Renewal Payment. (a) In the event that PTI exercises its right to extend the Term of this Agreement for the Renewal Term, PTI shall pay to Colonial, on or before the expiration of the Initial Term, a renewal payment equal to the then-current "fair market value" of the Leasehold Interests to be granted herein (the "Renewal Payment").
Appears in 4 contracts
Samples: 7 Agreement (Pathnet Telecommunications Inc), Way Lease Agreement (Pathnet Telecommunications Inc), Way Lease Agreement (Pathnet Telecommunications Inc)
