Fourth Renewal Term definition

Fourth Renewal Term. As a condition to the right to renew the Third Renewal Term (for years nine and 10) of the License (the “Fourth Renewal Term”), VIASPACE shall have achieved during the Third Renewal Term the following milestones as a condition to any such renewal: · A total of least five or more (including the above) fully-executed third party sales contracts for the sale of Giant King Grass shall have been entered into, pursuant to which VIASPACE is to be paid the aggregate amount of $1,500,000, with not less than $750,000 having been paid prior to renewal; and · A total of at least five or more (including the above) growing locations of at least 50 hectares in total shall have been obtained and planted, which shall be subject to the reasonable satisfaction of VGE
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Fourth Renewal Term is defined in Paraxxxxx 0X xx this Lease.
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Fourth Renewal Term as defined in Section 33.1(a).
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Examples of Fourth Renewal Term in a sentence

  • Base Rent for the Fourth Renewal Term and the Fifth Renewal Term, if applicable, shall be the fair market value base rent as negotiated in the future by Landlord and Tenant.

  • Tenant acknowledges that if Tenant does not elect to exercise its options to extend the Term of the Master Lease for the Fourth Renewal Term or the Fifth Renewal Term, Landlord will need to sell the Leased Properties or find a new operator to lease the Leased Properties.

  • Pursuant to the Fifth Amendment, the Fourth Renewal Term expires on June 30, 2017.

  • As of the Fourth Renewal Term Commencement Date, Tenant’s Base Year for the Existing Premises and the Second Expansion Premises shall be adjusted to 2012.

  • Upon execution of this Fifth Amendment to Office Building Lease, Tenant shall deposit with Landlord the additional sum of Two Thousand, Nine Hundred Eight-Four and 15/100 Dollars ($2,984.15), so that such sum, together with the original Security Deposit, shall equal the Base Rent due for the last month of the Fourth Renewal Term and such original Security Deposit together with the additional amount shall be considered the “Security Deposit” and shall be subject to Article 5 of the Original Lease.

  • As provided in the 5th Amendment, Tenant may elect hereafter to further extend the Term of the Master Lease for the Fourth Renewal Term and the Fifth Renewal Term.

  • As of the Fourth Renewal Term Commencement Date, Tenant’s Percentage Share shall be adjusted upwards to 40.84%, to take into account the leasing of the Third Expansion Premises to Tenant.

  • Additionally, Tenant shall have the option to renew the Master Lease for three (3) further five-year terms commencing January 1, 2022 (the "Third Renewal Term"), January 1, 2027 (the "Fourth Renewal Term"), and January 1, 2032 (the "Fifth Renewal Term") for the Base Rent as described in Section 2.01.01(b).

  • Effective on July 1, 2013, Section 3 of the Lease entitled “Base Rent” shall be amended to provide that cumulative Base Rent during the Fourth Renewal Term shall be $26,081.15, to be payable in equal monthly installments of $4,346.86 in accordance with the Lease.

  • Landlord and Tenant acknowledge and agree that Landlord’s consent to the extension of the Lease for the Fourth Renewal Term is specific and exclusive to this Fourth Amendment and that Tenant’s lone Extension Option under the Lease was previously exercised by Tenant under the First Amendment and that Tenant has no further options to extend the Term of the Lease unless otherwise agreed in writing by Landlord.


More Definitions of Fourth Renewal Term

Fourth Renewal Term shall have the meaning set forth in Section 3.2 of this Lease.
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Related to Fourth Renewal Term

  • Renewal Term has the meaning set forth in Section 2.

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

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

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

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

  • Initial Term has the meaning set forth in Section 7.1.

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

  • Base Term Commencing (i) with respect to the Existing Premises on the Commencement Date, (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date and (iii) with respect to the Second Expansion Premises on the Second Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 16, 2016 (“Expiration Date”).”

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Additional Term means that term commencing on the last day of the Basic Term and terminating 5 years thereafter.

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

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

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

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

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

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

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

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Rent Commencement Date means the Commencement Date.