Common use of TERM; AUTOMATIC EXTENSION Clause in Contracts

TERM; AUTOMATIC EXTENSION. The term (initial period of occupancy) of this lease shall be one (1) year, as set forth below, commencing March 1, 2005, and terminating on February 28, 2006, unless automatically extended. This Lease will automatically renew for as many as two (2) consecutive one (1) year periods, unless written notice to the contrary is received, from Tenant to Landlord, not less than three (3) months prior to the scheduled termination date (i.e., no later than November 30, 2005 as to the first scheduled termination date and no later than November 30, 2006 as to the second scheduled termination date.). The Base Rental Rate for such extended period(s) shall be equal to the then current Base Rent amount, plus Adjustments in Base Rent and Increases in Operating Expenses, as set forth below.