Term Extensions. Following the final calendar day of the Term, as provided under Section 6(c), the Term shall automatically be extended on a month-to-month basis unless and until (i) all Purchase Options have been exercised by Lessee, in accordance with Section 6(e), or (ii) this Lease is otherwise terminated Lessor, in accordance with Section 13; provided, however, that the Monthly Rental Payment for each such renewal period shall be reduced to One & 00/100 U.S. Dollars (U.S. $1.00).
Appears in 4 contracts
Sources: Equipment Lease Agreement (QumulusAI, Inc.), Equipment Lease Agreement (QumulusAI, Inc.), Equipment Lease Agreement (QumulusAI, Inc.)