Third Extended Term Sample Clauses

Third Extended Term. The annual Base Rent for the Third Extended Term, shall be an amount equal to the greater of (1) the Market Rent for the Premises for the Third Extended Term and (2) the product of (A) the annual Base Rent in effect on the last day of the Second Extended Term and (B) the greater of (x) 1.03 and (y) the lesser of (aa) 1.06 and (bb) the average annual percentage increase, if any, in the CPI between the month preceding the commencement of the Second Extended Period and the preceding the commencement of month of the Third Extended Period. If the annual Base Rent for any period described above cannot be determined as of the first day of such period, then until such amount is determined, Tenant shall pay Base Rent at the minimum rate set forth for such period (or, in the case of the Base Rent as of Commencement Date, assuming the Fixed Rental Rate was $13.60). When the actual annual Base Rent is determined, Landlord shall notify Tenant in writing of such amount within thirty (30) days thereafter and Tenant, in the case of an underpayment, shall pay to Landlord any additional Base Rent due for the portion of such period prior to the date of such payment, or Landlord, in the case of an overpayment, shall pay to Tenant the amount of such overpayment. If Tenant exercises its option to extend the Term for an Extended Term, then within thirty (30) days after receipt of Tenant's notice exercising the Extension Option (or, if later, eight (8) months prior to the end of the then Term), Landlord shall notify Tenant of its determination of the Market Rent for the Extended Term in question. If the Market Rent determined by Landlord is greater than the Base Rent determined pursuant to clause (2) of paragraphs (a)(v), (vi) or (vii) above, as the case may be, then within thirty (30) days after receipt of Landlord's notice of the Market Rent, Tenant shall elect in a written notice ("Tenant's Rent Determination Notice"), delivered to Landlord either (i) to accept Landlord's determination of the Market Rent or (ii) to have the Market Rent determined by appraisal pursuant to paragraph (c) below, in which event Tenant shall also set forth its determination of the Market Rent. If Tenant fails to timely deliver such notice, Tenant will be deemed to have accepted Landlord's determination of the Market Rent.
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Third Extended Term. The term of the Ambulance Service Agreement dated June 26, 2013, between the City and TLC shall be extended for a third term commencing upon April 1, 2019, and terminating on December 31, 2019.
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Third Extended Term. In the case of the third Extended Term, (i) Tenant shall have no further option to extend the Term pursuant to Section 43.1, (ii) the Fixed Rent for the first Lease year of such Extended Term shall be the greater of the Fixed Rent for the immediately prior Lease Year and the Fair Market Rental of the Premises (as determined in accordance with Section 43.3 hereof), and (iii) the Fixed Rent for each subsequent Lease Year of the third Extended Term shall increase in accordance with the escalation provisions set forth in Section 3.1.2 of this Lease.
Sample 1
Third Extended Term. Provided Tenant exercises its option for the Second Extended Term, Tenant is given the additional option to extend the Second Extended Term for an additional period of five (5) years (the "Third Extended Term") following expiration of the Second Extended Term, by giving Landlord an Option Notice no later than one hundred eighty (180) days, nor sooner than three hundred sixty (360) days, before expiration of the Second Extended Term.
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Third Extended Term. Subject to the terms and conditions set forth in paragraph 49.4, Lessee shall have the option to extend the term of the Lease for an additional five (5) years commencing on the expiration of the Second Extended Term (herein referred to as the "Third Extended Term") by giving notice to Lessor of its election so to extend such term on or prior to March 1, 2007.
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Third Extended Term. Between October 1, 2005 and up to and including March 30, 2006 (the “Third Extended Term”), Innogenetics may terminate this Agreement at any time, by providing three months prior written notice. The Parties hereto further agree, as follows:
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Third Extended Term a) Provided no Event of Default under this Lease has occurred and is continuing, Tenant shall have the right and option, exercisable by giving Landlord written notice thereof at least six (6) months prior to the expiration of the Second Extended Term, to extend the Term for an additional period of three (3) years (the “Third Extended Term”) and, upon the giving of such notice, this Lease shall automatically be extended for such three (3) year period. The Third Extended Term shall be upon the same covenants, agreements, provisions, terms and conditions as the Second Extended Term except that the Base Rent for the Third Extended Term shall be at the then market rent of the Premises as determined in Section 7(b) below, except there shall be no further right to extend. In the event that Tenant fails to give such notice to Landlord as herein provided, this Lease shall automatically terminate at the end of the Second Extended Term and Tenant shall have no further right or option to extend this Lease. Upon the determination of the Base Rent for the Third Extended Term, Landlord and Tenant shall enter into a revision of this Lease by amendment hereof to set forth the amount of Base Rent during the Third Extended Term. Any additions, alterations or redecorations to the Demised Premises during the Third Second Extended Term shall be made at Tenant’s sole cost and expense.
Sample 1
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Related to Third Extended Term

  • 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.

