Renewal of Lease Agreement Sample Clauses

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 4.2. The first Renewal Term shall be for two (2) Annual Periods and the second Renewal Term shall be for ten (10) Annual Periods. Termination of this Lease Agreement pursuant to this Article 3.3 shall be valid only if Lessee provides written notice of its intent to terminate to Lessor at least nine (9) months prior to the expiration of the Base Term or the first Renewal Term. Upon expiration of the second Renewal Term, this Lease Agreement may be continued thereafter by mutual agreement of the Parties.
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Renewal of Lease Agreement. It is understood and agreed upon that COMPANY shall have the right to extend the term of the Lease Agreement after the termination of the original lease term, for one (1) additional term of five (5) years. It is understood that COMPANY shall notify IAMSA in writing, at least 180 days prior to the termination of the initial lease term or its extensions, regarding its intention to exercise this option. If no written notice is received prior to such period, it is understood that the COMPANY has no intention to renew the lease and consequently shall immediately proceed to vacate the premises as stated hereunder at the expiration of the lease term. It is also agreed that the payment of rent during the first year of the extension period, will be the same as was in force during the last year of the original lease term, reflecting only the annual increases as established in Clause V, paragraph A of this Lease Agreement.
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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: 0/X 0000 Xxxxxxxxxx Xxxxxx, 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$2,282,429) over the renewed 3 year term of the lease (i.e. from 1 February 2012 to 31 January 2015). Under Rule 14A.35(2) of the Listing Rules, an annual cap is required to be set for each continuing connected transaction. The proposed annual caps in respect of the Renewal Contract for the period from 1 February 2012 to 31 December 2012 and the years ending 31 December 2013 and 2014 are set out below: 2012 (from 1 February 2012 to 31 December 2012) 2013 2014 US$ million US$ million US$ million (HK$ million) (HK$ million) (HK$ million) (0.8) (0.8) (0.8) 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. LISTING RULES IMPLICATIONS 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 Lis...
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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 as 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.
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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 Xx. Xx Xxxxxx and Xx. Xx Xxxxx respectively, as lessor; and
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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, Xx. Xx Xxxxxx and Xx. Xx Xxxxx 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, Xx. Xx Xxxxxx and Xx. Xx Xxxxx 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, Xx. Xx Xxxxxx and Xx. Xx Xxxxx 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, Xx. Xx Xxxxxx and Xx. Xx Xxxxx 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
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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.
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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.
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Related to Renewal of Lease Agreement

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • 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.

  • TERMS OF LEASE This lease shall be for a term of two (2) school semesters beginning on the 20th day of August 2021 and terminating without notice at 5:00 PM on the 20th day of May 2022. LESSEES shall move-in on a pre-scheduled date as indicated hereafter, and shall move-out at the end of the lease term after a move-out inspection has been completed by LESSOR.

  • Notice of Lease Owner shall give to Standard & Poor's Ratings Services, a Standard & Poor's Financial Services LLC business, a copy of any notice regarding a lease of the Aircraft required to be given to the Mortgagee pursuant to clause (w) of the first sentence of the penultimate paragraph of Section 4.02(b) of the Trust Indenture, at the time such notice is given to Mortgagee, if at such time Standard & Poor's is then rating the Pass Through Certificates.

  • Non-Renewal of Agreement (i) If the Company gives a Non-Renewal Notice to the Executive, the Employment Term and the Executive’s employment hereunder shall terminate as of the expiration of the Initial Term or then-current Renewal Term, as applicable, and the Company shall provide the Executive with all of the payments and benefits set forth in Section 4(c) hereof, subject to his execution and non-revocation of the Release by the Release Effective Date.

  • Renewal of Agreement This agreement does not automatically renew, and residence in UCF DHRL residence facilities during one agreement period does not guarantee that residence accommodations will be offered to the Student for any following periods. The Student is solely responsible for the timely completion of housing agreements for future periods. UCF DHRL housing agreements shall not be re-offered to residents who are unwilling to adhere to the basic elements of good housekeeping, and community living. UCF DHRL housing agreements shall not be re-offered to residents who disregard or violate rules, regulations, or policies established for governing UCF DHRL residential facilities. Finally, housing agreements shall not be re-offered to residents who have outstanding charges from UCF DHRL.

  • Lease Agreements 13.1 The Customer shall provide FPL a copy of the lease agreement, as applicable, for any and all leased interconnection equipment.

  • Amendment of Lease The Lease is hereby amended as follows:

  • Modification of Lease Should any current or prospective mortgagee or ground lessor for the Building or Project require a modification of this Lease, which modification will not cause an increased cost or expense to Tenant or in any other way materially and adversely change the rights and obligations of Tenant hereunder, then and in such event, Tenant agrees that this Lease may be so modified and agrees to execute whatever documents are reasonably required therefor and to deliver the same to Landlord within ten (10) business days following a request therefor. At the request of Landlord or any mortgagee or ground lessor, Tenant agrees to execute a short form of Lease and deliver the same to Landlord within ten (10) business days following the request therefor.

  • Termination of Lease Should Landlord elect to terminate this Lease pursuant to the provisions of Sections 24.1 (a) or (c) above, Landlord may recover from Tenant, as damages, the following: (a) The worth at the time of award of any unpaid rental which had been earned at the time of the termination, plus (b) the worth at the time of award of the amount by which the unpaid rental which would have been earned after termination until the time of award exceeds the amount of rental loss Tenant proves could have been reasonably avoided, plus (c) the worth at the time of award of the amount by which the unpaid rental for the balance of the Term after the time of award exceeds the amount of rental loss that Tenant proves could be reasonably avoided, plus (d) any other amounts necessary to compensate Landlord for all the detriment proximately caused by Tenant's failure to perform its obligations under this Lease or which, in the ordinary course of things, would be likely to result therefrom including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys' fees therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) leasing commissions, or (v) any other costs necessary or appropriate to relet the Premises, plus (e) at Landlord's election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by the laws of the State of Nevada. As used in subparagraphs (a) and (b) above, the "worth at the time of award" is computed by allowing interest at the maximum lawful rate. As used in subparagraph (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank situated nearest to the location of the Shopping Center at the time of award plus one percent (1%).

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