Example ContractsClausesRenewal Option
Renewal Option
Renewal Option contract clause examples

RENEWAL OPTION. Provided that this Sublease is in full force and effect and Subtenant is not in default hereunder, beyond applicable notice, grace and cure periods, Subtenant shall have the right to renew the term of this Sublease for one (1) period of one (1) year. In order to exercise such option, Subtenant must so notify Sublandlord, in writing, not less than six (6) months before the end of the initial term of this Sublease, time being of the essence. If Subtenant properly exercises such renewal option, then all of the terms and conditions of this Sublease shall apply to the renewal term, except that Subtenant shall have no remaining renewal options and annual rent shall be $551,176.50 per year ($24.50 per rentable square foot), payable in monthly installments of $45,931.38.

Renewal Option. Seller and Buyer hereby agree to Seller’s exercise of the Renewal Option (from August 19, 2019 to August 19, 2020) on the date hereof and agree that, subject to payment of the Renewal Standby Fee, the Availability Period Renewal Conditions are deemed to have been satisfied.

Provided that there then exists no Event of Default by Tenant under the Lease nor any event that with the giving of notice and/or the passage of time would constitute an Event of Default, and that Tenant or any Transferee pursuant to a Permitted Transfer is the sole occupant of the Premises, Tenant shall have the option to renew this Lease for one (1) additional term of five (5) years (the “Renewal Term”). The Renewal Term shall be subject to all of the terms and conditions of the Lease except # the Base Rent payable during the first year of the Renewal Term shall be equal to the Fair Market Rent (as such term is hereinafter defined), # the Base Rent payable during each subsequent year of the Renewal Term shall be equal to one hundred three percent (103%) of the Base Rent payable during the immediately preceding year, # the Base Years shall adjust to the calendar year 2027, # Landlord shall have no obligations with respect to improvements to the Premises with respect to the Renewal Term and # Tenant shall have no further option to extend the Term. If Tenant chooses to exercise such option, it shall give written notice to Landlord of its exercise of the option at least nine (9) months, but no more than twelve (12) months, prior to the expiration of the then-current Term.

Renewal Option. Tenant shall have the option to extend the Term of the Lease for all of the then leased Premises for one (1) additional period of five (5) years ("Renewal Option"), under and subject to the following terms and conditions:

Renewal Option. Seller and Buyer hereby agree to Seller’s exercise of the First Additional Renewal Option (from August 19, 2020 to August 19, 2021) on the date hereof and agree that, subject to payment of the Renewal Standby Fee, the Availability Period Renewal Conditions are deemed to have been satisfied. Seller and Buyer hereby agree that Seller retains its right to exercise the Second Additional Renewal Option in accordance with [Article 3(h)] of the Master Repurchase Agreement.

Renewal. If immediately prior to the third anniversary (the “Renewal Deadline”) of the initial effective date of the Registration Statement, the aggregate gross sales price of Placement Shares sold by the Company is less than $100,000,000 and this Agreement has not expired or been terminated, the Company may elect to file, prior to the Renewal Deadline, if it has not already done so and is eligible to do so, a new shelf registration statement relating to the Placement Shares, in a form satisfactory to Cowen, and, if not automatically effective, will use its commercially reasonable efforts to cause such registration statement to be declared effective within 60 days after the Renewal Deadline. The Company will take all other action necessary or appropriate to permit the issuance and sale of the Placement Shares to continue as contemplated in the expired registration statement relating to the Placement Shares. References herein to the Registration Statement shall include such new shelf registration statement.

Renewal Option. Tenant shall continue to have its renewal option as expressly set forth in Section 3.4 of the Lease; provided, however, that # all references therein to the Lease Term shall be deemed to refer to the Lease Term, as extended for the New Term, # all references therein to the Expiration Date shall be deemed to refer to the Revised Expiration Date, # all references therein to the Premises shall be deemed to refer to the Original Premises and the Expansion Space, and # Tenant’s Renewal Option Notice shall be delivered, if at all, not earlier than fifteen (15) months nor later than twelve (12) months prior to the expiration of the then-current Lease Term.

Provided that there then exists no Event of Default by Tenant under the Lease nor any event that with the giving of notice and/or the passage of time would constitute an Event of Default, and that Tenant or any Transferee pursuant to a Permitted Transfer is the sole occupant of the 37849147v5

Renewal Option. Tenant's Renewal Option set forth in [Section 4.4] of the Original Lease (as amended by Section 10 of the Second Amendment) shall remain in effect and apply to the entire Premises.

Renewal Option. For clarification purposes, Tenant shall retain its Renewal Option as defined in Paragraph 2.C. of the Addendum to the Original Lease; provided, however such Renewal Option shall apply to the entirety of the Premises, as amended in this Amendment.

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