Lease Extensions and Renewals Sample Clauses

Lease Extensions and Renewals. Notwithstanding anything to the contrary in the EOG JOA, ZaZa shall pay for Quantum’s pro rata share of all lease extensions and renewals with respect to EOG Leases expiring in calendar year 2014 in which either ZaZa or Quantum elects to participate pursuant to the EOG JOA. Notwithstanding the foregoing, ZaZa shall have no obligation to renew, extend or maintain any EOG Lease that EOG has not elected to renew, extend or maintain.
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Lease Extensions and Renewals. (a) Some of the Leases have defined terms with extension or renewal rights. Ring shall notify the Target Shareholders, as provided in Section 14.3 at least sixty (60) days prior to the deadline for exercising an extension or renewal right granted under each of the Leases whether or not Ring intends to exercise such right. If Ring desires to exercise such extension or renewal rights, overriding royalty interests shall continue on such extended and renewed Leases. If Ring notifies the Target Shareholders that it does not intend to exercise its extension or renewal right under any Lease, the Target Shareholders (or their designee) may elect to exercise such right for their own benefit and Ring agrees to assign such expiring Lease to the Target Shareholders (or their designee) at no cost to the Target Shareholders (or their designee). Notwithstanding anything to the contrary herein, the terms and conditions of this Section 11.4(a) shall not apply to any Leases with termination dates within ninety (90) days of the Closing Date. (b) With respect to any Leases which expire during the six (6) month period following the Closing Date, and provided that Ring provides notice to the Target Shareholders of its desire to extend or renew any such Lease, the Target Shareholders hereby agree to take all actions and pay such amounts as may be necessary in order to extend or renew such Leases on behalf of Ring (i.e., such extension or renewal shall be in Ring’s name and for Ring’s benefit), and Ring shall promptly reimburse the Target Shareholders for any lease bonus or other amount paid by the Target Shareholders to lessors for such extensions or renewals, plus actual out-of-pocket expenses incurred by the Target Shareholders related thereto. The Target Shareholders acknowledge and agree that other than the reimbursement provided above, they shall not be entitled to any compensation or payment for any such services or efforts rendered for the benefit of Ring. (c) Should Ring, it’s successors or assigns, elect not to extend or renew any Lease subject to this Agreement, the Target Shareholders (or their designee) shall be free of any and all obligations to Ring under this Agreement and any other agreements of whatsoever nature in regards to said Lease, and may purchase or renew said Lease free and clear of any and all obligations to Ring. (d) In the event Ring, it’s successors or assigns, renews any Lease hereunder, all previously existing overriding royalty interest owners sh...
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Lease Extensions and Renewals. The Company shall use commercially reasonable efforts to renew or extend each of the Leases set forth on Section 5.17 of the Disclosure Schedules on the terms set forth in Section 5.17 of the Disclosure Schedules.
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Related to Lease Extensions and Renewals

  • Lease Extension Lessee may request Lessor to extend the original Scheduled Expiration Date of each Lease Agreement for an additional period of three (3) years by appropriately completing, executing and delivering to Agent a written request in the form of Exhibit G(2), together with an attachment thereto setting forth the terms upon which Lessee would propose for the requested extension (a "Lease Extension Request"). Lessee shall deliver each Lease Extension Request to Agent not more than twelve (12) months and not less than nine (9) months before the original Scheduled Expiration Date. Agent shall promptly deliver to Lessor and each Participant three (3) copies of each Lease Extension Request received by Agent. If Lessor or a Participant, in its sole and absolute discretion, consents to a Lease Extension Request, such Person shall evidence such consent by executing and returning two (2) copies of such Lease Extension Request to Agent not later than the last Business Day which is not less than seven (7) months prior to the original Scheduled Expiration Date for the applicable Lease Agreement. Any failure by Lessor or any Participant so to execute and return a Lease Extension Request shall be deemed a denial thereof. If Lessee shall deliver a Lease Extension Request to Lessor pursuant to the first sentence of this Subparagraph 2.09(b), then not later than the last Business Day which is not less than six (6) months prior to the original Scheduled Expiration Date for the applicable Lease Agreement, Agent shall notify Lessee, Lessor and the Participants in writing whether (i) Agent has received a copy of the Lease Extension Request executed by Lessor and each Participant, in which case the definition of "Scheduled Expiration Date" set forth in Subparagraph 2.02(a) of the applicable Lease Agreement shall be deemed extended to the date which is three (3) years after the original Scheduled Expiration Date (subject to the receipt by Agent of any amounts payable by Lessee in connection with such extension), or (ii) Agent has not received a copy of the Lease Extension Request executed by Lessor and each Participant, in which case such Lease Extension Request shall be deemed denied. Lessee acknowledges that neither Lessor nor any Participant has promised (either expressly or implicitly), or has any obligation or commitment, to extend or consent to the extension of the Scheduled Expiration Date for either Lease Agreement at any time.

