Common use of Renewal Terms Clause in Contracts

Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended for the then applicable Renewal Term. During any such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. (a) The Term term of this Master Lease may be extended for four three (43) separate “Renewal Terms” of five ten (510) years each if if: (ai) at least twelve (12), but not more than eighteen (18), ) months prior to the end of the then current Stated Expiration DateTerm, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising Tenant desires to exercise its right to extend this Master Lease for one (1) Renewal Term; and (bii) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice (the “Exercise Date”) or on the last day of the then current Term (other than Term; provided, however, that if Tenant fails to deliver to Landlord a Tenant Event of Default Renewal Notice prior to the date that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(dtwelve (12) and Section 17.1(e)). Subject months prior to the provisions, terms and conditions then current expiration date of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of that Tenant does not intend to renew in accordance with this Lease Section 1.4, then it shall automatically and without further action be extended deemed for all purposes that Xxxxxx has delivered the then applicable Renewal TermNotice required by this Section 1.4(a)(i). During any such Renewal Term, except as otherwise specifically provided for herein, all of the provisions, terms and conditions of this Master Lease shall remain in full force and effect. After . (b) Tenant may exercise such options to renew with respect to all (and no fewer than all) of the last Facilities which are subject to this Master Lease as of the Exercise Date. (c) During each Renewal Term, Tenant Rent shall have no further right continue to renew or extend be determined pursuant to the Term. If Tenant fails to validly and timely exercise any right to extend definition of such term set forth in this Master Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating Provided that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Noticecontinuing, the Term of this Lease Agreement shall be extended automatically renew (each, a “Renewal Term”) for an additional (a) five (5) years with respect to the first (1st) Renewal Term, and (b) three (3) years with respect to each Renewal Term thereafter, unless either Landlord or Tenant elects, by providing Notice to the other party not sooner than six (6) months and no later than two (2) months prior to the scheduled expiration of the Fixed Term or the then applicable current Renewal Term, as applicable, to terminate this Agreement upon the expiration of the Fixed Term or the then current Renewal Term, as applicable. Any such Notice to terminate shall, if given, be irrevocable, but Tenant’s failure to terminate shall not preclude Landlord from exercising any of its rights to terminate this Agreement in accordance with the terms hereof. Each Renewal Term shall commence on the day succeeding the expiration of the Fixed Term or the preceding Renewal Term, as the case may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Renewal Term. During any such Renewal TermIf Landlord or Tenant does not give Notice that it elects to terminate this Agreement in accordance with this Section 2.4, except as specifically provided for herein, all this Agreement shall automatically renew at the end of the provisions, terms and conditions of this Lease shall remain Fixed Term or the Renewal Term then in full force and effect. After effect as provided in the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminatepreceding paragraph.

Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with with Section 17.1(d17.1 (d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended for the then applicable Renewal Term. During any such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. The 23.1. Lessee shall have the option to lease the Premises during the first Renewal Term of this Lease may be extended for four (4) separate “and during the second Renewal Terms” of five (5) years each if Term in the event that Tenant shall have exercised the first Renewal Term, upon the following terms and conditions: (a) That at the time of the exercise of the Renewal Option in question, Lessee shall not be in default in the performance of any of the terms, covenants or conditions herein contained with respect to which notice of default has been given hereunder (where required) and which has not been remedied within the applicable grace period; (b) That the first Renewal Term shall be upon the same terms, covenants and conditions as this Lease, except with respect to the amount of the Fixed Rent which shall be that set out in Section 5.3 above; (c) That the second Renewal Term shall be upon the same terms, covenants and conditions as this Lease, except with respect to the amount of the Fixed Rent which shall be that set out in Section 5.4 above; (d) That Lessee shall exercise either Renewal Option by notifying Lessor of Lessee's election to exercise the same at least twelve fourteen (12), but not more than eighteen (18), 14) months prior to the then current Stated Expiration Date, Tenant expiration of the Initial Term or the first Renewal Term (or, pursuant to Section 17.1(eas appropriate), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating so that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event upon the delivery of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisionsany such notice, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be deemed extended for the then applicable Renewal TermTerm in question without execution of any further instrument. 23.2. During any such In addition to the Fixed Rent, Lessee shall continue to pay Additional Rent throughout the Renewal Term, except as specifically Term in the manner provided for herein, all of the provisions, terms and conditions of in this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminateabove.

