Option to Renew definition

Option to Renew means a contract clause that allows a party to reinstate the contract for an additional term.
Option to Renew means the Tenant’s option to renew this Lease, if applicable, as set out in Paragraph 1(e)(iii), subject always to Section 3.2.

Examples of Option to Renew in a sentence

To exercise the above noted Option to Renew, Tenant must indicate in writing its intent to exercise the option no later than (date) .

Approval of an Audit Committee Recommendation to Award a Contract with Baker Tilly US LLP to Provide Audit Services for Fiscal Years 2021 through 2023, With an Option to Renew the Agreement for Two Additional Years.

Any price updates for these services are subject to the "Option to Renew" clause and the "Price Lists" clause.

If the Tenant will have an option to renew this Lease, refer to the Model Commercial Lease: Option to Renew clause (MCL-LEASECLAUSE-06) and include a cross-reference to the new clause here.

By written notice, the City may confirm the renewal sublease for the First Renewal Term; provided that such notice by the City is not a requirement to the valid exercise by the Society of such option to renew.19.2 Second Option to Renew.