Common use of PERIOD OF LEASE Clause in Contracts

PERIOD OF LEASE. The lease runs for 7 years from the time of moving in, preliminary from December 20, 2002 until December 31, 2009. The lessor guarantees that the premises are completed and ready for immigration before December 20, 2002, provided that the described ventilation capacity is delivered no later than 4 months after final permission for starting up is given by the Department of planning and construction [Plan og bygningsetaten]. If the premises not are completed, in relation to ventilation capacity, before December 20, 2002, the lease shall be 50% for the areas that lack such ventilation and correspondingly no rent for the same areas if the ventilation capacity is not in place before April 20, 2003. The lessor is under an obligation to file such application latest when this agreement is finally approved. The agreement is irrevocable and will terminate without prior notice by the end of the lease period. The lessee has the right to demand that the lease is prolonged for one period of 3 or 5 years on renegotiated terms. This right must, in order to be binding for the lessor, be pleaded in registered mail before April 1, 2009 and new agreement regarding prolongation must be concluded at latest July 1, 2009. The lessor shall give notice of the expiration of the lease agreement to the lessee within March 1, 2009. The lessee has no further right to prolongation after the expiration of the first period of prolongation. This agreement is valid during the prolongation period, but the lessee and/or the lessor can demand that the rental fee is set to market level from the start of the prolongation period. If the parties cannot agree on market level for the rental fee, it shall be determined by experts. Each party appoints one expert, and these two experts will jointly appoint a third. If the two initial experts fails to agree on the third expert, this nomination shall be made by the Norwegian Association of Real Estate Brokers. Until the new rental fee is decided, the rental fee shall be the same as the rental fee at the time of the expiration of the lease agreement, as a preliminary payment on account. If the lease continues for more than 6 months after the expiration of the agreed lease period, and the lessor has not requested the lessee to move, the lease has been transformed into a lease for a non-fixed term. The lessee can, with 6 months prior written notice and earliest on January 1, 2008, reduce the leased area with up to one continuous floor in the 3rd, 4th or 5th floor. In the event of reduction with less than one continuous floor, minimum one hive, the remaining area shall be in direct connection with the glass construction by the reception. In the event of such reduction, the lessee shall compensate the lessor with NOK 150 per square meter for reduction before December 31, 2008, and with NOK 75 per square meter for reduction during the last year.

PERIOD OF LEASE. 7.1 The period of the lease runs for 7 years from the time of moving inis 10 (ten) years, preliminary from December 20commencing on January 1, 2002 until 2006 and terminating on December 31, 20092015 (hereinafter: “the Lease Period”), save and except for property no. The lessor guarantees that 41 to Appendix A (Even Xxxxxx), in respect of which the premises are completed and ready for immigration before December 20Lease Period will commence on the date of opening of the branch to the general public, 2002, provided that the described ventilation capacity is delivered no but in any event not later than 4 months after final permission for starting up is given by March 31, 2007 (whether or not the Department branch has been opened to the general public), and shall terminate on the date of planning and construction [Plan og bygningsetaten]. If termination of the premises not are completed, in relation to ventilation capacity, before December 20, 2002, the lease shall be 50% for the areas that lack such ventilation and correspondingly no rent for the same areas if the ventilation capacity is not in place before April 20, 2003. The lessor is under an obligation to file such application latest when this agreement is finally approved. The agreement is irrevocable and will terminate without prior notice by Lease Period as aforesaid. 7.2 At the end of the lease period. The lessee has the right to demand that the lease is prolonged for one period of 3 or 5 years on renegotiated terms. This right must, in order to be binding for the lessor, be pleaded in registered mail before April 1, 2009 and new agreement regarding prolongation must be concluded at latest July 1, 2009. The lessor shall give notice of the expiration of Lease Period the lease agreement to shall be extended for an additional period of lease of 5 years, commencing from the lessee within March 1, 2009. The lessee has no further right to prolongation after the expiration date of termination of the first period Lease Period as aforesaid (hereinafter: “the Period of prolongation. This agreement is valid during Extension”), unless the prolongation period, but Lessee should elect not to extend the lessee and/or the lessor can demand that the rental fee is set to market level from the start of the prolongation period. If the parties cannot agree on market level for the rental fee, it shall be determined by experts. Each party appoints one expert, Lease Agreement and these two experts will jointly appoint a third. If the two initial experts fails to agree on the third expert, this nomination shall be made by the Norwegian Association of Real Estate Brokers. Until the new rental fee is decided, the rental fee shall be the same as the rental fee at the time of the expiration of the lease agreement, as a preliminary payment on account. If the lease continues for more than 6 months after the expiration of the agreed lease period, and the lessor has not requested the lessee to move, the lease has been transformed into a lease for a non-fixed term. The lessee can, with 6 months gives prior written notice and earliest on January 1to that effect to the Lessor, 2008not later than 24 months before the end of the Lease Period (hereinafter: “Notice of Termination”). 7.3 It is agreed that in the Period of Extension, the Lessee will be entitled to reduce the leased area with up to one continuous floor number of Properties that are included in the 3rdLeased Premises in a manner that entire Properties will be excluded from the Leased Premises, 4th or 5th floorin respect of which the total rentals payable (according to the average of the rentals in the two years preceding the date of extension), does not exceed 15% of the total overall rentals payable in respect of the Leased Premises as a whole. In The Lessee’s right to reduce the event area of reduction the Leased Premises as aforesaid, is subject to the condition that such notice, accompanied by a list of the Properties which the Lessee intends to remove from the scope of the Leased Premises, shall be given in writing to the Lessor not later than 12 months before the end of the Lease Period. 7.4 During the Period of Extension, to the extent that it is exercised, all the provisions of this Agreement shall apply, mutatis mutandis, also to the Period of Extension. 7.5 It is clarified, for the avoidance of doubt, that if the Lessee vacates the Leased Premises before the end of the Lease Period other than in accordance with less than one continuous floorthe provisions of this Clause 7, minimum one hivethen without derogating from any remedy and/or relief available to the Lessor pursuant to this Agreement and according to law, the remaining area shall Lessee will be in direct connection with liable for all the glass construction by payments imposed on it under this Agreement until the reception. In end of the event of such reduction, the lessee shall compensate the lessor with NOK 150 per square meter for reduction before December 31, 2008, and with NOK 75 per square meter for reduction during the last yearLease Period.

