Common use of Option to renew term of lease Clause in Contracts

Option to renew term of lease. If the Lessee shall be desirous of taking a lease of the Property for a further term from the expiration of the Term hereby granted at the rent and on the terms and conditions hereinafter mentioned it shall within [*] months’ before expiry of the Lease hereby granted give to the Lessor notice in writing of its desire and if it shall have paid the rent hereby reserved (hereinafter called the current rent) and shall have reasonably performed and observed the several stipulations herein contained and on his part to be performed and observed Property to the Lessee for the further term and rent as may from time to time be agreed by the parties provided that if any difference shall arise between the parties as to the rent payable on renewal of the lease the dispute shall be determined by the Valuer and the Valuer shall be deemed to be acting as an independent expert and not an arbitrator and his decision shall be final and binding on both parties. The Valuer’s costs and all costs to be incurred thereto shall be borne by the Lessee. If the Lessee shall not opt to renew the Lease at the expiration of the Term hereby granted, the Parties hereby agree that the Lessee shall be allowed to remove all movable assets on the Property within fourteen (14) days’ from expiration.

Option to renew term of lease. If the Lessee shall be desirous of taking a lease of the Property for a further term from the expiration of the Term hereby granted at the rent and on the terms and conditions hereinafter mentioned mentioned, it shall within [*] months’ three (3) months before expiry of the Lease hereby granted give to the Lessor notice in writing of its desire and if it shall have paid the rent hereby reserved (hereinafter called the current rent) and shall have reasonably performed and observed the several stipulations herein contained and on his its part to be performed and observed up to the termination of the term hereby created, then the Lessor will lease the Property to the Lessee for the further term and rent as may from time to time be agreed by the parties provided that if any difference shall arise between the parties as to the rent payable on renewal of the lease Lease the dispute shall be determined by the Valuer and the Valuer an independent valuer who shall be deemed to be acting as an independent expert and not as an arbitrator and his decision shall be final and binding on both parties. The Valuer’s costs and all costs to be incurred thereto shall be borne by the Lessee. If the Lessee shall not opt to renew the Lease at the expiration of the Term hereby granted, the Parties hereby agree that the Lessee shall be allowed to remove all movable assets on the Property within fourteen (14) days’ from expirationProperty.

Option to renew term of lease. If the Lessee shall be desirous of taking a lease of the Property Lease Premises for a further term from the expiration of the Term hereby granted at the rent and on the terms and conditions hereinafter mentioned it mentioned, he shall within [*] months’ three (3) months before expiry of the Lease hereby granted give to the Lessor notice in writing of its desire and if it shall have paid the rent hereby reserved (hereinafter called the current rent) and shall have reasonably performed and observed the several stipulations herein contained and on his its part to be performed and observed Property up to the termination of the term hereby created, then the Lessor will lease the demised Premises to the Lessee for the further term and rent as may from time to time be agreed by the parties provided that if any difference shall arise between the parties as to the rent payable on renewal of the lease the dispute shall be determined by the Valuer and the Valuer shall be deemed to be acting as an independent expert and not an arbitrator and his decision shall be final and binding on both parties. The Valuer’s costs and all costs to be incurred thereto shall be borne by the Lessee. If the Lessee shall not opt to renew the Lease at the expiration of the Term hereby granted, the Parties hereby agree that the as follows:- The Lessee shall be allowed to remove all movable assets on the Property within fourteen (14) days’ from expirationLease Premises; and That any structure, building or fixture erected on the Lease Premises shall be surrendered by the Lessor to the Lessee at no cost, whatsoever.