Extensions of Term. The License Term will be extended for the period the Hotel is not operating as a result of fire or other casualty. You are not required to make any payments pursuant to Paragraph 3D while the Hotel is closed by reason of condemnation or casualty unless you receive insurance proceeds.
Extensions of Term. The following provisions are added and incorporated into the Lease:
Extensions of Term. Tenant may elect to extend the term of this Lease for six (6) additional terms of five years each upon the terms, covenants, conditions, conditional limitations, and agreements herein contained, in accordance with and subject to the following conditions:
a. Each extension of the term of this Lease shall be for a period of 5 years commencing on the date of termination of the original or then current extended term and expiring on the fifth anniversary of the date of commencement of such extension period. The term of this Lease may be extended a maximum of six times so that the final termination date of this Lease, in any event, shall be no later than [July 31, 2056].
b. The election to extend shall be exercised, if at all, at least 90 days prior to the date of commencement of the extension period so elected. The election to extend shall be exercised only by written notice to Landlord, which notice shall be executed and acknowledged by Tenant in form proper for recording. During each extended term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the annual Basic Rent for each extended term shall be payable in the amounts and at the times set forth in subparagraph c below.
c. The Basic Rent for each extended term shall be annual rental at the rate of $1.00 per year, payable on July 1 of each year beginning on July 1 of the first year of the extended term, without set-off or abatement. The notice of election to extend the term of this Lease given in accordance with the provisions of this paragraph shall automatically extend the term of this Lease for the extended term without further writing. However, either party, upon request of the other, will execute and acknowledge, in form proper for recording, an instrument confirming said extension, which shall have been properly elected by Tenant. All references in this Lease to the “term” of this Lease, or to the “term” hereof, shall be deemed to include the original term specified in paragraph 2 hereof (Demised Premises and Term) and each extended term thereof elected pursuant to the provisions of this paragraph. The notice of election to extend the term of this Lease given in accordance with the provisions of this paragraph shall have no effect, and the extension period shall not become effective, if Landlord has delivered to Tenant a written notice of default under the terms of this Lease at the time the notice is given or immediately prior to the expiration date o...
Extensions of Term. Subject to earlier termination as set forth in Section 5, below, following the Initial Term End Date set forth in Section 1.2, the term of this Agreement and Employee’s employment with the Company under this Agreement will be automatically extended for successive terms, consisting of twelve (12) months each (the “Extension Terms”), unless either the Company or Employee gives the other party written notice of an election not to extend the term of this Agreement beyond the Initial Term End Date, or beyond an Extension Term, at least thirty (30) days before the end of the then-current term. In this Agreement, the Initial Term of Employment and any Extension Terms (if the term of this Agreement is extended to include any Extension Terms as set forth above), will be sometimes collectively referred to as Employee’s “Term of Employment” under this Agreement.
Extensions of Term a. This Agreement shall automatically renew itself for an additional five years ("First Option Period") unless terminated by GSI or Retailer with written notice to the other party no later than ninety (90) days prior to the expiration of the then current Term, as such Term may have been extended.
b. After the expiration of the First Option Period, this Agreement shall automatically renew itself from year to year unless terminated by GSI or Retailer with written notice to the other party no later than ninety (90) days prior to the expiration of the then current Term, as such Term may have been extended.
Extensions of Term. No less than fifteen (15) days before the final day of the initial Service Period applicable to a particular Service and for which extension is permissible hereunder, each as specified on Schedule I (such final day, the “Expiration Date”), EIS International may request that EMC and its affiliates continue to provide certain Services beyond the Expiration Date by delivering to EMC a written notice specifying the particular Services requested for an additional period and the extended period of time for which those Services are requested (the “Extension Period”) (which Extension Period shall end no later than [June 30, 2022]). EMC and its affiliates shall use their commercially reasonable efforts to provide such Services during the Extension Period beyond the Expiration Date but no later than June 30, 2022 (any Services provided beyond the applicable Expiration Date, the “Extended Services”) and shall xxxx XXX International on a monthly basis for such Extended Services pursuant to the rates set forth on Schedule I, plus an additional 10%. EMC and its affiliates shall have no obligation to provide any Services for which extension is permissible following the final day of the Extension Period, if any. For the avoidance of doubt, EMC shall have no obligation to provide any Extended Services beyond [June 30, 2022].
Extensions of Term. The Term may be extended to a specified future date at any time by the specific written agreement of the parties signed prior to the original expiration date specified in Section 2.1, or any subsequent expiration date established pursuant to this Section 2.2.
Extensions of Term. The Term will be extended for the period of time during which the Hotel is not operating due to fire or other casualty. You need not make any payments under Sections 3D(4)(a) and (b) while the Hotel is closed by reason of condemnation or casualty unless you receive insurance proceeds.
Extensions of Term. (a) Tenant shall have the right to extend the term of this Lease for one (1) five (5) year term, such extension term to commence on the date immediately succeeding the Expiration Date and to end on the last day of the month in which occurs the fifth (5th) anniversary of the Expiration Date (the "Extension Term"), provided that:
(i) Tenant shall give Landlord notice (hereinafter called an "Extension Notice") of its election to extend the term of this Lease no later than fifteen (15) months prior to the Expiration Date;
(ii) Tenant is not in default of any obligations under this Lease (which, with respect to non-monetary defaults, shall be beyond applicable notice and cure periods, if Tenant is diligently attempting to cure the default) as of the time of the giving of the Extension Notice and the commencement date of the Extension Term; and
(iii) Tenant shall be in actual occupancy of fifty (50%) percent or more of the Rentable Area of the Demised Premises as of the time of the giving of the Extension Notice and on the commencement date of the Extension Term, provided that no portion of the Demised Premises that is not occupied by Tenant may be occupied by more than two (2) subtenants.
38.2 The Annual Net Rent for the Premises for the Extension Term shall be an amount equal to the greater of (a) the annual fair market rental value of the Premises (the "Fair Market Rent") on the date that is eighteen (18) months prior to the commencement date of the Extension Term, and (b) the Annual Net Rent payable by Tenant on the Expiration Date or the expiration date of the First Renewal Term, as the case may be (the greater value of (a) and (b) being hereinafter referred to as the "Rental Value"). In determining the Fair Market Rent hereunder, the arbitrators shall consider all then relevant factors. Landlord shall notify Tenant of its determination of the Fair Market Rent for the Premises (the "Rent Notice") within thirty (30) days after receipt of the Extension Notice.
38.3 In the event Tenant gives the Extension Notice in accordance with the provisions of Section 40.1 hereof and Tenant disagrees with the determination of Fair Market Rent set forth in the Rent Notice, Tenant shall notify Landlord of such fact in writing within fifteen (15) days after receipt of a Rent Notice, and Landlord and Tenant will, within thirty (30) days after Lessee's receipt of such Rent Notice, use reasonable efforts to mutually agree on the Fair Market Rent for the Premises. If Landlord an...
Extensions of Term. For purposes of this Agreement, September 1, 2012 and each September 1 thereafter shall be referred to as an “Anniversary Date,” and the one-year period from each Anniversary Date to the next shall be referred to as a “Contract Year.” On each Anniversary Date, beginning September 1, 2012, unless either party to this Agreement has notified the other in writing not less than six (6) months prior to such Anniversary Date of that party’s intention to allow this Agreement to expire and not be renewed at the end of the then-current Term, the Term shall automatically be extended for one Contract Year on and from the applicable Anniversary Date.
