Extension Term Provisions Sample Clauses

Extension Term Provisions. Each Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except Tenant shall have no further option to extend the Term following the second (2nd) Extension Term, and the Annual Rent payable by Tenant for each Extension Term shall be the “Fair Market Rental Value” of the Premises for such Extension Term determined as follows: Within ten (10) days after receipt by Landlord of the Extension Notice, Landlord shall notify Tenant of Landlord’s determination of the Fair Market Rental Value of the Premises for the Extension Term related thereto. Said Fair Market Rental Value may be different for each lease year during said Extension Term. Within ten (10) days after receipt of Landlord’s notice, time being of the essence with respect thereto, Tenant shall advise Landlord that (a) it accepts Landlord’s determination of the Fair Market Rental Value of the Premises, (b) it rejects Landlord’s determination of the Fair Market Rental Value of the Premises, or (c) that Tenant revokes its exercise of the Extension Term (in which case, the Expiration Date shall occur upon the last day of the Initial Term or the Extension Term then in effect, without further extension). If Tenant fails to advise Landlord within said ten (10) day period, Tenant shall be deemed to have rejected the Fair Market Rental Value determined by Landlord. If Tenant rejects (or is deemed to have rejected) Landlord’s determination of the Fair Market Rental Value of the Premises, Tenant shall, at its cost and expense, engage the services of an independent real estate appraiser, having an MAI designation, with knowledge and experience of rental values of similar properties in the area to perform an appraisal to determine the Fair Market Rental Value of the Premises for the Extension Term. Such appraiser shall render his or her appraisal report to Landlord and Tenant not later than thirty (30) days after the date of Tenant’s notice to Landlord rejecting Landlord’s determination of the Fair Market Rental Value of the Premises. If the Fair Market Rental Value so determined by the appraiser in his or her report shall not be acceptable to Landlord, Landlord shall have the right, at its cost and expense, to engage the services of an appraiser, having similar qualifications as those set forth above, to determine the Fair Market Rental Value of the Premises for the Extension Term. The two appraisers shall then select a third appraiser, having s...
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Extension Term Provisions. The Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except Tenant shall have no further option to extend the Term following the Extension Term, and the Annual Rent payable by Tenant for the Extension Term shall be as follows: ICM: 09/18/02 FORM: AmberJc2.meb Rev. 09/18/02 MTNT-Msty-Office G+TE – AJ Lease F:\wpdata\meb2\Leases\ValeritasLse3.doc 10/16/09 5:30p.m. 18
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Extension Term Provisions. The Extension Term(s) shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Team, except Tenant shall have no further option to extend the Term following the second Extension Term, and the Annual Rent payable by Tenant for the Extension Terms shall be as follows:
Sample 1
Extension Term Provisions. Each Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except Tenant shall have no further option to extend the Term following the second Extension Term, and the Annual
Sample 1
Extension Term Provisions. The Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except that the Base Rent payable by Tenant to Landlord during the Extension Term shall be at the annual amount and for the periods and be payable in the monthly installments as follows: Monthly Annual Period PSF Installment Amount ------ --- ----------- ------ April 1, 2003 - March 31, 2008 $4.00 $41,577.00 $498,924.00 Initials: /s/ PDS ------------------------------ Landlord /s/ RDF ------------------------------ Tenant FIRST AMENDMENT TO LEASE THIS FIRST AMENDMENT TO LEASE, made as of the 31 day of March, 1998, by and between 1112 CR NB, L.L.C., a New Jersey limited liability company having an address c/o Sudler Management Company, L.L.C., Xxxxxx Corporate Center I, 000 Xxxxxxxxx Xxxxxxx, Xxxxxxxxxx, Xxx Xxxxxx 00000-0000 ("Landlord") and NET GROCER, INC., a Delaware corporation having an office at 000 Xxxxxxx Xxxxxx (00xx Xxxxx), Xxx Xxxx, Xxx Xxxx 00000 ("Tenant").
