Right to Renew Clause Samples
The Right to Renew clause grants a party, typically a tenant or licensee, the option to extend the term of an agreement beyond its original expiration. This right usually requires the party to provide written notice within a specified timeframe and may set out conditions such as renewal terms, rent adjustments, or limits on the number of renewals. Its core function is to provide certainty and flexibility for the party seeking continued use or occupancy, while also clarifying the process and terms for extending the contractual relationship.
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Right to Renew. Landlord hereby grants to Tenant a one-time option to renew the Lease as to the Premises, as the same may have been expanded pursuant to Paragraph 31 hereof, upon the terms and conditions of this Paragraph 32 if:
(a) Tenant is not in default under this Lease beyond any time to cure at the time such option is exercised; and
(b) Tenant gives Landlord written notice of the exercise of the renewal of this Lease not later than nine (9) months prior to the end of the Term (the “Renewal Notice of Exercise”), time being of the essence. Tenant’s failure to deliver the Renewal Notice of Exercise to Landlord during the notice period specified in this subparagraph (b) shall be deemed a waiver of Tenant’s right to exercise its option to renew. Landlord and Tenant agree that if, prior to the date Tenant delivers the Renewal Notice of Exercise, Tenant has leased any Offer Space (as defined in Paragraph 31 hereof), the Renewal Notice of Exercise and the subsequent renewal of this Lease pursuant to this Paragraph 32 shall include and be applicable to such Offer Space. Landlord and Tenant further agree that, unless expressly provided in said Paragraph 31, any right of first offer granted by said Paragraph 31 shall expire as of the original Expiration Date of this Lease and shall not be available during the renewal term.] If Tenant elects to renew this Lease under this Paragraph 31, the following terms and conditions shall apply:
(x) the renewal term in question shall commence upon the expiration of the Term and continue thereafter for a period of thirty-six (36) months;
(y) Base Rent for the Premises for the renewal term shall be Market Rent (as defined in Paragraph 33 below);
(z) all of the other terms and conditions contained in this Lease, as it may have been amended from time to time, shall be as set out in this Lease, it being understood that there shall be no rights of renewal or extension except as provided in this Paragraph 32, and, upon the exercise of the right of renewal granted by this Paragraph 32, this Paragraph 32 shall be of no further force or effect and Tenant shall have no right to further renew or extend the Term at the expiration of the renewal term. Within fifteen (15) days after request thereof from Landlord. Tenant shall execute and deliver to Landlord those instruments which Landlord may request to evidence the renewal described in this Paragraph 32. The rights of Tenant under this Paragraph 32 shall not be severed from this Lease or separately sold...
Right to Renew. Unless the Facility Assets shall have been sold or disposed of pursuant to this Lease or an Event of Loss shall have occurred or a Default described in clause (a) or (f) of Article XIII or an Event of Default shall exist at the time of giving the notice referred to below or at the commencement of the relevant Renewal Term, Lessee shall have the right to renew this Lease (i) at the end of the Basic Term for the Fixed Price Renewal Term and (ii) at the end of the Basic Term or the Fixed Price Renewal Term, if elected, or a Fair Market Renewal Term, if elected, for a Fair Market Renewal Term. In order to exercise any such right, Lessee shall notify each Lessor Party thereof in writing not more than 12 month nor less than 6 months prior to the commencement of the relevant Renewal Term, which notice shall be irrevocable and shall specify the type of renewal term elected in accordance with this Section 4.01(a) and the duration thereof (which shall be an integral multiple of six months, shall not end after the end of the Ground Lease Term and, in the case of a Fair Market Renewal Term, shall be at least one year and not more than five years or, in the case of the Fixed Price Renewal Term, shall be, subject to Section 4.01(c), at least one year and not more than 50% of the Basic Term). If Lessee shall fail to renew this Lease as provided above, Lessor shall, subject to Section 4.02, be free to lease or dispose of all or any part of the Facility to any other Person on any terms acceptable to Owner Participant.
Right to Renew. Sponsorship is often seen by a sponsor as a “hit-and-miss affair. Like much marketing expense, it is difficult to ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ - ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
Right to Renew. After the first anniversary of this agreement, this agreement will automatically be renewed unless Advisor is notified in writing at least 30 days prior to the anniversary date. Your payment of fees will constitute a renewal of this contract under the terms of this agreement. Both parties retain the right not to renew.
Right to Renew. The terms of this Agreement shall be automatically renewed for similar periods (five years each time) unless one of the parties notifies the other in accordance with Section 15 of this Agreement of its intention not to renew the Agreement, at least six months prior to the date of expiration. This notice shall not cause forfeiture of the rights of either of the two parties hereto vis a vis each other. Each party in its sole discretion shall have the right to determine, for any reason whatsoever, not to renew, continue or extend this Agreement.
Right to Renew. Thereafter, this Agreement may be renewed for such periods of time and under such terms and conditions as are mutually agreed to in writing and pursuant to Section 12.7.
Right to Renew. This Lease may be renewed upon rent and terms to be negotiated by the parties and in accordance with the City of Key West Code of Ordinances.
Right to Renew. 9.1 The Tenant may exercise its option to take the Renewal Lease by serving written notice on the Landlord not less than twelve calendar months' prior to the Term Expiry Date.
9.2 The Tenant’s option under clause 9.1 shall be of no effect if:
Right to Renew. If Item 11 provides for a right to Renewed Terms and the Lessee has:
(a) at all material times and in respect of each of the terms and conditions duly observed such terms and conditions of this Lease and
(b) given to the Lessor not less than three months’ notice in writing prior to the Expiration Date (which notice shall be irrevocable) of intention to renew
(c) the Lessor shall at the cost of the Lessee renew this Lease by way of a deed of renewal (or as near to it as circumstances require) for the next relevant further term of years fixed in Item 11 commencing from the day after the Expiration Date of the preceding term.
Right to Renew. Unless the License has been terminated prior to the expiration of its Initial Term, or Licensor has given Licensee notice of its intention not to renew the License as permitted under this Section, the License may be renewed at the option of Licensee for two (2) additional periods of five (5) years each beyond the initial Term (the "Renewal Terms"; the Initial Term and the Renewal Terms are collectively referred to herein as the "Term" of this Agreement), provided that at the end of the Initial Term and the first Renewal Term, Licensee shall have complied with the conditions set forth in Section 12.3 (hereafter the "Conditions of Renewal"). If renewed, the first Renewal Term will commence on the day immediately following the last day of the Initial Term and if further renewed, the second Renewal Term will commence on the day immediately following the last day of the first Renewal Term.