Renewal or Extension Terms. None 15.
Renewal or Extension Terms. Provided the Lease is in full force and effect and Tenant is not in default under any of the other terms and conditions of the Lease at the time of notification or commencement, Tenant shall have _____ (number) option(s) to extend the Lease (each, an “Extension Option” and, if more than one, collectively, the “Extension Options”). The Extension Option (or each Extension Option, if more than one) shall be for a term of_____ (number) years (each, an “Extension Term”), for the portion of the Premises being leased by Tenant as of the date the applicable Extension Term is to commence, on the same terms and conditions set forth in the Lease, except as modified by the terms, covenants and conditions as set forth below: Monthly rental rate for Extension Term: [NOTE: The rental rate for each year of the Extension Term MUST be specified in this agreement – otherwise, the Tenant’s Extension Option is not legally enforceable. The rental rate cannot be described vaguely – e.g., “TBD,” “to be determined,” “to be negotiated by the parties.” If the rental rate is set at “fair market value,” the lease must include a description of how “fair market value” will be determined when Tenant exercises the Extension Option.] Year 1: ____________ Year 2: ____________ Year 3: ____________ Year 4: ____________ Year 5:____________ __________________ __________________ __________________ __________________ __________________ __________________ __________________ If rent for any of the above years in an Extension Term is set at “FMV” or “Fair Market Value,” the monthly fair market value rental rate shall be determined by a real estate broker (“Broker”) who is acceptable to both Landlord and Tenant. The monthly fair market value rental rate shall be the monthly rental rate, at the time Tenant exercises the (or an) Extension Option, for commercial premises in the same city / town / neighborhood (circle one) that are of a similar size and condition to the leased Premises and that are put to the same or a similar use as Tenant’s use. Broker shall not estimate the monthly fair market value rental rate as the rate that Landlord could obtain for a use of the Premises that is different than Tenant’s use at the time Tenant exercises the Extension Option. Any disputes about the determination of fair market monthly rental rate as described above shall be submitted to mediation, and if mediation is unsuccessful, to binding arbitration. Required notice by Tenant: If Tenant elects to exercise an Exte...
Renewal or Extension Terms. After two years from date of execution, the agreement may be extended for two, one-year optional renewal period, section 4.
Renewal or Extension Terms. 15. Termination and Cancellation Provisions FOR CAUSE: 10 DAYS WRITTEN NOTICE FROM EITHER PARTY FOR CONVENIENCE: 30 DAYS WRITTEN NOTICE FROM EITHER PARTY 16. Deliverables, milestones or scope of this action: Monthly provision of substance abuse services to program eligible residents of Broward County. 17. List terms, considerations or deviations from standard county form. Agreement prepared by Broward Sheriff’s Office
Renewal or Extension Terms. According to Provisions as Set Forth in Article 4 Term and Time of Performance Section 4.
Renewal or Extension Terms. Four (4) one-year options to renew, subject to continued receipt of CSBG funding.
Renewal or Extension Terms. NONE SPECIFIED 15. Termination and Cancellation Provisions For Cause: IN THE EVENT FUNDING FOR THIS CONTRACT BECOMES UNAVAILABLE, THE DEPARTMENT MAY TERMINATE THE CONTRACT UPON NO LESS THAN FIFTEEN (15) DAYS WRITTEN NOTICE TO THE PROVIDER. For Convenience: THE DEPARTMENT MAY TERMINATE THIS CONTRACT, IN WHOLE OR IN PART, WITHOUT CAUSE, FOR ITS CONVENIENCE, AND WITHOUT ADDITIONAL COST TO THE DEPARTMENT, BY GIVING NO LESS THAN THIRTY (30) DAYS WRITTEN NOTICE TO THE PROVIDER.
Renewal or Extension Terms. None 15. Termination and Cancellation Provisions For Cause: N/A For Convenience: N/A
