Term Extension Option definition

Term Extension Option is defined in Section 2.5(b).
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Term Extension Option has the meaning set forth in Section 8.1(b).
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Term Extension Option has the meaning specified in Section 2.14.
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Examples of Term Extension Option in a sentence

  • Landlord may also send Tenant the reminder notice no more than fifteen (15) months before the then current Term’s expiration, in which event Tenant shall have thirty (30) days from receipt of the reminder notice or twelve (12) months from before the expiration of the then current Term, whichever is later, in which to exercise the Term Extension Option.

  • If Subtenant timely exercises the Initial Term Extension Option, Subtenant’s leasing of the Subleased Premises during the period (the “Initial Term Extension Period”) commencing on the day following the Termination Date and continuing through the Initial Term Expiration Date shall be upon the same terms and conditions as are set forth herein, except that Subtenant shall pay Net Rent during the Initial Term Extension Period in the amounts set forth on Exhibit “E” attached hereto.

  • Notice of the exercise of any Term Extension Option shall be given by Tenant to Landlord at least nine (9) months prior to the expiration of the then current Term.

  • Sublandlord grants to Subtenant one (1) option to extend the Term ("Extension Option") for a period of two (2) years ("Option Term"), subject to the conditions described in this Section 3.2. Subtenant shall have no other right to extend the Term beyond the Option Term.

  • Where no Term Extension Options remain, the Annual Rent for the Extra Period shall be the same as the Annual Rent for the final Term Extension Option.

  • Landlord grants to Tenant two (2) options to extend the Lease Term ("Extension Option") for a period of five (5) years each ("Option Term").

  • If Tenant extends the Term for the Extra Period and has not exercised all of its Term Extension Options, the Annual Rent payable for the Extra Period shall be the same as the Annual Rent payable for the next unexercised Term Extension Option.

  • If Tenant fails to exercise timely any Term Extension Option, Landlord shall send a reminder notice to Tenant that Tenant has failed to exercise its Term Extension Option within the provided time period and Tenant shall have thirty (30) days from receipt of the reminder notice in which to exercise its Term Extension Option.

  • For the avoidance of doubt, the commencement date of any Term Extension Option shall be an Adjustment Date.

  • Lessee has the option to extend the Term ("Extension Option") for two additional 5-year periods beginning February 6, 2019 and ending February 5, 2024 (“Initial Extended Term”) and beginning February 6, 2024, and ending February 5, 2029 ("Second Extended Term").


More Definitions of Term Extension Option

Term Extension Option. [***] UDC/SDC Confidential Page 14 of Exhibit B Press Release Format Samsung Display and Universal Display Corporation Enter into Long-Term OLED Agreements Ewing, New Jersey – [DATE] - Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced the signing of long-term OLED material supply and license agreements with Samsung Display Co., Ltd. (SDC), a global display manufacturing leader. These agreements affirm that Universal Display Corporation will continue to supply its proprietary UniversalPHOLED phosphorescent OLED materials and technology to Samsung Display for use in its OLED displays. The agreements are scheduled to run through December 31, 2027, and may be extended for an additional two year period. Financial terms of the agreements have not been disclosed. “We are pleased to announce the signing of these long-term agreements with Samsung Display, our partner for more than two decades,” said Sxxxxx X. Xxxxxxxx, President and Chief Executive Officer of Universal Display Corporation. “Through our twenty-plus years of innovation and materials supply, our cooperation and collaboration with SDC has grown stronger and broader. As we enter new frontiers of the OLED revolution, we look forward to continuing to work hand-in-hand to support Samsung’s product roadmaps of advanced, inventive and beautiful OLED displays with our expanding portfolio of highly-efficient, high-performing proprietary OLED technologies and UniversalPHOLED materials.” About Universal Display Corporation [Use then current Universal Display “About” Paragraph and SEC Forward Looking Disclaimer language] UDC/SDC Confidential Page 15 of Exhibit C Content of Proposed 8-K Filing
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Term Extension Option. As defined in Section 2.6 of this Agreement. Title Company: First American Title Insurance Company.
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Related to Term Extension Option

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

  • Second Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.

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

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

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

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

  • 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.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • REO Extension As defined in Section 3.16(a).

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Extended Term shall have the meaning set forth in Section 2.

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Line Extension means the provision of facilities (including, but not limited to, poles, fixtures, wires, and appurtenances) necessary for delivering electrical energy from the point of origin to one or more of the customer's points of delivery. Facilities provided by the Company to maintain, protect, upgrade, or improve its overall distribution system (even if necessary due to a customer's load addition) are not considered part of a line extension.

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

  • Resolution Extension Period As defined in Section 2.03(b).

  • Renewal Term has the meaning set forth in Section 2.

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

  • Notice of Extension has the meaning specified in Section 2.20.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

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

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Patent Term Extension means any term extensions, supplementary protection certificates and equivalents thereof offering Patent protection beyond the initial term with respect to any issued Patents.

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • End of Term Extension means the time period defined in §2.D.