Renewal Terms. The Term (a) Provided Tenant is not then in default in any of its obligations under this Lease after applicable notice and curative periods have expired, Tenant shall have the option to renew the term of this Lease may as to all of the Leased Premises for a one (1) two-(2) year renewal term (the "Renewal Term"). Such option shall be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) exercised by written notice to Landlord given at least twelve six (12), but not more than eighteen (18), 6) months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “expiration of the Initial Term. The Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default Term shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisionssame covenants, terms agreements, terms, provisions and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended as are contained herein for the then applicable Renewal Term. During any such Renewal Initial Term, except as specifically expressly provided herein to the contrary and except for hereinsuch as are, all of the provisionsby their terms, terms and conditions of this Lease shall remain in full force and effect. After the last inapplicable to a Renewal Term, . Tenant shall have no further right to renew or extend renewal options following the Renewal Term. If The rent payable during the Renewal Term shall be as provided in Section 4.04. (b) At any time after the Renewal Term has become effective and the rent payable during such Renewal Term determined, Landlord and Tenant, upon request of either, shall execute an agreement supplementary hereto setting out the date to which such Renewal Term shall extend, the Annual Rental payable during such Renewal Term and the Leased Premises for such Renewal Term. (c) Tenant's renewal rights may not be exercised by any sublessee or assignee except by a permitted assignee (including an Affiliate of Tenant fails to validly and timely exercise any right to extend as provided in Section 16.01) of all of Tenant's rights under this Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. The 23.1. Lessee shall have the option to lease the Premises during the first Renewal Term of this Lease may be extended for four (4) separate “and during the second Renewal Terms” of five (5) years each if Term in the event that Tenant shall have exercised the first Renewal Term, upon the following terms and conditions: (a) That at the time of the exercise of the Renewal Option in question, Lessee shall not be in default in the performance of any of the terms, covenants or conditions herein contained with respect to which notice of default has been given hereunder (where required) and which has not been remedied within the applicable grace period; (b) That the first Renewal Term shall be upon the same terms, covenants and conditions as this Lease, except with respect to the amount of the Fixed Rent which shall be that set out in Section 5.3 above; (c) That the second Renewal Term shall be upon the same terms, covenants and conditions as this Lease, except with respect to the amount of the Fixed Rent which shall be that set out in Section 5.4 above; (d) That Lessee shall exercise either Renewal Option by notifying Lessor of Lessee’s election to exercise the same at least twelve fourteen (12), but not more than eighteen (18), 14) months prior to the then current Stated Expiration Date, Tenant expiration of the Initial Term or the first Renewal Term (or, pursuant to Section 17.1(eas appropriate), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating so that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event upon the delivery of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisionsany such notice, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be deemed extended for the then applicable Renewal TermTerm in question without execution of any further instrument. 23.2. During any such In addition to the Fixed Rent, Lessee shall continue to pay Additional Rent throughout the Renewal Term, except as specifically Term in the manner provided for herein, all of the provisions, terms and conditions of in this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminateabove.

Renewal Terms. (a) The Term term of this Lease may be extended for four three (43) separate terms (each a “Renewal Terms” Term”) of five ten (510) years each if if: (ai) at least twelve thirty-six (12), but not more than eighteen (18), 36) months prior to the end of the then current Stated Expiration DateTerm, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating an irrevocable written notice that it Tenant is irrevocably exercising its right to extend this Lease for one (1) Renewal TermTerm (a “Renewal Notice”); and (bii) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice (the “Exercise Date”) or on the last day of the then current Term (other than Term; provided, however, that if Tenant fails to deliver to Landlord a Tenant Event of Default Renewal Notice prior to the date that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(dthirty-six (36) and Section 17.1(e)). Subject months prior to the provisions, terms and conditions then current expiration date of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of that Tenant does not intend to renew in accordance with this Lease Section 1.4(a)(i), then it shall automatically and without further action be extended deemed for all purposes that Tenant has delivered the then applicable Renewal TermNotice required by this Section 1.4(a)(i). During any such Renewal Term, except as otherwise specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails . (b) During each Renewal Term, Base Rent shall continue to validly and timely exercise any right be determined pursuant to extend the definition of such term set forth in this Lease, then all subsequent rights to extend the Term shall terminate.

