Renewal of Lease Agreement Clause Samples

Renewal of Lease Agreement. Upon the expiration of the Base Term, this Lease Agreement shall automatically be extended for two (2) succeeding terms (hereinafter referred to as the "Renewal Terms"), unless Lessee elects to terminate this Lease Agreement at the expiration of the Base Term or the first Renewal Term. In the event that this Lease Agreement terminates during the Base Term pursuant to Article 15, Lessee shall not owe Lessor Renewal Term rent pursuant to Article 4.

Renewal of Lease Agreement. It is understood that LESSEE shall have the right to extend the term of this lease agreement after termination of the original term. LESSEE shall notify LESSOR in writing, at least 180 days prior to the termination of the original term, regarding it’s intention to exercise this option. If no written notice is received prior to such period, it is understood that the LESSEE has no intention to renew the lease and consequently shall immediately proceed to vacate the premises was stated hereunder. It is also agreed that the payment rent during the first year of the extension period, will be the same in force during the last year of the original lease term, reflecting only the annual increasing as established in Clause V, paragraph A of this lease agreement.

Renewal of Lease Agreement. This Rental Agreement shall not be automatically renewed. A Rental Agreement for a fixed term expires without further notice. If tenancy is to be continued beyond the stated Rental Agreement term, parties should make arrangements in advance of Rental Agreement expiration. Tenant is responsible for contacting Landlord to renew said Rental Agreement. Should ▇▇▇▇▇▇ decide not to renew said Rental Agreement, Tenant shall give written notice to Landlord 45 days prior to expiration of said Rental Agreement.

Renewal of Lease Agreement. The Landlord hereby grants to the Tenant the option to renew the main agreement for ( ) years subject to Clause 4 of Annexure A-Standard Clauses.

Renewal of Lease Agreement. This Lease Agreement is automatically renewed on April 15th of the following year unless Tenant is in default of this Lease Agreement; Tenant provides written notice of termination no later than September 15th of the current year; or Landlord provides thirty (30) day written notice of termination.

Renewal of Lease Agreement. Reference is made to the announcement of the Company dated 24 August 2018 in relation to, among other matters, the lease of part of the PRC Property for three years commenced on 1 September 2018 and ending on 31 August 2021. On 27 August 2021 (after trading hours of the Stock Exchange), KEE Jingmen as lessor and KEE Guangdong Jingmen Branch as lessee, entered into the Lease Agreement in relation to the lease of the PRC Property for a term of two years from 1 September 2021 to 31 August 2023. The principal terms of the Lease Agreement are set out below: Date: 27 August 2021 Parties (1) KEE Jingmen, a company indirect owned as to 50% and 50% by ▇▇. ▇▇ ▇▇▇▇▇▇ and ▇▇. ▇▇ ▇▇▇▇▇ respectively, as lessor; and

Renewal of Lease Agreement a. At the end of the term i.e., after months, this agreement stands terminated and parties can renew the agreement by signing a new agreement on mutually agreed terms. This agreement should be referred to in the new agreement for Security Deposit and other property-related details. b. In a scenario wherein multiple and mutually unrelated lessees (Not family members) i.e., office colleagues, students etc. are party to this agreement and if any or more among them leave the premise and move out of this agreement as lessee; this agreement shall be terminated and remaining parties will sign a fresh agreement on mutually agreed terms. If this termination happens before the lock-in period and parties are not renewing this agreement security deposit will be forfeited as agreed above in the agreement. c. It is the sole responsibility of the lessee (any and all the parties to the agreement) to inform the lessor about the exit of one or more mutually unrelated lessee. If not informed; any and all liability of the exiting lessee shall be solely borne by the remaining lessee in the agreement.

Renewal of Lease Agreement. The Company also announces the entering into between DMCIPD and Maynilad of a renewal of contract of lease (the “Renewal Contract”) dated 20 January 2012. Under the Renewal Contract, DMCIPD and Maynilad agree to renew the terms of the Lease Agreement for a period of three years commencing on 1 February 2012, or until the close of business on 31 January 2015. All other terms and conditions of the Lease Agreement remain in full force and effect. The principal terms of the renewed lease are summarised below: Date of original Lease Agreement: 23 March 2009 Date of Renewal Contract: 20 January 2012 Term of Renewal Contract: 1 February 2012 to 31 January 2015 Rented premises: ▇/▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Barangay Bangkal, Makati City, the Philippines together with twelve parking units Consideration: Php356,345 (approximately US$8,128 and approximately HK$63,401) per month; or Php4,276,140 (approximately US$97,540 and approximately HK$760,810) per annum; or Php12,828,420 (approximately US$292,619 and approximately HK$2,282,429) over the renewed 3 year term of the lease (i.e. from 1 February 2012 to 31 January 2015). Under Rule 14A.35(2) of the Listing Rules, an annual cap is required to be set for each continuing connected transaction. The proposed annual caps in respect of the Renewal Contract for the period from 1 February 2012 to 31 December 2012 and the years ending 31 December 2013 and 2014 are set out below: The consideration in respect of the Lease Agreement, as renewed by the Renewal Contract, is determined based on prevailing lease rates in the relevant area in the Philippines. The Renewal Contract was entered into on normal commercial terms, in the ordinary course of business of Maynilad and DMCIPD, and on an arm’s length basis. There is no increase in the rental rate under the Renewal Contract despite the general increase in rental rates in the relevant area in the Philippines. Accordingly, Maynilad confirmed that entering into the Renewal Contract would be the most cost-effective option available to them. Pursuant to Rule 14A.36(2) of the Listing Rules, where a relevant agreement is renewed, the Company must re-comply with the reporting, announcement and/or independent shareholders’ approval requirements (as appropriate) as set out in Rules 14A.35(3) and 14A.35(4) of the Listing Rules. The aggregated annual caps in respect of the Framework Agreement and the Renewal Contract for the years ending 31 December 2012(note), 2013 and 2014 are set out below: 2...

Renewal of Lease Agreement. Reference is made to the announcements of the Company dated 7 December 2012, 28 December 2015 and 31 December 2018 in relation to, among other matters, the renewal of the Lease Agreement. On 7 December 2012, ▇▇. ▇▇ ▇▇▇▇▇▇ and ▇▇. ▇▇ ▇▇▇▇▇ as lessors and KEE Guangdong as lessee entered into a lease renewal agreement for the Guangdong Plant to renew the lease of the Guangdong Plant for a term of three years from 1 January 2013 to 31 December 2015. On 28 December 2015, ▇▇. ▇▇ ▇▇▇▇▇▇ and ▇▇. ▇▇ ▇▇▇▇▇ as lessors and KEE Guangdong as lessee entered into a lease renewal agreement for the Guangdong Plant to renew the lease of the Guangdong Plant for a term of three years from 1 January 2016 to 31 December 2018. On 31 December 2018, ▇▇. ▇▇ ▇▇▇▇▇▇ and ▇▇. ▇▇ ▇▇▇▇▇ as lessors and KEE Guangdong as lessee entered into a lease renewal agreement for the Guangdong Plant to renew the lease of the Guangdong Plant for a term of two years from 1 January 2019 to 31 December 2020. At the request of KEE Guangdong, on 31 December 2020, ▇▇. ▇▇ ▇▇▇▇▇▇ and ▇▇. ▇▇ ▇▇▇▇▇ as lessors and KEE Guangdong as lessee, entered into the Lease Renewal Agreement to renew the lease of the Guangdong Plant for a further term of two years from 1 January 2021 to 31 December 2022. Further details of the Lease Renewal Agreement are set out below: Date: 31 December 2020