Option for a Further Term Sample Clauses

Option for a Further Term. The Council will agree to the Lease being extended for the Further Term if the Tenant: 3.2.1 gives the Council written notice in a form similar to the relevant letter in Annexure D asking to exercise the option to extend the term of the Lease, provided such notice is given not earlier than 6 months nor later than 3 months before the end of the Term (the first and last dates for exercising the option for the Further Term are specified in Item 8); 3.2.2 has remedied any breach of this Lease of which the Tenant has received written notice from the Council; 3.2.3 has not persistently defaulted under this Lease where the Council has given written notice of the defaults; and 3.2.4 complies with all reasonable requirements of the Council.
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Option for a Further Term. The Council may agree, at its sole discretion, to grant to the Licensee a new licence for the Further Term described in Item 11 of the Schedule if the Licenced Area is not required by the Council for any other purpose and if the Licensee: (a) gives to the Council written notice asking for a new licence, not earlier than 6 months or later than 3 months, before the end of the Term (the last date for exercising the option for the Further Term is specified in Item 12 of the Schedule; (b) is not in breach of any of the terms or conditions of this Licence at the date of giving written notice or at the end of the Term; (c) has not persistently defaulted under this Licence throughout the Term; (d) complies with all reasonable requirements of the Council including where the Licensee is a corporation, incorporated association, or other legal entity, procuring such directors, shareholders or members of the Licensee as may be reasonably required by the Council to execute a guarantee and indemnity in a form approved by the Council and providing whatever other form and amount of security the Council may reasonably require; The new licence for the Further Term if granted, will commence on the day after this Licence ends and contain the same terms and conditions as this Licence but with no option for a further term where the last option for the Further Term has been exercised. The Licence Fee and the method to adjust the Licence Fee during the Further Term is specified in Item 8 of the Schedule.
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Option for a Further Term. If a Further Term is specified in Item 7, the Council will grant to the Tenant a new lease for the Further Term if the Tenant:‌ 3.2.1 gives the Council written notice asking for a new lease, not earlier than 6 months or later than 3 months, before the end of the Term (the last date for exercising the option for the Further Term is specified in Item 8); 3.2.2 has remedied any breach of this Lease of which the Tenant has received written notice from the Council; 3.2.3 has not persistently defaulted under this Lease and the Council has given written notice of the defaults; and 3.2.4 complies with all reasonable requirements of the Council including where the Tenant is a corporation, procuring such directors or shareholders of the Tenant as may be reasonably required by the Council to execute the guarantee contained in this Lease. The new lease for the Further Term will commence on the day after this Lease ends and contain the same terms and conditions as this Lease but with no option for a further term where the last option for the Further Term has been exercised. The Rent or the method to be used to review, adjust or increase the Rent during the Further Term is specified in clause 6.
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Option for a Further Term. The Landlord will meet with the Tenant no earlier than 6 months nor later than 3 months prior to the end of this Lease in order for the Landlord to decide whether it will grant a new lease for the Further Term to the Tenant and the Landlord may make this decision in its absolute discretion and subject to such terms and conditions as the Landlord may determine from time to time. The Landlord will grant to the Tenant a new lease for the Further Term if the Tenant: 20.1.1 gives the Landlord written notice asking for a new lease, not earlier than 6 months or later than 3 months before the end of the Term (the last date for exercising the option for the Further Term is specified in Item 10); 20.1.2 is not in breach of any of the terms or conditions of this Lease at the date of giving the written notice or at the end of the Term; 20.1.3 complies with all reasonable requirements of the Landlord; and 20.1.4 pays the Landlord's reasonable costs for the preparation, negotiation and finalisation of the new lease and any guarantee and indemnity. The new lease for the Further Term will commence on the day after this Lease ends and contain the same terms and conditions as this Lease but with no option for a further term where the last option for the Further Term has been exercised. The Rent or the method to be used to adjust the Rent during the Further Term is specified in Item 12.
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Option for a Further Term. Council may, at its complete discretion, grant to the Lessee a new Lease for the Further Term if the Lessee: 14.1.1 gives Council written notice asking for a new Lease, not earlier than 6 months or later than 3 months, before the end of the Term; 14.1.2 is not in breach of any of the terms or conditions of this Lease at the date of giving the written notice or at the end of the Term; 14.1.3 has not persistently defaulted under this Lease throughout the Term; 14.1.4 complies with all reasonable requirements of Council including where the Lessee is a corporation, incorporated association or other legal entity, procuring such directors, shareholders or members of the Lessee as may be reasonably required by Council to execute a guarantee and indemnity in a form approved by Council and providing whatever other form and amount of security Council may reasonably require; and The new Lease for the Further Term will commence on the day after this Lease ends and contain the same terms and conditions as this Lease but with no option for a further term.
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Related to Option for a Further Term

  • Option Period Pursuant to the Contract, the following are the Adjustment Factors for the term ending October 20, 2023: Date Index 1 August 2019 11311.06 3 October 2019 11326.12 6 January 2020 11392.41 7 February 2020 11396.01 8 March 2020 11396.97 9 April 2020 11412.67 10 May 2020 11418.16 11 June 2020 11436.23 12 July 2020 11439.11 Date Index 1 August 2021 12463.13 2 September 2021 12464.55 3 October 2021 12464.94 4 November 2021 12467.32 5 December 2021 12481.82 6 January 2022 12555.55 7 February 2022 12683.97 8 March 2022 12791.43 9 April 2022 12898.96 10 May 2022 13004.47 11 June 2022 13110.50 12 July 2022 13167.84 Adjustment: Third Year Index Average = 12712.8733 = 1.1168 Base Year Index Average 11383.5283 WA−DC−GC03−100120−SWC Original Adjustment Factor x Adjustment = Adjustment Factor through 10/20/23 Normal Working Hours – Prevailing Wage 1.0378 1.1168 1.1590 Other Than Normal Working Hours – Prevailing Wage 1.0638 1.1168 1.1881 Normal Working Hours – Non−Prevailing Wage 1.0357 1.1168 1.1567 Other Than Normal Working Hours – Non− Prevailing Wage 1.0605 1.1168 1.1844 Non Pre−Priced 1.1627 1.0000 1.1627

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Maximum Term of Option Notwithstanding any other provision of this Agreement, this option is not exercisable after the Expiration Date.