  • Term of Agreement and Renewals The Agreement with TIPS is for approximately three (3) years with an option for renewal for an additional one

  • Term and Renewals This Agreement is effective February 1, 2017 (“Effective Date”) and will continue for three (3) years. The Agreement may be renewed by Citizens for one (1), three (3) year renewal period upon prior written notice to Firm.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

  • No Extensions The period of time within which the Extension Right may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Extension Right.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Extensions and Waivers At any time prior to the Closing, the parties hereto entitled to the benefits of a term or provision may (a) extend the time for the performance of any of the obligations or other acts of the parties hereto, (b) waive any inaccuracies in the representations and warranties contained herein or in any document, certificate or writing delivered pursuant hereto, or (c) waive compliance with any obligation, covenant, agreement or condition contained herein. Any agreement on the part of a party to any such extension or waiver shall be valid only if set forth in an instrument or instruments in writing signed by the party against whom enforcement of any such extension or waiver is sought. No failure or delay on the part of any party hereto in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty, covenant or agreement.

  • Time Extensions 2.03.1 If Contractor requests an extension of time to complete its performance, then the Director, in consultation with the CPO, may, in his or her sole discretion, extend the time so long as the extension does not exceed 90 days. The extension must be in writing but does not require amendment of this Agreement. Contractor is not entitled to damages for delay(s) regardless of the cause of the delay(s).

  • Assignments and Subleases A. The Concessionaire shall not assign this Lease in whole or in part, nor sublet all or any part of the Properties, such as vending and game machines, without first obtaining the written consent of the Director. In the event the Director consents to any such assignment or sublease, the Concessionaire shall remain primarily liable for the payments herein provided, unless expressly provided otherwise by the written consent of the Director. This prohibition against assigning or subletting shall be construed to include a prohibition against any assignment or subletting created by operation of law. If this Lease is assigned, or if the Properties or any part thereof is underlet or occupied by anybody other than the Concessionaire without the consent of the Director as hereinabove provided, the Department may collect rent from the assignee, undertenant, or occupant, and apply the net amount collected to the rent herein reserved, but no such assignment, underletting, occupancy or collection shall be deemed a waiver of this covenant, or the acceptance of the assignee, undertenant or occupant as the Concessionaire, or a release of the Concessionaire from further performance by the Concessionaire of the terms contained in this Lease. B. Notwithstanding any assignment or sublease, the Concessionaire shall remain fully liable on this Lease and shall not be released from performing any of the terms, covenants, and conditions of this Lease, including payment terms as specified herein based on total dollar revenues, including the total sale amount of consigned items.

  • Renewal, Extension or Rearrangement All provisions of this Agreement and of any other Financing Documents relating to the Notes or other Lender Indebtedness shall apply with equal force and effect to each and all promissory notes hereafter executed which in whole or in part represent a renewal, extension for any period, increase or rearrangement of any part of the Lender Indebtedness originally represented by the Notes, or of any part of such other Lender Indebtedness.

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