LEASE RENEWAL. (a) If Lessee elects, or is deemed to elect, the Subsequent Renewal Option for a Lease, then such Lease (with respect to all, but not less than all, of the Equipment under such Lease) shall be extended for such term as Lessor and Lessee mutually agree, but not less than twelve (12) months (each such term, a “Subsequent Renewal Term”), commencing on the day following the last day of the Initial Renewal Term or the prior Subsequent Renewal Term, as applicable. Rent payable during any Subsequent Renewal Term shall be the Fair Market Rental Value for the Equipment as determined below. The commencement of any Renewal Term is conditioned upon the counterparty to any Project Document (including the Power Purchase Agreement) renewing the terms of such Project Document with respect to the relevant Equipment, upon the CAAA (as defined in the Master Purchase Agreement) remaining in full force and effect, and otherwise upon mutually agreeable Lease terms between Lessor and Lessee.
(b) The Fair Market Rental Value (as defined below) of the Equipment, as of the commencement of the Subsequent Renewal Term of any Lease, shall be determined by agreement of Lessor and Lessee within sixty (60) days after receipt by Lessor of the irrevocable notice from the Lessee of its election to renew such Lease, or, if they shall fail to agree within such sixty (60) day period, shall be determined by a qualified, independent appraiser that is a member of the American Society of Appraisers and that is selected by Lessee and approved by Lessor, such approval not to be unreasonably withheld or delayed (the “Appraisal Procedure”), with the fair market rental value as determined by such appraiser to be binding and conclusive on the Parties as the “Fair Market Rental Value” for purposes of such Lease, and the fees and expenses of the appraiser shall be borne by Lessee. The Rent payable during any Subsequent Renewal Term shall be equal to the average of the Rent payable during the twelve (12) month period immediately preceding such Subsequent Renewal Term until the Fair Market Rental Value is determined, at which time the prior Rent payments shall be adjusted to take into account such determination.
(c) The amounts that are payable during any Subsequent Renewal Term as Termination Value shall be determined on the basis of the fair market sales value of the Equipment as of the commencement of such Subsequent Renewal Term and shall be set forth in a schedule to be mutually agreed by Lessor and Le...
LEASE RENEWAL. This Lease does not automatically renew and this Lease automatically terminates on the Lease Termination Date. Lessee may be given an opportunity to sign a new or renewal Lease for another Lease Term and remain in the Premises. If Lessee does not sign a new or renewal Lease, UTA may lease the Premises to another Lessee. In the event Lessee holds over beyond the expiration or sooner termination of this Lease, holdover penalties shall apply in accordance with the Terms and Conditions.
LEASE RENEWAL. Landlord may offer Tenant in good standing an opportunity to continue occupancy of the premises by entering into a new lease agreement as early as November first for August leases:
1) Xxxxxx agrees that the security deposit guaranteeing this Lease shall be held by Landlord as security for any lease signed as a renewal; and
2) All persons listed on new Lease as Tenant hereby accept the premises are in satisfactory condition as renewed.
LEASE RENEWAL. OWNER shall pay AGENT a Lease Renewal Fee as indicated on Schedule B for each negotiation and renewal of an existing lease. If OWNER wants AGENT to refrain from performing a lease renewal, OWNER must notify AGENT in writing at least 120 days prior to the lease expiration.
LEASE RENEWAL. 37 Section 15.1. First Wintergreen Renewal Lease Term.......................... 37 Section 15.2. Second Wintergreen Renewal Lease Term......................... 38 Section 15.3. Fair Market Value Renewal Lease Terms......................... 38 Section 15.4. Renewal Lease Rent for the Renewal Lease Terms................ 39 Section 15.5. Determination of Fair Market Rental Value..................... 39 Section 15.6. Termination Value During Renewal Lease Terms.................. 40 -ii- TABLE OF CONTENTS (continued)
LEASE RENEWAL. The UNIVERSITY is not required to renew this Lease or to allow the LESSEE to continue to occupy the premises beyond the end of the lease term. If the LESSEE wishes to continue to occupy the premises, they shall respond to the UNIVERSITY’s offer for a lease renewal in the affirmative and comply with the UNVERSITY’s instruction for renewal. LESSEEs delinquent in rent three (3) or more times within the lease year may be ineligible for lease renewal.
LEASE RENEWAL. Lessees shall have a right to apply for a renewal subject and the Lessor shall have the right to accept or deny such application at the Lessor’s sole discretion. Application of renewal shall be given in writing 60 days prior to termination of this lease.
LEASE RENEWAL. Renewal of this agreement is at the UNIVERSITY’S sole discretion. Eligibility for renewal is contingent upon evidence of continuing status as a regularly enrolled full-time student for the forthcoming academic year and satisfactory payment history. For all eligible TENANTS, space availability will be a factor. No later than 60 days prior to the expiration date of this lease agreement, TENANT must submit a written request to renew the lease agreement and verify eligibility for continued residency. TENANTS approved for lease renewal must execute a new lease agreement no later than the date stipulated by the UNIVERSITY. Failure to execute a new lease agreement shall be deemed evidence of intent not to renew.
LEASE RENEWAL. When one or more tenants choose to sign the lease for the same premises for another year, the lease is considered "renewed" and occupancy continues, without interruption, for a consecutive 12-month term. Before a lease may be renewed, the incoming and outgoing residents must all sign a Lease Renewal Agreement, agreeing to the following conditions: Rent may increase for the new lease term and will be noted on the new lease. If the rent increases, the tenants will pay the additional damage deposit when the new lease is signed. The prior lease damage deposit is carried over to the new lease. (Damage deposit is equal to one month’s rent.) CBS does not refund individual portions of the damage deposit to those Residents who do not renew the lease. Because the lease is a renewal, CBS does not conduct a move-out inspection, or clean/refurbish the premises before the new Residents move in. The incoming and outgoing residents assume all responsibility for working out a fair exchange of damage deposit. Similarly, the incoming and outgoing Residents should also agree on how the property will be left for the incoming Residents regarding cleaning, damages, etc. Any account balance due at the end of the first lease term carries over to the next lease term and all Residents listed on the new lease are responsible for the balance. The move-in inspection (condition) report on file will be used to determine any damages at lease termination. Unless prior arrangements have been made, all monies must be paid before Move-In. The money you paid when you signed your lease was NOT the first month’s rent. To avoid a Late Fee, check your lease to see when your first rent installment is due.
LEASE RENEWAL. It is hereby expressly agreed that Lessee will give a minimum of sixty (60) days written notice before expiration of this lease as to Lessee’s intention to renew lease or to vacate premises at end of the lease. Is it agreed that if Lessee has not given proper notice to vacate and has refused or otherwise failed to sign the lease, Lessor may at its option evict Lessee or allow Lessee to be considered as “holding over” in a new lease period, in which event Lessee will be bound as if by a lease. If Lessor is not notified in writing at least sixty (60) days in advance of the intent to move the mobile home and if the mobile home is not moved on or before May 1st of the current year, Lessee must pay the entire lease term in advance. Lessor will attempt to rent said lot with due diligence and upon renting said lot will refund to Lessee any unused portion of rent for the remaining rental term.
