Term and Termination of Master Lease and Supplementary Schedules Sample Clauses

Term and Termination of Master Lease and Supplementary Schedules. The term of ------------------------------------------------------------------ this Master Lease shall commence on the date set forth above and shall continue in effect so long as any Supplementary Schedule entered into pursuant to this Master Lease remains in effect. Each Supplementary Schedule shall set forth the term of the lease (the "Initial Lease Term"), the rent for the Leased Items ("Basis Rent"), and any other payment terms. Lessee's obligation to pay Basic Rent for leased Equipment covered by a Supplementary Schedule shall begin on the Acceptance Date, as defined on the Supplementary Schedule. If the Acceptance Date is not the first day of a month, the Basic Rent due for the first partial month shall consist of the regular periodic Basic Rent prorated on the basis of a 30-day month from and including the Acceptance Date to and including the last day of such month, and shall be payable on the first Basic Rent payment date. Basic Rent thereafter shall be for the number of months and in the amount set forth on the Supplementary Schedule. If the installation date of any Leased Item of Equipment precedes the Acceptance Date, Lessee shall pay pro rata Basic Rent based on a 30-day month from and including the installation date to and excluding the Acceptance Date, which amount shall be payable on the first Basic Rent payment date. Lessee or Lessor may terminate the lease as to a Supplementary Schedule, in whole or in part to be effective only at the expiration of the Initial Lease Term or any Renewal or Extension Term, as such terms are hereinafter defined, by giving, the other party three (3) months written notice before such expiration. If three (3) months prior notice of termination is not given, the Initial Term, Renewal Term, or Extension Term as the case may be, shall automatically extend for an additional period of three (3) months (an "Extension Term") on the same terms provided during the Initial Lease Term (Initial Lease Term, Extension Term and Renewal Term are collectively called "Lease Term"). No notice of termination may be revoked without the prior written consent of the other party.
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Related to Term and Termination of Master Lease and Supplementary Schedules

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