sublandlord shall deliver the Subleased Premises “broom clean” and free of all of Sublandlord’s personal property (other than the F&F (defined in Section 2(f))) and debris, but otherwise in “AS IS, WHERE IS” condition on the Sublease Commencement Date; provided that Subtenant shall not be responsible for, or required to remedy, any violation of any applicable law, or any condition or state of facts, with respect to the Subleased Premises, the Building or the Land existing on or prior to the Sublease Commencement Date. Sublandlord is not required to perform any work to prepare the Subleased Premises for Subtenant’s intended use. If (i) for any reason Sublandlord has not received Prime Landlord’s written consent to this Sublease in form required by Section 15(i) below by the date which is sixty (60) days from the date hereof, or (ii) Prime Landlord elects to terminate the Prime Lease in respect of the Subleased Premises pursuant to Prime Landlord’s recapture right set forth in Section 16.5 of the Prime Lease, then in the case of (i), then Sublandlord and Subtenant each may elect at any time thereafter to terminate this Sublease by written notice to the other, whereupon the parties shall deem this Sublease to be null and void and of no effect (except for those provisions expressly stated herein to survive a termination), and in the case of (ii) the Sublease will be deemed terminated in accordance with Section 16.5 of the Prime Lease.

  • Lease Term The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.

  • Option to Extend Lease Term Landlord hereby grants to Tenant one option to extend the Lease Term of the 000 Xxxx Xxxxx Lease for a five (5) year term commencing when the prior term expires, under the following terms and conditions:

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • TERM OF LEASE This Lease shall commence on the date of ________ and shall continue until its natural termination under this part on the date of ________ at 11:59 PM. After the date of termination, this Lease shall automatically renew and shall continue for the same term amount until Landlord or Tenant undertake cancellation of this Lease in writing. At the expiration of this Lease, Tenant shall be responsible for providing a forwarding address to Landlord to receive any funds owed or other notices.

  • Extension of Lease Term The Original Lease Term is hereby extended for a period of eighteen (18) months continuing through and including November 30, 2022 (the “Extension Term” and the Original Lease Term as so extended by the Extension Term, the “Lease Term”).

  • LEASE RENEWAL This Lease does not automatically renew and this Lease automatically terminates on the Lease Termination Date. Lessee may be given an opportunity to sign a new or renewal Lease for another Lease Term and remain in the Premises. If Lessee does not sign a new or renewal Lease, UTA may lease the Premises to another Lessee. In the event Lessee holds over beyond the expiration or sooner termination of this Lease, holdover penalties shall apply in accordance with the Terms and Conditions.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Extension Term (a) Tenant shall have the right to extend the Term for all of the Premises for one extension term of 5 years (the "Extension Term") which shall commence on the day following the expiration of the initial Term and end on the fifth anniversary of the Expiration Date, unless the Extension Term shall sooner terminate pursuant to any of the terms of this Lease or otherwise. The Extension Term shall commence only if (i) Tenant shall have notified Landlord in writing of Tenant's exercise of such extension right not later than nine (9) months prior to the Expiration Date, (ii) at the time of the exercise of such right and immediately prior to the Expiration Date, no event of Default shall have occurred and be continuing hereunder, and (iii) Tenant and/or Related Entities shall be in occupancy of at least 80 percent of the Premises at the time such notice is given. Time is of the essence with respect to the giving of the notice of Tenant's exercise of the extension option. The Extension Term shall be upon all of the agreements, terms, covenants and conditions hereof binding upon Tenant, except that (x) the Fixed Rent (as defined in Article 1) shall be determined as provided in Section 2.2(b), (y) Tenant shall have no further right to renew the Term and (z) Landlord shall have no obligation to provide any work or contribution to improve the Premises for Tenant's use. Upon the commencement of the Extension Term, (A) the Extension Term shall be added to and become part of the Term (but shall not be

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