Extension Term Provisions Clause Samples
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, including provisions relating to the payment of Additional Rent, except that the Annual Base Rent for the Extension Term shall be determined in the following manner:
(a) The Annual Base Rent for the first Lease Year of the Extension Term shall be the then current market rental rate for comparable industrial space in Salem, New Hampshire (the "Fair Market Rental"), provided, however, that in no event whatsoever shall the Annual Base Rent for the first Lease Year of the Extension Term be less than the Annual Base Rent for the last Lease Year of the Initial Term. If the Fair Market Rental as determined by Landlord is not greater than the Annual Base Rent for the last Lease Year of the Initial Term, then, the Annual Base Rent for the first Lease Year of the Extension Term shall conclusively be deemed to be equal to the Annual Base Rent for the last Lease Year of the Initial Term, and Landlord shall provide notice to that effect to Tenant. If, in Landlord's opinion, the Fair Market Rental is greater than the Annual Base Rent for the last Lease Year of the Initial Term, then, Landlord shall set forth its opinion of the Fair Market Rental in a written notice from Landlord to Tenant ("Notice of Rent Determination") given within sixty (60) days following Landlord's actual receipt of the Extension Notice from Tenant, If Tenant does not wish to accept the Fair Market Rental as set forth in Landlord's Notice of Rent Determination, then, Tenant shall give Landlord written notice of such non- acceptance ("Tenant's Notice of Non-Acceptance") within twenty (20) days after Tenant's receipt of Landlord's Notice of Rent Determination; said twenty (20) day period being strictly of the essence. If Tenant notifies Landlord that Tenant accepts Landlord's determination of the Fair Market Rental, or, if, for any reason whatsoever, Landlord fails to receive a timely and proper Notice of Non-Acceptance, then, Tenant shall automatically, conclusively, and irrevocably be deemed to have accepted and agreed to the Fair Market Rental set forth in Landlord's Notice of Rent Determination. If Tenant delivers a timely and proper Notice of Non- Acceptance to Landlord, then, Tenant shall automatically, conclusively and irrevocably be deemed to have withdrawn and nullified its prior exercise of the Option to extend the Term of this Lease for the Extension Term, unless s...
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
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., ▇▇▇▇▇▇ Corporate Center I, ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ ("Landlord") and NET GROCER, INC., a Delaware corporation having an office at ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (▇▇▇▇ ▇▇▇▇▇), ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ("Tenant").
Extension Term Provisions. The Parties agree that the fees charged during the Extension Term were the same as those charged during the Initial Term.
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.
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
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:
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. Premi▇▇▇: Building #4A B▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇trictive 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...