Common use of for Renewal Clause in Contracts

for Renewal. The Tenant shall on renewal pay to the Landlord an additional sum to make up the deposit so as to be equivalent to 3 months' rent and licence fees payable during the Second Renewal Term by procuring the issuance of a replacement bank guarantee in favour of the Landlord by a licenced bank in Hong Kong in a form reasonably approved by the Landlord. If the Tenant shall fail to serve the notice to renew as aforesaid the lease shall terminate and the Tenant shall deliver up vacant possession of the said premises and Licence Space to the Landlord in accordance with the provisions of the lease at the expiration of the First Renewal Term.

for Renewal. The Tenant shall on the renewal of this Lease pay to the Landlord an additional sum to make up the deposit so as to be equivalent to 3 months' rent and licence fees payable during the Second First Renewal Term by procuring the issuance of a replacement bank guarantee in favour of the Landlord issued by a licenced bank in Hong Kong and in a form reasonably approved by the Landlord. If the Tenant shall fail to serve the notice to renew as aforesaid the lease this Lease shall terminate and the Tenant shall deliver up vacant possession of the said premises and Licence Space to the Landlord in accordance with the provisions of the lease this Lease at the expiration of the First Renewal Termsaid term.