Term Extension Option. Either Party may provide written notice to the other Party that such Party intends for this Agreement to terminate at the end of the Term not later than five (5) years prior to the end of the Term and at least one (1) year prior to the end of every fifth (5th) year thereafter. In the event that neither Party has provided written notice to the other Party that this Agreement shall terminate at the end of the Term, the Term shall be automatically extended for additional successive five (5) year periods (collectively, the “Extended Term”).
Term Extension Option. (A) The term of this Lease shall be for one (1) year (hereinafter referred to as the “Term”) and is intended to commence on the 1st day of February, 2001 (hereinafter referred to as the “Commencement Date”) and end on the 31st day of January, 2002 (hereinafter referred to as the “Expiration Date”), unless sooner terminated as provided herein. Tenant shall have unlimited automatic extensions to extend the term of the Lease for a period of one (1) year each (the “Extension Term”), upon giving Landlord three (3) months advance written notice prior to the expiration of the then Expiration Date, of its election to exercise each option provided that Tenant remains a majority owned Subsidiary of Landlord at the time of exercise of each option to extend the Term. All terms of this Lease shall apply during any Extension Term and references to the Expiration Date will incorporate the extensions, except that the Base Rent shall be determined in a manner consistent with the determination of Rent in the first year of the Term and otherwise negotiated in good faith between the parties prior to the commencement of each Extension Term.
Term Extension Option. The outstanding balance of the Loan, together with all accrued and unpaid interest and other amounts accrued and unpaid under the Loan Documents, shall be payable in full on the earliest to occur of (i) Xxxxx 0, 0000, (xx) the acceleration of the Loan pursuant to Section 10.2(a), or (iii) Borrower’s written notice to Lender (pursuant to Section 2.4(a)) of Borrower’s election to prepay all accrued Obligations (said earliest date referred to herein as the “Maturity Date”); provided, however, that Borrower shall have the right to one (1) extension of the date referred to in clause (i) above, for an additional ninety (90) day period (i.e., to June 9, 2009), as follows:
Term Extension Option. 3.1 The initial term Lease shall be fifteen (15) months (the initial “Term”), starting on the Term Commencement Date and ending on the Term Expiration Date, subject to earlier termination of this Lease as provided herein.
Term Extension Option. (i) The Borrower shall have three options (each, a “Term Extension Option”) to extend the Term Maturity Date for a period of one (1) year per extension (each such period, a “Term Extension Period”). Subject to the conditions set forth in clause (ii) below, Borrower may exercise each Term Extension Option by delivering written notice (a “Term Extension Notice”), together with the payment of the first installment of the Term Extension Fee for the account of the Term Lenders (based on their respective Pro Rata Shares for the Term Facility), to the Administrative Agent on or before the date that is at least 30 days, but not more than 180 days, prior to the then applicable Term Maturity Date, stating that Borrower will extend the Term Maturity Date for one (1) year (or if such date that is one year after the Term Maturity Date is not a Business Day, the next succeeding Business Day). Borrower’s delivery of a Term Extension Notice shall be irrevocable. In no event shall the Term Maturity Date occur later than May 30, 2019.
Term Extension Option. The Term of this Lease shall be deemed to have begun on the Commencement Date. . In the event that Landlord grants Tenant one or more options to extend the Term (each, individually, an "Extension Term", and collectively, the "Extension Terms"), the following terms and conditions shall apply: Each Extension Term shall commence upon the expiration of the initial Term or the applicable Extension Term. Provided that (i) Tenant has paid Rent throughout the immediately preceding Term or Extension Term, as the case may be, and submitted reports in a timely fashion as required hereunder, (ii) Tenant is not then in uncured material default under this Lease and no event has occurred which, with notice or the passage of time or both, would constitute a material default by Tenant under this Lease, (iii) at the time of Tenant's exercise of the applicable option to extend, there has been no material adverse change in Tenant's financial condition, (iv) any prior option rights have already been exercised, and (v) Tenant exercises each option by delivering to Landlord written notice of the exercise of each such option no later than six (6) months prior to the expiration of the Term, as it may have been extended, Tenant shall have the right to extend the Term or the applicable Extension Term. If the Term is extended by reason of the foregoing, the Term and all of the terms and conditions of this Lease shall continue in full force and effect to the end of each Extension Term. This option is personal to the original Tenant signing this Lease and may not be exercised by any assignee, subtenant or transferee of Tenant.
Term Extension Option. A. This Contract may be extended by the Borough with a written request by the BUYER(S) for a period to be determined by the Borough’s Division of Natural Resources Development.
B. Upon extension of Contract, BUYER(S) agrees to pay the Borough the sum of ONE HUNDRED DOLLARS ($100) per acre, to the nearest acre, for every acre left un-logged after the initial Contract period.
Term Extension Option. 1.01. From and after the Expansion Premises Commencement Date (as hereinafter defined), the definition "Initial Term" in Section 1.2 of the Original Lease shall be deleted and replaced with the following: "Initial Term: Approximately six (6) years and eight (8) months commencing on the Commencement Date and expiring at 11:59 p.m. on February 28, 2013 (the "Expiration Date")". 1.02. From and after the Effective Date, Section 14.30 ("Option to Extend") of the Original Lease shall be amended by (i) replacing the words "three (3) years" in the first sentence of the first paragraph with the words "five (5) years" and (ii) replacing the words "calendar year 2010 and Fiscal Year 2011" in the first sentence of the third paragraph with the words "calendar year 2013 and Fiscal Year 2014".
Term Extension Option. A. Subject to and upon the conditions set forth herein, the initial term of this Lease (the "Initial Term") shall commence on May 1, 2007 (the "Commencement Date"), and shall end at midnight on the day before the sixth (6th) anniversary of the Commencement Date (i.e., April 30, 2013) (the "Stated Expiration Date"), unless extended or sooner terminated as herein provided.
Term Extension Option. In the event that the Service Provider achieves the level of performance with respect to the criteria set forth in Appendix 6 hereto during the first ten (10) years of the Term, the Parties shall negotiate in good faith an extension of the Term to twenty (20) years from the Service Commencement Date on substantially similar terms and conditions as set forth herein.