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Extension Term Provisions. Each Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except: (a) The Fixed Rent for the One Year Extension Term shall be an amount equal to the Fixed Rent payable during the fifteenth (15th) Lease Year, as increased by an amount equal to the Consumer Price Index Increase with a minimum increase of one (1%) percent annually and a maximum increase of three (3%) percent annually. (b) In the event Tenant exercises its One Year Extension Term and the Choice A 5-Year Extension, then the Fixed Rent for the first Lease Year of the Choice A 5-Year Extension shall be in an amount equal to One Million Three Hundred Seventy-Two Thousand Five Hundred Eighty Eight and 50/100 ($1,372,588.50) Dollars ($114,382.38 per month), as increased by the Consumer Price Index Increase, calculated from the first Lease Year to the fifteenth (15th) Lease Year. Fixed Rent for the Choice A 5-Year Extension shall thereafter increase annually by an amount equal to the Consumer Price Index Increase, with a minimum increase of one (1%) percent annually, and a maximum increase of three (3%) percent annually. (c) In the event Tenant exercises its right to extend the Term for the Choice B 5-Year Extension (without having exercised its option to extend the Term by the One Year Extension), then the Fixed Rent for the Choice B 5-Year Extension shall be in an amount equal to One Million Three Hundred Seventy-Two Thousand Five Hundred Eighty Eight and 50/100 ($1,372,588.50) Dollars ($114,382.38 per month) as increased by the Consumer Price Index Increase calculated from the first Lease Year to the fifteenth (15th) Lease Year. Fixed Rent for the Choice B 5-Year Extension shall thereafter increase annually by an amount equal to the Consumer Price Index Increase, with a minimum increase of one (1%) percent annually, and a maximum increase of three (3%) percent annually. The Fixed Rent for the Extension Term shall be payable in equal monthly installments during the applicable Lease Year. (d) Tenant shall have no further Extension Option beyond the Extension Terms described herein.
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Extension Term Provisions. The Extension Term shall be on all of the same terms and conditions set forth in the Lease and applicable to the Initial Term, except Tenant shall have no further option to extend the Term following the Extension Term and the Base Rent payable by Tenant to Landlord for the Extension Term shall be at the annual amounts and for the periods and be payable in monthly installments as follows: Per Period Square Foot Monthly Installment Annual Amount ------ ----------- ------------------- ------------- Lease Years 11-15 $46.23 $17,336.25 $208,035.00 Initials: -------- Landlord ------ Tenant RESTRICTIVE COVENANT AND PROHIBITED USE RIDER Date of Lease: , 2004 Landlord: 724 R202 Associates, L.L.C. Tenant: Harvey Electronics, Inc. Premixxx: Building #4A Bxxxxxxxxxx Xxxxx Xxxxxx Xxxxxxxxxxx, Xxx Xxxxxx Xxxxxxxxx xxx xxx xxxtrictive covenants presently in effect, and uses prohibited, with respect to the Premises and/or the Shopping Center: 1. No portion of the Premises shall be used as : a bowling alley; theater showing either film, television or the like or live entertainment; health club, spa or exercise salon; arcade; game or amusement room; diner; coffee shop; billiard parlor; roller skating rink; ice skating rink; flea market; off-track betting office or for gambling; fire sale; bankruptcy sale; auction house operation; adult bookstore; massage parlor; establishment selling or exhibiting pornography; or for non retail or non retail service use. 2. No portion of the Premises shall be used or occupied as a sports or other entertainment viewing facility (whether live, film, audio/visual or video); an automobile body and fender shop; an automobile repair shop (mechanical or otherwise) or any business servicing motor vehicles, including, without limitation, any quick lube oil change services, tire center, or any business storing or selling gasoline or diesel fuel at retail or wholesale; a catering or banquet hall; a so-called "head-shop"; a bingo parlor or any establishment conducting games of chance; a sales office, showroom or storage facility for boats, automobiles or other vehicles; a pawn shop; a central laundry, laundromat, dry cleaning or laundry plant or "drop store"; a funeral parlor, mortuary, crematorium or any other establishment selling caskets, headstones or other services, products and/or merchandise related to the funeral or burial business; a discotheque or dance hall; a recycling facility; stockyard; a recreation and fitness facility, whether providin...
Sample 1
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Related to Extension Term Provisions

