Term of Lease; Extension Sample Clauses

Term of Lease; Extension. The term of this Lease Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term or the Extension Period (“Term”). Lessee has no right to cancel or terminate this Lease prior to the Expiration of the Minimum Lease Term. Acceptance of Equipment returned to Lessor prior to expiration of the Minimum Lease Term, or any Extension Period does not constitute a release of Lessee’s rental obligations. If Lessee nonetheless prematurely terminates this Lease, Lessee unconditionally agrees to pay a termination/cancellation fee equal to the remaining payments for the unfulfilled Minimum Lease Term, any applicable charges for services or modifications performed by Lessor to make the Equipment ready for Lessee’s use, and any applicable charges related to Ancillary Products, plus the Final Return Charges. Lessor reserves the right to charge fuel surcharges at its discretion. At the time of return of the Equipment, Lessee shall be responsible for any Final Return Charges including, but not limited to, dismantle, return freight charges, knockdown, or fuel surcharges, charged at Lessor's then prevailing rate at the time of surrender; provided however, that Lessee acknowledges that Lessor has the right to require Lessee to prepay the rental for the last month and return freight and knockdown charges. Lessee acknowledges and agrees that any Final Return Charges quoted to Lessee for dismantle, return freight, knockdown, or fuel charges are estimates only and such Final Return Charges shall be charged at Lessor’s prevailing market rates at the time of return. At the end of the Minimum Lease Term, this Lease Agreement is automatically extended on a month-to-month basis on the same terms and conditions until the Equipment is returned to Lessor (the “Extension Period”); except that Lessee’s rental rate shall be automatically adjusted to Lessor’s then prevailing renewal rental rate and Lessor can change or increase any other fee due under the Lease Agreement. After the end of the Minimum Term, either party can terminate this Lease Agreement on thirty (30) days written notice.
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Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (‘Term’) or the Extension Period (as herein defined). At the end of the Term, this Agreement is extended on a month-to-month basis until the Equipment is returned to Lessor (the ‘Extension Period’). During the Extension Period, Lessor has the right to, on thirty (30) days notice, increase the Rate Per Month and/or the dismantle and return freight charges to Lessor’s then prevailing rate. After the end of the Term, either party can terminate this Agreement on thirty (30) days written notice. Lessee shall have no right to cancel or terminate this Agreement during the Term.
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment, and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (as herein defined). Final Return Charges including but not limited to dismantle and return freight charges are estimated and will be charged at Lessor's then prevailing rate at time of return for any Term greater than twelve
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment, and ends on the last day of the Minimum Lease Term (‘Term’) or the Extension Period (as herein defined). At the end of the Term, this Agreement is extended on a month-to-month basis until the Equipment is returned to Lessor (the ‘Extension Period’). During the Extension Period, Lessor has the right to, on thirty
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment, and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (as herein defined). Final Return Charges including but not limited to dismantle and return freight charges are estimated and will be charged at Lessor's then prevailing rate at time of return for any Term greater than twelve (12) months. At the end of the Term, this Agreement is extended on a month- to-month basis until the Equipment is returned to Lessor (the “Extension Period”). During the Extension Period, Lessor has the right to, on thirty
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (‘Term’), or if applicable, the last day of the Extension Period (as herein defined). At the end of the Term, this Agreement is extended on a month-to-month basis until the Equipment is returned to Lessor (the ‘Extension Period’). During the Extension Period, Lessor has the right to, on thirty (30) days written notice, increase the Rate Per Month and/or the knockdown and return freight charges to Xxxxxx’s then prevailing rate. After the end of the Term, either party can terminate this Agreement on thirty (30) days written notice. Lessee shall have no right to cancel or terminate this Agreement during the Term. Lessee has no right to cancel or terminate this Agreement prior to delivery of Equipment unless agreed in writing by the Parties (and subject to cancelation fee).
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment, and ends on the last day of the Minimum Lease Term (“Term”) or the Extension Period (as herein defined). Final Return Charges including but not limited to dismantle and return freight charges are estimated and will be charged at Lessor's then prevailing rate at time of return for any Term greater than twelve (12) months. At the end of the Term, this Agreement is extended on a month-to-month basis until the Equipment is returned to Lessor (the “Extension Period”). During the Extension Period, Lessor has the right to, on thirty (30) days notice, increase the Rate Per Month to Lessor’s then prevailing rate. After the end of the Term, either party can terminate this Agreement on thirty (30) days written notice. Lessee shall have no right to cancel or terminate this Agreement during the Term.
Sample 1
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Term of Lease; Extension. The existing Lease Agreement between the City of Lancaster and Hawks Nest LLC dated August 14, 1995, and thereafter extended through 2010, is hereby amended for 2010 and extended for a period of five (5) years through 2015, unless earlier terminated as provided. The Tenant and City shall further have the mutual option to renew this Lease for an additional five (5) year period through September 30, 2020 under the same conditions.
Sample 1
Term of Lease; Extension. The term of this Agreement begins on the date of delivery of the Equipment and ends on the last day of the Minimum Lease Term (“Term”), or if applicable, the last day of the Extension Period (as herein defined). At the end of the Term, this Agreement is extended on a month-to-month basis until the Equipment is returned to Lessor (the “Extension Period’”). During the Extension Period, Lessor has the right, on thirty (30) days written notice, to adjust the lease rate to Lessor’s then prevailing rate. Lessee shall provide thirty (30) days written notice to Lessor to arrange for dismantle and return of Equipment. Lessee shall have no right to terminate this Agreement during the Term. Canceling a Lease Agreement prior to delivery of Equipment is subject to cancelation fee in the amount equal to the expenses of Lessor incurred to the date of cancellation relative to the Agreement.
Sample 1

Related to Term of Lease; Extension

  • TERM OF LEASE This Lease shall commence on the date of ________ and shall continue until its natural termination under this part on the date of ________ at 11:59 PM. After the date of termination, this Lease shall automatically renew and shall continue for the same term amount until Landlord or Tenant undertake cancellation of this Lease in writing. At the expiration of this Lease, Tenant shall be responsible for providing a forwarding address to Landlord to receive any funds owed or other notices.

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.

  • Extension Term Provided Lessee is not in default in the performance of any term or condition of this Lease, Lessee shall have the option to extend this Lease for two (2) additional terms of five (5) years per term, commencing with the expiration of the first or additional term, upon the following conditions:

  • TERM OF AGREEMENT AND RENEWAL The Agreement shall remain in effect from the date of execution hereof through the expiration of a one year period, and may be renewed upon the mutual consent of the Parties.

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

  • Termination of Lease Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.

  • Term of Agreement and Renewals The Agreement with TIPS is for approximately three (3) years with an option for renewal for an additional one

  • Lease Term The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

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