Partial Renewal Clause Samples

The Partial Renewal clause allows for the extension or renewal of only a portion of an existing agreement, rather than the entire contract. In practice, this means that specific terms, services, or deliverables can be continued for an additional period while the rest of the contract expires or is renegotiated. For example, a client may choose to renew support services but not software licenses under a broader technology agreement. This clause provides flexibility for both parties, enabling them to adapt to changing needs without committing to a full contract renewal, and helps avoid unnecessary obligations or renegotiations for terms that are no longer relevant.
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Partial Renewal. Tenant will have the right under this Paragraph 3 to exercise the Option Term for all of the Premises or a portion of the Premises as Tenant in its sole discretion may elect. In the event Tenant elects to exercise the Option Term for either Building Two or Building Three, the rent shall be determined as provided for in this paragraph 3 but shall be 100% or FMVR, and all remaining dependent options shall apply only to that portion of the Premises subject to the exercised Option Term.
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Partial Renewal. Notwithstanding Section 51.2, above, to the contrary, Tenant may renew this Lease for less than the entirety of the Premises in accordance with the terms of this Section 51.5. Any such renewal for less than all of the Premises (hereinafter, a “Partial Renewal”) shall meet all of the following standards: (i) such Partial Renewal shall be for minimum of 50% of the then total Rentable Area of the Building; (ii) with respect to each floor included within any such Partial Renewal, the space renewed shall be either the entirety of, or one-half (1/2) of, such floor unless Tenant is then occupying a different fractional portion of the space on the floor in question at the time, and is renewing as to the entirety of its space on such floor; (iii) if Tenant exercises a Partial Renewal as to any one-half (1/2) floor, the point of demarcation shall be such that the remaining half of the floor as to which Tenant does not renew constitutes Independently Leasable Space; (iv) Tenant shall not exercise a Partial Renewal for all but one-half (1/2) floor of the Premises, unless such one-half (1/2) floor is located on the first floor of the Premises; and (v) no Partial Renewal will be permitted which will result in the surrender to Landlord of any non-contiguous floors. The costs associated with separating a partial floor renewed by Tenant from the balance of the floor (including costs associated with the separation of any Building Systems, the construction of a demising wall, and the preparation of any common area lobbies, elevator lobbies and other improvements necessary to make such floor appropriate for multi-tenanting) shall be taken into account within the determination of FMR pursuant to the Renewal Parameters. If Tenant wishes to exercise its Renewal Option for a Partial Renewal, Tenant’s Renewal Notice shall specify exactly which portion of the Premises is subject to such Renewal Notice (and upon the end of the Initial Term or Renewal Term then ending, this Lease shall terminate as to all portions of the Premises which are not within the scope of such Renewal Notice).
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Partial Renewal. Tenant may renew this Lease for less than the --------------- entirety of the Premises, but no less than fifty percent (50%) of the Building, so long as the renewal for less than all of the Premises (hereinafter, a "Partial Renewal") shall meet all of the following standards: (a) with respect to each Floor included within any such Partial Renewal, the space renewed shall be the entirety of such Floor, except (1) with respect to the first Floor, which shall be for a minimum of 25% of that Floor, and (2) if Tenant is then leasing a different fractional portion of the Floor in question at the time and is renewing as to the entirety of such space; and (b) no Partial Renewal will be permitted which will result in the surrender to Landlord of any non-contiguous Floors (except for the first floor of the Premises, which may be non-contiguous to the space surrendered). If Tenant wishes to exercise its Renewal Option for a Partial Renewal, Tenant's Option Notice shall specify which portion of the Premises is subject to such Option Notice (and upon the end of the Term then ending, this Lease shall terminate as to all portions of the Premises which are not within the scope of such Option Notice).
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Related to Partial Renewal

  • LEASE RENEWAL This Lease does not automatically renew and this Lease automatically terminates on the Lease Termination Date. Lessee may be given an opportunity to sign a new or renewal Lease for another Lease Term and remain in the Premises. If Lessee does not sign a new or renewal Lease, UTA may lease the Premises to another Lessee. In the event Lessee holds over beyond the expiration or sooner termination of this Lease, holdover penalties shall apply in accordance with the Terms and Conditions.

