Fourth Renewal Term definition

Fourth Renewal Term. As a condition to the right to renew the Third Renewal Term (for years nine and 10) of the License (the “Fourth Renewal Term”), VIASPACE shall have achieved during the Third Renewal Term the following milestones as a condition to any such renewal:
Fourth Renewal Term is defined in Paraxxxxx 0X xx this Lease.
Fourth Renewal Term means July 1, 2024 to June 30, 2025.

Examples of Fourth Renewal Term in a sentence

  • Base Rent for the Fourth Renewal Term and the Fifth Renewal Term, if applicable, shall be the fair market value base rent as negotiated in the future by Landlord and Tenant.

  • Pursuant to Section 1 of the Contract, this Fourth Renewal Term and any subsequent renewals, shall be subject to all specifications and terms and conditions of the Contract, the OAG Certification Agreement, and the Incorporated Documents as defined in Section 2 therein.

  • Tenant acknowledges that if Tenant does not elect to exercise its options to extend the Term of the Master Lease for the Fourth Renewal Term or the Fifth Renewal Term, Landlord will need to sell the Leased Properties or find a new operator to lease the Leased Properties.

  • As provided in the 5th Amendment, Tenant may elect hereafter to further extend the Term of the Master Lease for the Fourth Renewal Term and the Fifth Renewal Term.

  • The Fifth 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 two hundred and seventy (270) days prior to the expiration of the Fourth Renewal Term.

  • The validly exercised Fourth Renewal Term shall be upon the same terms and conditions as the Lease, as amended, except that: (x) the annual Base Rent during the Fourth Renewal Term shall be equal to the Fair Market Rent (as defined in the Second Amendment) as of the commencement of the Fourth Renewal Term; and (y) Tenant shall have no further renewal options pursuant to this Section 10 or any provision of the Lease.

  • As of the Fourth Renewal Term Commencement Date, Tenant’s Base Year for the Existing Premises and the Second Expansion Premises shall be adjusted to 2012.

  • As of the Fourth Renewal Term Commencement Date, Tenant’s Percentage Share shall be adjusted upwards to 40.84%, to take into account the leasing of the Third Expansion Premises to Tenant.

  • On and after the Fourth Renewal Term Commencement Date, all of the terms and provisions of the Lease, as amended hereby, shall apply to both the Existing Premises, the Second Expansion Premises and the Third Expansion Premises.

  • The Fourth Renewal Term is personal to Tenant and may not be exercised by any sublessee or assignee of Tenant.


More Definitions of Fourth Renewal Term

Fourth Renewal Term shall have the meaning set forth in Section 3.2 of this Lease.
Fourth Renewal Term means the term as specified in section 5.6;
Fourth Renewal Term as defined in Section 33.1(a).

Related to Fourth Renewal Term

  • Renewal Term has the meaning set out in Section 9.1.

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

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

  • Renewal Terms means the renewal terms of a Property Schedule, each having a duration of one year and a term coextensive with Lessee's budget year.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Initial Term has the meaning set forth in Section 7.1.

  • Original Term shall have the meaning specified in Section 10 hereof.

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 15, 2016 (“Expiration Date”).”

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Annual Renewal Date means the date in any calendar year, subsequent to the year in which the Policy comes into effect, corresponding numerically with the Policy Commencement date in that subsequent year.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Additional Term means that term commencing on the last day of the Basic Term and terminating one (1) year thereafter.

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

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

  • First Extension Period means the period of one (1) Contract Year commencing immediately after the conclusion of the Initial Exploration Period.

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

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

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

  • Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

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

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;