Third Extended Term definition

Third Extended Term. If $500,000 cumulatively has been paid to Producer during the Initial, and First through Third Extended Term, then Distributor may extend the term for another two years (the Fourth Extended Term).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Third Extended Term shall have the meaning set forth in Section 6.01(a).

Third Extended Term is inserted in place of reference to the “Second Extended Term” in the Option to Extend, and amended, and (ii) the Expiration Date shall mean the Expiration Date of the Third Extended Term.

Examples of Third Extended Term in a sentence

Tenant shall pay Landlord Base Rent for the Term in advance in consecutive monthly installments payable on the first day of each month during the Term, the Extended Term, Second Extended Term and the Third Extended Term, commencing on the Commencement Date, in accordance with the Base Rent Schedule attached hereto as Exhibit D.
Tenant shall pay Landlord Base Rent for the Term in advance in consecutive monthly installments payable on the first day of each month during the Term, the Extended Term, Second Extended Term and the Third Extended Term, commencing on the Commencement Date provided for in Section 1.03 of the Master Agreement, in accordance with the Base Rent Schedule attached hereto as Exhibit B.
Tenant's right to so extend the Term of the Lease is conditioned on Landlord's prior approval of the Extended Term, Second Extended Term, or Third Extended Term, as the case may be.
The term "Term" used in this Agreement means the Fixed Term, Extended Term, Second Extended Term and Third Extended Term, as appropriate.
The Reduced Security Deposit shall be held by Landlord for the duration of the Third Extended Term as security for Tenant’s obligations under the Lease and shall expire at least sixty (60) days following the Extended Termination Date set forth herein.
In the event Tenant fails to execute said written documentation confirming said new terms and conditions and Basic Rent for the Third Extended Term of Lease within said five (5) day period, Tenant shall have no further Option to Extend this Lease, and this Lease shall continue in full force and effect for the full remaining term hereof absent of this Paragraph 2.B, with Landlord having no further responsibility or obligation to Tenant with respect to Tenant’s Option to Extend.
For greater certainty, Annual Rent during each year of the Third Extended Term shall be the effective fair market rent for the Premises as of the commencement of the Third Extended Term, when compared to premises of similar size, quality and location in office buildings of a similar size, quality and location in the Greater Vancouver Regional District, as if the Premises arc unimproved.
Further, provided that no Event of Default shall exist, the Term of this Agreement shall be automatically further extended for a third renewal term of five (5) years (the "Third Extended Term") unless Tenant shall give Landlord Notice, in the Tenant's sole and absolute discretion, not later than eighteen (18) months prior to the scheduled expiration of the Second Extended Term, that Tenant elects not to so further extend the Term of this Agreement.
Tenant shall have the right and option to extend the term of this Lease for four (4) additional terms of five (5) years each following the Third Extended Term, provided that there is no uncured event of default of Tenant hereunder at the end of the Third Extended Term and at end of each succeeding extended term.
The First Extended Term, Second Extended Term and Third Extended Term are hereinafter individually and collectively referred to as the "Extended Term".

More Definitions of Third Extended Term

Third Extended Term means a period of five (5) years commencing upon the expiration of the Second Extended Term.

Third Extended Term means a five (5) year option to extend the Term (as further described in Article 4.0(b) below) commencing on December 1, 2026 and continuing through November 30, 2031.

Third Extended Term as defined in Section 2.2. Third Extended Term Required DSC Amount - as defined in Section 10.2.1. Tri-Party Agreement - that certain Tri-Party Agreement among Tenant, Hotel Manager and Agent, on behalf of itself and the other Lenders, dated of even date herewith. UCC - as applicable, the Uniform Commercial Code as in effect from time to time in the Commonwealth of Massachusetts or any other jurisdiction whose Laws govern the creation, attachment, perfection or priority of any security interest (including, for this purpose, any collateral assignment or lien) granted or purported to be granted to or for the benefit of Agent or any Lender pursuant to the Loan Documents, including (but not limited to) any jurisdiction where Borrower or any of the Collateral is deemed located. UCC Financing Statements – collectively, all financing statements under the UCC filed or recorded from time to time by or for the benefit of Agent or any Lender in connection with the Loan.