Amendment of the Lease Sample Clauses
Amendment of the Lease. The Lease shall not be amended or modified in any way which would materially reduce Manager’s rights hereunder or impose any material cost, expense or obligation on Manager.
Amendment of the Lease. The Lease is hereby amended as follows:
(a) AMENDMENT OF SECTION 3(b). Section 3(b) of the Lease is amended to read in its entirely as follows:
Amendment of the Lease. The Lease is hereby amended as follows:
(a) Article II is amended to extend the Lease Term through May 31, 2025.
(b) Article III, Section A, is amended to refer to base rent in the following amounts for the following periods: June 1, 2019 - May 31, 2020 $ 7.50 $ 554,152.50 $ 46,179.38 June 1, 2020 - May 31, 2021 $ 7.75 $ 572,624.25 $ 47,718.69 June 1, 2021 - May 31, 2022 $ 6.00 $ 443,322.00 $ 36,943.50 June 1, 2022 - May 31, 2023 $ 6.00 $ 443,322.00 $ 36,943.50 June 1, 2023 - May 31, 2024 $ 6.00 $ 443,322.00 $ 36,943.50 June 1, 2024 - May 31, 2025 $ 6.00 $ 443,322.00 $ 36,943.50 (c) Provided that TransAct is not then in default under the Lease (following any required notice to TransAct and following the expiration of any applicable cure period) and the Lease remains in full force and effect, TransAct is granted an option (the “Option”) to extend the Lease Term from June 1, 2025 to May 31, 2029 with base rent in the following amounts for the following periods: June 1, 2025 - May 31, 2026 $ 6.50 $ 480,265.50 $ 40,022.13 June 1, 2026 - May 31, 2027 $ 6.50 $ 480,265.50 $ 40,022.13 June 1, 2027 - May 31, 2028 $ 6.50 $ 480,265.50 $ 40,022.13 June 1, 2028 - May 31, 2029 $ 6.50 $ 480,265.50 $ 40,022.13
(d) If TransAct does not provide Bomax with written notice of its exercise of the Option on or before May 31, 2024, the Option shall expire and be of no further force and effect. If TransAct timely exercises the Option, upon the request of either party, the parties shall execute an amendment to Article II and Article III, Section A of the Lease further documenting such.
Amendment of the Lease. Notwithstanding any provisions to the contrary set forth in the Lease, the First Amendment, the Second Amendment, the Third Amendment and/or the Fourth Amendment, the Lease shall be further amended as follows:
a. In consideration for GKF’s agreement to replace the existing Model 4C with the Perfexion to be purchased by University from GKF, commencing from the “Equipment Transition Date” to and including January 20, 2008 (which is the current expiration date of the Lease), University shall pay to GKF the “Equipment Transition Period Payments” and the “Remaining Period Payments,” which shall be billed and paid as set forth below. As used herein:
Amendment of the Lease. -i- TABLE OF CONTENTS (continued)
Amendment of the Lease. The Lease is hereby amended as follows:
(a) Article II is amended to delete the last paragraph (and any reference to an Option Term) and to extend the Lease Term from June 4, 2012 through May 31, 2016.
(b) Article III, Section A. is amended to refer to rent of $5.82 per gross square foot (i.e. $430,022.34) per annum for the balance of the Lease Term, effective on and after June 1, 2012; provided, however, acknowledging that Bomax has no obligation to do so, if Bomax does not take any action to review or contest any Impositions imposed upon or against the Leased Premises based on the assessed valuation thereof for which TransAct is responsible under the Lease by action taken on or before May 31, 2013, the rent will be adjusted to $5.80 per gross square foot (i.e. $428,544.60) retroactive to June 1, 2012 and any overage paid refunded or credited against the next month’s rental payment.
(c) Article III, Section C. is deleted in its entirety.
(d) Article IV, Section D. is deleted in its entirety and replaced with the following: Provided that Bomax takes any action to review or contest the assessed valuation of the Leased Premises on or before May 31, 2013, TransAct waives its right to review or contest any Impositions imposed upon or against the Leased Premises based on the assessed valuation thereof for which TransAct is responsible under the Lease, such right inuring solely to Bomax, without any obligation to take any action to so review or contest such Impositions. If and in the event Bomax takes action to review or contest any Impositions imposed upon or against the Leased Premises based on the assessed valuation thereof for which TransAct is responsible under the Lease and is successful in reducing such Impositions, TransAct will pay to Bomax fifty (50%) percent of such savings plus fifty (50%) of the cost of prosecuting such including, without limitation reasonable attorney’s fees, provided such cost does not exceed such savings, based on the reduced assessed value of the Leased Premises as compared to the current assessed value of the Leased Premises. , TransAct will pay the aforementioned amounts out of any refund of the Impositions previously paid by TransAct and/or when and to the extent that the reduced Impositions are payable under the Lease each year during the remainder of the Lease Term.
(e) Article IX, Sections A and B are amended to reflect the fact that (i) while TransAct shall remain responsible for the maintenance and minor repairs to all a...
Amendment of the Lease. Section 36 of the Lease is hereby deleted and is of no further force or effect.
Amendment of the Lease. The Lease is hereby amended as follows:
(a) AMENDMENT OF SECTION 19(b). The first paragraph of Section 19(b) of the Lease is amended to read in its entirety as follows:
Amendment of the Lease. The Lease is hereby amended as follows:
(a) Article II is amended to extend the Lease Term from May 31, 2016 through May 31, 2021.
(b) Article III, Section A. is amended to refer to base rent in the following amounts for the following periods:
Amendment of the Lease. The Lease is hereby amended as follows:
a. Section 4.1 of the Lease is hereby deleted in its entirety and shall be replaced with the following: “Tenant shall pay to Landlord, without notice or demand, in lawful money of the United States of America, at Landlord’s Address for Payment, or at such other place as Landlord shall designate in writing from time to time: (a) the Base Rent, minus any offset or deduction, in equal monthly installments, in advance, on the first day of each calendar month during the Term, and (b) the Additional Rent, minus any offset or deduction, at the respective times required hereunder. The first monthly installment of Base Rent and the Additional Rent payable under Article 5 hereof shall be paid in advance on the date of Tenant’s execution of this Lease and applied to the first installments of Base Rent and such Additional Rent coming due under this Lease. Payment of Rent shall begin on the Commencement Date; provided, however, that, if either the Commencement Date or the Expiration Date falls on a date other than the first day of a calendar month, the Rent due for such fractional month shall be prorated on a per diem basis between Landlord and Tenant so as to charge Tenant only for the portion of such fractional month falling within the Term.”