  • 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:

  • Extended Terms The Term of this Agreement may be extended by the Manager if the Resident applies in writing for an “Extension” in accordance with the Managers published policies about Term Extensions. Extensions are subject to availability. Priority will be given to Residents travelling from great distances, who demonstrate a special need, or who are enrolled in orientation or academic programs that begin early or continue beyond the Residence Term. Extensions may also be granted for any ‘Early Move-In’, ‘Late Move-Out’ or ‘Summer Residence’ programs offered by the Manager. Residents granted Extensions are subject to the fees detailed in Table 3. Any Resident found occupying a Room outside of the Term without approval from the Manager are subject to additional fees over and above those detailed in Table 3. TABLE 3: Extended Terms Start (“Move-In Day”) End (“Move-Out Day”) Fees Summer Term 2020 N/A N/A N/A Academic Year 2020-2021 August 30, 31, September 1, 2, 3, 4, 2020 N/A $35.00/day Winter Term 2021 N/A N/A N/A * Customized By Manager

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Base Term Commencing on the Expansion Premises Commencement Date, the defined term “Base Term” on page 1 of the Lease is deleted in its entirety and replaced with the following:

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

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • 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.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Option to Extend Lease Term At the expiration of the original Lease Term, Tenant may extend this Lease as to the entire Premises or a portion of the Premises for two (2) extended terms of five (5) years each (each an “Extended Term”) by giving Landlord written notice (the “Option Notice”) of its intention to do so not later than twelve (12) months prior to the expiration of the original Lease Term, and thereafter twelve (12) months prior to the expiration of the applicable Extended Term; provided, however, that Tenant is not in material default beyond any applicable notice and cure period under the Lease on the date of giving such notice or on the date of commencement of such Extended Term. The Option Notice shall set forth Tenant’s election to extend the Lease for all or a portion of the Premises. If Tenant elects to extend the Lease for only a portion of the Premises, the portion of the Premises for which Tenant elects not to extend the Lease shall be: (i) either located entirely on one floor of the Premises or located on one entire floor and a portion of the other floor; (ii) a minimum of 15,000 RSF; (iii) adjacent to a window line and easily accessible; and (iv) shall be in a readily marketable and leasable location. Landlord shall be responsible for any and all costs to separate the portion of the Premises for which Tenant elects not to extend the Lease from the remainder of the Premises such that the space is a separate easily accessible and readily marketable space promptly following the commencement of the applicable Extended Term. Any termination of the entire Lease shall result in automatic termination of this option. Tenant’s right to extend the Lease Term provided herein is personal to Tenant and may not be assigned or otherwise transferred except in connection with a permitted assignment of this Lease, including to a Tenant’s Affiliate. The Extended Term shall be upon all of the terms and conditions of this Lease, except that the following rights of Tenant during the original Lease Term shall not apply during such Extended Term unless granted as part of the Fair Market Rental: (a) any right to rent-free possession; (b) any right to further extension of the Lease Term beyond the Extended Terms set forth herein above; (c) any right to continue to pay the same Base Rent; (d) any right to additional Tenant Allowance; (e) any right to terminate the Extended Term early; (f) any right to continue to exclude HVAC Capital Expenditures; (g) cost of security for the Building; and (h) the right to the continuation of any cap on Controllable Operating Expenses from the previous year (it being understood that the Operating Expenses for the first twelve (12) months of each new Extended Term shall be the actual Operating Expenses without any cap and thereafter the cap set forth in Section 4.2(e) shall apply). Landlord and Tenant hereby acknowledge and agree that the Base Rent during each Extended Term shall be equal to ninety-five (95%) of the Base Rent component of the “Fair Market Rental” and one hundred percent (100%) of the economic concessions, including without limitation, free rent, improvement allowance, base year and other monetary concessions, component of the Fair Market Rental for the Premises, as determined by as follows:

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