ROLL OVER TERM Sample Clauses
A Roll Over Term clause defines the conditions under which an agreement automatically renews for an additional period at the end of its initial term. Typically, this clause specifies the length of each renewal period and any notice requirements for either party to prevent automatic renewal, such as providing written notice a certain number of days before the current term expires. Its core practical function is to ensure continuity of the contractual relationship unless one party actively opts out, thereby preventing accidental lapses in service or obligations.
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ROLL OVER TERM. Unless Tenant notifies Landlord more than six (6) months prior to the expiration of the initial term, that it does not desire to extend the term of this Lease for a Roll Over Term, (as defined herein) the term of this Lease will automatically extend for an additional term of five (5) years (the "Roll Over Term"). The Roll Over Term shall be on the same terms and conditions set forth in this Lease except that the monthly rental for the Roll Over Term shall be determined pursuant to the following formulas: Monthly rental for the Roll Over Term shall equal $20,826.71 times a fraction the numerator of which is the CPI in effect on February 1, 1999 plus 75% of the amount by which the CPI in effect on the expiration of the initial term exceeds the CPI for February 1, 1999 and the denominator of which is the CPI for February 1, 1999. Notwithstanding the result of the above calculation, the monthly rental for the Roll over Term shall not be less than $21,900.25. The CPI, as referred to herein, means the Consumer Price Index for all Urban Consumers 1993-95=100 relating to the United States City Average for All Items, as issued by the Bureau of Labor Statistics of the United States Department of Labor, or any successor to the function thereof. In the event of the conversion of the CPI to a different standard reference base or any other revision thereof, the determination hereunder shall be made with the use of such Bureau of Labor Statistics or successor to the functions thereof or in the absence of the publication of such conversion factor, such formula or table as the parties shall mutually designate. Notwithstanding the above, if PJ Food Service Inc., itself is not in full possession of the Leased Premises at the commencement of the Roll Over Term, Landlord may, at its option, terminate this Lease as of the last day of the initial term.