Fair Market Renewal Term. Lessee shall have the right to renew this Lease for additional periods of one (1) year or more (provided any such period shall be on six (6) month increments) commencing at the end of the Basic Term or the Fixed Renewal Term for a Basic Rent equal to the fair market rental value of the Aircraft for such period (any such renewal term, a "Fair Market Renewal Term"). Each such option to renew shall be exercised by Lessee providing irrevocable notice at least one hundred twenty (120) days prior to the commencement of such Fair Market Renewal Term.
Appears in 8 contracts
Samples: Lease Agreement (Us Airways Inc), Lease Agreement (Us Airways Inc), Lease Agreement (Us Airways Inc)