Renewal Terms. The Each such extension of the Term of this Lease may shall be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months upon the same terms and conditions in force hereunder immediately prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day expiration of the then current Term term, except that (other than a a) after the exercise of the first Renewal Term, Tenant Event of Default that is in shall have the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject right to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, extend the Term of this Lease shall be extended only for the then applicable Renewal Term. During any such second Renewal Term, except as specifically provided for herein, all and after the exercise of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last second Renewal Term, Tenant shall have no further right to renew or extend the Term of this Lease beyond the expiration of the second Renewal Term; (b) the Premises will be provided in their then-existing condition, on an “as is” basis, at the time the Renewal Term commences and Tenant shall not be entitled to any free rent, construction allowances, special concessions or any other leasing concessions with respect to the Premises during the Renewal Term; and (c) Base Rent for the Premises for the first Renewal Term and for the second Renewal Term shall be the amount stated in Section 1.1(g) of this Lease. If and when the Renewal Option is exercised, the Term of this Lease shall thereupon (without the necessity for any further act or deed) be deemed to expire at the end of the applicable Renewal Term unless the succeeding Renewal Term, if any, is exercised. During each Renewal Term, in addition to the amounts stated above, Tenant fails also shall pay Landlord all other sums which Tenant is required to validly and timely exercise any right pay pursuant to extend the terms of this Lease, then all subsequent rights to extend in the Term shall terminatemanner provided by this Lease.

Renewal Terms. The Term of this Lease may be extended for four (4) separate “Renewal Terms” of five (5) years each if (a) at least twelve (12), but not more than eighteen (18), months prior to the then current Stated Expiration Date, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating that it is irrevocably exercising its right to extend this Lease for one (1) Renewal Term; and (b) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice or on the last day of the then current Term (other than a Tenant Event of Default that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(d) and Section 17.1(e)). Subject to the provisions, terms and conditions of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of this Lease shall be extended for the then applicable Renewal Term. During any such Renewal Term, except as specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If Tenant fails to validly and timely exercise any right to extend this Lease, then all subsequent rights to extend the Term shall terminate.. 3

Renewal Terms. (a) The Term term of this Lease may be extended for four two (42) separate terms (each a “Renewal Terms” Term”) of five ten (510) years each if if: (ai) at least twelve thirty six (12), but not more than eighteen (18), 36) months prior to the end of the then current Stated Expiration DateTerm, Tenant (or, pursuant to Section 17.1(e), a Permitted Leasehold Mortgagee) delivers to Landlord a “Renewal Notice” stating an irrevocable written notice that it Tenant is irrevocably exercising its right to extend this Lease for one (1) Renewal TermTerm (a “Renewal Notice”); and (bii) no Tenant Event of Default shall have occurred and be continuing on the date Landlord receives the Renewal Notice (the “Exercise Date”) or on the last day of the then current Term (other than Term; provided, however, that if Tenant fails to deliver to Landlord a Tenant Event of Default Renewal Notice prior to the date that is in the process of being cured by a Permitted Leasehold Mortgagee in compliance in all respects with Section 17.1(dthirty six (36) and Section 17.1(e)). Subject months prior to the provisions, terms and conditions then current expiration date of this Lease, upon Tenant’s timely delivery to Landlord of a Renewal Notice, the Term of that Tenant does not intend to renew in accordance with this Lease Section 1.4, then it shall automatically and without further action be extended deemed for all purposes that Xxxxxx has delivered the then applicable Renewal TermNotice required by this Section 1.4(a)(i). During any such Renewal Term, except as otherwise specifically provided for herein, all of the provisions, terms and conditions of this Lease shall remain in full force and effect. After the last Renewal Term, Tenant shall have no further right to renew or extend the Term. If . (b) Tenant fails may exercise such options to validly renew with respect to all (and timely exercise any right in no event fewer than all) of the Facilities which are subject to extend this Lease as of such Exercise Date. (c) During each Renewal Term, Base Rent shall continue to be determined pursuant to the definition of such term set forth in this Lease, then all subsequent rights to extend the Term shall terminate.