RENEWAL RIGHTS (SEP 2013)‌ Sample Clauses

RENEWAL RIGHTS (SEP 2013)‌. This Lease may be renewed, up to 4 times, at the option of the Government for a term of 6 months each at the following rental rate(s): OPTION TERM 1, MONTHS 7-12 ANNUAL RENT SHELL RENT1 $101,049.85 OPERATING COSTS2 $ 105,192.45 PARKING3 $ 5,460.00 TOTAL ANNUAL RENT $211,702.30 OPTION TERM 2, MONTHS 13-18 ANNUAL RENT SHELL RENT1 $101,049.85 OPERATING COSTS2 $ 105,192.45 PARKING3 $ 5,460.00 TOTAL ANNUAL RENT $211,702.30 OPTION TERM 3, MONTHS 19-24 ANNUAL RENT SHELL RENT1 $101,049.85 OPERATING COSTS2 $ 105,192.45 PARKING3 $ 5,460.00 TOTAL ANNUAL RENT $211,702.30 OPTION TERM 4, MONTHS 25-30 ANNUAL RENT SHELL RENT1 $101,049.85 OPERATING COSTS2 $ 105,192.45 PARKING3 $ 5,460.00 TOTAL ANNUAL RENT $211,702.30 provided notice is given to the Lessor at least 30 days before the end of the original Lease term, 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.
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RENEWAL RIGHTS (SEP 2013)‌. This Lease may be renewed, up to 4 times, at the option of the Government for a term of 6 months each at the following rental rate(s): Option Term 1, Months 7-12 Annual Rent Shell Rent1 $101,049.85 Operating Costs2 $ 105,192.45 Parking3 $ 5,460.00 Total Annual Rent $211,702.30 Option Term 2, Months 13-18 Annual Rent Shell Rent1 $101,049.85 Operating Costs2 $ 105,192.45 Parking3 $ 5,460.00 Total Annual Rent $211,702.30 Option Term 3, Months 19-24 Annual Rent Shell Rent1 $101,049.85 Operating Costs2 $ 105,192.45 Parking3 $ 5,460.00 Total Annual Rent $211,702.30 Option Term 4, Months 25-30 Annual Rent Shell Rent1 $101,049.85 Operating Costs2 $ 105,192.45 Parking3 $ 5,460.00 Total Annual Rent $211,702.30 provided notice is given to the Lessor at least 30 days before the end of the original Lease term, 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.
Sample 1

Related to RENEWAL RIGHTS (SEP 2013)‌

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.

  • Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Commissioner of the Department of Administration and the State Budget Director in compliance with IC § 5-22-17-4. The term of the renewed contract may not be longer than the term of the original Contract.

  • Term and Renewal Options The term of service is 24 months (Initial Term). Following the expiration of the Initial Term, service under this option will continue on a month-to-month basis subject to the terms and conditions, including rates and discounts set forth under this option (Extension Term). The Company or the Customer may elect to forego the Extension Term by providing the other party written notice at least 60 days prior to the expiration of the Initial Term. Either party may terminate service during the Extension Term by providing the other party at least 60 days prior written notice. Term shall mean the Initial Term and the Extension Term.

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • Additional Termination Rights In addition to any right to terminate this Agreement under the provisions of this Section 16, either party shall have the further right to terminate this Agreement, upon delivery of written notice to the Agent, upon the occurrence of any of the following:

  • 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.

  • Effective Term and Termination Rights This Agreement becomes effective when executed by both parties and shall continue in effect until terminated. The Agreement may be terminated in accordance with the following:

  • Renewal Terms Immediately following the Initial Term this Agreement shall automatically renew for successive one-year periods (a “Renewal Term”).

  • Initial Period The Initial Period will begin on the date set forth above and will terminate on the earlier of (i) the Commercial Operation Date, or (ii) the Date the Agreement is terminated pursuant to the provisions of Clause 19.

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