Fixed Rate Renewal Term definition

Fixed Rate Renewal Term has the meaning assigned thereto in Section 22.4 of the Lease.
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Fixed Rate Renewal Term means a six-month period following the end of the Base Lease Term and with respect to which Lessee shall have exercised its option pursuant to Section 18.1 hereof.
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Fixed Rate Renewal Term shall have the meanings set forth in Section 12 of the Facility Lease. FNB shall mean The First National Bank of Boston, in its individual capacity, and its successors and assigns. 6091.XXXXXXX.1106.55:1
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Examples of Fixed Rate Renewal Term in a sentence

  • Each Fixed Rate Renewal Term shall commence immediately upon the expiration of the Basic Term or the preceding Fixed Rate Renewal Term, as the case may be.

  • If the notice specified in clause (ii) of the preceding sentence is given, then not later than 18 months prior to the expiration date of the Basic Lease Term, the Lessee will give the Lessor written notice of its election to exercise either (x) the purchase option permitted by Section 13(c), (y) the option to renew this Facility Lease for the Fixed Rate Renewal Term or (z) the option to renew this Facility Lease for the Fair Market Renewal Term.

  • The arbitration award shall be final and binding upon the parties and may be submitted to any court having jurisdiction to be confirmed and judgment on it may be entered and enforced.

  • Stipulated Loss Value amounts that are payable during any such Renewal Term shall be calculated as of the date of commencement of such Renewal Term and shall be determined in the same manner referred to above based on the fair market sales value of the Aircraft on such date determined in accordance with Section 18.2(a); provided, that the Stipulated Loss Value payable during any Fixed Rate Renewal Term shall not be less than 20% of Lessor's Cost.

  • If Lessee selects a Fixed Rate Renewal Term such that the period following such term until the Outside Fixed Renewal Date is longer than one year, then Lessee may elect one or more further renewals of one or more years pursuant to this Section 22.4(a) so long as no such term extends beyond the Outside Fixed Renewal Date.

  • During any Renewal Term, the Stipulated Loss Value and Termination Value of any Unit shall be determined on the basis of the Fair Market Sales Value of such Unit as of the first day of such Renewal Term, reduced in equal monthly increments to the Fair Market Sales Value of such Unit as of the last day of such Renewal Term; provided that in no event during any Fixed Rate Renewal Term shall the Stipulated Loss Value and Termination Value of any Unit be less than 20% of the Equipment Cost of such Unit.

  • The Fair Market Renewal Term shall commence immediately upon the expiration of the Basic Term or the preceding Fixed Rate Renewal Term or Fair Market Renewal Term, as the case may be.

  • Lessee shall give Lessor written notice not less than 90 days prior to the end of the Basic Term, the Fixed Rate Renewal Term or the Fair Market Renewal Term, as the case may be, of its election to exercise the purchase option provided for in this Section 22.3 (but in any event subject to the minimum number of Units referred to in Section 22.2), which notice shall be irrevocable.

  • Renewal Term shall mean the Fixed Rate Renewal Term as provided in Section 12 of the Facility Lease.

  • The Renewal Rent payable for the Fixed Rate Renewal Term hereunder shall be the lesser of (i) 50% of the average Basic Rent and (ii) the fair market rental value of the Aircraft (as defined below) calculated as of the commencement of such Renewal Term; the Renewal Rent payable for any Floating Rate Renewal Term hereunder shall be the fair market rental value of the Aircraft (as defined below) calculated as of the commencement of such Renewal Term.


More Definitions of Fixed Rate Renewal Term

Fixed Rate Renewal Term shall have the meaning given such term in Section 5.1 of the Lease.
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Fixed Rate Renewal Term as defined in Section 12(a) of the Facility Lease.
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Related to Fixed Rate Renewal Term

  • Renewal Term has the meaning set forth in Section 2.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Extension Term means the time period defined in §2.C.

  • Original Term shall have the meaning specified in Section 10 hereof.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Extended Term shall have the meaning set forth in Section 2.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Initial Term has the meaning set forth in Section 7.1.

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Fixed Rate Term means a period commencing on a Business Day and continuing for 1, 2 or 3 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than $100,000.00; and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day.

  • Additional Term means that term commencing on the last day of the Basic Term and terminating 5 years thereafter.

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Base Term Commencing (i) with respect to the Existing Premises on the Commencement Date, (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date and (iii) with respect to the Second Expansion Premises on the Second Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 16, 2016 (“Expiration Date”).”

  • Extension Period has the meaning set forth in Section 2.11.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

  • Basic Term shall have the meaning specified in Section 2.2 of the Lease.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Fixed Rate Period Remaining Life means, with respect to any Debenture, the period from the Special Redemption Date for such Debenture to the Interest Payment Date in December 2010.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Pricing Rate Period means, with respect to any Transaction and any Remittance Date (a) in the case of the first Pricing Rate Period, the period commencing on and including the Purchase Date for such Transaction and ending on and excluding the following Remittance Date, and (b) in the case of any subsequent Pricing Rate Period, the period commencing on and including the immediately preceding Remittance Date and ending on and excluding such Remittance Date; provided, however, that in no event shall any Pricing Rate Period for a Purchased Asset end subsequent to the Repurchase Date for such Purchased Asset.

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.