Examples of Renewal Option in a sentence

The term of each Renewal Option shall be two years in length and referred to as a “Renewal Term”.
FURTHERMORE, the CITY and LESSEE agree that this Amendment shall apply retroactively to the latest Renewal Option, that the next Renewal Term shall begin on February 1, 2023 and end on January 31, 2025; and that the rent for each year of the next Renewal Term shall be set annually by the City Council in their annual resolution establishing the rates, fees, and charges pertaining to the Minot International Airport (hereinafter “City Council Resolution”).
The Term shall include all timely exercised Renewal Options, so long as Tenant is not in default under this Lease beyond any applicable cure period at the time of exercise of a Renewal Option.
The Government agree to pay the sum not to exceed Five Million, Six Hundred Eighty-Eight Thousand Dollars and Zero Cents ($5,688,000.00) for each Renewal Option exercised.
The parties must mutually agree to the land rental rate and execute the Renewal Option a minimum of ninety (90) days prior to the expiration of the Base Term or prior Renewal option.

More Definitions of Renewal Option

Renewal Option has the meaning given in Section 25.1(a).

Renewal Option. Defined in Section 37.A hereof.

Renewal Option is defined in Section 3.2.

Renewal Option means each of the options to allow the Term of this Lease to be extended for a Renewal Term, as more particularly described in Section 2.2 of this Lease.

Renewal Option. As defined in Section 1.3(b).

Renewal Option shall have the meaning specified in Section 21.1 of the Lease.

Renewal Option means the First Renewal Option, the Second Renewal Option, or either of them, as the context may require.