Common use of Option of renewal Clause in Contracts

Option of renewal. 21.1 The Lessee shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 The period for which this lease may be so renewed is (specify period) commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease). 21.3 All the terms of this lease shall continue to apply during the renewal period, save that 21.3.1 the Rent shall be (specify, adapting clause 5.1); and 21.3.2 there shall be no further right of renewal. 21.4 The right of renewal shall be exercised by notice in writing from the Lessee to the Lessor given and received not later than (specify date) (or at least (specify) months/days prior to the date on which the renewal period is to commence), and shall lapse if not so exercised. 21.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 The Lessee may not, however, exercise the right of renewal while in breach or default of any of the terms of this lease. 21.7 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date)), the right of renewal shall lapse and any notice of exercise thereof given prior to such lapsing shall be null and void.

Option of renewal. 21.1 19.1 The Lessee shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 19.2 The period for which this lease may be so renewed is (specify period) commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease). 21.3 19.3 All the terms of this lease shall continue to apply during the renewal period, save that 21.3.1 19.3.1 the Rent rent shall be (specify, adapting clause 5.16.1); and 21.3.2 19.3.2 there shall be no further right of renewal. 21.4 19.4 The right of renewal shall be exercised by notice in writing from the Lessee to the Lessor given and received not later than (specify date) (or at least (specify) months/days prior to the date on which the renewal period is to commence), ) and shall lapse if not so exercised. 21.5 19.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 19.6 The Lessee may not, however, exercise the right of renewal while in breach or default of any of the terms of this lease. 21.7 19.7 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date)), the right of renewal shall lapse and any notice of exercise thereof given prior to such lapsing shall be null and void.

Option of renewal. 21.1 20.1 The Lessee shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 20.2 The period for which this lease may be so renewed is (specify period) months / years commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease). 21.3 20.3 All the terms of this lease shall continue to apply during the renewal period, save that 21.3.1 20.3.1 the Rent shall be (specify, adapting clause 5.1)) clause… ; and 21.3.2 20.3.2 there shall be no further right of renewal. 21.4 20.4 The right of renewal shall be exercised by notice in writing from the Lessee to the Lessor given and received not later than (specify date) (or at least (specify) months/days prior to the date on which the renewal period is to commence), and shall lapse if not so exercised. 21.5 20.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 20.6 The Lessee may not, however, exercise the right of renewal while in breach or default of any of the terms of this lease. 21.7 20.7 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date)), the right of renewal shall lapse and any notice of exercise thereof given prior to such lapsing shall be null and void.

Option of renewal. 21.1 22.1 The Lessee shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 22.2 The period for which this lease may be so renewed is (specify period) commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease). 21.3 22.3 All the terms of this lease shall continue to apply during the renewal period, save that 21.3.1 22.3.1 the Rent rent shall be (specify, adapting clause 5.1); and 21.3.2 22.3.2 there shall be no further right of renewal. 21.4 22.4 The right of renewal shall be exercised by notice in writing from the Lessee to the Lessor given and received not later than (specify date) (or at least (specify) months/days prior to the date on which the renewal period is to commence), and shall lapse if not so exercised. 21.5 22.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 22.6 The Lessee may not, however, exercise the right of renewal while in breach or default of any of the terms of this lease. 21.7 22.7 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date)), the right of renewal shall lapse and any notice of exercise thereof given prior to such lapsing shall be null and void.

Option of renewal. 21.1 The Lessee shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 The period for which this lease may be so renewed is (specify period) commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease). 21.3 All the terms of this lease shall continue to apply during the renewal period, save that 21.3.1 the Rent rent shall be (specify, adapting clause 5.1); and 21.3.2 there shall be no further right of renewal. 21.4 The right of renewal shall be exercised by notice in writing from the Lessee to the Lessor given and received not later than (specify date) (or at least (specify) months/days prior to the date on which the renewal period is to commence), and shall lapse if not so exercised. 21.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 The Lessee may not, however, exercise the right of renewal while in breach or default of any of the terms of this lease. 21.7 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date)), the right of renewal shall lapse and any notice of exercise thereof given prior to such lapsing shall be null and void.

Option of renewal. 21.1 4.1 The Lessee Tenant shall have the right to renew this lease upon the terms and subject to the conditions set out below. 21.2 4.2 The period for which this lease may be so renewed is (specify period( ) commencing on (specify date) (or the date immediately following the date of expiry of the initial term of this lease)years. 21.3 4.3 All the terms of this lease shall continue to apply during the renewal period, save that: 21.3.1 4.3.1 the Rent rent and product lines shall be (specify, adapting clause 5.1); andrenegotiated; 21.3.2 4.3.2 there shall be no further right of renewal; and 4.3.3 the Tenant shall revamp the premises to the satisfaction of the Landlord. 21.4 4.4 The right of renewal shall be exercised by notice in writing from the Lessee Tenant to the Lessor Landlord given and received not later than 6 (specify datesix) (or at least (specify) months/days months prior to the date on which the renewal period is to commence), and shall lapse if not so exercised. 21.5 If the right of renewal is duly exercised, this lease shall be renewed automatically and without the need for any further act of the parties. 21.6 4.5 The Lessee Tenant may not, however, not exercise the right of renewal while in breach or default of any of the terms of this lease., and if so, then the renewal will be invalid 21.7 4.6 If this lease does not endure at least for the full term for which it is initially contracted (or until (specify date))contracted, the right of renewal shall lapse and any notice of or exercise thereof given prior to such lapsing shall be null and void. 4.7 If the option of renewal is duly exercised, the main agreement shall be renewed automatically and without the need for any acts of the parties.