Renewal Options. The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.
Renewal Options. This contract is initially executed for the period of 1 year with the option, at the Agency’s discretion, of 4 additional one-year option periods, for a maximum total of 5 years.
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least [#] days’ notice before any ending termination date. The Lessee shall have [#] renewal period(s) as follows: 1st Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) 2nd Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”
Renewal Options. This Contract may be renewed upon satisfactory completion of the Term. The State reserves the right to execute up to two (2) renewal options under the same terms and conditions for a period not to exceed twelve (12) months each by the State, at the State's sole option. In no event, however, shall the maximum Term, including all renewals or extensions, exceed a total of sixty (60) months.
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least (#) days’ notice before any ending termination date. The Lessee shall have (#) renewal period(s) as follows: 1st Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. This contract is initially executed for a period of 12 months with the option, at MPHA’s discretion, to extend multiple times up to 48 additional months, for a maximum total of 60 months.
Renewal Options. This contract is executed for the period of time that it takes the Contractor to complete the work.
Renewal Options. Tenant has the option to renew (“Renewal Option”) this Lease for one 15-year renewal term (“Renewal Term”). Tenant can exercise the Renewal Option only upon satisfaction of the following conditions:
Renewal Options. If there is no uncured Event of Default hereunder, Tenant shall have the right to renew the Term of this Lease for two (2) additional periods of five (5) years each upon the same terms, conditions and provisions applicable to the primary term of this Lease (unless otherwise expressly provided herein), except that the annual Base Rental (which shall include a Riser Fee) for each additional term of five (5) years shall equal the product of the number of square feet of rentable area then contained in the Leased Premises multiplied by an amount equal to the then prevailing market base rental rate (including market riser fee rate) per rentable square foot per annum charged for comparable space in comparable buildings and with comparable use in the central business district of Dallas, Texas, as reasonably determined by Landlord (taking into account that the Base Operating Expenses Rate shall remain unchanged and Tenant pays for certain utilities and services directly as provided in this Lease). Tenant shall evidence its intent to exercise its right of renewal separately with respect to each renewal term by delivering to Landlord written notice ("Tenant's Renewal Notice") of Tenant's desire to renew the Term of this Lease as aforesaid at least six (6) months (but not more than twelve (12) months) prior to the expiration of the then current Term of this Lease. Within thirty (30) days following delivery of Tenant's Renewal Notice, Landlord shall deliver to Tenant a written notice ("Landlord's Notice") specifying the Base Rental rate (including Riser Fee rate) per rentable square foot per annum for the applicable additional term of five (5) years. Tenant shall have thirty (30) days following delivery of Landlord's Notice in which to notify Landlord of Tenant's exercise of its rights to renew the Term hereof. Failure to notify Landlord within such period or to timely deliver Tenant's Renewal Notice shall automatically extinguish Tenant's rights to renew. Tenant shall have no right to renew the Term of this Lease following the expiration of the second renewal term of five (5) years detailed herein.
