Common use of Term of the Lease Clause in Contracts

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 System, as the case may be, with new equipment, free of any installation charge payable by the Operator; 285 (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon prior written notice of not less than 90 days; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 of this Agreement, in which event the Manufacturer shall have sixty (60) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety (90) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafter, enter upon the premises where the TCS-1 System is located, take possession of the Leased Equipment without previous demand or notice and without legal process, retrieve the Leased Equipment from the TCS-1 System and remove the Leased Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 Systemwith renewal terms, as the case may be, with new equipment, free of any installation charge payable agreed by the Operator; 285parties; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operatoreither party's right to terminate this Lease at the end of any extension year upon by at least 90 days prior written notice of not less than 90 daystermination of the other; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 13.1 of this Agreement, in which event the Manufacturer shall have sixty thirty (6030) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety sixty (9060) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafterwithin thirty (30) days of such notice, enter upon the premises where the TCS-1 System is located, take possession of the Leased Proprietary Equipment without previous demand or notice and without legal process, retrieve the Leased Proprietary Equipment from the TCS-1 System and remove the Leased Proprietary Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term RENEWAL AND PRETERMINATION 2.01 This Contract of the Lease shall be for a period of ten (10) years beginning retroactively on February 21, 1996 and ending on February 20, 2006, renewable for another period of five (5) years (hereinafter referred to as the "Renewal Period"); PROVIDED, HOWEVER, that (i) the LESSEE shall have given the LESSOR or its successor-in-interest written notice of its intention to renew the Lease at least sixty (60) months commencing on the Acceptance date. 4.2.2 At calendar days prior to the expiration of the full original term hereof, if this Lease has remained in effect lease and (ii) the LESSOR or its successor-in-interest and the Operator has duly performed all LESSEE shall have agreed on the rental fees to be based on the prevailing rental rates for similar properties in Paranaque, Metro Manila; PROVIDED, FURTHER, that if the LESSOR or its obligations thereunder during successor-in-interest and the entire such termLESSEE fail to agree on the rental fee within thirty (30) calendar days from the date the LESSOR or its successor-in-interest receives the LESSEE's written notice of renewal, then Contract of Lease 3 Asset Privatization Trust and Allegro Microsystems Phils., Inc. the Operator determination of the rental fee shall be referred to a three-man panel composed of licensed real estate brokers or dealers ("Panel"). Within five (5) calendar days after the lapse of the thirty-day period referred to herein, the LESSOR or its successor-in-interest and the LESSEE shall each designate their respective representative to the Panel who in turn shall select, within five (5) calendar days from receipt of notice of their designation, the third member of the Panel. The decision of the majority of the members of the Panel shall be conclusive and binding on the parties hereto and shall not be appealable or be subject to modification; Provided that if no majority decision is reached by the members of the Panel, the decision of the third member shall be deemed and shall have the option same effect as the decision of the majority of the members of the Panel. Expenses incurred in connection with the constitution and proceedings of the Panel up to either: (a) Obtain a new lease agreement in the form then being generally offered maximum of P50,000.00 shall be shared equally by the Operator to parties and any amount in excess thereof shall be for the trade under which account of the Operator shall replace LESSEE. 2.02 The LESSEE may terminate the Leased Equipment or the entire TCS-1 System, as the case may be, with new equipment, free of any installation charge payable by the Operator; 285 lease upon three (b3) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon months prior written notice of not less than 90 days; or (c) Request that to the Manufacturer exercise LESSOR or its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 of this Agreement, in which event the Manufacturer shall have sixty (60) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety (90) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafter, enter upon the premises where the TCS-1 System is located, take possession of the Leased Equipment without previous demand or notice and without legal process, retrieve the Leased Equipment from the TCS-1 System and remove the Leased Equipment from the Operator's premises at the Manufacturer's expensesuccessor-in-interest.