Third Extension Term definition
Examples of Third Extension Term in a sentence
The period commencing on January 20, 2013 and ending on the Term Expiration Date shall be referred to herein as the “Third Extension Term.” The term “Term”, as used in the Amended Lease, shall refer to the Term as extended by the Third Extension Term.
Consultant hereby represents, warrants and covenants to the Company that the Consultant is under no contractual or other restriction or obligation which is inconsistent with his execution of this Third Extension or the performance of his duties hereunder and that, during the Third Extension Term, Consultant did not enter into any agreement either written or oral in conflict with this Third Extension.
The Company hereby retains the Consultant and the Consultant hereby agrees to perform the services described in Sections 2.1 and 2.2 of the Agreement for the Third Extension Term.
Base Rent during the Third Extension Term shall be One and 95/100 Dollars ($1.95) per square foot of Rentable Area of the Premises per month; provided, however, that Tenant’s obligation to pay Base Rent during the first (1st) month of the Third Extension Term (the “Base Rent Abatement Period”) shall be abated.
The Scheduled Maturity Date, as the same may be extended for the First Extension Term, the Second Extension Term, or the Third Extension Term (subject to the terms and conditions of Section 2.5(B) of the Mezzanine Loan Agreement), or such other date on which the final payment of the Debt becomes due hereunder or under the Mezzanine Loan Agreement or the other Mezzanine Loan Documents, whether at such stated maturity date, by acceleration, or otherwise, shall be referred to herein as the "MATURITY DATE".
Except as modified herein, the Company and Consultant agree that all of the provisions of the Agreement, the Extension and the Second Extension are incorporated herein and shall apply to the Consultancy during the Third Extension Term with the same force and effect as if forth herein.
Lessor shall continue to hold the Security Deposit during the remainder of the initial term and during the Third Extension Term pursuant to Paragraph 7 of the Lease.
During the Third Extension Term (including, without limitation, during the Base Rent Abatement Period), Tenant shall continue to pay (a) Tenant’s Pro Rata Share of Operating Expenses, (b) the Property Management Fee and (c) any other amounts set forth in the Amended Lease.
Buyer shall have the option to approve or reject any or all of the items on Seller’s list, as determined in its discretion on or before the first day of the Second Extension Term or the Third Extension Term, as applicable.
The Third Extension Term shall be upon all of the same terms and conditions of the Lease, except that the Monthly Base Rent payable by Lessee to Lessor during the Third Extension Term shall be as set forth in Paragraph 3 hereof.