Expiry of the Initial Term Sample Clauses

Expiry of the Initial Term. 3.9.1 In accordance with the terms of the Tenancy Agreement, we shall review the rent and seek your instruction in relation to the same. Where this results in a rent increase, you agree to pay us the Rent Review Fee of £42 inclusive of vat. 3.9.2 We shall seek Your instructions on whether to terminate or renew a tenancy approximately 10 weeks prior to the expiry of the initial term. On Your instruction, we will serve notice of termination on the Tenant. Where you provide verbal instructions, we will confirm Your instruction in writing. 3.9.3 Where you and the Tenant agree to renew or extend the tenancy, we shall prepare a new Tenancy Agreement and You agree to pay Us the Renewal Fee of £42 inclusive of vat. 3.9.4 Where the Tenant does not renew the Tenancy or You have served a notice of termination and You have informed Us You intend to immediately re-let the Property, We shall recommend an appropriate market rental for the Property and take Your instructions prior to marketing the Property for re-let.
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Expiry of the Initial Term. (a) Within ninety (90) days prior to the expiry of the penultimate year of the Initial Term: (i) the Tenant shall cause a special final Subsequent Stadium Lifecycle Plan to be performed which identifies: (A) Required Repairs for the period until the expiry of the Initial Term only; (B) any prior Required Repairs that were not completed; (C) any Repair Defaults that were not remedied; (collectively, the “Final Stadium Repair Obligations”), and (D) the total cost of the Final Stadium Repair Obligations (the “Final Stadium Reserve Contribution”); and (ii) a Subsequent Parking Structure Lifecycle Plan shall be performed pursuant to the Parking Reciprocal Agreement that identifies: (A) the repairs and replacements to the Parking Structure required for the period until the expiry of the Initial Term by reference to the Standard and any repairs and replacements required pursuant to previous Parking Structure Lifecycle Plans that were not completed (collectively, the “Final Parking Structure Repair Obligations”); and (B) the total cost of the Final Parking Structure Repair Obligations. (b) The Tenant shall cause the Final Stadium Repair Obligations and Final Parking Structure Repair Obligations to be completed prior to the expiry of the Initial Term. (c) The Tenant shall deposit into the Stadium Reserve, the difference (if a negative number) between the then outstanding balance of the Stadium Reserve and the Final Stadium Reserve Contribution and the Tenant shall deposit in the Parking Structure Reserve, the difference (if a negative number) between the then outstanding balance of the Parking Structure Reserve and the portion of the cost of the Final Parking Structure Repair Obligation payable by the Stadium Owner (as defined in the Parking Reciprocal Agreement) as set out in the Subsequent Parking Structure Lifecycle Plan described in Section 6.10(a)(ii). In the event that the Final Stadium Repair Obligations and Final Parking Structure Repair Obligations have been fulfilled and thereafter on the expiry of the Initial Term there are surplus funds in the Reserves, such surplus shall be distributed in accordance with Article XIII of the Project Agreement. In the event that the Final Stadium Repair Obligations and Final Parking Structure Repair Obligations have not been fulfilled prior to the expiry of the Initial Term, the Landlord shall be entitled to any amount remaining in the Reserves and, in addition, the Tenant shall pay to the Landlord an amount equal to the...
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Related to Expiry of the Initial Term

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Term of the Loan All principal, interest and other sums due under the Loan Documents shall be due and payable in full on the Maturity Date.

  • Amendment Term The term of the Master Agreement may be amended past the initial term and stated renewal periods for a reasonable period if in the judgment of the Lead State a follow-on competitive procurement will be unavoidably delayed (despite good faith efforts) beyond the planned date of execution of the follow-on master agreement. This subsection will not be deemed to limit the authority of a Lead State under its state law to otherwise negotiate contract extensions.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Original Term The weighted average original term for the Receivables is at least 65 months.

  • Extension of Initial Contract Period 31.1 Subject to clause 13 (Price Adjustment on Extension of the Initial Contract Period), the Authority may, by giving written notice to the Contractor not less than three (3) Month(s) prior to the last day of the Initial Contract Period, extend the Contract for such further period as may be specified in the notice. The provisions of the Contract will apply (subject to any Variation or adjustment to the Contract Price pursuant to clause 13) throughout any such extended period.

  • Expiration Date Each Letter of Credit shall expire at or prior to the close of business on the earlier of (i) the date one year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension thereof, one year after such renewal or extension) and (ii) the date that is five Business Days prior to the Maturity Date.

  • Initial Contract Term The Initial Contract Term shall be for two years. The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later. The Contract shall expire on October 1, 2023, unless terminated earlier in accordance with the Special Contract Conditions or Additional Special Contract Conditions.

  • Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.

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