OPTION FOR ADDITIONAL TERMS. 2 A..........................................................................A-1 APPENDIX A - SPECIAL TERMS AND CONDITIONS..................................A-1
OPTION FOR ADDITIONAL TERMS. Buyer, at its option, may elect to extend the term of this Contract for each Unit individually by delivery of written notice to Seller not later than six (6) months prior to the date scheduled for the first Major Inspection of such Covered Unit, but in no event shall any such election be made more than twenty-four (24) years after the Performance Start Date for such Unit. If Buyer makes the election to extend the term of this Contract with respect to a Unit, the term shall be extended until the completion of the second Major Inspection for such Covered Unit ("Extended Term"), but not more than thirty (30) years after the Performance Start Date for such Unit, and upon electing an Extended Term for the first Unit, Buyer shall purchase from Seller the additional Initial Spares described in Appendix __ at the prices described in such Appendix. In the event that this Contract is scheduled to expire with respect to a Covered Unit at the end of the Initial Term or the Extended Term, as the case may be, because of the passage of thirty (30) years after the Performance Start Date for such Unit and at a time when Buyer has not received the first or second Major Inspection for such Covered Unit, as applicable, then Buyer shall have the option, to be exercised in writing not later than three (3) months prior to the date which is thirty (30) years after the Performance Start Date for such Unit, to extend such term for such Unit for an additional period ("Final Term") until the completion of the next Hot Gas Path Inspection or Major Inspection for such Unit, whichever occurs first; provided that if the Final Term expires upon the completion of a Hot Gas Path Inspection and the first Major Inspection has not yet been completed for such Unit, Buyer shall have the option, to be exercised in writing not later than three (3) months prior to the completion of the Hot Gas Path Inspection, to extend the Final Term for such Unit until the completion of the first Major Inspection for such Unit. This Long Term Parts & Long Term Services Contract is signed by the Parties' authorized representatives on the date first stated above. GENERAL ELECTRIC TENASKA, INC. INTERNATIONAL INC. By: /s/_________________________ By: /s/________________________ Name: Xxxxx X. Xxxxx Name: Xxxxxxx X. Xxxxxx Title: General Mgr - Operations Title: Vice President APPENDIX A SPECIAL TERMS AND CONDITIONS
OPTION FOR ADDITIONAL TERMS. Provided that Tenant has not defaulted under any of the terms, covenants or conditions of this Lease, and further provided that Tenant shall give Landlord written notice not less than THREE (3) months prior to the expiration date of the base term of this Lease, Tenant shall have the option to renew this Lease for ONE (1) additional term of ONE (1) year, on the same covenants and conditions as herein provided, provided however that the annual minimum rent shall be increased to $39,000.00 ($3,250.00 per month, plus applicable tax). Provided that Tenant has not defaulted under any of the terms, covenants or conditions of this Lease within the first option period as set forth above, and further provided that Tenant shall give Landlord written notice not less than THREE (3) months prior to the expiration date of the first option term of this Lease, Tenant shall have the option to renew this Lease for ONE (1) additional term of ONE (1) year, on the same covenants and conditions as herein provided, provided however that the annual minimum rent shall be increased to market value or as negotiated between the parties.
OPTION FOR ADDITIONAL TERMS. Provided that Tenant has not defaulted under any of the terms, covenants or conditions of this Lease, and further provided that Tenant shall give Landlord written notice not less than one (1) year prior to the expiration date of the base term of this Lease (or any additional term), Tenant shall have the option to renew this Lease for four (4) additional terns of five (5) years each, on the same covenants and conditions as herein provided, and on the same schedule as shown in Section 10 above.
