Common use of Continuation of Lease Term Clause in Contracts

Continuation of Lease Term. Xxxxxx currently intends, subject to nonratification, to continue the Lease Term through the Original Term and all of the Renewal Terms and to pay the Rental Payments hereunder. Lessee reasonably believes that legally available funds in an amount sufficient to make all Payments during the Original Term and each of the Renewal Terms can be obtained. Notwithstanding the foregoing, the decision whether or not to budget or appropriate funds or to ratify this Agreement for any Renewal Term is solely within the discretion of the then current governing body of Lessee. New Unnumbered Section - Nonratification. Lessee is obligated only to pay such Rental Payments under this Agreement as may lawfully be made from funds budgeted and appropriated for that purpose during Xxxxxx's then current fiscal year. Should Lessee fail to ratify this Agreement for the Renewal Term following the then current Original Term or Renewal Term, this Agreement shall be deemed terminated at the end of the then current Original Term or Renewal Term. Xxxxxx agrees to deliver notice to Lessor of its ratification or termination of this Agreement at least ninety (90) days prior to the end of the then current Original Term or Renewal Term. Failure to give notice of such termination will not extend the Lease Term beyond such Original Term or Renewal Term. If this Agreement is terminated in accordance with this Section, Xxxxxx agrees, at Xxxxxx's cost and expense, to peaceably deliver the Equipment to Lessor at the location or locations to be specified by Lessor.