Extension Option Period definition

Extension Option Period has the meaning as set forth in Sub-Article 50(B).
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Extension Option Period. Subject to the provisions of Sections 24 & 25 1.7 Initial Monthly Base Rent: $18,252.00 1.8 Prepaid Base Rent: $18,252.00 1.9 Periodic Increase In Base Rent: Lease Year 2 $18,799.56 3 $19,363.55 4 $19,944.45 5 $20,542.78 6-10 Subject to the provision of Section 5.4
Sample 1
Extension Option Period. Subject to the provisions set forth in Section 23 Initial Monthly Base Rent: $105,069.00 ($1.37 per RSF x 76,693 RSF) Prepaid Base Rent: None. Adjustment to Monthly Base Rent: Months of Term Base Rent 2 $105,069.00 (conditionally abated, subject to provisions of Section 22) 3 - 12 $105,069.00 13 $108,221.00 (conditionally abated, subject to provisions of Section 22) 14 - 24 $108,221.00 25 - 36 $111,468.00 37 - 48 $114,812.00 49 - 60 $118,256.00 61 - 66 $121,804.00 Security Deposit Amount: $121,804.00$121,804.00 Improvement Allowance: $493,723.00 (subject to the provisions of Exhibit B) $510,008.45 subject to the provision of Exhibit B Tenant's Share: 51.070% for all Operating Expenses other than Real Property Taxes and 51.070% for Real Property Taxes. Exhibit 10.24
Sample 1

Examples of Extension Option Period in a sentence

  • The option period may be extended by Tenant for two (2) six (6) month periods (the “Extension Option Period(s)”) upon Tenant’s written notice to Landlord before the end of the Initial Option Period or prior Extension Option Period, as applicable, together with payment of One Thousand Dollar ($1000.00) (the Initial Option Period and Extension Option Periods are hereinafter collectively referred to as the “Option Period”).

  • His Lordship concurs that the view taken by the Hon‟ble Mr. Justice R.K.Mahajan(J) that the petition should be relegated to the P.S.T. and the petition is liable to be dismissed on this ground only.

  • Provided Tenant is not in default of its obligations under this Lease, including during the First Extension Option Period, Tenant shall have an additional option (the “Second Renewal Option”) to renew the term for an additional five (5) years commencing on termination of the First Extension Option Period (the “Second Extension Option Period”).

  • The absence of a statistically significant difference between the two sets suggests that networks of stations can reliably discern temperature trends even when individual stations have large absolute uncertainties.

  • Developer shall have the right, in Developer’s sole and absolute discretion, to elect to extend the time for performance for any component of the Developer’s Work set forth in the Schedule of Performance by written notice to District, provided that each such extension shall be for a period of sixty (60) days (the “Extension Option Period”) and there shall be no more than one (1) Extension Option Period during the Term Sheet Phase.

  • All terms and conditions of the Lease applicable to the Initial Term, except Minimum Rent, which shall be increased as set forth in Section 5.4 herein, shall apply during the First Extension Option Period.

  • Monthly lease payment for each successive twelve month period of this lease, in years two through ten (this period encompasses the initial period and the first Extension Option Period) shall be increased by 2% of the amount of the preceding period.

  • The Base Rent for the extension term shall equal the greater of (i) the Base Rent payable by Tenant as of the last month of the Term prior to the commencement of the Extension Option Period, and (ii) one hundred percent (100%) of the fair market rental value as of the Expiration Date for the occupancy of the Premises for the permitted use under this Lease, determined using the “market comparison approach” described below (“Market Rent”).

  • All terms and conditions of the Lease applicable to the Initial Term, except Minimum Rent, which shall be as set forth in Section 5.4 herein, shall apply during the Second Extension Option Period.

  • M E T R O P O L I T A N W A S H I N G T O N A I R P O R T S A U T H O R I T Y Contract Terms The Signature FBO Contract Extension Option Period will provide the Airports Authority an opportunity to make additional modifications to the existing contract’s business terms.

Related to Extension Option Period

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Second Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Renewal Option has the meaning set forth in §12.1.

  • Option Period means the period during which an Option may be exercised.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Call Option Period has the meaning given to it in Condition 6.04 (Call Option);

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Extension Term means the time period defined in §2.C.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Extended Term shall have the meaning set forth in Section 2.

  • Initial Optional Termination Date The first Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is equal to or less than 10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Original Term shall have the meaning specified in Section 10 hereof.

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Extension Notice has the meaning specified in Section 308.

  • Put Option Notice means a notice which must be delivered to a Paying Agent by any Noteholder wanting to exercise a right to redeem a Note at the option of the Noteholder;

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Early Termination Notice Date Any date as of which the aggregate Stated Principal Balance of the Mortgage Loans (including REO Mortgage Loans) is less than 1.0% of the sum of the aggregate Cut-Off Date Balance of the Mortgage Pool initially included in the Trust Fund.

  • Extension Period has the meaning set forth in Section 2.11.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of: