OPTION TO RENEW AGREEMENT Sample Clauses

OPTION TO RENEW AGREEMENT. The Director is hereby authorized to extend the Term of this Agreement upon the same terms and conditions for no more than two (2) additional one-year terms after the Term, provided that (i) ANAHEIM sends written notice to CONSULTANT of its election to renew the Agreement no later than thirty (30) days prior to the expiration of the Agreement, (ii) CONSULTANT provides ANAHEIM with written acceptance of the renewal within fifteen (15) days of ANAHEIM's notice to CONSULTANT of its election to renew, and (iii) the City Council of the City of Anaheim approves an appropriation of funds for this Agreement in its annual budget.
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OPTION TO RENEW AGREEMENT. To renew your Agreement, a Renewal Fee will need to be paid to TGE prior to the end of the current Agreement term to extend it for the same period of time. This is to cover upgrades and maintenance to plant and equipment. The Renewal Fee will double for each subsequent renewal because maintenance costs will rise and the plant and equipment will be ageing.
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OPTION TO RENEW AGREEMENT. Provided the LIbrary shall not be in default of the terms of this Agreement, the Library may, by giving the City written notice not later than one (1) year prior to the expiration of this Agreement and/or one (1) year prior to the expiration of any renewal, exercise its option to renew this Agreement for a period of five (5) years, with only two (2) five (5) year renewals by the Library being permitted, said renewals being under the same terms and conditions as contained in this Agreement, except that for any renewal periods, the fee to be paid by the Library to the City shall be modified to an amount mutually agreeable to the parties, and in the event the parties are not able to agree to a new fee amount, the renewal will not become effective and this Agreement will terminate as provided herein.
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OPTION TO RENEW AGREEMENT. If item 10 of the Part A specifies a Further Term then on the condition that the Tenant has,
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OPTION TO RENEW AGREEMENT. This Agreement may be renewed by the Parties (subject to the provisions of Section 7 hereof) for two (2) one-year terms, provided that
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OPTION TO RENEW AGREEMENT. 8 At the conclusion of the base three-year period, ANAHEIM shall have the 9 option, in its sole discretion, to renew the Agreement for two additional one-year terms under the 10 same terms and conditions set forth herein. ANAHEIM shall notify PSAV of its intent to 11 exercise its option to renew the Agreement at least one hundred twenty (120) calendar days prior 12 to the end of the base or previous option period.
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OPTION TO RENEW AGREEMENT. At the end of this Agreement, the parties may opt to renew this Agreement for another year. Both parties must agree to renew it for it to be binding. Executed in Greenville, South Carolina as of the 17th day of April, 2003. /s/ XXXX XXXXXXX XXXX XXXXXXX VP of Marketing, Datastream Systems, Inc. Executed in Greenville, South Carolina as of the 17th day of April, 2003. DATASTREAM SYSTEMS, INC. By: /s/ XXXXX XXXXXXXXX XXXXX XXXXXXXXX President & CEO
Sample 1
OPTION TO RENEW AGREEMENT. Subject to the due performance of its obligations hereunder and to the further terms and conditions of this Section, Gargoyles shall have the first option to negotiate a renewal of this Agreement for an additional term of five (5) years, commencing July 1, 2002 (the "Renewal Term"). Gargoyles shall exercise such option by providing GB Golf with written notice of its intention to negotiate a renewal of this Agreement, which notice shall be given during the period commencing January 1 and ending June 30, 2000, unless otherwise agreed in writing by GB Golf. If such option is timely given by Gargoyles, GB Golf shall negotiate in good faith with Gargoyles the terms and conditions to be applicable under this Agreement during the Renewal Term, including without limitation the Minimum Annual Retainers to be paid by Gargoyles under Schedule "4", which negotiations shall be exclusive for a period of six (6) months following the date of GB Golf's receipt of such notice. In the event that Gargoyles fails to exercise its option as required by this Section, or if the parties are unable to reach a mutual agreement regarding any material term or condition to be applicable during the Renewal Term during the exclusive negotiation period, GB Golf shall be free to negotiate and enter into agreements with third parties regarding the manufacture, distribution and marketing of products similar to the Licensed Products, provided that no such agreement shall permit the introduction of such products into any part of the Territory prior to the expiration or earlier termination date of this Agreement without the prior express written consent of Gargoyles, which consent may be withheld in its discretion to protect its exclusive marketing rights under this Agreement with respect to the Licensed Products.
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Related to OPTION TO RENEW AGREEMENT

