Option to lease definition

Option to lease means a contract by which a local agency enters an agreement with another entity to allow the latter to lease surplus land at a specified rate for a specified term, or within a reasonable time in the future, but without imposing an obligation to lease upon the option holder.

Option to lease. The option to lease with respect to Building B executed by Landlord and Tenant simultaneously with the execution hereof.

Option to lease means an option issued by the Minister under subsection 44A(4) of the Act to lease a tract of Crown land that is not designated as an aquaculture development area;

Examples of Option to lease in a sentence

• Own site - fee simple Executed ground lease Expires on:   Option to purchase Expires on:   Option to lease Expires on:   Other Describe:   Expires on:   Submit Exhibit 14 and 16.

• Own site - fee simple Executed ground lease Expires on:   Option to purchase Expires on:   Option to lease Expires on:   Other Describe:   Expires on:   Submit Exhibit 14 and 16.

• If Tenant has validly exercised an Option to lease any applicable Expansion Space, within thirty (30) days after request by either party given at any time following the delivery of the Expansion Space Designation Notice, Landlord and Tenant shall enter into a written amendment to this Lease confirming the terms, conditions and provisions applicable to the Expansion Space as determined in accordance herewith.

• If Tenant timely and properly exercises the Building Expansion Option to lease the Building Expansion Space as set forth herein, landlord and Tenant shall, within thirty (30) days thereafter, execute an amendment to this Lease memorializing Tenant's lease of the Building Expansion Space upon the terms and conditions set forth in this Section 1.4.

• Paragraph 42 of the Lease shall be amended to reflect that Tenant shall have the option (the "Expansion Option") to lease up to Five Thousand, Two Hundred Thirty (5,230) square feet of space located in the basement of the Building (the "Basement Space").

More Definitions of Option to lease

Option to lease. Base Rent: $10,617.00 for the period June 1, 2016 through June 30 , 2016.

Option to lease means that certain Option to Lease, dated as of December 9, 2004, between Williston Road Investment, LLC, as “Lessor”, and Seller as “Lessee”, [as the same may be amended by that certain First Amendment to Option to Lease to be executed by Williston Road Investment, LLC, as “Lessor”, and Seller as “Lessee”,] providing an option to ground lease approximately one (1) acre of land contiguous to the Land for additional parking, all on the terms and conditions set forth therein.

Option to lease renew Lessee shall have an option to extend the Operating Term for three (3) additional terms of five (5) years and upon such extensions the Operating Term lease rent shall be reset to the market rate at the time of such extension. Xxxx January 6, 2020

Option to lease has the meaning given in Schedule 20 or the meaning given in an Asset Lease Side Deed, as the context permits or requires. Original Reviewable Services Schedule means the component so named in the Restructure Model Output Schedule, which contains the information required under clause 20.1(b). Outcomes Based Contracting means the linking of a component of the Monthly Service Payment to the achievement of outcomes focused requirements pursuant to clause 20. Overdue Rate means per annum above the Bank Bill Rate. Ownership Schedule means Schedule 14. Partial Termination has the meaning given in clause 33.1(a). Payment Schedule means Schedule 3. Performance and Data Reporting means the services described in section 6 of the Services Specification as varied or supplemented in accordance with any Modification. Performance and Data Reporting Provider means, as at the date of this Agreement, any party listed as such in the Contract Particulars and any person who in addition or substitution is engaged by ServiceCo to carry out any of the Performance and Data Reporting. Performance and Data Reporting Provider Subcontract means any Subcontract between ServiceCo and a Performance and Data Reporting Provider with respect to the Performance and Data Reporting.

Option to lease has the meaning ascribed thereto in Section 2.12(b);

Option to lease the land shall be at the rate of $200 per month from May 1, 2004 through the earliest of conversion to a “Land Lease” or December 31, 2006.

Option to lease means the option of Naporano Iron to lease the property located at 295 Doremus, Newark, New Jersey substantially in the form of Exhibit H.