Refurbishment After Initial Term Sample Clauses

Refurbishment After Initial Term. A refurbishment minimum of $100,000 shall be invested in the Premises by Concessionaire, if after the initial term, the Airport exercises the renewal. The refurbishment minimum is not for ordinary or deferred maintenance, which is an ongoing requirement, but a commitment to renew and replace worn surfaces such that it would constitute additional capital investment. The refurbishment requirement, shall be completed during the first 6 months of the first renewal term, if exercised by the Airport (i.e. January 1, 2032 through December 31, 2036), and the refurbishment plan is subject to the prior consultation and approval by the Airport Director, which shall not be unreasonably delayed or denied. The Concessionaire will be required to document its refurbishment costs and submit the final document to the Airport within sixty (60) days of completion of the refurbishment. In order to ensure that the committed investment is made, the Concessionaire will be required to pay the Airport any difference between the investment minimum and the actual costs of refurbishment if such costs are less than the minimum required investment.
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Related to Refurbishment After Initial Term

  • Extended Work Year A teacher requested by the Board to work in his/her regular assignment beyond the contracted number of days shall be offered an extended contract and compensated at the scheduled per diem rate, as specified in Article XXV. Compensation for weeks worked after July 1 shall be at the new rate.

  • Initial Contract Term The Initial Contract Term shall be for two years. The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later. The Contract shall expire on October 1, 2023, unless terminated earlier in accordance with the Special Contract Conditions or Additional Special Contract Conditions.

  • Renewal Contract Term Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.

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  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Initial Term The initial term will begin on the date set forth in the Contract documents or on the date the Contract is signed by all Parties, whichever is later.

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  • Commencement Date The Subcontractor shall be permitted to begin the Services on , 20 (“Commencement Date”).

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