Renewal Terms Sample Clauses

Renewal Terms. The term of this Master Lease may be extended for five (5) separate “Renewal Terms” of five (5) years each if: (a) at least twelve (12), but not more than eighteen (18), months prior to the end of the then current Term, Tenant delivers to Landlord a Notice that it desires to exercise its right to extend this Master Lease for one (1) Renewal Term (a “Renewal Notice”); and (b) no Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice (the “Exercise Date”) or on the last day of the then current Term. The last day upon which Tenant may provide a Renewal Notice to Landlord hereunder (i.e. the date that is twelve (12) months prior the expiration of the then current Term) is hereinafter referred to as the “Outside Renewal Exercise Date”). During any such Renewal Term, except as otherwise specifically provided for herein, all of the terms and conditions of this Master Lease shall remain in full force and effect. Notwithstanding anything contained herein to the contrary, Landlord acknowledges and agrees that (a) in the event that the Tenant is not permitted to exercise a Renewal Option due to the fact that an Event of Default shall have occurred and be continuing on the Exercise Date and (b) a Permitted Leasehold Mortgagee has elected to cure such Event of Default as effected by a timely given Lender Cure Election Notice, in accordance with Section 17.3(c), then Permitted Leasehold Mortgagee shall be permitted to timely issue to Landlord, on Tenant’s behalf, a Renewal Notice under this Section 1.4; provided however that the time within which Permitted Leasehold Mortgagee shall be required to issue a Renewal Notice to Landlord pursuant to this Section 1.4 shall be tolled (for a period not to exceed six (6) months from the Outside Renewal Exercise Date) during any period in which its ability to issue such Renewal Notice is stayed, enjoined or otherwise prohibited by operation of any applicable Legal Requirement or an order of a court of competent jurisdiction so long as Tenant and such Permitted Leasehold Mortgagee continue to fulfill the requirements of this Lease, including, without limitation, the continued cure of such Event of Default and the payment of all Rent and Additional Charges. Further, if a Renewal Notice is properly and timely given (whether by Tenant or a Permitted Leasehold Mortgagee), then the condition to the effectiveness of the Renewal Notice that there is no Event of Default on the last day of the...

Renewal Terms. This Lease shall automatically renew for an additional period of twelve (12) months per renewal term, unless either party gives written notice of termination no later than 30 days prior to the end of the term or renewal term. The lease terms during any such renewal term shall be the same as those contained in this Lease.

Renewal Terms. At the end of the Initial Term, the Term of Employment automatically shall renew for successive one (1) year terms (subject to earlier termination as provided in Section 6 hereof), unless the Company or the Executive delivers written notice to the other at least three (3) months prior to the Expiration Date of its or his election not to renew the Term of Employment.

Renewal Terms. Immediately following the Initial Term, this Agreement shall renew for successive one (1) year periods (a “Renewal Term”) subject to annual approval of such continuance by the Board, including the approval of a majority of the trustees of the Fund who are not interested persons, as that term is defined in the 1940 Act (the “Independent Trustees”), of the Fund or of Distributor by vote cast in accordance with the 1940 Act or any exemptive relief therefrom at a meeting called for the purpose of voting on such approval.

Renewal Terms. After the Initial Term, this Fee Letter shall automatically renew for successive one-year periods (each a “Renewal Term”) unless Ultimus, the Trust, or the Adviser gives written notice of termination at least 90 days prior to the end of the Initial Term or the then-current Renewal Term.

Renewal Terms. Immediately following the Initial Term, this Fee Letter shall automatically renew for successive one-year periods (each a “Renewal Term”).

Renewal Terms. Immediately following the Initial Term, this Fee Letter shall renew for successive 1-year periods (each a “Renewal Term”) subject to annual approval of such continuance by the Board of the Trust, including the approval of a majority of the Trustees of the Trust who are not interested persons of the Trust or of Distributor by vote cast in person at a meeting called for the purpose of voting on such approval.

Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended for the then applicable Renewal Term. During any such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. Following expiration of the Initial Term, this agreement will automatically renew for 3 successive 10-year renewal periods (for a maximum of 50 years including the Initial Term), unless at least 2 years prior to the commencement of any renewal period either party notifies the other party in writing that it does not wish to renew this agreement.