Lease Renewal Term definition

Lease Renewal Term means any “Renewal Term” under (and as defined in and subject to the terms of) the Lease that becomes effective under the Lease in accordance with its terms.
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Lease Renewal Term means a further period of 5 years from the expiry of the Lease Term.
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Lease Renewal Term is defined at Section 4.7(a) of the Participation Agreement.
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Examples of Lease Renewal Term in a sentence

  • The Initial Term of this Agreement shall automatically extend (any such extension, a “Renewal Term”) upon the commencement of any Lease Renewal Term under the Lease and shall expire on the date such Lease Renewal Term expires under the Lease, unless terminated earlier in accordance with the express terms of Section 16.2 of this Agreement.

  • Any Renewal Term of this Agreement shall automatically further extend upon the commencement of any additional Lease Renewal Term under the Lease and shall expire on the date such Lease Renewal Term expires under the Lease, unless terminated earlier in accordance with the express terms of Section 16.2 of this Agreement.

  • Lessee's lease during the Second Lease Renewal Term shall be upon the same terms as for the Second Lease Initial Term, except that the Base Rent (hereinafter defined) will adjust as hereinafter provided and at the Second Lease Renewal Term, Lessee will have no further right to renew this Second Lease, and the Second Lease shall terminate.

  • Provided that Lessee is not in default under this Lease beyond applicable notice and cure periods at the time of the exercise of the Renewal Option granted herein, Lessee shall have the option (the "Initial Lease Renewal Option") to renew the Initial Lease for one (1) additional term of ten (10) years (the "Initial Lease Renewal Term") commencing on the first day of the calendar month immediately following the expiration of the Initial Term.

  • THE LESSOR shall provide to THE LESSEE the statement of the outstanding dues payable by THE LESSEE, if any, and other estimated charges payable under the Lease Deed, supported with relevant documents, Fifteen (15) days prior to the expiry of the Lease Term/ Lease Renewal Term (if any) and THE LESSEE undertakes to clear the aforesaid amounts and provide the TDS certificates regarding the payments made to THE LESSOR within the permissible time frame as per the income tax regulations.

  • Lessee's lease during the Initial Lease Renewal Term will be upon the same terms as for the Initial Lease Term, except that the Base Rent (hereinafter defined) will adjust as hereinafter provided and during the Renewal Term Lessee will have no further right to renew this Initial Lease.

  • The Lease Renewal Term shall only be effective if a fresh lease deed is executed between the Parties stamped and registered before the expiry of Lease Term.

  • Pursuant to Section 4(B)(2) of the Pipeline Lease Agreement (which is entitled “Option to Renew”), Alon hereby exercises the Second Lease Renewal Option, and the Second Lease Renewal Term shall expire on July 31, 2020.

  • In addition, the Sale Option shall automatically be revoked if there exists an Event of Default, Significant Environmental Event or an Event of Loss at any time after the Sale Option is properly elected or the Lessee fails to pay the Sale Option Recourse Amount to the Administrative Agent by not later than the last day of the Base Term (unless the Lease is renewed for the Lease Renewal Term in accordance with the terms hereof).

  • Provided that Lessee is not in default under this Lease beyond applicable notice and cure periods at the time of the exercise of the Renewal Option granted herein, Lessee shall have the option (the "Second Lease Renewal Option") to renew the Second Lease for one (1) additional term of ten (10) years (the "Second Lease Renewal Term") commencing on August 1, 2010.


More Definitions of Lease Renewal Term

Lease Renewal Term means such further term(s) from the expiry of Lease Term as provided in Annexure C-I.
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Lease Renewal Term is defined in Section 19.1(a) of the Lease.
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Lease Renewal Term means such further term(s) from the expiry of Lease Term as provided in Annexure C-I. “Lease Term” shall mean such period from lease Commencement Date as provided in Annexure C-I. “Lock-in period’’ shall mean such period from Lease Commencement Date as provided in Annexure C-I. “LOI” shall mean the letter of intent executed in respect of leasing of Demised Premises, as provided in Annexure C-I. “Maintenance Charges” shall mean the monthly charges towards the maintenance services, as provided in Annexure C-I. “Monthly Rent” shall mean the monthly rent payable in respect of Demised Premises, as provided in Annexure C-I. “Notice Period” shall mean notice period as provided in Annexure C-I. “Other Miscellaneous Charges” shall mean the charges as applicable and as provided in Annexure C-I. “Power load” shall mean the power load as provided in Annexure C-I. “Property” shall collectively mean Said Plot, Said Complex and Said Building. “Rent Commencement Date” shall mean the date for commencement of payment of Monthly Rent, as provided in Annexure C-I. “Said Building” shall mean such block(s) / tower(s) of Said Complex as provided in Annexure C-I. “Said Complex’’ shall mean the complex constructed on a part of Said Plot, as provided in Annexure C-I. “Said Plot” shall mean the parcels of land in sectors 24, 25 & 25A, Gurgaon for which license(s) for development of Cyber City have been granted by Governmental Authority. - 4 -
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Related to Lease Renewal Term

  • Renewal Term has the meaning set forth in Section 2.

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

  • 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.

  • Renewal Period the period described in clause 13.1.

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

  • 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.

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

  • 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.

  • 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.

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

  • 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.

  • 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

  • Base Rent $ 25,024 per month ("Base Rent"), payable on the 1st day of each month commencing on the Commencement Date (Also see Paragraph 4.) [ ] If this box is checked, this Lease provides for the Base Rent to be adjusted per Addendum ___, attached hereto. (a) Base Rent Paid Upon Execution: $ N/A as Base Rent for the period N/A.

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

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • 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.

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

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Basic Term shall have the meaning specified in Section 2.2 of the Lease.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • 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 June 30, 2019.”

  • Lease Commencement Date means the Closing Date. The “Lease Expiration Date” shall mean the later of (i) the date of the final payment in full of the French Advances and (ii) the Vehicle Lease Expiration Date for the last Lease Vehicle leased by the Lessee hereunder. The “Term” of this Agreement shall mean the period commencing on the Lease Commencement Date and ending on the Lease Expiration Date.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.