Extension Rights definition

Extension Rights. Yes [X] No [_] (subject to the terms and conditions of the attached Addendum No. 1). --------------

Extension Rights means the right of Seller or its Affiliates to (i) renew and extend the term of any licenses or covenants not to xxx granted by Seller and/or its Affiliates which constitute Existing Rights and (ii) modify or amend any such licenses or covenants not to xxx in accordance with, and solely pursuant to, an obligation contained therein and solely per the terms and conditions of such license or covenant not to xxx in existence as of the Effective Date; provided that the initial license or covenant not to xxx did not extend just to any one or more of the Patents themselves; and further provided, that such renewals, extensions, modifications, or amendments (a) do not confer any exclusive rights with respect to the Assigned Patent Rights, (b) do not confer upon the licensee any sublicense or assignment rights under the Assigned Patent Rights, other than what was set forth in the Existing Right, (c) do not confer any license rights upon an Unlicensed Person (as defined below); provided, however, an Unlicensed Person may become licensed due to an acquisition or merger with a Prior Rights Holder to the extent, and subject to any applicable limitations, provided in the Existing Rights; (d) do not create or modify any affirmative duties or obligations owed by Purchaser or Affiliates of Purchaser other than Existing Rights; and (e) do not confer any rights with respect to any intellectual property of Purchaser or Affiliates of Purchaser other than the Assigned Patent Rights.

Extension Rights. Tenant has the right to extend the Term of the Lease for one extension period of five (5) years on terms and conditions set forth in the Lease.

Examples of Extension Rights in a sentence

• The period of time within which any Extension Rights may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Extension Rights.

• Extension Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in the Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease.

• The Extension Rights shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but prior to the commencement date of an Extension Term, (i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of an Extension Right to the date of the commencement of the Extension Term, whether or not such Defaults are cured.

• Extension Rights are personal to Tenant and are not assignable without Landlord’s consent, which may be granted or withheld in Landlord’s sole discretion separate and apart from any consent by Landlord to an assignment of Tenant’s interest in this Lease, except that they may be assigned in connection with any Permitted Assignment of this Lease.

• The Extension Rights shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of an Extension Right, if, after such exercise, but prior to the commencement date of an Extension Term, (i) Tenant fails to timely cure any default by Tenant under this Lease; or (ii) Tenant has Defaulted 3 or more times during the period from the date of the exercise of an Extension Right to the date of the commencement of the Extension Term, regardless of whether such Defaults are cured.

More Definitions of Extension Rights

Extension Rights. Subject to any potential changes in law, regulation or equivalent ordinance that requires Seller to expend substantial investment to continue to operate the facility, Buyer may, in its sole discretion, extend the Term of the facility under the PPA for up to two (2) additional five-year extensions at the 1St and 2nd Option PPA Fixed Price listed in the table above. Opinion Letter: Buyer to provide legal confirmation that such PPD has abided by all regulations and laws necessary to enter into a PPA and any ancillary agreements with Seller Please consider the following when selecting locations. This will greatly aid in Xxxxxx’s ability to hold the Price.

Extension Rights shall have the meaning set forth in Section 3.2.

Extension Rights. Yes: One (1) Option to Extend for a period of two (2) years (Section 3.2).

Extension Rights set out in Schedule "B"

Extension Rights the rights to extend and renew the Term of this Lease, ifany, as set out in Schedule "B";

Extension Rights. Two (2) consecutive options to extend the Original Term for an additional five (5) years each.

Extension Rights. Yes X No__ (If yes, see Addendum to Lease).