Common use of Second Renewal Term Clause in Contracts

Second Renewal Term. If this Lease shall be in force and effect and there shall be no Event of Default on the date for the expiration of the First Renewal Term, and provided the Renewal Conditions have been satisfied to the reasonable satisfaction of Landlord, Tenant shall be entitled to a renewal of the term of this Lease for a period of fifteen (15) years beginning immediately upon the expiration of the First Renewal Term (the “Second Renewal Term”). The Second Renewal Term shall be upon the same terms, conditions and covenants contained herein for the Initial Term and the First Renewal Term, except as to the annual rent payable by Tenant to Landlord during the Second Renewal Term. The annual rent payable by Tenant to Landlord during the Second Renewal Term for the lease of the Premises and the Improvements shall be determined in accordance with Section 3 hereof, in the same way Section 3 applies to the First Renewal Term.

Second Renewal Term. If this Lease shall be in force and effect and there shall be no Event of Default on the date for the expiration of the First Renewal Term, and provided the Renewal Conditions have been satisfied to the reasonable satisfaction of Landlord, Tenant shall be entitled to a renewal of the term of this Lease for a period of fifteen (15) years beginning immediately upon the expiration of the First Renewal Term (the “Second Renewal Term”). The Second Renewal Term shall be upon the same terms, conditions and covenants contained herein for the Initial Term and the First Renewal Term, except as to the annual rent payable by Tenant to Landlord during the Second Renewal Term. , The annual rent payable by Tenant to Landlord during the Second Renewal Term for the lease of the Premises and the Improvements shall be determined in accordance with Section 3 hereof, in the same way Section 3 applies to the First Renewal Term.

Second Renewal Term. If this Lease shall be in force and effect and there shall be no Event of Default on the date for the expiration of the First Renewal Term, and provided the Renewal Conditions have been satisfied to the reasonable satisfaction of Landlord, Tenant shall be entitled to a renewal of the term of this Lease for a period of fifteen (15) years beginning immediately upon the expiration of the First Renewal Term (the “Second Renewal Term”). The Second Renewal Term shall be upon the same terms, conditions and covenants contained herein for the Initial Term and the First Renewal Term, except as to the annual rent payable by Tenant to Landlord during the Second Renewal Term. The annual rent payable by Tenant to Landlord during the Second Renewal Term for the lease of the Premises and the Improvements shall be determined in accordance with Section 3 hereof, in the same way Section 3 applies to the First Renewal Term.