  • 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.

  • Grant Term The initial grant funding period for this grant will be twelve (12) months. It is anticipated that the grant funding period will begin September 1, 2020 through August 31, 2021. The grant may be extended for two (2) additional two (2) year periods at HHSC’s sole discretion. Continued funding of a grant is contingent upon the availability of funds and the satisfactory performance of the Successful Respondent during the prior budget period. Funding may vary and is subject to change each renewal period. Reimbursement will only be made for those allowable expenses that occur within the term of the grant. No pre-award spending will be allowed.

  • Additional Termination Rights (a) BMS has the right to terminate this License Agreement upon delivery of written notice to MPP upon the occurrence of any of the following: (i) the failure of MPP to ensure a sufficient supply of the Licensed Products in the formulations and strengths listed in Schedule A to meet substantially the needs in the Territory, other than isolated, temporary shortages of less than 90 days if such shortage is not cured (other than by means of a reallocation of Licensed Products that has the effect of creating shortage elsewhere) with 90 days after written notice to MPP by BMS; (ii) the failure of MPP to comply with BMS's reasonable requests under Sections 5(b) through (c) of this License Agreement; (iii) any failure by the MPP of ensuring compliance with relevant OFAC regulations under Section 2.8 of this License Agreement; (iv) if in the reasonable opinion of BMS, control (through ownership or otherwise) or MPP changes; (b) either of BMS and MPP will have the right to terminate any Sublicense Agreement, upon delivery of written notice to the relevant Sublicensee(s) upon the occurrence of any of the following; (i) the occurrence of any material safety issue that BMS reasonably believes makes it inadvisable to proceed or continue with the commercialization of the Licensed Product in the Territory; (ii) without prejudice to Section 2.7(c), a cross-border diversion of the Licensed Compound and/or Licensed Products whereby any Sublicensee (directly or indirectly or through a Third Party, located in or out of the Territory) uses, offers for sale, sells, has sold Licensed Compound and/or Licensed Products for use in any country outside of the Territory; (iii) any failure by the Sublicensees to comply with the quality requirements under Section 6.2 of this License Agreement; (iv) the failure by the respective Sublicensee to file for registration all of the Licensed Products in the the Territory for all of the formulation and strengths listed in Schedule A within thirty (30) months of the Effective Date of each Sublicense Agreement Agreement; (v) the occurrence of a direct or indirect change of control of Sublicensee that has not been consented to by BMS and MPP in writing; and/or (vi) in the event of any serious or intentional violation of any laws and regulations or misappropriation of a Third Party’s intellectual property rights by a Sublicensee anywhere in the world, which in BMS’s and MPP’s judgment, may reflect unfavorably on BMS, MPP, their reputation or the Licensed Products.

  • Termination Period This Option shall be exercisable for three (3) months after Participant ceases to be a Service Provider, unless such termination is due to Participant’s death or Disability, in which case this Option shall be exercisable for twelve (12) months after Participant ceases to be a Service Provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided in Section 13 of the Plan.

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Early Termination Right Tenant shall have the right, subject to the provisions of this Section 39, to terminate this Lease (“Termination Right”) with respect to the entire Premises only as of July 31, 2021 (“Early Termination Date”), so long as Tenant delivers to Landlord (i) a written notice (“Termination Notice”), of its election to exercise its Termination Right no less than 12 months in advance of the Early Termination Date, and (ii) concurrent with Tenant’s delivery of the Termination Notice to Landlord, an early termination payment equal to the sum of (1) the unamortized amount of the Tenant Improvement Allowance actually disbursed by Landlord as of the Early Termination Date with amortization calculated on a straight line basis from the Commencement Date through the Base Term, (2) all of the unamortized leasing commissions paid by Landlord in connection with this Lease as of the Early Termination Date, with amortization calculated on a straight line basis from the Commencement Date through the Base Term, (3) the unamortized amount as of the Early Termination Date of the Additional Tenant Improvement Allowance actually disbursed by Landlord to Tenant, if any, with amortization calculated on a straight line basis from the Commencement Date through the Base Term, (4) the unamortized amount of the Base Rent that would have been payable during the Abatement Period had such amounts not been abated, with amortization calculated on a straight line basis from the Commencement Date through the Base Term, and (5) an amount equal to 4 months of Base Rent that would have been payable for the 4 months immediately following the Early Termination Date (collectively, the “Early Termination Payment”). If Tenant timely and properly exercises the Termination Right, Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Early Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the Early Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease. If Tenant does not deliver to Landlord the Termination Notice and the Early Termination Payment within the time period provided in this paragraph, Tenant shall be deemed to have waived its Termination Right and the provisions of this Section 39 shall have no further force or effect.

  • Term of Option This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement.

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