Renewal Right definition

Renewal Right means the right held by Franchisee to renew this Agreement for the Renewal Term upon the expiration of the Initial Term.
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Renewal Right means that right of an FT Shipper to renew its Service Agreement, as such right of renewal is set forth in Article 6 of the FT Service Schedule.
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Renewal Right means the right the Customer has to renew Service provided by MIPL(C)L, as detailed in the Tariff.
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Examples of Renewal Right in a sentence

  • If Subtenant has duly exercised its Five Year Renewal Right, Subtenant shall be deemed to have renewed this Sublease for the Second Five Year Renewal Term.

  • Subtenant’s Renewal Right is subject to the provisions of the Lease, including Section 9.02 of the Lease, where such provisions are not inconsistent with this Section 28, and the Term of this Sublease, as so renewed pursuant to this Section 28, shall be subject to all of the terms and conditions set forth in this Sublease.

  • If Franchisee desires to exercise the Renewal Right for a Renewal Term, Franchisee shall, no later than twelve (12) months prior to the Expiration Date or Renewal Term Expiration Date, as the case may be, notify Franchisor in writing (the “Renewal Notice”) that Franchisee desires to extend the Initial Term or Renewal Term for the duration of the Renewal Term or the next successive Renewal Term, as the case may be.

  • If Franchisee exercises a Renewal Right, this Agreement shall terminate on the next Renewal Term Expiration Date.

  • Subtenant shall exercise its Initial Renewal Right and Five Year Renewal Right (as hereinafter defined), if applicable (collectively, the “Renewal Right”), if at all, for all of the Premises (“Renewal Premises”).

  • If Franchisee fails to perform any of the acts, or deliver any of the notices required under this Article 3 in a timely fashion, the failure to do so shall be deemed an election by Franchisee to not exercise the applicable Renewal Right and shall automatically cause the applicable Renewal Right to lapse and expire.

  • Provided that Subtenant has timely exercised the applicable Renewal Right and Subtenant is not in default of this Sublease, beyond any applicable grace, notice and cure period, Sublandlord agrees that it shall not exercise its First Renewal Option and Second Five Year Renewal Option, if applicable, under Article 9 of the Lease with respect to less than all of the Premises, unless its First Renewal Option and Second Five Year Renewal Option, if applicable, affect none of the Premises.

  • FNF’s failure to provide the Renewal Notice permitted by this Section 2.2 shall be conclusive evidence of FNF’s intent not to exercise a Renewal Right.

  • If FNF intends to exercise a Renewal Right, FNF shall provide LPS with a written notice of such intent (a “Renewal Notice”) at least six (6) months prior to the Initial Term Expiration Date, or the expiration date of the initial Renewal Period.

  • Such Initial Renewal Right is contingent on Sublandlord’s exercise of its First Renewal Option and such Five Year Renewal Right is contingent on Sublandlord’s exercise of its Second Five Year Renewal Option (as defined in the Lease), if applicable, in each case, under Article 9 of the Lease.


More Definitions of Renewal Right

Renewal Right means the right held by Franchisee to renew this Agreement for successive Renewal Terms upon the expiration of the Initial Term and prior Renewal Terms.
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Related to Renewal Right

  • Renewal Option has the meaning set forth in §12.1.

  • Renewal Notice As defined in Section 1.4(a).

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • Renewal Term has the meaning set out in Section 9.1.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Nonrenewal Notice Date has the meaning specified in Section 2.03(b)(iii).

  • 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.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Option to Extend has the meaning given that term in Section 2.13.

  • Burial right means a right of earth interment.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

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

  • Secondary Refusal Right means the right, but not an obligation, of each Investor to purchase up to its pro rata portion (based upon the total number of shares of Capital Stock then held by all Investors) of any Transfer Stock not purchased pursuant to the Right of First Refusal, on the terms and conditions specified in the Proposed Transfer Notice.

  • ROFR means a right of first refusal to purchase or a right of first offer to purchase one or more of the Mortgaged Properties pursuant to a recorded instrument (or a memorandum thereof) encumbering the applicable Mortgaged Property.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Option Period means the period during which an Option may be exercised.

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

  • Original Rights shall have the meaning set forth in the definition of "Beneficial Owner" above.

  • Option Notice has the meaning set forth in Section 5.2(a).

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

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

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

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

  • Renewal Request means a written notice delivered to the Agent in accordance with Clause 6.6 (Renewal of a Letter of Credit).