LLC Lease Extension Sample Clauses

LLC Lease Extension. The lease for the PMI business premises (the “Lease”) shall be extended by the LLC such that the Lease will terminate seven (7) years from the Closing. The extended Lease shall contain the same cost-of-living increases formula and all of the other provisions contained in the original Lease.
Sample 1
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LLC Lease Extension. The LLC Lease Extension as provided for in Paragraph 5.3 shall be executed in duplicate original copies by the parties and delivered to the Escrow Agent. At the Closing Escrow Agent shall deliver an original executed copy of the LLC Lease Extension to the parties thereto. If any of the conditions described in Paragraph 6.5 are not satisfied and removed by December 12, 2005 (unless otherwise provided for herein), any party has the right to terminate this Agreement and in such event PMI shall retain the Xxxxxxx Money and the parties shall not have any further obligations hereunder. Notwithstanding the foregoing, if the Agreement is not terminated and these conditions are still not satisfied and removed by December 20, 2005, the Xxxxxxx Money shall be retained by JPM and PLNI shall reimburse PMI for all reasonable costs and expenses incurred by PMI in connection with the due diligence and preparation of this Agreement, including reasonable attorney fees and reasonable accounting fees, and thereafter, this Agreement shall terminate and the parties shall have no further obligations to each other under this Agreement.
Sample 1

Related to LLC Lease Extension

  • Lease Extension If this Lease shall not have been terminated --------------- pursuant to any provisions hereof and there is no Material Breach (as defined herein) by Tenant hereunder at the time set for exercise of the Extension Terms (as herein defined) and at the time set for commencement thereof, then Tenant may, at Tenant's option, extend the term of this Lease for five (5) successive additional terms of four (4) years each (each an "Extension Term," collectively the "Extension Terms") commencing on the expiration of the original term, or the immediately preceding Extension Term, as the case may be. Tenant may exercise such option by giving Landlord written notice at least ten (10) months prior to the expiration of the original or the immediately preceding Extension Term, as the case may be. Upon the giving by Tenant to Landlord of such written notice and the compliance by Tenant with the foregoing provisions of this Paragraph 15, this Lease shall be deemed to be automatically extended upon all the Covenants, agreements, terms, provisions and conditions set forth in this Lease, except that Base Rent for each such Extension Term shall be as provided on Exhibit D. If Tenant fails or omits to so give to Landlord the written notice referred to above, Landlord shall provide Tenant with written notice of Tenant's failure to exercise the Extension Term, and upon receipt of such notice, Tenant shall be allowed fifteen (15) days to exercise the extension option allowed for herein. If Landlord fails to provide such notice, Tenant's renewal option shall expire upon the expiration of the then current term. Failure to respond to Landlord's notice within such fifteen (15) days shall be deemed to be a waiver by Tenant of its extension option hereunder.

  • Ground Lease Reserved.

  • Operating Lease The parties hereto intend that this Lease shall be deemed for all purposes to be an operating lease and not a capital lease.

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • Existing Lease Except to the extent specifically amended hereby, all terms and conditions of the Lease remain in full force and effect. [SIGNATURE PAGE TO FIRST AMENDMENT TO LEASE]

  • 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.

  • Triple Net Lease Landlord and Tenant acknowledge that, to the extent provided in this Lease, it is their intent and agreement that this Lease be a “TRIPLE NET” lease and that as such, the provisions contained in this Lease are intended to pass on to Tenant or reimburse Landlord for the costs and expenses reasonably associated with this Lease, the Building and the Project, and Tenant’s operation therefrom to the extent provided in this Lease. To the extent such costs and expenses payable by Tenant cannot be charged directly to, and paid by, Tenant, such costs and expenses shall be paid by Landlord but reimbursed by Tenant as Additional Rent.

  • Modification, Extension The issuance of any supplement, modification, amendment, renewal, or extension to 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.

  • Amended Lease If: (i) Tenant fails to timely deliver a Space Acceptance Notice, or (ii) after the expiration of a period of 10 days after Landlord’s delivery to Tenant of a lease amendment or lease agreement for Tenant’s lease of the Available Space, no lease amendment or lease agreement for the Available Space acceptable to both parties each in their sole and absolute discretion, has been executed, Tenant shall be deemed to have waived its right to lease such Available Space.

  • Lease Amendment Upon request by Landlord or Tenant made on or following the Renewal Term Commencement Date, the requested party will execute, acknowledge and deliver to the requesting party an amendment to this Lease setting forth the Renewal Term Commencement Date, Fixed Rent for the Renewal Term, and the Renewal Term Expiration Date. The failure of either party to execute and deliver such an amendment shall not affect the rights of the parties under this Lease.

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