Third Extended Term definition

Third Extended Term. If $500,000 cumulatively has been paid to Producer during the Initial, and First through Third Extended Term, then Distributor may extend the term for another two years (the Fourth Extended Term).

Third Extended Term shall have the meaning set forth in Section 6.01(a).

Third Extended Term is inserted in place of reference to the “Second Extended Term” in the Option to Extend, and amended, and (ii) the Expiration Date shall mean the Expiration Date of the Third Extended Term.

Examples of Third Extended Term in a sentence

• Tenant shall pay Landlord Base Rent for the Term in advance in consecutive monthly installments payable on the first day of each month during the Term, the Extended Term, Second Extended Term and the Third Extended Term, commencing on the Commencement Date, in accordance with the Base Rent Schedule attached hereto as Exhibit D.

• Tenant's right to so extend the Term of the Lease is conditioned on Landlord's prior approval of the Extended Term, Second Extended Term, or Third Extended Term, as the case may be.

• The term "Term" used in this Agreement means the Fixed Term, Extended Term, Second Extended Term and Third Extended Term, as appropriate.

• Tenant shall pay Landlord Base Rent for the Term in advance in consecutive monthly installments payable on the first day of each month during the Term, the Extended Term, Second Extended Term and the Third Extended Term, commencing on the Commencement Date provided for in Section 1.03 of the Master Agreement, in accordance with the Base Rent Schedule attached hereto as Exhibit B.

• The Reduced Security Deposit shall be held by Landlord for the duration of the Third Extended Term as security for Tenant’s obligations under the Lease and shall expire at least sixty (60) days following the Extended Termination Date set forth herein.

• As of the Third Extension Date, the schedule of Base Rent payable with respect to the Premises during the Third Extended Term is the following: All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.

• Further, provided that no Event of Default shall exist, the Term of this Agreement shall be automatically further extended for a third renewal term of five (5) years (the "Third Extended Term") unless Tenant shall give Landlord Notice, in the Tenant's sole and absolute discretion, not later than eighteen (18) months prior to the scheduled expiration of the Second Extended Term, that Tenant elects not to so further extend the Term of this Agreement.

• Prior to the Third Extension Date, and on each anniversary thereafter, Tenant shall deliver notice to Landlord, in writing, of the number of unreserved parking spaces that Tenant desires to lease from Landlord for each 12 month period commencing as of the Third Extension Date; provided that at no time during the Third Extended Term shall the total number of parking spaces actually leased by Tenant be fewer than the Minimum Spaces.

• Time shall be of the essence with respect to the giving of the Notices contemplated in this Section 2.4. (The First Extended Term, the Second Extended Term, and the Third Extended Term are collectively referred to as the "Extended Terms").

• The First Extended Term, Second Extended Term and Third Extended Term are hereinafter individually and collectively referred to as the "Extended Term".

More Definitions of Third Extended Term

Third Extended Term means a period of five (5) years commencing upon the expiration of the Second Extended Term.

Third Extended Term as defined in Section 2.2. Third Extended Term Required DSC Amount - as defined in Section 10.2.1. Tri-Party Agreement - that certain Tri-Party Agreement among Tenant, Hotel Manager and Agent, on behalf of itself and the other Lenders, dated of even date herewith. UCC - as applicable, the Uniform Commercial Code as in effect from time to time in the Commonwealth of Massachusetts or any other jurisdiction whose Laws govern the creation, attachment, perfection or priority of any security interest (including, for this purpose, any collateral assignment or lien) granted or purported to be granted to or for the benefit of Agent or any Lender pursuant to the Loan Documents, including (but not limited to) any jurisdiction where Borrower or any of the Collateral is deemed located. UCC Financing Statements – collectively, all financing statements under the UCC filed or recorded from time to time by or for the benefit of Agent or any Lender in connection with the Loan.

Third Extended Term means a five (5) year option to extend the Term (as further described in Article 4.0(b) below) commencing on December 1, 2026 and continuing through November 30, 2031.