  • Partial Release After the First Open Defeasance Date and prior to the First Open Payment Date, and provided no Event of Default exists, Borrower may from time to time obtain a partial release (a “Partial Release”) from the lien of the Mortgage and the Loan Documents of up to two of the individual Mortgaged Properties listed on Schedule 2.17 hereto (each such individual Mortgaged Property to be released, a “Partial Release Property”), provided that all of the following conditions precedent have been satisfied with respect to any such Partial Release of any such Partial Release Property: (a) No Partial Release of a Partial Release Property will be permitted until after the First Open Defeasance Date or if any Event of Default has occurred and is continuing. No Partial Release of the Partial Release Property will be permitted on or after the First Open Payment Date. No more than two Partial Release Properties may be released during the term of the Loan. (b) No Partial Release of the Partial Release Parcel will be permitted unless Borrower establishes to Lender’s satisfaction that the Debt Service Coverage Ratio for the remainder of the Mortgaged Property (i.e., exclusive of any income from the Partial Release Property) is and shall continue to be equal to or greater than the greater of (i) the Debt Service Coverage Ratio for the Mortgaged Property calculated immediately prior to the Partial Release (i.e., inclusive of the income from the Partial Release Property), and (ii) 1.30:1.00. If the foregoing condition would not be satisfied by defeasance of the Partial Defeasance Amount indicated in subparagraph (e) below, Borrower may by written notice to Lender given not less than ten (10) days prior to the Partial Defeasance increase the Partial Defeasance Amount to an amount which would result in the foregoing condition being satisfied upon completion of the Partial Defeasance of such larger Partial Defeasance Amount. No Partial Defeasance, nor any increase in any Partial Defeasance Amount under this paragraph (b) or paragraphs (c) below, shall affect the allocated loan amounts for the remaining Mortgaged Property as set forth on Schedule 2.17. (c) No Partial Release of the Partial Release Parcel will be permitted unless Borrower establishes to Lender’s satisfaction that the value of the remainder of the Mortgaged Property (as determined by then-current Appraisals prepared by Appraisers approved by Lender, the fees and expenses of which shall be paid by Borrower) is sufficient to satisfy a loan-to-value ratio (based on the outstanding principal balance of the Loan immediately prior to the Partial Release, less the allocated loan amount for the Partial Release Property) which is the lesser of (i) 75% and (ii) the loan-to-value ratio for the Mortgaged Property (inclusive of the Partial Release Property, and based on the outstanding principal balance of the Loan immediately prior to the Partial Release) calculated immediately prior to the Partial Release. If the foregoing condition would not be satisfied by defeasance of the Partial Defeasance Amount indicated in subparagraph (e) below, Borrower may by written notice to Lender given not less than ten (10) days prior to the Partial Defeasance increase the Partial Defeasance Amount to an amount which would result in the foregoing condition being satisfied upon completion of the Partial Defeasance of such larger Partial Defeasance Amount. (d) The Partial Release shall be allowed only in connection with a bona fide all-cash sale of the Partial Release Parcel to an unaffiliated third party on arms-length terms and conditions, and upon closing of such sale (and thereafter) shall not be owned, purchased or acquired by Borrower or any Affiliate of Borrower. (e) Borrower will on the date of the Partial Release (the “Partial Release Date”) complete a Partial Defeasance, pursuant to Section 2.7 hereof, of a portion of the Loan (the “Partial Defeasance Amount” for such Partial Release Property) equal to 125% of the allocated loan amount for the Partial Release Property set forth on Schedule 2.17 hereto; provided, that if Borrower elects in connection with a Partial Defeasance of a Partial Release Property to increase the Partial Defeasance Amount for such Partial Release Property pursuant to the provisions of paragraphs (b) and/or (c) above, the Partial Defeasance Amount for such Partial Release Property shall be such higher amount for purposes of such Partial Defeasance. (f) Borrower will execute (and Guarantor will consent in writing thereto and reaffirm their obligations under the Loan Documents to which they are a party notwithstanding the Partial Release) and deliver all such amendments to the Loan Documents and other instruments or documents as may be required by Lender (using commercial standards customarily applied with respect to mortgage loans such as the Loan) in order to continue to fully protect Lender’s lien and security interest in the remainder of the Mortgaged Property. (g) Borrower will cause the Master Homesite Lease(s) to be amended to exclude the Partial Release Property pursuant to documentation reasonably satisfactory to Lender. (h) Borrower, at its sole cost and expense, shall obtain endorsements to Lender’s loan policy of title insurance satisfactory in form and content to Lender, which endorsements will (a) affirmatively evidence the continued validity of Lender’s first lien position created by the Loan Documents through the date of recordation of the partial release of the Partial Release Property, and (b) insure that the lien created by the Loan Documents remains a valid first lien on the remainder of the Mortgaged Property. (i) Borrower shall pay for the costs of preparing and recording partial releases, UCC-3 releases, and any loan modification documents, easements, declarations, and/or restrictive covenants required by Lender, Lender’s reasonable attorneys’ fees and costs, all survey charges and costs, all title premiums and costs, documentary stamps incurred in connection with the release of the Partial Release Property in accordance with the requirements contained herein, and all other reasonable out-of-pocket costs, fees, and expenses incurred by Lender in connection with the requested release of the Partial Release Property. (j) Borrower shall have provided Lender with a Rating Confirmation with respect to the Partial Release. (k) Borrower shall pay Lender’s reasonable costs and expenses in connection with the Partial Release, as set forth below. Borrower shall pay or reimburse Lender for all reasonable costs and expenses incurred by Lender in connection with such request for a Partial Release, including, but not limited to, the preparation, negotiation and review of any and all materials required to be provided in connection therewith (including Lender’s reasonable attorneys’ fees and expenses).

