Renewal Conditions as used herein shall mean the following:
Renewal Conditions. This plan will automatically renew at the end of your membership term on an annual basis. ADP will continue the paycheck deductions automatically (assuming your employer continues to receive ADP services that include payroll deduction features.)
Examples of Renewal Conditions in a sentence
Lessee shall have the right to renew this Lease for four (4) successive five (5) year periods (each a “Renewal Term”) provided that the Renewal Conditions, as defined herein below, are met for each such Renewal Term.
More Definitions of Renewal Conditions
Renewal Conditions means that as of the date of the Renewal Notice (x) the Tenant is not then in monetary default or material non-monetary default beyond applicable notice and cure periods under the terms of this Lease and is not insolvent, and (y) named Tenant and/or any Successor Entity (including Tenant Affiliates) with respect to whom a Permitted Transfer has occurred are in the aggregate in occupancy of not less than 80% of the Renewal Premises as comprised as of the date of the Renewal Notice and (z) Tenant has not executed a binding agreement to lease space in any other building with the intention of relocating from the Premises to such other building a majority of its personnel who have been located at the Building.
Renewal Conditions means that, immediately prior to (i) the date the Tenant delivers the Renewal Notice to the Landlord and (ii) the commencement of the Renewal Term, (A) the Tenant shall not be in default in the payment of any monetary obligation(s) under this Lease which, individually or in the aggregate, exceed $50,000 ("Material Default"), for more than five (5) days after notice, provided, however, that if a Material Default is continuing at the time the Tenant would otherwise have been permitted to exercise its option to renew and extend the term of this Lease for the Renewal Term, and if such Material Default shall be fully cured prior to the Expiration Date and within the five (5) day cure period provided above in
Renewal Conditions means, with respect to the extension of any Scheduled Commitment Expiry Date by a Committed Lender pursuant to Section 2.6 of the Funding Agreement, (i) the negotiation, execution and delivery of legal documentation in form and substance acceptable to such Committed Lender, (ii) in the judgment of such Committed Lender, the satisfactory completion of any investigation or due diligence regarding the Collateral or the Borrower, the Originator or the Servicer requested by such Committed Lender (including the delivery of the agreed upon procedures report relating to such Scheduled Commitment Expiry Date described in Section 5.1(a)(i) of the Funding Agreement), (iii) an Event of Default or Potential Event of Default has not occurred, (iv) all of the representations and warranties of the Borrower, the Originator and the Servicer under the Transaction Documents are true and correct on the Scheduled Commitment Expiry Date then in effect (unless a representation and warranty speaks to an earlier date, in which case such representation and warranty shall be true and correct as of such earlier date), (v) the Facility Agent, the related Group Agent, the related Conduit Lender and such Committed Lender have not become aware of any information or any other matter relating to the Borrower, the Originator or the Servicer, or relating to the performance of all or a portion of the Collateral, which is inconsistent with any information or other matters previously disclosed by the Borrower, the Originator or the Servicer and (vi) the absence of any event or condition prior to the Scheduled Commitment Expiry Date then in effect that, in the sole discretion of such Committed Lender, could have a Material Adverse Effect or a material adverse effect on any portion of the Collateral or on the business, operations, property, condition (financial or otherwise) or prospects of such Committed Lender, its related Conduit Lender, its related Group Agent, the Borrower, the Originator, the Servicer and/or their respective Affiliates.