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

  • Extension Term The options to extend the Term of this Lease as described above shall not be deemed exercised by Tenant unless at least twenty-four (24) months prior to the Lease Expiration Date for the Primary Term or at least twenty-four (24) months prior to the expiration of the Extension Term for the first (1st) Extension Term, Tenant shall have delivered written notice to Landlord of Tenant's irrevocable election to so extend this Lease at the end of the Primary Term or the first (1st) Extension Term, as applicable. Tenant's failure to deliver one (1) such timely notice to Landlord shall terminate all future Extension Terms, if any, following the Extension Term to which such notice specifically relates. Subject to the provisions of paragraph 5 of this Lease, the terms and conditions of this Lease shall apply to each Extension Term with the same force and effect as if such Extension Term had originally been included in the Primary Term of the Lease. The right of Tenant to exercise its rights with respect to the Extension Terms shall be conditioned upon this Lease being in full force and effect and no Event of Default then existing as of the Lease Expiration Date (for the first (1st) Extension Term), or expiration of the first (1st) Extension Term (for the second (2nd) Extension Term). The Primary Term, together with any Extension Term with respect to which Tenant properly exercises its option, and for which the conditions related thereto are satisfied, shall constitute the "TERM" of this Lease.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • Stay, Extension and Usury Laws The Company and each of the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted.

  • Renewal, Termination and Amendment This Agreement shall continue in effect, unless sooner terminated as hereinafter provided, until December 31, 2007 and shall continue in full force and effect for successive periods of one year thereafter, but only so long as each such continuance as to the Portfolio is specifically approved at least annually by vote of the holders of a majority of the outstanding voting securities of the Portfolio or by vote of a majority of the Trust's Board of Trustees; and further provided that such continuance is also approved annually by the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any such party. This Agreement may be terminated as to the Portfolio at any time, without payment of any penalty, by the Trust's Board of Trustees, by the Manager, or by a vote of the majority of the outstanding voting securities of the Portfolio upon 60 days' prior written notice to the Adviser, or by the Adviser upon 90 days' prior written notice to the Manager, or upon such shorter notice as may be mutually agreed upon. This Agreement shall terminate automatically and immediately upon termination of the Management Agreement between the Manager and the Trust. This Agreement shall terminate automatically and immediately in the event of its assignment. The terms "assignment" and "vote of a majority of the outstanding voting securities" shall have the meaning set forth for such terms in the 1940 Act. This Agreement may be amended at any time by the Adviser and the Manager, subject to approval by the Trust's Board of Trustees and, if required by applicable SEC rules, regulations, or orders, a vote of a majority of the Portfolio's outstanding voting securities.

  • Waiver of Stay, Extension or Usury Laws The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Company from paying all or any portion of the principal of, premium, if any, or interest on the Notes as contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) the Company hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had been enacted.

  • Additional Termination Provisions Notwithstanding and in addition to the foregoing, in the event that (i) a Mortgage Loan becomes delinquent for a period of 90 days or more (a "Delinquent Mortgage Loan") or (ii) a Mortgage Loan becomes an REO Property, the Purchaser may at its election terminate this Agreement with respect to such Delinquent Mortgage Loan or REO Property, upon 15 days' written notice to the Seller.

  • Extension of Agreement Prior to the original expiration date of this Agreement, the Parties mutually agree to extend this Agreement to the February 15 extension date identified in Paragraph VIII(A). The Parties acknowledge that no further extensions of this Agreement are authorized.

  • Extension of the Term At least two months prior to the third anniversary of the Effective Date, the Parties will evaluate the effectiveness of this Agreement and decide whether to extend the Term.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

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