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Lease Renewal Term Sample Clauses

Lease Renewal Term. One (1) additional three (3) year term, on terms and rent adjustment as agreed to by the Parties.
Lease Renewal Term. Commencing as of the Amendment Effective Date, the term of the Lease shall continue for a renewal term indicated below (the "Renewal Term"). Periodic payments under each Lease during Renewal Term will be in the amount indicated below plus any applicable taxes ("Lease Payments"), payable in advance on the 1st day of each month with the first Lease Payment being due on December 1, 2014. Such Lease Payments are for the leasing of the Equipment during the Renewal Term only and any service, maintenance and/or other supplies, consumables and/or products previously provided by any manufacturer, supplier, vendor and/or service providers to the Lessee in conjunction with the leasing of Equipment will no longer be applicable and are not included in the Lease or Lease Payments during the Renewal Term. Renewal Term: 48 months Followed by 12 months Renewal Payment Amount (Lease Payments) $205,000.00 per month $108,308.80 per month
Lease Renewal Term. The Term of this Lease Renewal shall be for a period of two (2) years, beginning on December 1, 2026, and ending on November 30, 2028, unless terminated sooner as provided herein.
Lease Renewal Term. (a) The parties hereto acknowledge and agree that Maxifit, Ltd. and Xxxx Xxxxxx (or any successor landlord, hereinafter, "Landlord") are parties to a certain Lease Agreement dated August 9, 1993 with respect to the Demised Premises occupied by Maxifit, Ltd. in the Browntown Shopping Center, Route 516 and Xxxx Road, Old Bridge, New Jersey (the "Premises") (the "Lease"). The original expiration date of the Lease is November 30, 2003 (the "Lease Expiration Date"). In addition, the Lease contains one (1) five-year renewal term commencing immediately following the expiration of the original Lease Term (the "Renewal Term"). The existing term of the Lease, as extended by the Renewal Term, shall be deemed to constitute the "Extended Term". Maxifit, Ltd. has heretofore exercised its option to extend the Lease for the Renewal Term, and that Landlord has objected in writing to Maxifit, Ltd.'s extension of the Lease for the Renewal Term. (b) Subject to the further terms and conditions of this Agreement, Buyer shall exercise reasonable efforts, and diligently pursue such efforts, to cause Landlord to unequivocally agree in writing, whether pursuant to a written Lease amendment or otherwise, that Maxifit, Ltd. has validly extended the Lease for the Renewal Term. In connection therewith, Buyer may, but shall not be obligated to, commence litigation against Landlord, either before or after the Closing Date, to seek a declaratory judgement or other similar injunctive order that the renewal option has been duly exercised by Maxifit, Ltd., and that the Lease has been extended for the Renewal Term. Such litigation shall be prosecuted by Buyer, in Buyer's sole and absolute discretion, using attorneys selected by Buyer. Sellers agree to cooperate with Buyer in connection therewith, to the extent Seller's cooperation shall reasonably be necessary. The cost of such litigation shall be allocated between Sellers and Buyer pursuant to Section 1.11 of this Agreement. (c) The date which is the EARLIEST of the following dates shall be deemed to be the Lease Renewal Resolution Date: (i) the date upon which Buyer shall enter into an unequivocal written agreement with Landlord, in a form acceptable to Buyer and Buyer's counsel, which acknowledges that the Lease has been extended for the Renewal Term; (ii) the date upon which Landlord and Buyer shall enter into a duly effective written agreement pursuant to which the Lease shall be extended for a term which shall be equal to, or greater th...
Lease Renewal TermThe Lease Renewal Term shall be thirty-six (36) months, commencing on January 1, 2010 and terminating on December 31, 2013.

Related to Lease Renewal Term

  • Renewal Term If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the 0000 Xxx) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