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 Systemwith renewal terms, as the case may be, with new equipment, free of any installation charge payable agreed by the Operator; 285parties; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon prior written notice of not less than 90 daysfive years; or (c) or Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 13.1 of this Agreement, in which event the Manufacturer shall have sixty thirty (6030) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety sixty (9060) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafterwithin thirty (30) days of such notice, enter upon the premises where the TCS-1 System is located, take possession of the Leased Proprietary Equipment without previous demand or notice and without legal process, retrieve the Leased Proprietary Equipment from the TCS-1 System and remove the Leased Proprietary Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 TCTS-1 System, as the case may be, with new equipment, free of any installation charge payable by the Operator; 285; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon prior written notice of not less than 90 days; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 of this Agreement, in which event the Manufacturer shall have sixty (60) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety (90) days of such 305 notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 TCTS-1 System is located and remove the entire TCS-1 TCTS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafter, enter upon the premises where the TCS-1 TCTS-1 System is located, take possession of the Leased Equipment without previous demand or notice and without legal process, retrieve the Leased Equipment from the TCS-1 TCTS-1 System and remove the Leased Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 TCTS-1 System, as the case may be, with new equipment, free of any installation charge payable by the Operator; 285; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon prior written notice of not less than 90 days; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 of this Agreement, in which event the Manufacturer shall have sixty (60) days following the Manufacturer's receipt 368 of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety (90) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 TCTS-1 System is located and remove the entire TCS-1 TCTS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafter, enter upon the premises where the TCS-1 TCTS-1 System is located, take possession of the Leased Equipment without previous demand or notice and without legal process, retrieve the Leased Equipment from the TCS-1 TCTS-1 System and remove the Leased Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 Systemwith renewal terms, as the case may be, with new equipment, free of any installation charge payable agreed by the Operator; 285parties; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at the a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operatoreither party's right to terminate this Lease at the end of any extension year upon by at least 90 days prior written notice of not less than 90 daystermination of the other; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 13.1 of this Agreement, in which event the Manufacturer shall have sixty thirty (6030) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety sixty (9060) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the 411 Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafterwithin thirty (30) days of such notice, enter upon the premises where the TCS-1 System is located, take possession of the Leased Proprietary Equipment without previous demand or notice and without legal process, retrieve the Leased Proprietary Equipment from the TCS-1 System and remove the Leased Proprietary Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 System, as the case may be, with new equipment, free of any installation charge payable by the Operator; 285; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 per month for a period of one year with further successive automatic one-year extensions subject only to the Operator's right to terminate this Lease at the end of any extension year upon prior written notice of not less than 90 days; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 of this Agreement, in which event the Manufacturer shall have sixty (60) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety (90) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafter, enter upon the premises where the TCS-1 System is located, take possession of the Leased Equipment without previous demand or notice and without legal process, retrieve the Leased Equipment from the TCS-1 System and remove the Leased Equipment from the Operator's premises at the Manufacturer's expense.

Term of the Lease. 4.2.1 The term of the Lease shall be sixty (60) months commencing on the Acceptance date. 4.2.2 At the expiration of the full original term hereof, if this Lease has remained in effect and the Operator has duly performed all its obligations thereunder during the entire such term, then the Operator shall have the option to either: (a) Obtain a new lease agreement in the form then being generally offered by the Operator to the trade under which the Operator shall replace the Leased Equipment or the entire TCS-1 Systemwith renewal terms, as the case may be, with new equipment, free of any installation charge payable agreed by the Operator; 285parties; (b) Continue to use the same equipment installed hereunder and thereby extend the term of this Lease at a reduced rental rate of US $6,250 8,770 per month for a period of one year with further successive automatic one-year extensions subject only to the Operatoreither party's right to terminate this Lease at the end of any extension year upon by at least 90 days prior written notice of not less than 90 daystermination of the other; or (c) Request that the Manufacturer exercise its right of first refusal to repurchase the Purchased Equipment pursuant to Section 13.2 13.1 of this Agreement, in which event the Manufacturer shall have sixty thirty (6030) days following the Manufacturer's receipt of such notice to either: (i) notify the Operator of its intent to repurchase the Purchased Equipment and, within ninety sixty (9060) days of such notice, effectuate such repurchase and thereupon enter upon the premises where the said TCS-1 System is located and remove the entire TCS-1 System from the Operator's premises at the Manufacturer's expense, or (ii) notify the Operator that it does not intend to repurchase the Purchased Equipment and, as soon as practicable thereafterwithin thirty (30) days of such notice, enter upon the premises where the TCS-1 System is located, take possession of the Leased Proprietary Equipment without previous demand or notice and without legal process, retrieve the Leased Proprietary Equipment from the TCS-1 System and remove the Leased Proprietary Equipment from the Operator's premises at the Manufacturer's expense.