Common use of Lease Extension Clause in Contracts

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. 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 Xxxxxx 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 LandlordXxxxxxxx'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.