Renewal of Lease. (a) Lessee may request in writing (the “Renewal Option Request”) to the Administrative Agent, Lessor and each Participant pursuant to the Lease to renew the Term (the “Lease Renewal”) for one additional five-year period commencing on the last day of the Base Term (a “Lease Renewal Term”), and that the Maturity Date for the Loans and the Lessor Amount be correspondingly extended to the extended Expiration Date. Such Renewal Option Request must be delivered in writing to Administrative Agent not later than one hundred eighty (180) days nor more than three hundred sixty-five (365) days prior to the expiration of the Base Term. The Administrative Agent shall distribute a copy of the Renewal Option Request to each Participant, promptly after receipt thereof from the Lessee. Each Participant will notify Administrative Agent (who shall promptly notify the Lessee) in writing of whether or not it has consented to such Renewal Option Request not later than forty-five (45) days after the date on which the Administrative Agent receives the Renewal Option Request (the “Renewal Option Response Date”). Any failure by any Participant to so notify Administrative Agent by the Renewal Option Response Date will be deemed to be a non-consent by such Participant. Each Participant’s determination with respect to the Renewal Option Request shall be a new credit determination and within such Participant’s sole and absolute discretion and may be conditioned upon such terms and conditions as shall be deemed appropriate by such Participant, which may include receipt of such financial information, documentation or other information or conditions as may be requested in writing by such Participant and the receipt of a satisfactory appraisal of the Leased Property. It is a condition that all Participants consent to the renewal set forth in the Renewal Option Request for any renewal of the Lease to be effective. Lessee shall have thirty (30) days after the Renewal Option Response Date (such time period being referred to as the “Renewal Rescission Period”) to irrevocably rescind the Renewal Option Request and elect not to extend the Term (a “Renewal Rescission”). If Lessee exercises a Renewal Rescission, the Lease shall terminate on the last day of the Term and Lessee shall be deemed to have exercised the Purchase Option. Any failure by Lessee to exercise a Renewal Rescission during the Renewal Rescission Period shall be deemed a waiver of the right of Lessee to effectuate a Renewal Rescis...
Renewal of Lease. Provided this Lease is then if full force and effect and Tenant is in full compliance with the terms and conditions of this Lease, Landlord hereby grants to Tenant an option to renew this Lease for one period of five (5) years, at a rental rate equal to the rental rate then being offered by Landlord to tenants desiring to lease comparable space in the Building or in other buildings comparable to the Building, with comparable amenities and services and comparable parking rights and privileges, and with consideration of a refurbishment allowance of Five and no/100 Dollars ($5.00) per rentable square foot, as such rate is established by Landlord in its reasonable judgment. Tenant shall notify Landlord no more than twelve (12) months and no less than ten (10) months prior to the end of the Term if Tenant desires to renew this Lease under the terms of this Paragraph. If Tenant does give such notice, Landlord shall indicate to Tenant at least nine (9) months prior to the end of the Term the rental rate which shall be in effect for the Term as extended, on the basis as above described. Tenant shall have thirty (30) days from the date Landlord makes such offer to either accept or reject such offer. If Tenant rejects such offer or fails to respond within such thirty (30) day period, then this Lease shall terminate as of the end of the Term as established herein. If Tenant accepts such offer, then the Term shall be extended by said five (5) year period, upon the same terms and conditions as contained in this Lease, and the rent for such period shall be the rent as offered by Landlord and accepted by Tenant pursuant to the terms and conditions of this Paragraph.
Renewal of Lease. If Tenant desires to renew this Lease for an additional term, Tenant must give Landlord written notice of such desire no less than ninety (90) days prior to the end of Lease term or November 30, 2020 , whichever comes first. Landlord reserves the right to deny Tenant’s request to renew this Lease and to modify the amount of rent due for any such renewal.
Renewal of Lease. This lease does not automatically renew—. A new lease agreement must be signed (written or electronic signature). The Tenant must notify the Landlord 90 days before the term expires of their intent to renew or vacate the property.
Renewal of Lease. 12.1 Upon giving written notice no later than 60 days before the expiration of the term of this Lease, the Tenant may renew this Lease for an additional term. All terms of the renewed lease will be the same except for this renewal clause.
Renewal of Lease. After the expiration of the Initial Lease Term the Lessor and/or its heirs/trustees agrees to extend the Lease of this Agreement for further two (2) extensions, each extension being for thirty (30) years. Any costs, expenses, and fees arising from any of the renewal terms (the “New Lease”) are to be borne by the Lessee.
Renewal of Lease. This lease shall be renewed annually unless either party serves the other party with a forty-five (45) day written notice of termination prior to the expiration of this lease. Management must inform the tenant, in writing, of the amount of rent increase within forty-five (45) days of expiration of this lease.
Renewal of Lease. Xxxxxxxx is not obligated to renew the Lease, whether or not notice hereunder is sent to Landlord. Landlord reserves the right in its sole discretion to lease the property to other tenants, or to the current Tenant under different terms, after the expiration of the initial term of this Lease.
Renewal of Lease. In case Party B requires the renewal of lease at the end of the lease period, Party B shall give written notice to Party A six months prior to the expiry of the lease period. The parties shall enter into a new lease contract. The terms of the new lease contract shall be the same as those in this Contract, but the rent shall be further negotiated and agreed by the parties. Under the same conditions, Party B shall have the priority in renewal of lease.
Renewal of Lease. Landlord is not obligated to renew the Lease, whether or not notice hereunder is sent to Landlord. Landlord reserves the right in its sole discretion to lease the property to other tenants, or to the current Tenant under different terms, after the expiration of the initial term of this Lease. Landlord will begin showing places and signing leases to new tenants on January 5th each year. An email will be sent out to current tenants to notify of showings the day before showing your apartment.
