EXTENSION OF LEASE. Lessee shall have the option to extend this lease of the demised Premises for two additional five-year terms, contingent upon mutual agreement of the Board and the Lessee as to rental for the extension terms.
EXTENSION OF LEASE. The term of this Lease may be extended beyond June 30, 2021 (the “First Extension Period”), provided (i) Xxxxxx has provided the Board written notice of its desire to extend the term of the Lease at least 90 days prior to the end of the Term; (ii) Xxxxxx has received an extension or renewal of its charter contract (the “Charter Extension”), and (iii) the Board and Xxxxxx have mutually agreed to extend the Lease, then the term of the Lease shall be extended for a period of time not to exceed the length of the Charter Extension. All terms and conditions of this Lease will remain in full effect during the First Extension Period.
EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall not be assignable to any subtenant but shall be considered assigned to any assignee of this Lease under an assignment of the entire Lease by Lessee in compliance with Sections 20 and 40(i) of this Lease. The right to extend shall be for all or part of the Premises. Lessee shall give to Lessor written notice “Initial Notice” of Lessee’s election to so extend this Lease, and such written notice shall be delivered to Lessor on or before July 1, 2006. If Lessee does not desire to lease the entire Premises during the Extended Term, such notice shall contain a description of the exact location of the Premises that Lessee desires to lease during the Extended Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specified. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate in accordance with Section 4 of this Lease.
EXTENSION OF LEASE. At the end of the period as stated in the agreement, the lease will automatically covert to month to month. In the event of termination, a written notice must be served by the Lessee or the Lessor to the other at least thirty days prior to the end of the agreement. If the Lessee decides to continue, he will pay the monthly rental or decided otherwise and fulfil all other obligations in the agreement.
EXTENSION OF LEASE. Lessee shall have successive options to extend the term of this lease for two additional five-year terms. Lessee’s right to exercise each option is contingent upon:
(1) Lessee must give notice of its intention to exercise its option at least 90 days prior to the end of the then current term; (2) mutual agreement of the Board and Lessee as to rental fee and other terms for the applicable extension term; and
(3) Lessee having obtained from the Board a renewal of Lessee’s then charter contract or Lessee having entered into a new charter school contract with the Board, in each instance for the time period covered by the applicable extension.
EXTENSION OF LEASE. At the end of the initial lease period, the tenancy will automatically convert to mont-to-month, unless the Landlord or the Tenant has served a written notice of termination on the other at least thirty days prior to the end of the lease. In continuing, the Tenant agrees to pay the monthly rental and to keep and fulfill all the other covenants and conditions herein.
EXTENSION OF LEASE. Following expiration or termination of these General Terms, Seller shall be entitled to extend the duration of the Factory Lease as follows:
(a) If Tesla terminates these General Terms for Seller’s Default or the Factory Lease for Tenant’s Lease Default, Seller may continue its lease rights for [***]. Seller shall [***] in accordance with the Factory Lease [***] and Seller shall [***].
(b) If (i) these General Terms expire; or (ii) in the event of a termination of these General Terms and/or the Factory Lease for force majeure by either Party or termination for a Change of Control Event affecting the other Party, Seller may continue its lease rights for the longer of the remaining Lease Term (if applicable) or [***]. Seller shall [***] in accordance with the Factory Lease [***] and the Parties shall negotiate in good faith a potential extension of the Factory Lease. In case of termination for force majeure or for Change of Control by either Party, Tesla shall be responsible for [***]; provided, however, that Tesla will have sole financial responsibility with respect to any Tesla-Supplied Items and/or Utilities which were installed by Tesla (including the construction activities for which Tesla is solely responsible pursuant to the mutually-agreed matrix described in Section 11.1(c)). The Parties shall also, in connection with any such expiration or termination, discuss in good faith [***]. In the case of expiration (but not in case of termination for force majeure or for Change of Control), Tesla acknowledges that it will be responsible for [***] provided that (i) Seller has used best efforts to [***], (ii) [***] are mutually agreed in writing and in advance; provided, however, that such Tesla’s approval shall not be unreasonably withheld, delayed or conditioned, and (iii) Tesla shall not be responsible for any such [***]. Tesla will provide an estimated cost or profit for [***], and Seller will determine whether to [***]. Seller shall have financial responsibility for [***] if it chooses to [***]; provided, however, that Tesla shall pay Seller [***]. If Seller chooses to [***], Seller shall not be obligated to [***]. If Seller chooses to [***], Tesla shall bear [***], and if [***], Tesla will [***]. If Seller fails to [***], Seller will be deemed to have [***] and Tesla will [***] in its sole discretion and at Tesla’s sole expense or profit. For avoidance of doubt, Seller shall have no liability for Tesla’s failure to [***] in connection with any such [***...
EXTENSION OF LEASE. The parties hereto agree that:
(a) The Lease is hereby extended for the Fourth Extension Term.
(b) The Fourth Extension Term shall commence on January 1, 2021 and expire on December 31, 2025.
EXTENSION OF LEASE. The term of this Lease may be extended beyond June 30, 2019 (the "First Extension Period"), provided (i) Xxxxxx has provided the Board written notice of its desire to extend the term of the Lease at least 90 days prior to the end of the Term; (ii) Xxxxxx has received an extension or renewal of its charter contract (the "Charter
EXTENSION OF LEASE. In the event this Lease continues in full force and effect and is not terminated or otherwise extended pursuant to the provisions of this Article XII, and there has been an abatement of rent, the then current term of this Lease shall be extended by the total number of months during which there was such an abatement; however, in no event shall the abatement of rent exceed six (6) months duration in connection with each instance of damage or destruction during the term or extended term hereof.