  • LEASE RENEWAL (a) Provided that no Event of Default has occurred and is continuing as at the date of such request, if the Lessee shall, not earlier than 450 days and not later than one year prior to the last day of the Initial Term, request in writing that the Lessor obtain bank borrowings on terms acceptable to it and the Lessee in order to finance the Lessor's ownership of the Property and Equipment during the Renewal Term, the Lessor shall make reasonable efforts to arrange for bank commitments to provide such financing. (b) The Lessor will advise the Lessee and PCS Nitrogen Fertilizer Operations, Inc. in writing not later than 300 days prior to the last day of the Initial Term as to whether it has been able to obtain bank commitments on terms and conditions acceptable to it to finance the Property and Equipment for the period of Renewal Term. In such notice, the Lessor shall identify such terms and conditions. In order to renew the lease of the Property and Equipment for the Renewal Term, the Lessee must notify the Lessor in writing within thirty (30) days of its receipt of the foregoing notice of the Lessor, indicating (i) whether the terms and conditions of such financing are acceptable to it and (ii) whether, if PCS Nitrogen Fertilizer Operations, Inc. does not exercise its Purchase Option or, having exercised such option, PCS Nitrogen Fertilizer Operations, Inc. fails to effect the purchase contemplated thereby, the Lessee agrees to lease the Property and Equipment for the Renewal Term. The notice of the Lessee contemplated by the preceding sentence shall be irrevocable. (c) The lease of the Property and Equipment shall not be renewed for the Renewal Term if (i) the Lessor shall not obtain bank commitments to finance the Property and Equipment on terms and conditions acceptable to it and the Lessee, (ii) the Lessee shall not give the notice of renewal set forth in paragraph (b) above, (iii) PCS Nitrogen Fertilizer Operations, Inc. shall purchase the Property and Equipment pursuant to the exercise of the Purchase Option or (iv) the Lessor and the Lessee shall not have agreed on the Lease Termination Amount for the Renewal Term. (d) The Lessor shall schedule the closing of the financing contemplated by the bank commitments on or before the date which is six (6) months prior to the end of the Initial Term. The Lessor shall notify the Lessee in writing promptly of the closing of such financing or that such financing shall have failed to close on such scheduled date. Upon the date of such closing the Property and Equipment shall, subject to the terms and conditions of this Lease, be leased hereunder for the Renewal Term. If the closing shall not occur on or before the date which is six (6) months prior to the last day of the Initial Term, then the lease of the Property and Equipment shall terminate on the last day of the Initial Term and the Lessee shall comply with its obligations with respect to such termination as set forth in paragraph (b) of Section 13 hereof.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

  • Renewal Terms Immediately following the Initial Term this Agreement shall automatically renew for successive one-year periods (a “Renewal Term”).

  • Non-Renewal Termination If the Agreement expires as set forth in Section 6(g) [Non-Renewal Termination], then, subject to Section 22 [Compliance with Section 409A], in addition to all salary, annual bonuses, expense reimbursements, benefits and accrued vacation days earned by the Executive pursuant to Section 4 through the date of the Executive’s termination of employment, the Executive shall be entitled to the compensation set forth in Sections 8(d)(i) through (v), provided that within sixty days following the Executive’s termination of employment (i) the Executive has executed and delivered the Release to the Company, and (ii) the Release has become irrevocable:

  • CONTRACT RENEWAL PERIOD FURNITURE ADDITIONS/DELETIONS: Contractors wishing to make furniture additions/changes to their contract during the contract period should be aware of the following additions/changes will be allowed only once during a contract period. No changes to discount percentages are allowed during this contract period. Additions/changes must be submitted during the contract renewal period. When requesting additions and/or changes; contractor shall submit a request either by letter or via email which shall include a list of all items being proposed for addition and/or change. Contractor shall submit all required documents supporting any new items. Product literature for all new items shall also be submitted with the request. Contractor is responsible for submitting a complete name, address, email address, phone and fax numbers when a new dealer is added.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Extension Term The Term of this Lease of all of the Premises may be extended for the Extension Term by unconditional written notice from Tenant to Landlord at least nine (9) (but not more than twelve (12)) months before the end of the Initial Term, time being of the essence. If Tenant does not timely exercise this option, or if on the date of such notice or at the beginning of the Extension Term (i) a default by Tenant exists, or (ii) Tenant is not leasing one hundred percent (100%) of the Premises, or (iii) Tenant has made any Transfer under Article 13 (other than a Related Party Transfer), at Landlord’s option upon written notice to Tenant, Tenant’s right to extend the Term of this Lease shall irrevocably lapse and be void and of no further force and effect, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Initial Term. If Tenant fails to timely exercise its rights hereunder, then within seven (7) days of Landlord’s request therefor, Tenant shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant’s failure to exercise (or waiver of) such right, and Tenant’s failure to so execute and deliver such certification shall (without limiting Landlord’s remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the failure or waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. All references to the Term shall mean the [Initial] Term as it may be extended by the Extension Term. The Extension Term shall be on all the same terms and conditions except that the Base Rent for the Extension Term shall be as set forth below.

  • Lease Year Lease Year" means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.