  • Non-Renewal Any grounds for termination stated in Section 24(c) above also may be grounds for non-renewal. In addition, the State Board or Local Board may elect not to renew the Charter if the petition for renewal does not comply with the Charter Schools Act and the rules, regulations, policies, and procedures promulgated in accordance with the Charter Schools Act or if the State Board or Local Board deems that the Charter School has not sufficiently increased student achievement or is no longer in the public interest.

  • Project Renewal Renewal of a PI’s access to controlled-access datasets for a previously-approved project.

  • Sublease Term The term of the Sublease (“Sublease Term”) commences on the later to occur of (1) Sublandlord’s receipt of Prime Landlord’s written consent to this Sublease, and (2) October 1, 2009 (“Sublease Commencement Date”); and expires on January 28, 2018 (“Sublease Expiration Date”; i.e., the day prior to the Termination Date pursuant to the Prime Lease). Sublandlord shall deliver the Subleased Premises “broom clean” and free of all of Sublandlord’s personal property (other than the F&F (defined in Section 2(f))) and debris, but otherwise in “AS IS, WHERE IS” condition on the Sublease Commencement Date; provided that Subtenant shall not be responsible for, or required to remedy, any violation of any applicable law, or any condition or state of facts, with respect to the Subleased Premises, the Building or the Land existing on or prior to the Sublease Commencement Date. Sublandlord is not required to perform any work to prepare the Subleased Premises for Subtenant’s intended use. If (i) for any reason Sublandlord has not received Prime Landlord’s written consent to this Sublease in form required by Section 15(i) below by the date which is sixty (60) days from the date hereof, or (ii) Prime Landlord elects to terminate the Prime Lease in respect of the Subleased Premises pursuant to Prime Landlord’s recapture right set forth in Section 16.5 of the Prime Lease, then in the case of (i), then Sublandlord and Subtenant each may elect at any time thereafter to terminate this Sublease by written notice to the other, whereupon the parties shall deem this Sublease to be null and void and of no effect (except for those provisions expressly stated herein to survive a termination), and in the case of (ii) the Sublease will be deemed terminated in accordance with Section 16.5 of the Prime Lease.