Renewal Options. The State requires two (2) five (5) year options to renew with thirty (30) days advance written notice to the Landlord to exercise such option based on the terms and conditions defined in the Initial Lease. Please outline the rental rate for said option periods.
Renewal Options. This contract is initially executed for the period of 1 year with the option, at the Agency’s discretion, of 4 additional one-year option periods, for a maximum total of 5 years.
Renewal Options. If there is no then existing event of default by Tenant under the terms of this Lease, Tenant may extend the Lease Term by five (5) years ("Renewal Term") by giving written notice to Landlord ("Renewal Notice") at least 12 months prior to the termination of the original Lease Term. If Tenant exercises its option to renew this Lease for five (5) years, the Base Rental Rate for the five (5) year renewal period shall be an agreed upon amount greater than or equal to $13.00 per annum, per square foot of Rentable Floor Area of Demised Premises but less than or equal to $16.00 per annum, per square foot of Rentable Floor Area of Demised Premises. If Landlord and Tenant cannot agree by the end of the first month of the tenth Lease Year on the amount of Base Rental Rate for the Renewal Term, Tenant may give Landlord written notice by the end of the second month of the tenth Lease Year that it accepts a Base Rental Rate of $16.00 per annum, per square foot of Rentable Floor Area of Demises Premises. If Landlord and Tenant do not agree on the Base Rental Rate and Tenant fails to timely give such notice, the Renewal Option shall be deemed terminated. In the event of the exercise of the Renewal Option, Landlord will provide a "Construction Allowance" equal to $5.00 per square foot of Rentable Floor Area of Demised Premises. Such Construction Allowance shall be administered in a manner consistent with Exhibit "D" of this Lease (but Landlord shall have no obligation to perform the work described in Paragraph 3(b) of Exhibit "D-1") and Tenant may also receive reimbursement from such Construction Allowance (upon presentation of valid, paid invoices) for permanent leasehold improvements constructed by Tenant in the Demised Premises at any time from and after the beginning of the eighth Lease Year. Landlord shall not be required to undertake any work other than work to be paid for from such Construction Allowance remaining after the above reimbursements to Tenant or paid for by Tenant. Tenant agrees to pay landlord's construction management fees in the same percentage amount set forth in Exhibit "D" with respect to the renewal work. The other terms of the Lease will remain unchanged during the Renewal Term. Tenant's option is to renew the Lease under the terms and conditions described herein for the entire Demised Premises, including Expansion Space and First Offer Space. Tenant shall not have an option to renew the Lease Term only for a portion of the Demised Premises.
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least [#] days’ notice before any ending termination date. The Lessee shall have [#] renewal period(s) as follows: 1st Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) 2nd Renewal Period: From [START - MM/DD/YYYY], to [END - MM/DD/YYYY]. Monthly Rent: [AMOUNT (IN WORDS)] Dollars ($[AMOUNT (AS A NUMBER)]) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. This contract is initially executed for a period of 12 months with the option, at MPHA’s discretion, to extend multiple times up to 48 additional months, for a maximum total of 60 months.
Renewal Options. This Contract may be renewed upon satisfactory completion of the Term. The State reserves the right to execute up to two (2) renewal options under the same terms and conditions for a period not to exceed twelve (12) months each by the State, at the State's sole option. In no event, however, shall the maximum Term, including all renewals or extensions, exceed a total of sixty (60) months.
Renewal Options. The Lessee shall: (check one) ☐ - Have the option to renew this Agreement by providing at least (#) days’ notice before any ending termination date. The Lessee shall have (#) renewal period(s) as follows: 1st Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) 2nd Renewal Period: • From _ _ (mm/dd/yyyy), to _ (mm/dd/yyyy). • Monthly Rent: _ _ Dollars ($ ) The Initial Term and any renewal periods shall be referred to as the "Term.” ☐ - Not have the option to renew this Agreement.
Renewal Options. (1) So long as there is no uncured default hereunder by Tenant as of the date of Tenant's exercise of any Renewal Option or as of the date of the commencement of any Renewal Term, Tenant shall be entitled and is hereby granted two (2) successive options (the "Renewal Options") to extend the Term for an additional period of five (5) years each (the "Renewal Terms"). Except for Base Rent, as hereinafter defined and separately provided for, the Renewal Terms shall be on all the other terms and conditions of this Lease; provided, however, that (i) upon the exercise of the first Renewal Option Tenant shall have only one remaining Renewal Option and upon its exercise of the second Renewal Option Tenant shall have no further right or option to renew or extend the Term without Landlord's written consent, which may be withheld in Landlord's sole discretion, and (ii) Landlord shall not have any obligations to make any improvements or otherwise provide any inducement to Tenant. Tenant shall exercise each Renewal Option, if at all, only by giving written notice of such exercise to Landlord not less than six (6) months, nor more than twelve (12) months, prior to the expiration of the Initial Term or first Renewal Term, as the case may be. Should Tenant fail to timely exercise a Renewal Option in accordance with the preceding provisions, then the Term shall expire and this Lease shall terminate at the end of the Initial Term or the current Renewal Term, as applicable, and Tenant shall have no further right or option to renew or extend the Term. Tenant's exercise of a Renewal Option shall be irrevocable.
Renewal Options. This contract is executed for the period of time that it takes the Contractor to complete the work.
Renewal Options. Tenant has the option to renew (“Renewal Option”) this Lease for one 15-year renewal term (“Renewal Term”). Tenant can exercise the Renewal Option only upon satisfaction of the following conditions:
