Third Renewal Term. The parties agree that the Third Renewal Commencement Date was December 1, 2009. As such, the Third Renewal Term expires on November 30, 2014.
Third Renewal Term. (a) Section 10 of the First Amendment is deleted in its entirety and is replaced with the Sections 10(b) through (d) below.
(b) Subject to the terms of this Section 10, Tenant shall have one (1) option (“Third Renewal Option”) to extend the Second Renewal Term for a consecutive period of sixty (60) months beyond the expiration of the Second Renewal Term (“Third Renewal Term”). The Third Renewal Term is personal to Tenant and may not be exercised by any sublessee or assignee of Tenant. The Third Renewal Option must be exercised, if at all, by written notice (“Election Notice”) from Tenant to Landlord given not more than three hundred sixty five (365) days and not less than one hundred eighty (180) days prior to the expiration of the Third Renewal Option. Any such Election Notice given by Tenant to Landlord shall be irrevocable. The Third Renewal Option and Tenant’s delivery of an Election Notice shall be voidable and of no force or effect at the election of Landlord, exercised in Landlord’s sole and absolute discretion, if (i) an Event of Default is occurring under the Lease, as amended hereby, or (ii) there is an event occurring which with the giving of notice or the passage of time, or both, would constitute an Event of Default under the Lease, as amended hereby, either at the time of Tenant’s delivery of the Election Notice or at any time from the date of delivery of such Election Notice through the time of commencement of the Third Renewal Term or (iii) if there has been any materially adverse change in the financial condition of the Tenant, as of the commencement of the Third Renewal Term. If Tenant fails to exercise the Third Renewal Option in a timely manner, as provided for above, then the Third Renewal Option shall be void and of no force and effect. The validly exercised Third Renewal Term shall be upon the same terms and conditions as the Lease, as amended, except that: (x) the annual Base Rent during the Third Renewal Term shall be equal to the Fair Market Rent (as hereinafter defined) as of the commencement of the Third Renewal Term; and (y) Tenant shall have no further renewal options pursuant to this Section 10 or any provision of the Lease. “Fair Market Rent” for the Third Renewal Term shall be equal to the then-prevailing market rent for comparable buildings in Pleasanton, California as reasonably determined by Landlord with written notice given to Tenant prior to the commencement of the Third Renewal Term.
Third Renewal Term. The third Renewal Term shall be for a period of ten (10) years beginning on the thirty-fifth (35th) anniversary of the Restatement Effective Date and ending immediately prior to the forty-fifth (45th) anniversary of the Restatement Effective Date.
Third Renewal Term. The Tenant shall have the option to renew this Lease for a one (1) year term thereafter (“Third Renewal Term”). If Tenant desires to exercise its option to renew, then the Tenant shall exercise such option by giving written notice of its intent to renew to Landlord not more than 60 days prior to the end of the Second Renewal Term. The Base Rent for the Third Renewal Term shall be set forth in Section 5 below.
Third Renewal Term. So long as Lessee is not in default beyond any applicable cure periods under the Lease, Lessee shall have the right and option for a Third Renewal Term provided Lessee shall have provided Lessor written notice of Lessee's intent to exercise Lessee's right and option for a Third Renewal Term at least ninety (90) days prior to the expiration of the Second Renewal Term.
Third Renewal Term. If Licensee has not defaulted or ------------------- materially breached any of the terms of this Agreement, has complied with its obligations under this Agreement in all material respects (without regard to whether Xxxxx has given any notices of default or failure to comply), and if Wholesale Net Sales for the twelve (12) month period ending July 31, 2002 exceeded $30,000,000, Licensee shall have the option (conditioned upon the receipt by Xxxxx of the reports, required pursuant to Paragraphs 3.3 and 3.4 hereof, and the results contained therein), exercisable by written notice given to Xxxxx not later than five (5) months prior to the expiration of the Second Renewal Term, to renew this Agreement for a third renewal term ("Third Renewal Term") of five (5) years, commencing on January 1, 2003 and ending on December 31, 2007, subject to earlier termination as provided in this Agreement.
Third Renewal Term. The third Renewal Term shall be for a period of ten (10) years beginning on February 1, 2032 and ending on January 31, 2042.
Third Renewal Term. Landlord and Txxxxx acknowledge and agree that the current term of the Lease is the Third Renewal Term, which commenced January 1, 2022 and will expire on December 31, 2026.
Third Renewal Term. The parties hereby renew the Existing Agreement for a term commencing on June 14, 2022 and continuing through June 13, 2023 (“Third Renewal Term”), unless terminated sooner as provided in the Agreement. The Board has no remaining options to renew the Agreement after the Third Renewal Term.
Third Renewal Term. Monthly Rent due during the first year of the third Renewal Term is equal to an amount determined in accordance with Section 4.b. below (Revaluation of Rent).
