Third Extension Term Sample Clauses

Third Extension Term. The annual ground rental shall be increased by Five percent (5%) of the Second Extension Term annual ground rental.

Third Extension Term. The Lease of all the Premises may be extended for another five-year period (the “Third Extension Term”) by unconditional written notice from Tenant to Landlord at least twelve (12) (but not more than eighteen (18)) months before the end of the Second Extension Term (if any). If Tenant does not timely exercise this third extension option, or if on the date of such notice or at the beginning of the Third Extension Term an Event of Default exists, Tenant’s right to extend shall irrevocably lapse, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Second Extension Term. All references to the Term shall mean the Initial Term as it may be extended by the First Extension Term, the Second Extension Term and the Third Extension Term, if any (each, an “Extension Term”). Each Extension Term shall be on all the same terms and conditions applied to the Initial Term except that the Base Rent for each Extension Term shall be as set forth below.

Third Extension Term. Provided that (i) at all times during the Initial Term and the First and Second Extension Terms, Borrower has fully complied with the payment terms of the Note and has not been delinquent with respect to such payment terms, (ii) as of the last day of the Second Extension Term, there exists no Event of Default with respect to any other (including non-monetary) terms and conditions contained in the Note or the other Loan Documents, and (iii) no material adverse change has occurred in the market value of the Property, the Maturity Date shall, at the end of the Second Extension Term, be extended for an additional period of one (1) year (the “Third Extension Term”). Borrower shall not be obligated to pay an extension fee with respect to the Third Extension Term; provided, however, that Borrower shall pay to Lender a processing fee in the amount of $1,500, any reasonable legal fees incurred by Lender in connection with such extension, and the cost of the premium applicable to a title policy endorsement if Lender shall elect to obtain the same in connection with such extension.

Third Extension Term. The Term of Existing Lease shall be extended for the period commencing January 1, 2025 (“Extension Date”) and ending December 31, 2026 (the “Extended Expiration Date”), unless sooner terminated in accordance with the terms of the Lease. That portion of the term of the Lease commencing on the Extension Date and ending on the Extended Expiration Date shall be referred to herein as the “Third Extension Term.” The Third Extension Term shall be upon all the agreements, terms, covenants and conditions of the Existing Lease binding upon Landlord and Tenant except as the same are expressly modified in this Amendment. Landlord shall have no obligation to perform any work or make any contribution to work performed to prepare the Premises for Tenant’s use during the Third Extension Term. The Third Extension Term shall be added to and become part of the Term, and any reference contained in the Lease to "this Lease," to the "Term," the "term of this Lease" or any similar expression shall be deemed to include the Third Extension Term. Tenant shall pay Base Rent during the Third Extension Term as follows: 1/1/2026 – 12/31/2026 $420,787.62 $35,065.63

Third Extension Term. Company hereby agrees to retain the Consultant as an independent contractor to act in a consulting capacity to Company upon the terms and conditions hereinafter set forth, and Consultant hereby agrees to provide such services to Company commencing on the Effective Date and ending on September 30, 2021 (the “Third Extension Term”), unless earlier terminated pursuant to Section 13 of this Third Extension.

Third Extension Term