Common use of EXTENSION OF LEASE Clause in Contracts

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 term of this Lease may be extended beyond June 30, 2021 2022 (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.