  • OPTION TO RENEW Provided Tenant is not, and has not been (more than two (2) times), in default under any of the terms and conditions contained herein, Tenant shall have two (2) additional consecutive five (5) year options to renew and extend the Rental Term as provided herein (“Option”). The Option shall only be exercised by Tenant delivering written notice thereof to Landlord no earlier than the date which is twelve (12) months prior to the expiration of the Rental Term and no later than the date which is nine (9) months prior to the expiration of the Rental Term (the “Option Notice”). The Base Monthly Rent during the first year of each extension periods shall be the lesser of: (i) the then current Fair Market Rate (as defined) for comparable space within the Project, and (ii) the Base Monthly Rent then in effect for the Leased Premises during the last month of the initial Rental Term (increasing each year thereafter by 3%, compounded). “Fair Market Rate” means the market rate for rent chargeable for the Leased Premises based upon the following factors applicable to the Leased Premises or any comparable premises: rent, escalation, term, size, expense stop, tenant allowance, existing tenant finishes, parking availability, and location and proximity to services. Within thirty (30) days of Option Notice, Tenant shall notify Landlord of Tenant’s option of Fair Market Rate for the applicable renewal period. If Landlord disagrees with Tenant’s opinion of the Fair Market Rate, Landlord shall notify Tenant of Landlord’s opinion of Fair Market Rate within fifteen (15) days after receipt of Tenant’s opinion of Fair Market Rate (“Landlord’s Value Notice”). If the parties are unable to resolve their differences within thirty (30) days thereafter, Landlord or Tenant, at its sole option, may terminate this Lease, effective as of the last day of the then-current Rental Term. Alternatively, Tenant and Landlord may mutually agree to submit the determination of Fair Market Rate to a “Market Assessment Process,” as provided in Exhibit “F” – Market Assessment Process.

  • Option to Extend Provided Tenant is not in default in its obligations hereunder beyond any applicable cure period, Tenant shall have the option to extend this Lease for one additional successive term (hereinafter referred to, as applicable, as the “Extended Term”) commencing immediately upon the expiration of the initial Term hereof and continuing for a period of five (5) years, provided that Tenant proceeds strictly in accordance with the provisions of this Article 35. On or before the date that is one hundred twenty (120) prior to the Expiration Date for the Term (the “Notice Date”), Tenant shall advise Landlord in writing that Tenant wishes to extend the term of this Lease (hereinafter referred to as “Tenant’s Extension Notice”). If at the time Landlord receives Tenant’s Extension Notice this Lease is in full force and effect without default on the part of the Tenant beyond any applicable cure period, then, during the next thirty (30) days, Landlord shall notify Tenant in writing of the Base Rent pursuant to Article 3 of the Lease which shall be due for the Extended Term. The Base Rent specified by Landlord shall be equal to the greater of: (a) the Base Rent scheduled to be paid for the last year of the Term without giving effect to any partial or complete abatements of Base Rent (the “Rent Notice”); or (b) ninety five percent (95%) Landlord’s projected fair market Base Rent as of the commencement of the Extended Term, for comparable space in comparable buildings in New Haven (the “FMV Rent Notice”).

  • Non-Renewal of Agreement (i) If the Company gives a Non-Renewal Notice to the Executive, the Employment Term and the Executive’s employment hereunder shall terminate as of the expiration of the Initial Term or then-current Renewal Term, as applicable, and the Company shall provide the Executive with all of the payments and benefits set forth in Section 4(c) hereof, subject to his execution and non-revocation of the Release by the Release Effective Date.

  • Agreement to Lease Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, according to the terms and conditions set forth herein, the Premises.

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