OPTION TO RENEW AGREEMENT Sample Clauses

OPTION TO RENEW AGREEMENT. You have the option to renew coverage for the Unit identified on the Declaration Page prior to the expiration of this Agreement. The decision to renew coverage is subject to the Administrator’s sole discretion and approval; taking into consideration the following terms and conditions: 1. You must contact the seller directly at least thirty (30) days and one thousand (1,000) miles prior to the expiration date specified on the Declaration Page. 2. The Unit must be eligible for coverage based on the underwriting guidelines in place at the time of the request to renew. 3. You must provide Us with verifiable service records indicating that proper maintenance to the Unit has been performed. Coverage may be denied based on the service history of the Unit. 4. The Unit must be made available for inspection, if requested by Us. 5. If approved, the Administrator will provide You with confirmation of coverage.
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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.
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.
Sample 1
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.
Sample 1
OPTION TO RENEW AGREEMENT. If item 10 of the Part A specifies a Further Term then on the condition that the Tenant has, (a) Given the City of Launceston notice in writing not later than three months before, and within six months of the expiration of this Agreement, of their intention to seek a Further Term; (b) Duly and punctually paid the Rent and is not otherwise in default of the provisions of this Agreement; and (c) Where required to do so by the City of Launceston, paid any costs arising from the extension of the Agreement for a Further Term, The City of Launceston will grant to the Tenant a renewal of this Agreement for the Further Term on the same covenants, agreements and provisions as are herein contained, except for the inclusion of another Further Term.
Sample 1
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.
Sample 1
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.
Sample 1
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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 (i) the City sends written notice to Chamber of its election to renew the Agreement no later than the last calendar day of May of each year of this Agreement, (ii) Chamber provides the City with written acceptance of the renewal within thirty (30) days of the City’s notice to Chamber of its election to renew, (iii) the Parties agree to and accept a Scope of Services for the new fiscal year as reflected in a revised Exhibit A, and (iv) the City Council of the City of Anaheim approves an appropriation of funds for this Agreement.
Sample 1
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.
Sample 1

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 Lease The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Institution from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Institution containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Institution agrees to assume all leases assigned (or enter into subleases or new leases in lieu thereof) pursuant to this Section 4.6. If the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for the Fixtures, Furniture and Equipment located on such leased Bank Premises.

  • Option to Extend Lease Term Landlord hereby grants to Tenant one (1) option ("Option") to extend the Lease Term with respect to the Premises on the following terms and conditions: (a) The Option shall give Tenant the right to extend the Lease Term for an additional ten (10) years (the "Extended Term"); (b) Tenant shall give Landlord written notice of its exercise of the Option no later than one hundred eighty (180)days, nor earlier than three hundred sixty (360), prior to the Termination Date; (c) Tenant may not extend the Lease Term pursuant to this Section 3.4 if Tenant is in default in the performance of any of the terms and conditions of this Lease and/or the Other Lease, which default continues after the expiration of any grace period and the giving of any notice, as provided in Article 16 below or in the Other Lease. Any notice of exercise of the Option given by Tenant while Tenant is in default shall be of no force and effect. The period of exercise of the Option shall not be extended for any period in which Tenant is unable to exercise an Option by reason of Tenant's default. If Tenant is in default on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease pursuant to Section 16.2.1, notwithstanding any notice given by Tenant of the exercise of the Option. (d) All terms and conditions of this Lease shall apply during the Extended Term, except that Base Rent for the Extended Term shall be determined in accordance with Section 5.1.2 below; (e) Once Tenant delivers notice of its exercise of the Option, Tenant may not withdraw such exercise and, subject to the provisions of this Section 3.4, such notice shall operate to extend the Lease Term. Upon the extension of the Lease Term pursuant to this Section 3.4, the term "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Termination Date shall be the expiration date of the Extended Term.

  • Option to Extend (a) Provided that the Tenant is not then in default of its obligations under this Lease beyond any applicable cure or grace period, the Landlord shall at the expiration of the Term, provided the Tenant has given the Landlord notice of its exercise of the option to extend at least twelve (12) months prior to the expiration of the Term, extend the Term for a further term of five (5) years (the “First Extension Term”) from the expiration of the Term, upon the same terms and conditions contained in this Lease except extension options and the Annual Base Rent to be paid during the First Extension Term. (b) Provided that the Tenant is not then in default of its obligations under this Lease beyond any applicable cure or grace period, the Landlord shall at the expiration of the First Extension Term, provided the Tenant has given the Landlord notice of its exercise of the option to extend at least twelve (12) months prior to the expiration of the First Extension Term, extend the First Extension Term for a further term of five (5) years (the “Second Extension Term”) from the expiration of the Term, upon the same terms and conditions contained in this Lease except extension options and the Annual Base Rent to be paid during the Second Extension Term. (c) The Annual Base Rent during any Extension Term shall be the Current Market Rent for the Premises. If the Landlord and the Tenant have not mutually agreed on the amount of the Annual Base Rent at least three (3) months prior to the commencement of such Extension Term, then Annual Base Rent shall be decided in the manner set out in Section 3.3. Until the Annual Base Rent has been determined, the Tenant shall pay the monthly Rent requested by the Landlord and, upon the determination of the Annual Base Rent, the Landlord and the Tenant shall make the appropriate adjustments together with interest at the Prime Rate.

  • Non-Renewal of Agreement The Company may terminate Executive’s employment by providing a timely Non-Renewal Notice, pursuant to Section 1(a).

  • Amendment to Rights Agreement Section 1(w) of the Agreement is hereby amended by deleting it in its entirety and replacing it with the following:

  • 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.

  • Amendment to Purchase Agreement Section 1.3 of the Purchase Agreement is hereby amended and restated in its entirety to read as follows:

  • Term of Agreement; Amendment This Agreement shall become effective as of the date first written above and will continue in effect for a period of three (3) years. This Agreement may be terminated by either party upon giving 90 days prior written notice to the other party or such shorter period as is mutually agreed upon by the parties. Notwithstanding the foregoing, this Agreement may be terminated by any party upon the breach of the other party of any material term of this Agreement if such breach is not cured within 15 days of notice of such breach to the breaching party. This Agreement may not be amended or modified in any manner except by written agreement executed by USBFS and the Trust, and authorized or approved by the Board of Trustees.

  • Modification, Extension and Renewal of Options The Board or a duly appointed committee thereof, may modify, extend or renew this Option or accept the surrender thereof (to the extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore exercised), subject at all times to the Code and applicable securities laws. Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Recipient, alter to the Recipient’s detriment or impair any rights of Recipient hereunder.

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