INITIAL LEASE TERMS CO-TERMINOUS Sample Clauses

INITIAL LEASE TERMS CO-TERMINOUS. It is acknowledged that it is the -------------------------------- intention of the parties that the initial Term or this Lease be co-terminous with the initial term of the Macara B Lease such that the initial terms of both leases expire on the same date; provided, however, the termination of this Lease resulting from the terms and conditions stated under Paragraph 21 ("Destruction") or Paragraph 22 ("Eminent Domain") shall not result in a termination of the Macara B Lease. It is hereby agreed that following the date upon which the commencement date of the Macara B Lease becomes established, the initial Term of this Lease shall be extended to coincide with the termination date of the Macara B Lease ("Extension Period"), however, in no event will the Term of this Lease be for a period of less than five (5) years and six (6) months. As soon as the parties are able to implement the provisions of this Paragraph because the commencement date of them Macara B Lease has been determined, the parties shall execute an amendment to this Lease extending the initial Term of this Lease to be co- terminous with the initial termination date of the Macara B Lease. The monthly Basic Rent during the Extension Period shall be increased by $.05 per square foot on the commencement date of said Extension Period. For example, if the Macara B Lease commences on the MACARA A projected lease commencement date of May 1, 1997, and this Lease commences on March 1, 1997, the initial Term of this Lease shall be extended by two months and the monthly Basic Rent during the Extension Period shall be S136,080.00 ($2.05 + $0.05 per square foot x 64,800 square feet = $136,080.00). EXCEPT AS MODIFIED HEREIN, all other terms, covenants, and conditions of said May 21, 1996 Lease Agreement shall remain in full force and effect.
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Related to INITIAL LEASE TERMS CO-TERMINOUS

  • Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.

  • Lease Agreement On the terms stated in this Lease, Landlord leases the Premises to Tenant, and Tenant leases the Premises from Landlord, for the Term beginning on the Commencement Date and ending on the Termination Date unless extended or sooner terminated pursuant to this Lease.

  • Supplemental Lease Agreement No 2, dated June 28, 1999, by and between Hub Realty Funding, Inc. (“Owner/Lessor”) and the United States of America (“Government/Lessee”).

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  • Extension of Lease Term The Original Lease Term is hereby extended for a period of eighteen (18) months continuing through and including November 30, 2022 (the “Extension Term” and the Original Lease Term as so extended by the Extension Term, the “Lease Term”).

  • Agreement to Lease Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, according to the terms and conditions set forth herein, the Premises.

  • Term of Agreement; Amendment; Assignment A. This Agreement shall become effective with respect to each Fund listed on Exhibit A hereof as of the date hereof and, with respect to each Fund not in existence on that date, on the date an amendment to Exhibit A to this Agreement relating to that Fund is executed. Unless sooner terminated as provided herein, this Agreement shall continue in effect for two years from the date hereof. Thereafter, if not terminated, this Agreement shall continue in effect automatically as to each Fund for successive one-year periods, provided such continuance is specifically approved at least annually by: (i) the Trust’s Board, or (ii) the vote of a “majority of the outstanding voting securities” of a Fund, and provided that in either event, the continuance is also approved by a majority of the Trust’s Board who are not “interested persons” of any party to this Agreement, by a vote cast in person at a meeting called for the purpose of voting on such approval. B. Notwithstanding the foregoing, this Agreement may be terminated, without the payment of any penalty, with respect to a particular Fund: (i) through a failure to renew this Agreement at the end of a term, (ii) upon mutual consent of the parties, or (iii) upon not less than 60 days’ written notice, by either the Trust upon the vote of a majority of the members of its Board who are not “interested persons” of the Trust and have no direct or indirect financial interest in the operation of this Agreement, or by vote of a “majority of the outstanding voting securities” of a Fund, or by the Distributor. The terms of this Agreement shall not be waived, altered, modified, amended or supplemented in any manner whatsoever except by a written instrument signed by the Distributor and the Trust. If required under the 1940 Act, any such amendment must be approved by the Trust’s Board, including a majority of the Trust’s Board who are not “interested persons” of any party to this Agreement, by a vote cast in person at a meeting for the purpose of voting on such amendment. In the event that such amendment affects the Advisor, the written instrument shall also be signed by the Advisor. This Agreement will automatically terminate in the event of its “assignment.” C. As used in this Section, the terms “majority of the outstanding voting securities,” “interested person,” and “assignment” shall have the same meaning as such terms have in the 1940 Act. D. Sections 7 and 8 shall survive termination of this Agreement.

  • EFFECTIVE DATE; TERM OF AGREEMENT This Agreement is effective as of the Effective Date and shall continue in effect until the Recipient has submitted its final report to the County, except that the Recipient’s pubic records and audit cooperation requirements shall survive the expiration or termination of this Agreement. Any Grant Funds not expended and submitted to the County for reimbursement as of December 30, 2020 will expire and will not be available for future reimbursement to the Recipient.

  • FIRST AMENDMENT TO LEASE This First Amendment to Lease (this “Amendment”), made as of March 16, 2006, by and between ARE-MA REGION NO. 28, LLC, a Delaware limited liability company (“Landlord”) and ALNYLAM PHARMACEUTICALS, INC., a Delaware corporation (“Tenant”).

  • Term of Agreement; Amendment This Agreement shall become effective as of the date first written above and will continue in effect for a period of three (3) years. This Agreement may be terminated by either party upon giving 90 days prior written notice to the other party or such shorter period as is mutually agreed upon by the parties. Notwithstanding the foregoing, this Agreement may be terminated by any party upon the breach of the other party of any material term of this Agreement if such breach is not cured within 15 days of notice of such breach to the breaching party. This Agreement may not be amended or modified in any manner except by written agreement executed by USBFS and the Trust, and authorized or approved by the Board of Trustees.

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