Renewal Term Expiration Date definition
Examples of Renewal Term Expiration Date in a sentence
Upon request by Landlord or Tenant made on or following the Renewal Term Commencement Date, the requested party will execute, acknowledge and deliver to the requesting party an amendment to this Lease setting forth the Renewal Term Commencement Date, Fixed Rent for the Renewal Term, and the Renewal Term Expiration Date.
In the event Tenant declines to exercise its option for any Renewal Term, Tenant shall provide written notice to Landlord (the “Non-Renewal Notice”) not later than one hundred and eighty (180) days prior to the Initial Term Expiration Date or the then current Renewal Term Expiration Date.
If Franchisee exercises a Renewal Right, this Agreement shall terminate on the next Renewal Term Expiration Date.
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.
Initial Term Expiration Date: September 30, 2006 Second Renewal Term Expiration Date: September 30, 2030.