Renewal of the Term. (a) Tenant shall have the options (each a “Renewal Option” and, collectively, the “Renewal Options”) to extend the Term of this Lease for two (2) consecutive periods of five (5) years each (each such period being referred to as a “Renewal Term”). Tenant must furnish Landlord with written notice (the “Intent Notice”) of its intent to exercise the applicable Renewal Option no earlier than eighteen (18) months and no later than twelve (12) months prior to the scheduled expiration of the then-existing Term. Tenant shall have the right in the Intent Notice to exercise both five (5) Renewal Options simultaneously, resulting in one (1) Renewal Term of ten (10) years. Tenant may elect to renew this Lease for less than all of the Premises, but not less than fifty percent (50%) of the Building Square Footage, provided, however, that in order for a partial renewal to be effective, (i) Tenant must renew the Lease as to full floors, only (i.e., Tenant may not elect to surrender a portion of a floor of the Building in connection with a renewal of less than all of the Premises), (ii) other than the Lab Space (which shall, in any event, be included with the Premises in connection with any partial renewal of the Term), the space which Tenant designates for renewal in its Intent Notice must be located on contiguous floors, (iii) the floors to be leased by Tenant shall commence on the floor immediately above the Lab Space and move upwards in the Building before any floors below the Lab Space may be leased by Tenant, and (iv) Tenant shall pay all Conversion Costs. Any election by Tenant to renew the Lease for less than all of the Premises must be specified in the Intent Notice and must include the specific floors to be leased by Tenant during the Renewal Term.
Renewal of the Term. (a) Except as otherwise provided in Section 13, Tenant may renew the Term for two successive renewal terms (“Renewal Terms”) of 60 months each from and after the Expiration Date as extended pursuant to Section 13(c) hereof so long as this Lease is in full force and effect and Tenant is not in default beyond all applicable grace, notice and cure periods in respect of the performance of any obligation it undertakes under the terms of this Lease both at the time that Tenant exercises each renewal option and at the time the Renewal Terms commence. Tenant will exercise each renewal option, if at all, by delivering written notice (the “Option Notice”) to Landlord not less than 12 months prior to the Expiration Date. The provisions of this Lease will govern the relationship between the parties during each Renewal Term, except that the Base Rent for each Renewal Term will be determined as provided below.
Renewal of the Term. (a) Except as otherwise provided in Section 12, Tenant may renew the Term for two successive renewal terms (Renewal Terms) of 60 months each so long as this Lease is in full force and effect and Tenant is not in default beyond all applicable grace, notice and cure periods in respect of the performance of any obligation it undertakes under the terms of this Lease both at the time that Tenant exercises each renewal option and at the time the Renewal Terms commence. Tenant will exercise each renewal option, if at all, by delivering written notice (the Option Notice) to Landlord not less than two hundred seventy (270) days prior to the Expiration Date. The provisions of this Lease will govern the relationship between the parties during each Renewal Term, except that the Base Rent for each Renewal Term will be determined as provided below.
Renewal of the Term. (a) With respect to all the Markets except the Direct Markets, at any time one year before the end of the applicable Term, Zimmxx xxx Linvatec shall negotiate in good faith the renewal term (the "Renewal Term") for this Agreement and any modifications to the transfer prices (the "New Transfer Prices") set forth in this Agreement. If the parties hereto do not reach agreement on the Renewal Term and the New Transfer Prices on or prior to the date one year before the end of the applicable Term, this Agreement shall automatically expire upon the end of the applicable Term.
Renewal of the Term. Upon expiry of the Term, the Term will be automatically renewed on the same terms as this Agreement, each time for a period of three years subject to the termination or non-renewal of this Agreement in accordance with Clause 3.
Renewal of the Term. (a) Tenant may renew the Term for two successive 5-year renewal terms (“Renewal Terms”) so long as this Lease is in full force and effect and Tenant is not in default beyond all applicable grace, notice and cure periods in respect of the performance of any obligation it undertakes under the terms of this Lease both at the time that Tenant exercises such renewal option and at the time such Renewal Term commences. Tenant will exercise each renewal option, if at all, by delivering written notice (the “Option Notice”) to Landlord not less than 12 months prior to the Expiration Date of the current Term. The provisions of this Lease will govern the relationship between the parties during each Renewal Term, except that the Base Rent for each Renewal Term will be determined as provided below.
Renewal of the Term. (a) The Lessee may, at its option, by notice in writing, notify the Lessor not less than [●] days prior to the expiry of the Initial Term of its desire to renew or extend the initial Term for a further period as specified in the aforesaid notice (“Renewed Term”) for the purpose of continuing the operation of the Project.
