Additional Renewal Term definition

Additional Renewal Term shall have the meaning specified in Section 5.1 of the Lease.
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Additional Renewal Term shall have the meaning specified in Section 5.1(a)(ii).
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Additional Renewal Term shall have the meaning specified in Section 5.01 of the Lease.
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Examples of Additional Renewal Term in a sentence

  • Upon any extension after the Additional Renewal Term, Property Owner will become the landlord under the Lease and, accordingly, a direct beneficiary, obligee, and obligor thereunder.

  • The parties acknowledge that upon the termination of the Additional Renewal Term, the Easement will expire and, as a result, Landlord will no longer have the right to occupy the Property for the purposes of providing Tenant its rights under the Lease.

  • Landlord and Tenant agree that, for the Additional Renewal Term, Property Owner is a third party beneficiary under the Lease, as modified hereby, and has the right to directly enforce all of the duties and obligations of Tenant under the Lease.

  • After the termination of the Additional Renewal Term, if the Lease is extended as provided herein, rent shall be payable to Property Owner at the address provided in Section 6 below.

  • The parties further agree that Tenant shall have the option to request extensions of the Lease for two (2) additional five-year Renewal Terms commencing, respectively, on January 1, 2028 and January 1, 2033, by providing Property Owner written notice of Tenant’s request for renewal (the “ Renewal Request”) at least eighteen (18) months prior to the expiration of the Additional Renewal Term or the first subsequent Renewal Term thereafter.

  • The rent for the Additional Renewal Term and any subsequent Renewal Term shall continue without interruption; provided that the rent shall be increased each year on January 1 by 3% of the previous year’s annualized rent.

  • Landlord and Tenant agree that the Leaseis a lease only of Landlord’s non-exclusive easement interest in the Leased Premises during the Additional Renewal Term.

  • Upon expiration of the Additional Renewal Term, Tenant shall remove all Improvements located on the Property, including any portion of the Improvements above and below ground, and shall restore the Property to substantially to the same condition existing on the commencement date of the Lease, reasonable wear and tear excepted.

  • The annual rent during the Additional Renewal Terms shall increase on each anniversary of the Additional Renewal Term Commencement Date by an amount equal to four percent (4%) over the annual rent due during the immediately preceding lease year.

  • The first such Additional Renewal Term shall commence on the day following the expiration of the last remaining renewal period currently available under the Lease Agreement.


More Definitions of Additional Renewal Term

Additional Renewal Term shall have the meaning given to that term in Section 2.3(c).
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Additional Renewal Term has the meaning specified in Section 3.2 (BWS Renewal Options).
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Related to Additional Renewal Term

  • Renewal Term has 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.

  • Extended Term shall have the meaning given such term in Section 2.4.

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

  • 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.

  • 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.

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

  • 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:

  • Additional Term shall have the meaning set forth in Section 8.2.

  • Base Rent As defined in Section 3.1.

  • Additional Rental has the meaning set forth in Section 4.03.

  • 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.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Base Term Beginning (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on August 31, 2024.”

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • 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.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Additional Rent means any and all amounts, other than Basic Rent, required to be paid by the Tenant under this Lease, whether or not same are designated “Additional Rent” or whether or not the same are payable by Landlord;

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Renewal Fee means the fee that Borrower must pay Coast upon renewal of this Agreement pursuant to Section 9.1 hereof, in the amount set forth on the Schedule.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.