Renewal Lease Term. 1 3.3 Basic Rent and Renewal Rent............................ 1 3.4
Renewal Lease Term. Subject to each and every one of the following contingencies, Tenant shall have the option to have the Lease Term end as of the end of the Renewal Lease Term instead of the Initial Lease Term:
Renewal Lease Term. Lessee shall have the option to extend the Lease Term * . Such option may be exercised only by delivery of (1) a Rent Determination Request (as defined in Section 2 to Schedule 2) on a timely basis and (2) written notice to Lessor at least 12 months prior to the then scheduled expiration of the Lease Term electing to extend the Lease Term * ,provided that Lessee may not exercise such option at any time when an Event of Default has occurred and is continuing. The Renewal Lease Term shall end on the Renewal Lease Term Termination Date, provided that if the last day of the Renewal Lease Term shall not be a Business Day, then the Renewal Lease Term shall expire on the next preceding Business Day.
Renewal Lease Term. Renewal Lease Term" shall mean the period commencing upon the expiration of the Initial Lease Term and expiring five (5) years thereafter subject to earlier termination upon any termination of this Lease pursuant to the terms of this Lease.
Renewal Lease Term. Unless sooner terminated under the provisions hereof, the term of this Lease shall be for a period of one (1) year (the “Renewal Term”), commencing on the 1st day of July, 2013, (hereinafter referred to as the “Commencement Date”) and ending on the 30th day of June, 2014.
Renewal Lease Term. In the event that the United States Bureau of Labor Statistics shall discontinue the issuance of the Index, then the rental adjustment provided for herein shall be made on the basis of changes in the most comparable and recognized cost of living index then issued and available, which is published by the United States Government.
Renewal Lease Term. Lessee shall have the option to extend the Lease Term up to two times, with each such extension to be for a one year period. Such option may be exercised only by delivery of (1) a Renewal Rent Determination Request on a timely basis (as provided below) and (2) written irrevocable notice to Lessor at least 6 months prior to the then scheduled expiration of the Lease Term electing to extend the Lease Term by one year, provided that Lessee may not exercise such option at any time when an Event of Default has occurred and is continuing. Each Renewal Lease Term shall commence on last day of the Lease Term (without regard to such Renewal Lease Term) and end on the Renewal Lease Term Termination Date, provided that if the last day of a Renewal Lease Term shall not be a Business Day, then such Renewal Lease Term shall expire on the next preceding Business Day. Upon written request (a "Renewal Rent Determination Request") from Lessee to Lessor at least 8 months but no more than 10 months prior to the then scheduled expiration of the Lease Term, Lessor and Lessee shall in good faith and acting reasonably determine the Renewal Rent Amount. If 15 days prior to the Renewal Rent Determination Date, Lessor and Lessee cannot determine the Renewal Rent Amount, then the Renewal Rent Amount shall be determined by two recognized independent aircraft appraisers, one of which shall be selected by Lessee (at its expense) and one of which shall be selected by the Lessor (at its expense), or if such appraisers cannot agree, by a third independent appraiser chosen by the mutual assent of the first two appraisers (with the cost of such third appraiser to be shared equally by Lessor and Lessee). If either party shall fail to appoint an appraiser at least 11 days prior to the Renewal Rent Determination Date, or if such two appraisers cannot agree on the amount of the Renewal Rent and fail to appoint a third appraiser at least eight days prior to the Renewal Rent Determination Date, then Lessor and Lessee shall jointly request the American Association of Equipment Lessors (or any successor organization) to appoint the relevant appraiser. Any such third appraiser shall determine the amount of the Renewal Rent on or prior to the Renewal Rent Determination Date.
Renewal Lease Term. Lessee shall have the option to extend the Lease Term beyond the Basic Term Expiry Date for one (1) additional term consisting of twelve (12) months (the "Renewal Lease Term"). The Renewal Lease Term shall commence on the Basic Term Expiry Date and end on the date twelve (12) months following the commencement of the Renewal Lease Term; provided that if the last day of the Renewal Lease Term shall not be a Business Day, then the Renewal Lease Term shall expire on the next preceding Business Day. Such option may be exercised only by delivery of irrevocable written notice to Lessor at least one hundred eighty (180) days prior to the expiration of the Basic Lease Term. The Renewal Lease Term shall be governed by the terms of this Agreement. As a condition precedent to Lessee's right to elect to extend the Lease Term, no Event of Default may be occurring at the time of such notice or such extension. Exercise of Lessee's option to extend the Lease Term pursuant to this Section 3(a)(ii) shall not prejudice the rights of Lessor arising upon the occurrence of a Default or an Event of Default, including, without limitation, the right of Lessor, upon the occurrence of an Event of Default, to terminate this Lease at any time after such occurrence.
Renewal Lease Term. This Lease shall be renewed for a period of five (5 ) years, commencing February 1, 2020 and continuing through January 31, 2025 (“Renewal Term”), at the same terms and conditions as set forth in the Lease, except as otherwise provided herein.
Renewal Lease Term. PCH shall pay to the City the following amounts as base rent during the Renewal Lease Term in monthly installments (the “Renewal Lease Term Rentals”). PERIOD RATE PER SQUARE FOOT SQUARE FOOTAGE ANNUALIZED GROSS RENT MONTHLY RENT 1/1/2023 -12/31/2023 $14.50 7,000 $101,500 $8,459 1/1/2024 -12/31/2024 $14.50 7,000 $101,500 $8,459 1/1/2025 -12/31/2025 $14.50 7,000 $101,500 $8,459 1/1/2026 -12/31/2026 $15.00 7,000 $105,000 $8,750 1/1/2027- 12/31/2027 $15.00 7,000 $105,000 $8,750 The Renewal Lease Term Rentals paid by PCH to the City during the Renewal Lease Term shall be used and allocated by the City as follows:
