Right to Renew. 9.1 The Tenant may exercise its option to take the Renewal Lease by serving written notice on the Landlord not less than twelve calendar months' prior to the Term Expiry Date.
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Right to Renew. After the first anniversary of this agreement, this agreement will automatically be renewed unless Advisor is notified in writing at least 30 days prior to the anniversary date. Your payment of fees will constitute a renewal of this contract under the terms of this agreement. Both parties retain the right not to renew.
Right to Renew. Tenant shall have the option to renew the Term of this Lease for one period of five years by notifying Landlord in writing of Tenant's election to exercise its option at least 12 months prior to the expiration of the then current term of this Lease, Tenant may exercise such option provided Tenant is not then in default in the performance of any of the terms or covenants of this Lease as of the time of such exercise and that Tenant has satisfied all of its conditions under this Lease. The base Rent during such five-year renewal period shall be 90% of the then Fair Market Rental Value, as hereinafter defined, and all other terms and provisions of this Lease, including payment of additional Rent, shall apply during such renewal period. Fair Market Rental Value ("FMRV") as used in this Lease shall be the rent calculated at the then prevailing rate for similar space in comparable Class A buildings and the then prevailing parking garage rent for similar totally enclosed parking garages located within the Denver Tech Center/Greenwood Plaza Market Area in which the Building is located. Said FMRV shall be declared by Landlord in writing to Tenant not less than 10 months prior to the end of the Lease Term. Tenant shall have 30 days from the date of Landlord's declaration in which to dispute, in writing, Landlord's finding of FMRV or to revoke the required notice to renew. Failing such timely notice of dispute, Landlord's declared FMRV shall be deemed to be acceptable by both parties. If Tenant gives Landlord timely notice in dispute of Landlord's determination of the FMRV, then Landlord and Tenant shall each designate a licensed commercial real estate broker who shall together designate a third licensed commercial real estate broker, all of whom shall be experienced in evaluating rental properties of the type and in the area of the Building. Within 20 days of Tenant's notice to Landlord, each broker shall deliver to Tenant and Landlord their written estimate of the appropriate FMRV. The new Base Rent shall be equal to the mean average of the three estimates of FMRV calculated by the licensed commercial real estate brokers. Landlord and Tenant shall each pay for the cost of services of the broker designated thereby and shall equally share the cost of the services of the third broker.
Right to Renew. Unless the Facility Assets shall have been sold or disposed of pursuant to this Lease or an Event of Loss shall have occurred or a Default described in clause (a) or (f) of Article XIII or an Event of Default shall exist at the time of giving the notice referred to below or at the commencement of the relevant Renewal Term, Lessee shall have the right to renew this Lease (i) at the end of the Basic Term for the Fixed Price Renewal Term and (ii) at the end of the Basic Term or the Fixed Price Renewal Term, if elected, or a Fair Market Renewal Term, if elected, for a Fair Market Renewal Term. In order to exercise any such right, Lessee shall notify each Lessor Party thereof in writing not more than 12 month nor less than 6 months prior to the commencement of the relevant Renewal Term, which notice shall be irrevocable and shall specify the type of renewal term elected in accordance with this Section 4.01(a) and the duration thereof (which shall be an integral multiple of six months, shall not end after the end of the Ground Lease Term and, in the case of a Fair Market Renewal Term, shall be at least one year and not more than five years or, in the case of the Fixed Price Renewal Term, shall be, subject to Section 4.01(c), at least one year and not more than 50% of the Basic Term). If Lessee shall fail to renew this Lease as provided above, Lessor shall, subject to Section 4.02, be free to lease or dispose of all or any part of the Facility to any other Person on any terms acceptable to Owner Participant.
Right to Renew. Unless the License has been terminated prior to the expiration of its Initial Term, or Licensor has given Licensee notice of its intention not to renew the License as permitted under this Section, the License may be renewed at the option of Licensee for two (2) additional periods of five (5) years each beyond the initial Term (the "Renewal Terms"; the Initial Term and the Renewal Terms are collectively referred to herein as the "Term" of this Agreement), provided that at the end of the Initial Term and the first Renewal Term, Licensee shall have complied with the conditions set forth in Section 12.3 (hereafter the "Conditions of Renewal"). If renewed, the first Renewal Term will commence on the day immediately following the last day of the Initial Term and if further renewed, the second Renewal Term will commence on the day immediately following the last day of the first Renewal Term.
Right to Renew. The Term of this Agreement may be renewed by written agreement of APPI and Ambar. Nothing contained herein shall be deemed to create any express or implied obligation on the part of either party to renew or extend this Agreement; however, the undersigned parties agree, in six months from the date hereof, to evaluate the success of this Agreement and may negotiate, in good faith, a potential five year extension of this Agreement with terms to be agreed upon. Each party in its sole discretion shall have the right to determine, for any reason whatsoever, not to renew, continue or extend this Agreement.
Right to Renew. Thereafter, this Agreement may be renewed for such periods of time and under such terms and conditions as are mutually agreed to in writing and pursuant to Section 12.7.
Right to Renew. The terms of this Agreement shall be automatically renewed for similar periods (five years each time) unless one of the parties notifies the other in accordance with Section 15 of this Agreement of its intention not to renew the Agreement, at least six months prior to the date of expiration. This notice shall not cause forfeiture of the rights of either of the two parties hereto vis a vis each other. Each party in its sole discretion shall have the right to determine, for any reason whatsoever, not to renew, continue or extend this Agreement.
Right to Renew. For Account(s) located in the State of Ohio, if you are a Small Commercial Customer, you also acknowledge and agree that if for any reason you fail to renew this Agreement and/or if any Account(s) remain designated at the UDC as being served by us, we may continue to serve your Account(s) on a month-to-month basis at the Holdover Rate described in the Term Section above, even though such Holdover Rate is a change in your price under this Agreement.
