Term; Renewal Options. Paragraph 5(a) of the Lease is hereby deleted in its entirety and the following shall be inserted in lieu thereof:
Term; Renewal Options. (a) The term of this Lease shall be for a period of ten (10) year(s), beginning on September 1, 2010 (the “Lease Commencement Date”). Landlord agrees that it will, prior to the Lease Commencement Date, at its sole cost and expense, commence and pursue to completion the Landlord’s Work set forth on Exhibit B attached hereto.
Term; Renewal Options. A. Tenant shall have and hold the Premises for the Initial Term specified in Summary Section 1D. above, commencing on the date determined in the manner provided in Subsection 3B. below and expiring at the end of the Initial Term specified in Summary Section 1D. above or until such Term sooner shall terminate as hereinafter provided.
Term; Renewal Options. The term of the Lease is approximately 177 months, commencing on the Commencement Date and expiring on the Expiration Date, subject to the terms of the Lease. Subject to the terms and conditions of the Lease, the Lease provides Tenant right to extend the term of the Lease, (i) for one (1) additional term of, at Tenant’s election, at least five (5) years, but not more than ten (10) years (the “First Renewal Term”); (ii) following the First Renewal Term, for one (1) additional term of, at Tenant’s election, at least five (5) years, but not more than the lesser of (x) ten (10) years and (y) the amount of years that when added to the First Renewal Term equals fifteen (15) years (the “Second Renewal Term”); and (iii) following the Second Renewal Term, provided the term of the First Renewal Term and the Second Renewal Term do not exceed ten (10) years, for one (1) additional term of five (5) years.
Term; Renewal Options. The term of this Lease shall commence on the Effective Date and expire at 11:59 p.m. on the day before the fifteenth (15th) annual anniversary of the Effective Date (the "Lease Term"). If Tenant is not in default under this Lease at the end of the initial Lease Term, Tenant shall have the right to renew the Lease Term for successive periods of five (5) years, five (5) years and then four (4) years by giving Landlord written notice of Tenant's intent to renew the Lease at least one hundred twenty (120) days before the expiration of the then-current Lease Term. The renewal shall be on the same terms and conditions contained in this Lease, except that the Base Rent shall be as set forth below.
Term; Renewal Options. The “Term” of this Lease means the Initial Term described in Section 2(a) hereof plus any extension of the term through the Renewal Option (if exercised).
Term; Renewal Options. (a) The Termination Date for the initial Term of the Lease, which had previously been established as April 14, 2010 pursuant to the Commencement Letter dated April 20, 2004 executed by Tenant and by the original landlord under the Lease, is hereby extended to April 14, 2012.
Term; Renewal Options. This Agreement shall commence upon the date that Licensee's equipment arrives and is installed and fully operational for use at the Premises, which the parties anticipate to be on or about June 11th 2013, (the "Commencement Date"),and shall continue for a term of twenty four (24) months, unless sooner terminated as herein provided (the "Initial Term") . licensee shall have two (2) options to renew the term of this Agreement (each, a "Renewal Option") for twelve (12) months (each, a "Renewal Term"). licensee shall exercise a Renewal Option by providing written notice thereof to licensor not later than sixty (60) days prior to the expiration of the Initial Term or the expiration of the first Renewal Term, as applicable. The Initial Term, together with any Renewal Term for which Licensee has exercised a Renewal Option, is herein referred to collectively as the "Term". Licensee acknowledges that Licensor does not own the Premises but is the lessee pursuant to a lease with 5757 Associates, dated December 3, 1996, as amended (hereinafter referred to as the "Masterlease"). This Agreement, and all rights of licensee hereunder, are and shall be subject and subordinate to the Masterlease, all ground leases, overriding leases and underlying leases of the Premises and all financing obtained by licensor with respect to the equipment provided hereunder or otherwise .
Term; Renewal Options. 2.1 The term (the “Term”) of this Sublease shall commence on the later of (i) September 1, 2009 or (ii) the date that an executed counterpart of this Sublease is delivered to Landlord in accordance with Section 7.07(a) of the Master Lease (the later of such dates, the “Commencement Date”) and shall terminate on the date that is one day prior to the fifth (5th) anniversary of the Commencement Date (the “Expiration Date”), or on such earlier date upon which the Term shall expire or be canceled or terminated pursuant to any of the conditions or covenants of this Sublease or the Master Lease, or pursuant to law, or such later date as the Term may be extended in accordance with Section 26 of this Sublease. Subtenant shall not have any option to extend the term of this Sublease except as expressly set forth in Section 26 herein.
Term; Renewal Options. Subject to the provisions of Section 4.4 of this Article, if Company is not in default of any terms of this Agreement or in the payment of any rents or other charges to Authority, this Agreement may be renewed at the terms and conditions stated hereunder for two five- year periods upon written notice by Company at least 180 days prior to Agreement's expiration and written acceptance by Authority's Chief Executive Officer. Such renewal will be effective by letter without formal amendment to this Agreement. If such renewal options are exercised by Company and approved by Authority, this Agreement will have a final termination date of September 29, 2044. Company and Authority explicitly understand and agree that in no event will additional term renewal options be offered to Company, its successors, or assigns.
