Extension Option Period definition

Extension Option Period has the meaning as set forth in Sub-Article 50(B).
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Extension Option Period. Subject to the provisions of Sections 24 & 25 1.7 Initial Monthly Base Rent: $18,252.00 1.8 Prepaid Base Rent: $18,252.00 1.9 Periodic Increase In Base Rent: Lease Year 2 $18,799.56 3 $19,363.55 4 $19,944.45 5 $20,542.78 6-10 Subject to the provision of Section 5.4
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Extension Option Period. Subject to the provisions set forth in Section 23 Adjustment to Monthly Base Rent:
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Examples of Extension Option Period in a sentence

  • The option period may be extended by Tenant for two (2) six (6) month periods (the “Extension Option Period(s)”) upon Tenant’s written notice to Landlord before the end of the Initial Option Period or prior Extension Option Period, as applicable, together with payment of One Thousand Dollar ($1000.00) (the Initial Option Period and Extension Option Periods are hereinafter collectively referred to as the “Option Period”).

  • The Base Rent for the extension term shall equal the greater of (i) the Base Rent payable by Tenant as of the last month of the Term prior to the commencement of the Extension Option Period, and (ii) one hundred percent (100%) of the fair market rental value as of the Expiration Date for the occupancy of the Premises for the permitted use under this Lease, determined using the “market comparison approach” described below (“Market Rent”).

  • Monthly lease payment for each successive twelve month period of this lease, in years two through ten (this period encompasses the initial period and the first Extension Option Period) shall be increased by 2% of the amount of the preceding period.

  • Following the determination of the Market Rent, if Market Rent is determined to be other than as designated by Landlord, there shall be adjustment made to the Base Rent payment then due for the difference between the amount of Base Rent Tenant has paid to Landlord since the commencement of the Extension Option Period and the amount that Tenant would have paid if the Base Rent as adjusted pursuant to this subsection had been in effect as of the commencement of the Extension Option Period.

  • Following expiration of the First COVID Delay period and the Second COVID Delay period, if exercised, any further extension of individual Schedule of Performance milestone dates or the Term Sheet Phase (not including use by Developer of any remaining Extension Option Period) shall require mutual agreement of the Parties each in their sole and absolute discretion.

  • The Mezzanine Lenders shall also have certain cure rights in connection with the non-exercise by Senior PledgeCo of its rights to submit the applicable extension option notice, prior to the end of the First Extension Option Period or Second Extension Option Period (as applicable).

  • Developer shall have the right, in Developer’s sole and absolute discretion, to elect to extend the time for performance for any component of the Developer’s Work set forth in the Schedule of Performance by written notice to District, provided that each such extension shall be for a period of sixty (60) days (the “Extension Option Period”) and there shall be no more than one (1) Extension Option Period during the Term Sheet Phase.

  • Contract Option: First Extension Option Period (2022 Project) $ XX In no event shall the amount billed to City by Consultant for Basic Services under the first Option Period (2022 project) of this Agreement exceed XXX dollars ($XX,XXX), subject to budget appropriations.

  • If Metuchen does not pay the additional One Hundred Thousand Dollars ($100,000.00) within the Extension Option Period, then this Agreement is automatically terminated immediately with no further obligations due by either party to the other.

  • The Parties acknowledge and agree that the Developer exercised its remaining Extension Option Period pursuant to Section 2.1 of the ENA with its submittal of the 2.0 Feasibility Plan which automatically extended the Term Sheet Phase from January 28, 2020 to March 28, 2020.

Related to Extension Option Period

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Renewal Option has the meaning set forth in §12.1.

  • Option Period means the period during which an Option may be exercised.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Extension Term means the time period defined in §2.C.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Initial Optional Termination Date The first Distribution Date on which the aggregate Stated Principal Balance of the Mortgage Loans is equal to or less than 10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Election Period means the period immediately preceding the beginning of each Plan Year established by the Administrator, such period to be applied on a uniform and nondiscriminatory basis for all Employees and Participants. However, an Employee's initial Election Period shall be determined pursuant to Section 5.1.

  • Extension Notice has the meaning specified in Section 308.

  • Put Option Notice means a notice which must be delivered to a Paying Agent by any Noteholder wanting to exercise a right to redeem a Note at the option of the Noteholder;

  • Renewal Period the period described in clause 13.1.

  • Early Termination Notice Date Any date as of which the aggregate Stated Principal Balance of the Mortgage Loans (including REO Mortgage Loans) is less than 1.0% of the sum of the aggregate Cut-Off Date Balance of the Mortgage Pool initially included in the Trust Fund.

  • Extension Period has the meaning specified in Section 3.12.

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of (1) two years following such Change in Control or (2) the Executive’s death.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.