Common use of Renewal Fee Clause in Contracts

Renewal Fee. In the event the lease is extended or renewed for a new one-year or longer lease term after expiration of the original term, Owner shall pay to Broker an additional renewal commission equal to 25% of one month’s gross income or $300, whichever is greater. This commission shall be due and payable at the commencement of the extended period. If the new lease extension is shorter than one year, the fee will be pro-rated and reduced to reflect the number of months the tenant has agreed to rent the premises.

Renewal Fee. In the event the lease is extended or renewed for a new one-year or longer lease term after expiration of the original term, Owner shall pay to Broker an additional renewal commission equal to 25% of one month’s gross income or $300, whichever is greater. This commission shall be due and payable at the commencement of the extended period. If the new lease extension is shorter than one year, the fee will be pro-rated and reduced to reflect the number of months the tenant has agreed to rent the premises.

Renewal Fee. In the event the lease is extended or renewed for a new one-year or longer lease term after expiration of the original term, Owner shall pay to Broker an additional renewal commission equal to 25% of one month’s gross income or $300, whichever is greater. This commission shall be due and payable at the commencement of the extended period. If the new lease extension is shorter than one year, the fee $300 will be pro-rated at $25 per month and reduced to reflect the number of months the tenant has agreed to rent the premises.