Extended Tenure Sample Clauses
The Extended Tenure clause allows for the continuation of an agreement or lease beyond its original expiration date under specified conditions. Typically, this clause outlines the process for extending the term, such as requiring advance written notice from one party to the other, and may set out any changes to terms, such as rent adjustments or renewal periods. Its core practical function is to provide flexibility and predictability for both parties, ensuring that ongoing arrangements can continue smoothly without renegotiating a new contract from scratch.
Extended Tenure. Forthe av oidance ofany doubt- itis m utually ▇▇ ▇▇▇▇ between both parties (Landlord and Tenant)thatifbefore the expiry date ofthis ag reem entneitherparty has form ally adv ised the otherby theirrespectiv e oblig ation (pe Clause 2 pag e 7 hereof)to eitherrepossess orv acate the subjects - then allprov isions contained herein shall rem ain v alid and the tenancy willcontinue on a contractualperiodic basis,butconditionalthatboth parties shall thereafterreserv e the rig htto inv ok e Clause 2pag e 7 atanytim e afterthe orig inalexpiry date.N otwithstanding - the Landlord shallm aintain the rig htto ag ain rev iew upwards the rentforsuccessiv e six m onth periods afterthe initialA g reem entperiod.
(10) The Guarantor(s) (if any) Agrees With The Landlord:
(i) That during the Tenancy the Tenant willpay the rent and carry out allthe Tenant's ag reem ents and oblig ations underthe A g reem ent.
(ii) Should the Tenantfailto pay the rent(ordefaults in carrying outthe Tenant's ag reem ents and oblig ations that on dem and the G uarantor willindem nify the Landlord ag ainst alllosses,claim s,liabilities,costs and expenses (arising outoforin connection with the Tenant's failure to pay ordefault)incurred by the Landlord in connection herewith.
(iii) Itis ▇▇ ▇▇▇▇ thatthe G uarantor's liability underthis clause willnotbe discharg ed oraffected by any alteration in the rentorany v ariation to the Tenancy oralteration in the Term s ofthe Tenancy oract,neg lectorg iv ing o ▇▇▇ e by the Landlord endeav ouring to obtain paym ents ▇▇▇▇ enforcing the Tenant's ag reem entoroblig ations and ifthe Tenantsurrenders any partofthe P roperty the G uarantor's liability willcontinue in respectofthe par notsurrendered. A ny liabilities accrued atthe date ofsurrenderwillcontinue unaffected.The G uarantee willcontinue and apply to any extension ofthe Tenancy and to any P eriodic Tenancy relating to the P roperty to which the Landlord and the Tenantare parties.
(11) W E CERTIFY thatthere is no ag reem entorlease to which this lease g iv es effect
Extended Tenure. Forthe avoidance ofanydoubt- itis mutuallyagreed betw een both parties (Landlord and Tenant)thatifbefore the expirydate ofthis agreem entneitherpartyhas form allyadvised the otherbytheirrespective obligation (▇▇ ▇ ▇▇▇▇▇ 2 page 7 hereof)to eitherrepossess orvacate the subjects - then allprovisions contained herein shall rem ain valid and the tenancyw illcontinue on acontractualperiodicbasis,butconditionalthatboth parties shall thereafterreserve the righttoinvok ▇ ▇ ▇▇▇▇▇ 2 page 7 atanytim e afterthe originalexpirydate.N otw ithstanding - the Landlord shallm aintain the righttoagain review upw ards the rentforsuccessive six m onth periods afterthe initialA greem entperiod.
Extended Tenure. SAMPLE For the avoidance of any doubt - it is mutually agreed between both parties (Landlord and Tenant) that if before the expiry date of this agreement neither party has formally advised the other by their respective obligation (per Clause 2 page 7 hereof) to either repossess or vacate the subjects - then all provisions contained herein shall remain valid and the tenancy will continue on a contractual periodic basis, but conditional that both parties shall thereafter reserve the right to invoke Clause 2 page 7 at anytime after the original expiry date. Notwithstanding - the Landlord shall maintain the right to again review upwards the rent for successive six month periods after the initial Agreement period.