Renewal Term Sample Clauses

Renewal 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.

Renewal Term. If not sooner terminated, this Agreement shall renew at the end of the Initial Term and shall thereafter continue for successive annual periods, provided such continuance is specifically approved at least annually (i) by the Fund’s Board of Trustees or (ii) by a vote of a majority of the outstanding voting securities of the relevant portfolio of the Fund, provided that in either event the continuance is also approved by the majority of the Trustees of the Fund who are not interested persons (as defined in the ▇▇▇▇ ▇▇▇) of any party to this Agreement by vote cast in person at a meeting called for the purpose of voting on such approval. If a plan under Rule 12b-1 of the 1940 Act is in effect, continuance of the plan and this Agreement must be approved at least annually by a majority of the Trustees of the Fund who are not interested persons (as defined in the ▇▇▇▇ ▇▇▇) and have no financial interest in the operation of such plan or in any agreements related to such plan, cast in person at a meeting called for the purpose of voting on such approval.

Renewal Term. Following the Initial Term, the School District shall have the option to extend this Contract by up to two (2) additional years on a year-to-year basis, in its sole discretion (each a “Renewal Term”). Nothing in this Contract requires the School District to exercise its option for a Renewal Term and Contractor has no expectation of a contract beyond the Initial Term, or a Renewal Term if any are exercised. Ninety (90) days prior to the end of the Initial Term, or any Renewal Term, the School District shall notify the Contractor in writing as to whether the School District will exercise any option for a Renewal Term. Notwithstanding the above, this Contract may be terminated in accordance with the provisions of the Contract Documents.

Renewal Term. So long as (i) there exists no uncured Event of Default by Tenant, and (ii) this Lease is still in full force and effect, Tenant shall have the right, exercisable at Tenant’s option, to renew the term of this Lease for two (2) successive terms of five (5) years for all of the then Premises demised under this Lease as of the exercise of the applicable option or less than all such space provided that Tenant renews at least fifty percent (50%) of the Premises originally demised by this Lease (including any Must Take Expansion Premises). If exercised, and if the conditions applicable thereto have been satisfied, the first renewal term of this Lease (the “First Renewal Term”) shall commence immediately following the end of the initial Lease Term and the second renewal term of this Lease (the “Second Renewal Term”) shall commence immediately following the end of the First Renewal Term. (Collectively the First and Second Renewal Terms shall be referred to herein as the “Renewal Terms”.) The rights of renewal herein granted to Tenant are personal to Named Tenant and any Threshold Successor of Named Tenant (and may not be exercised by any other transferee, assignee or subtenant of original Tenant) and shall be subject to, and shall be exercised in accordance with, the following terms and conditions: (a) Tenant shall exercise an option for a Renewal Term by providing Landlord irrevocable written notice no later than eighteen (18) months prior to the expiration of the then-current term of this Lease that it desires to exercise its right of renewal for a Renewal Term (the “Renewal Notice”) for the portion of the Premises as described in the Renewal Notice (the “Renewed Premises”). (b) All terms and conditions of this Lease shall remain in full force and effect during the Renewal Terms, except that commencing on the first (1st) day of such Renewal Term, the Per RSF Base Rent for Renewed Premises for such Renewal Period shall be equal to the greater of (1) the Per RSF Base Rent in effect for the prior Lease Year, as escalated, and (2) ninety-five percent (95%) of the Fair Market Rent for the RSF of the Renewed Premises, as determined in accordance with the process set forth in Section 26.2 below (the “Renewal Term Base Rent”); provided however that in no event shall the Per RSF Base Rent for a Renewal Term be less than the Per RSF Base Rent in effect for the prior Lease Year, as escalated and no Per RSF Base Rent shall be allocated to the Excluded RSF. (c) The Per RSF B...

Renewal Term. Following expiration of the Initial Term, this Agreement will be automatically renewed for additional consecutive terms of twelve (12) months (each, “Renewal Term”), unless a Party gives written notice of termination to the other Party at least thirty (30) days’ prior to the end of the Initial Term or any Renewal Term.

Renewal Term. This Agreement shall automatically be renewed for an additional one-year term (the Renewal Term) unless either party to the Agreement notifies the other party in writing prior to May 1st that it is not renewing the Agreement. The party that fails to provide written notice before May 1st shall be required to pay damages in accordance with Section 4 of Exhibit B. Changes to services ESD112 is obligated to provide or fees the District is obligated to pay shall be addressed as amendments (Exhibit B, Section 3) to this Agreement.

Renewal Term. Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for up to three (3) years, pursuant to Exhibit B, Special Contract Conditions.

Renewal Term. Tenant shall have one (1) renewal option (referred to hereinafter as a “Renewal Option”) to renew this Lease for a term of five (5) years (referred to hereinafter individually as a “Renewal Term”). Each Renewal Option must be exercised by Tenant, by written notice to Landlord, not later than that date which is 9 months prior to the expiration of the then current Term or Renewal Term, as the case may be; provided, however, that in no event shall any such Renewal Option be exercised more than 18 months prior to the expiration of the then current Term or Renewal Term, as the case may be. Each Renewal Term shall be subject to all of the terms of the Lease except that Basic Monthly Rent for each of the Renewal Terms shall be based upon the then-prevailing monthly rental rate per square foot of rentable square footage in the Building or in other comparable buildings in the suburban sub-market which are comparable in area, reputation, location, improvements and services to the Premises and being leased for a duration comparable to the Renewal Term in question (hereinafter, the “Fair Market Rental Value”); provided, however, that in no event shall the Fair Market Rental be less than the rent in effect as of the last day of the then current Term or Renewal Term as the case may be. The Fair Market Rental Value shall be determined, by the mutual agreement of the Parties, according to the following procedures: within 30 calendar days after receipt of Tenant’s written notice exercising any Renewal Option, Landlord shall notify Tenant in writing of Landlord’s determination of the Fair Market Rental Value. If Tenant disagrees with L▇▇▇▇▇▇▇’s valuation, Tenant shall, within 10 business days of receipt of such offer, provide Landlord with a written counter-offer relative to Fair Market Rental Value. Landlord shall then have 10 business days in which to evaluate and either accept or respond to such offer, in writing, with a counter offer. If an agreement between the parties is not reached within 10 business days after Tenant’s receipt of such offer, written offers and counter offers between Landlord and Tenant shall continue according to the same schedule until such time as an agreement is reached between Landlord and Tenant. Notwithstanding the foregoing: (i) in the event either party fails to respond to any offer or counter offer of the other party within 10 business days after receipt of such offer or counter offer, this Lease shall be deemed to terminate at the expirati...

Renewal Term. This Agreement may be renewed for successive two (2) year terms (each, a “Renewal Term”) by mutual written agreement of the parties hereto, executed not less than six (6) months prior to the expiration of the Initial Term or any Renewal Term, as applicable.