Examples of Options to Renew in a sentence
The Parties hereby agree that Tenant has exercised the first of three options to extend the Term of the Lease as described in Section 45 of the Lease and Tenant shall hereby retain two (2) remaining Options to Renew as described therein.
Provided Tenant is not then in default under any term(s) or provision(s) of this Lease beyond the expiration of any applicable notice and cure period, Tenant shall have Options to Renew this Lease for one (1) additional period of five (5) years each at the Rental Rates outlined below; and under the same terms and conditions as provided in the Original Terms of this Lease.
Once the total Term has reached forty (40) years minus one (1) day, any remaining Option(s) to Renew, together with the provisions of Section 2 of this Schedule “A”, shall be deemed null and void and of no further effect.
Options to Renew: Two (2) option(s) to renew, each for a term of thirty (30) months.
Provided the Lease is in good standing and no default by Tenant exists hereunder and no event has occurred that with the passage of time and/or the giving of notice would result in a default by Tenant hereunder, Landlord hereby gives and grants to Tenant the right, privilege and option of extending this Lease in accordance with the Options to Renew set forth in Section 22 of the Basic Lease Provisions.