Lease Extension. If this Lease shall not have been terminated --------------- pursuant to any provisions hereof and there is no Material Breach (as defined herein) by Tenant hereunder at the time set for exercise of the Extension Terms (as herein defined) and at the time set for commencement thereof, then Tenant may, at Tenant's option, extend the term of this Lease for five (5) successive additional terms of four (4) years each (each an "Extension Term," collectively the "Extension Terms") commencing on the expiration of the original term, or the immediately preceding Extension Term, as the case may be. Tenant may exercise such option by giving Landlord written notice at least ten (10) months prior to the expiration of the original or the immediately preceding Extension Term, as the case may be. Upon the giving by Tenant to Landlord of such written notice and the compliance by Tenant with the foregoing provisions of this Paragraph 15, this Lease shall be deemed to be automatically extended upon all the Covenants, agreements, terms, provisions and conditions set forth in this Lease, except that Base Rent for each such Extension Term shall be as provided on Exhibit D. If Tenant fails or omits to so give to Landlord the written notice referred to above, Landlord shall provide Tenant with written notice of Tenant's failure to exercise the Extension Term, and upon receipt of such notice, Tenant shall be allowed fifteen (15) days to exercise the extension option allowed for herein. If Landlord fails to provide such notice, Tenant's renewal option shall expire upon the expiration of the then current term. Failure to respond to Landlord's notice within such fifteen (15) days shall be deemed to be a waiver by Tenant of its extension option hereunder.
Lease Extension. If this Lease shall not have been terminated pursuant to any provisions hereof and no Events of Default exist hereunder or under the Note Agreement, then Tenant may, at Tenant's option, extend the term of this Lease for two (2) successive additional terms of five (5) years each (each an "Extension Term," collectively the "Extension Terms") commencing on the expiration of the original term, or the immediately preceding Extension Term, as the case may be. Tenant may exercise such option by giving Landlord written notice at least six (6) months prior to the expiration of the original term or the immediately preceding Extension Term, as the case may be. Upon the giving by Tenant to Landlord of such written notice and the compliance by Tenant with the foregoing provisions of this paragraph, this Lease shall be deemed to be automatically extended upon all the covenants, agreements, terms, provisions and conditions set forth in this Lease, except that Base Rent for each such Extension Term shall be the then fair market value for the Demised Premises.
Lease Extension. The lease can be extended based on the original terms and conditions by contacting LDS and requesting a lease extension.
Lease Extension. The second sentence of Section 13 of the Original Lease is revised to delete the term “six (6) months” and replace it with “twelve (12) months.”
Lease Extension. 7 14. Impositions.............................................................7 15. Insurance...............................................................8 16.
Lease Extension. Lessor and Lessee hereby agree (subject to satisfaction of the conditions specified in Clause 5) to extend the period for which the Aircraft is leased to Lessee pursuant to the Lease from the current Expiry Date to and including February 23, 2003. Accordingly, the Lease is hereby amended (subject to satisfaction of the conditions specified in Clause 5) by deleting the words " the day preceding the numerically corresponding day " through the words " following an Event of Loss " in the definition of "Expiry Date" in Clause 1.1 and replacing them with the words " February 23, 2003 ".
Lease Extension. Tenant may extend the length of this Agreement by contacting Landlord by which is sixty days prior to the expiration of this Agreement. Landlord shall then provide Tenant with a written Lease Extension (the "Extension") detailing the timelines and lease rates to be in effect during the Extension period. Landlord may increase the Lease Rate to reflect current market leasing rates. Lease extensions for period of less than six months typically include an increase in the Lease Rate of at least 10%. Tenant must return a signed copy of the Extension to Landlord within one week of its receipt by Tenant for the Extension to be effective. Landlord, at Landlord's sole option, may accept or deny an Extension request. If an Extension is denied, or Landlord does not receive the Extension form signed by Tenant in the required timeframe, then Tenant must move out at the end of the Leasing Period. In the absence of a signed Extension between Landlord and Tenant, the Lease Rate shall automatically increase by 10% per month, but in no event less than $50 per month.
Lease Extension. Landlord and Tenant hereby agree to extend the Lease Agreement for a period of four years commencing November 1, 1994 under all of the same terms and conditions as set forth in the Lease Agreement except for the rent adjustment set forth in paragraph 2.2 below.
Lease Extension. 6.1. Tenant should provide a 3-month written notice before end of the lease if tenant wishes to extend the lease and parties should negotiate until reaching consensus. If tenant has not provided a written lease extension request 3 months prior to the end of the lease or if consensus is not reached after negotiation, landlord reserves the right to identify new tenants 3 months before the end of the lease. This agreement expires automatically at the end of the lease, no notice needs to be made.
Lease Extension. Pursuant to Paragraph 3.1 of the Lease, the lease term shall be extended for a five (5)- year period commencing January 1, 2004 and expiring December 31, 2008 (hereinafter referred to as “Extension Period”).
