Leasing Commissions – Options, Rights, Expansions and Renewals Sample Clauses

Leasing Commissions – Options, Rights, Expansions and Renewals. Any commission payable in connection with a lease renewal, extension or expansion occurring, whether or not pursuant to any lease option or right, shall be payable only at such time in the event such option or right is exercised or the lease is renewed and shall be computed as follows: (a) In the event of the extension or renewal of a lease for the same space then leased by an existing tenant, whether or not pursuant to an option (except for existing tenants with a fixed-rate option that does not require negotiation) or right of first refusal, the leasing commission shall be paid in an amount equal to the sum of two percent (2%) of the aggregate rents payable during the first five years of the extended lease term plus one percent (1%) of the aggregate rents payable during the subsequent years of the extended lease term. (b) In the event of the leasing of additional space by a tenant with whom Owner has previously executed a lease, whether or not pursuant to an option or right of first refusal, the leasing commission shall be paid in an amount equal to the sum of three percent (3%) of the aggregate rents payable during the first five years of the expansion lease term plus one nad one half percent (1.5%) of the aggregate rents payable during the subsequent years of the expansion lease term.
Sample 1
AutoNDA by SimpleDocs

Related to Leasing Commissions – Options, Rights, Expansions and Renewals

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

  • Lease Amendments To Agent, within two (2) Business Days after receipt thereof, copies of all material amendments to real estate leases.

  • 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.

  • Term and Renewal of Agreements The Agreement with TIPS is for three (3) years with an option for renewal for an additional one (1) consecutive year if both parties agree. TIPS may or may not exercise the one-year extension beyond the base three-year term and whether or not to offer the extension is at the sole discretion of TIPS. The scheduled Agreement termination date shall be the last date of the month of the last month of the agreement’s legal effect. Example: If the agreement is scheduled to end on May 23, the anniversary date of the award, it would actually be extended to May 31 in the last month of the last year the contract is active. No Agreement for goods or services with a TIPS Member by the awarded vendor named in this Agreement that results from the solicitation award named in this Agreement, may incorporate an automatic renewal clause that exceeds month to month terms with which the TIPS Member must comply. All renewal terms incorporated in an Agreement by the vendor with the TIPS Member shall only be valid and enforceable when the vendor receives written confirmation by purchase order, executed Agreement or other written instruction issued by the TIPS Member for any renewal period. The purpose of this clause is to avoid a TIPS Member inadvertently renewing an Agreement during a period in which the governing body of the TIPS Member has not properly appropriated and budgeted the funds to satisfy the Agreement renewal. This term is not negotiable and any Agreement between a TIPS Member and a TIPS awarded vendor with an automatic renewal clause that conflicts with these terms is rendered void and unenforceable.

  • Amendments to Employment Agreement Effective as of the date hereof, the Employment Agreement shall be amended as provided in this Section 1.

  • 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.

  • MODIFICATIONS TO LEASE Notwithstanding any other provisions in the Lease, during the term of this Contract Owner and Tenant mutually agree that:

  • Compensation Program Amendments Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

  • Effective Date Duration and Renewal This Agreement shall become effective as of May 1, 2010. Unless terminated as provided in Section 14 below, this Agreement shall continue in effect as to each Fund until July 31, 2011 and thereafter from year to year only so long as such continuance is specifically approved at least annually (a) by a majority of those trustees who are not interested persons of CAT or of Columbia WAM, voting in person at a meeting called for the purpose of voting on such approval, and (b) by either the Board or vote of the holders of a “majority of the outstanding shares” of that Fund (which term as used throughout this Agreement shall be construed in accordance with the definition of “vote of a majority of the outstanding voting securities of a company” in Section 2(a)(42) of the 1940 Act).

  • Amendments to Lease The Lease is hereby amended as follows:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!