One Year Extension definition
Examples of One Year Extension in a sentence
In the event of holding over by Tenant after expiration or termination of this Lease without the written consent of Landlord, Tenant shall pay Base Rent in an amount equal to one hundred and fifty percent (150%) of the Base Rent in effect on the last month of the initial Term or One Year Extension or Two Month Extension as applicable together with one hundred percent (100%) of all Additional Rent.
For each One Year Extension, the Company agrees to pay an extension fee of *** to the Practice, which will be paid with the delivery of each Extension Notice.
Tenant shall not be liable for consequential damages sustained by Landlord on account of such holding over provided such Holdover does not continue for a period of more than sixty (60) days after the expiration of the Term, One Year Extension or Two Month Extension as applicable.
The following Sections (and any corresponding sub-Sections) of this Seventh Amendment shall have no applicability during the One Year Extension Term: Sections 3, 4.2, 4.3, 5.2, 5.3, 5.4, 5.5, 6, 7, 8, 9, 12, 13, 14, 17, 18, 19, and 20; and Exhibits B, C, D and E.
The Lease Term shall be extended and shall expire (unless sooner terminated as provided in the Lease, as hereby amended) on the last day of the One Year Extension Term.
The foregoing License Fees payable by Licensee relative to the One Year Short tern Extension Premises during the One Year Extension Term shall be paid at such place and in accordance with such provisions as otherwise applicable to the payment of License Fees under the License Agreement.
Sublessee shall have a series of options to extend the term of this Sublease for a period of one year each ("One Year Extensions"), and each such option for a One Year Extension may be exercised by Sublessee throughout the "Initial Lease Term" as defined in the Master Lease.
The Customer is eligible for the following promotion as set forth in the Guide: On the Network V Lit Building Access Promotion Initial Term: 24 months One Year Extension: Customer may extend the Term for a one-year period following the expiration of the Initial Term by providing Company with written notice at least 30 days prior to the expiration of the Initial Term (each one-year period, a “one Year Extended Term”).
The Authority shall have an option exercisable in accordance with the provisions of Clause 1.3.2.2 to require that this Contract is extended on the same terms and conditions for a further period of up to two (2) years beyond the Initial Period with such option being divided into two (2) one (1) year consecutive periods (each being a One Year Extension).
Each such option to extend the Sublease term for a One Year Extension shall be exercised by Sublessee's delivery of written notice thereof to Sublessor at least thirty (30) days prior to the expiration of the then current term of this Sublease, as the same may have been previously extended; provided that no default or event of default then exists under this Sublease on the part of Sublessee.