Renewal Rights. Provided that Tenant shall not then be in default beyond any applicable grace, notice and cure period, and that the original Tenant shall be in occupancy of the entire Premises, Tenant may extend the term of this Lease for one (1) additional option period of five (5) years (hereinafter defined as the “Renewal Term”). Notwithstanding anything to the contrary contained in this Section 2.2, if, on the commencement of the Renewal Term, there shall be an default by Tenant beyond any applicable grace or cure periods, Landlord, in Landlord’s sole and absolute discretion, may elect, by written notice to Tenant, to void Tenant’s exercise of the applicable renewal option, in which case Tenant’s exercise of the applicable renewal option shall be of no force or effect, and the Term shall end of the Expiration Date of the initial Term of this Lease, unless sooner cancelled or terminated pursuant to the provisions of this Lease or by Law. Tenant shall notify Landlord in writing of its election to extend this Lease for the Renewal Term (an “Option Notice”), not less than nine (9) months prior to the Expiration Date of the initial Term, TIME BEING OF THE ESSENCE as to such Option Notice requirement. Tenant’s failure to timely exercise the option hereunder shall cause such right to terminate and be of no further force or effect. The Annual Rent payable during the Renewal Term shall be at ninety-five percent (95%) of “Fair Market Rental Value” (as hereinafter defined). Tenant shall have no further right to extend the term of this Lease beyond the Renewal Term. If Tenant shall extend the term of this Lease pursuant to the provisions of this Section, such extension shall be automatically effected without the execution of any additional documents.
Renewal Rights. Provided no Lessee Event of Default has occurred and remains uncured as of the end of the Current Lease Term, Lessee shall have the right and option (the “Renewal Option”) to extend the term of this Lease with respect to all (but not less than all) of the Leased Property for consecutive renewal terms, each for a length of time equal to five (5) years (each, hereafter referred to as the “Renewal Term”), provided, however, that the maximum aggregate Term shall in no event exceed 99 years.
Renewal Rights shippers with contract terms of thirty-five (35) months or more shall have the right to renew their TA’s for the same volume or a lower volume under their TA at the date of expiry of their TA, without pro ration, at the same receipt point(s), for a minimum of one year, at the then-prevailing toll (prevailing at the time of the election to renew), by providing Transporter with one year’s advance written notice. There is no limitation on the number of times such shippers may exercise this right, provided that where any provision of this Precedent Agreement (including this Section 7(g)) requires that shipper have a contract term of at least thirty-five (35) months or of fifty-nine (59) months, as applicable, the initial term of such shipper's original contract (and not the duration of the renewal term) shall be used for the purpose of applying such provision;
Renewal Rights. A. This Lease may be renewed at the option of the Government for nine (9) additional one-year terms, and the Government shall pay the Lessor annual rental of $ [Insert Amount] (note: also state amount in words) at the rate of $ [Insert Amount] (note: also state amount in words) per calendar month in arrears; provided, written notice is provided to the Lessor at least 30 days before the end of the original Lease term or any extension thereof. In no event shall the Lease term be extended beyond [Insert Day, Month, Year]. All other terms and conditions of this Lease, as same may have been amended, shall remain in full force and effect during any renewal term.
Renewal Rights. Provided no Level 1 Tenant Default has occurred and remains uncured as of the end of the Initial Term, Tenant shall have the right and option (the “Renewal Option”) to extend the term of the Lease with respect to all (but not less than all) of the Leased Property for an initial renewal term equal to the lesser of (i) nine (9) years and (ii) seventy-five percent (75%) of the expected remaining useful life of the Leased Property, as reasonably determined by Landlord in consultation with Tenant and a qualified consultant engineer (the “Renewal Term”). Base Rent during the Renewal Term shall be the Fair Market Rent, determined as set forth below.
Renewal Rights. The Good Xxx Insurance Agency shall own and control all renewal rights and expirations on all Insurance and Insurance Products issued or sold through the Good Xxx Insurance Agency, including to Good Xxx Members or Camping World Customers, and shall have the sole and exclusive right to customer relationships with policyholders of Insurance and Insurance Products contemplated under this Agreement, including Insurance and Insurance Products underwritten, written or issued by the GMACI Carrier. If the GMACI Agency is party to any agency agreement with the GMACI Carrier that is inconsistent with this Section V.4., the GMACI Agency shall assign to the Good Xxx Insurance Agency the renewal rights and expirations contemplated in this Section V.4.
Renewal Rights. Unless the Authority objects in writing within eighteen (18) months of the Term Expiration Date or eighteen (18) months of the expiration of any renewal period, and if no StadCo Event of Default then exists, StadCo will have the option to extend this Agreement for four (4) successive extension terms of five (5) years each, each of which extension terms shall be upon all the same terms and conditions as set forth herein, unless otherwise agreed to by the Parties in a separate agreement, except for the reduction of the number of extension options as a result of each such exercise. If StadCo decides to exercise an extension option, then StadCo must provide written notice to the Authority of such election at least two (2) years prior to the expiration of the initial term or any applicable extension term.
Renewal Rights. Landlord hereby grants to Tenant the conditional right, exercisable at Tenant's option. to renew the term of this Lease for eight (8) successive terms of five (5) years each. If exercised, and if the conditions applicable thereto have been satisfied, the first such renewal term shall commence immediately following the end of the initial Lease Term provided in Sections 1.2 and 3.1 of this Lease and the second renewal term, and each renewal term thereafter, shall commence immediately following the end of the previous renewal term. The rights of renewal herein granted to Tenant shall be subject to, and shall be exercised in accordance with, the following terms and conditions:
Renewal Rights. Unless the Authority objects in writing within twenty-four
Renewal Rights. Upon expiration of the Initial Term set forth above this Order shall automatically renew for successive one (1) year Renewal Terms at the then-current rates. Either party may elect to not enter into a Renewal Term by providing the other party with written notice at least one hundred and twenty (120) days prior to the end of the Initial Term or then-current Renewal Term, as the case may be.