PERIOD OF LEASE. The lease runs Contract of Lease shall be for 7 a period of five (5) years from the time of moving instarting January 1, preliminary from December 20, 2002 until 1999 to December 31, 2009. The lessor guarantees that the premises are completed and ready for immigration before December 20, 2002, provided that the described ventilation capacity is delivered no later than 4 months after final permission for starting up is given by the Department of planning and construction [Plan og bygningsetaten]. If the premises not are completed, in relation to ventilation capacity, before December 20, 2002, the lease shall be 50% for the areas that lack such ventilation and correspondingly no rent for the same areas if the ventilation capacity is not in place before April 20, 2003. The lessor lease is extendable for additional two (2) years under such terms and conditions, as the parties shall agree upon. Contract automatically preterminates in event of expropriation by government of property for infrastructure purposes. LESSOR has no liability in event of expropriation provided six (6) month notice is given If LESSOR gives between four (4) months to less than six (6) months notice, LESSOR shall be liable for a penalty equivalent to one (1) month's rent. If LESSOR gives between two (2) months to less than four- (4) months notice, LESSOR shall be liable for a penalty equivalent to two- (2) month's rent. If LESSOR gives less than two (2) months notice, LESSOR shall be liable for a penalty equivalent to four (4) months' rent. Contract is preterminable without penalty by LESSEE by giving sixty (60) days notice; provided pretermination as a result of Innodata having obtained knowledge of an obligation to file eminent domain proceeding shall only require thirty (30) days notice and, in such application latest when this agreement an event, Innodata shall have no limit on holdover. Holdover is finally approved. The agreement is irrevocable and will terminate without prior notice by the end of the lease period. The lessee has defined as the right to demand maintain occupancy of the demised premises beyond the lease termination date at a daily rate. Other pretermination without cause by LESSEE shall result in a maximum liability equivalent to one-half of the rental deposit. LESSOR warrants full disclosure to LESSEE of all notices, documents and information which it obtains relating to contacts made with LESSOR by outside parties relating to acquisition of the building for the Skyway. LESSOR agrees that if it fails to do so, it will indemnify LESSEE by the amount of equivalent to four (4) months' rent. If during the term of this lease, or any renewal of it, the premises shall be substantially destroyed by fire, typhoon, earthquake or any other unforeseen cause not the fault of either the LESSOR or the LESSEE, then the LESSEE shall have the option, upon notice in writing to the LESSOR, to terminate the lease, suspend payments of rentals, or proportionately reduce the rentals. In case the lease is prolonged for one period of 3 or 5 years on renegotiated terms. This right mustterminated, in order the LESSOR shall refund to be binding for the lessor, be pleaded in registered mail before April 1, 2009 and new agreement regarding prolongation must be concluded at latest July 1, 2009. The lessor shall give notice LESSEE any portion of the expiration of the lease agreement to the lessee within March 1, 2009. The lessee has no further right to prolongation after the expiration of the first period of prolongation. This agreement is valid during the prolongation period, but the lessee and/or the lessor can demand that the rental fee is set to market level from the start of the prolongation period. If the parties canrent paid in advance and not agree on market level for the rental fee, it shall be determined by experts. Each party appoints one expert, and these two experts will jointly appoint a third. If the two initial experts fails to agree on the third expert, this nomination shall be made by the Norwegian Association of Real Estate Brokers. Until the new rental fee is decided, the rental fee shall be the same as the rental fee earned at the time of such destruction within fifteen (15) days from the expiration date of the lease agreement, as a preliminary payment on account. If the lease continues for more than 6 months after the expiration of the agreed lease period, and the lessor has not requested the lessee to move, the lease has been transformed into a lease for a non-fixed term. The lessee can, with 6 months prior written notice and earliest on January 1, 2008, reduce the leased area with up to one continuous floor in the 3rd, 4th or 5th floor. In the event of reduction with less than one continuous floor, minimum one hive, the remaining area shall be in direct connection with the glass construction by the reception. In the event of such reduction, the lessee shall compensate the lessor with NOK 150 per square meter for reduction before December 31, 2008, and with NOK 75 per square meter for reduction during the last yeartermination.