Third Extension Term Sample Clauses

Third Extension Term. The Term of the Lease is hereby extended for twelve (12) months and, therefore, the “Term Expiration Date” is hereby amended to mean January 19, 2014. 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.
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Third Extension Term. The annual ground rental shall be increased by Five percent (5%) of the Second Extension Term annual ground rental.
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Third Extension Term. The Lease of all the Premises may be extended for another five-year period (the “Third Extension Term”) by unconditional written notice from Tenant to Landlord at least twelve (12) (but not more than eighteen (18)) months before the end of the Second Extension Term (if any). If Tenant does not timely exercise this third extension option, or if on the date of such notice or at the beginning of the Third Extension Term an Event of Default exists, Tenant’s right to extend shall irrevocably lapse, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Second Extension Term. All references to the Term shall mean the Initial Term as it may be extended by the First Extension Term, the Second Extension Term and the Third Extension Term, if any (each, an “Extension Term”). Each Extension Term shall be on all the same terms and conditions applied to the Initial Term except that the Base Rent for each Extension Term shall be as set forth below.
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Third Extension Term. Provided that (i) at all times during the Initial Term and the First and Second Extension Terms, Borrower has fully complied with the payment terms of the Note and has not been delinquent with respect to such payment terms, (ii) as of the last day of the Second Extension Term, there exists no Event of Default with respect to any other (including non-monetary) terms and conditions contained in the Note or the other Loan Documents, and (iii) no material adverse change has occurred in the market value of the Property, the Maturity Date shall, at the end of the Second Extension Term, be extended for an additional period of one (1) year (the “Third Extension Term”). Borrower shall not be obligated to pay an extension fee with respect to the Third Extension Term; provided, however, that Borrower shall pay to Lender a processing fee in the amount of $1,500, any reasonable legal fees incurred by Lender in connection with such extension, and the cost of the premium applicable to a title policy endorsement if Lender shall elect to obtain the same in connection with such extension.
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Third Extension Term. The Term of Existing Lease shall be extended for the period commencing January 1, 2025 (“Extension Date”) and ending December 31, 2026 (the “Extended Expiration Date”), unless sooner terminated in accordance with the terms of the Lease. That portion of the term of the Lease commencing on the Extension Date and ending on the Extended Expiration Date shall be referred to herein as the “Third Extension Term.” The Third Extension Term shall be upon all the agreements, terms, covenants and conditions of the Existing Lease binding upon Landlord and Tenant except as the same are expressly modified in this Amendment. Landlord shall have no obligation to perform any work or make any contribution to work performed to prepare the Premises for Tenant’s use during the Third Extension Term. The Third Extension Term shall be added to and become part of the Term, and any reference contained in the Lease to "this Lease," to the "Term," the "term of this Lease" or any similar expression shall be deemed to include the Third Extension Term. Tenant shall pay Base Rent during the Third Extension Term as follows: 1/1/2026 – 12/31/2026 $420,787.62 $35,065.63
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Third Extension Term. Company hereby agrees to retain the Consultant as an independent contractor to act in a consulting capacity to Company upon the terms and conditions hereinafter set forth, and Consultant hereby agrees to provide such services to Company commencing on the Effective Date and ending on September 30, 2021 (the “Third Extension Term”), unless earlier terminated pursuant to Section 13 of this Third Extension.
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Third Extension Term 
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Related to Third Extension Term

  • Extension Term The Term of this Lease of all of the Premises may be extended for the Extension Term by unconditional written notice from Tenant to Landlord at least twelve (12) (but not more than fifteen (15)) months before the end of the Initial Term, time being of the essence. If Tenant does not timely exercise this option, or if on the date of such notice or at the beginning of the Extension Term (i) an Event of Default by Tenant exists, or (ii) Tenant is not leasing sixty percent (60%) or more of the Premises, or (iii) Tenant has made any Transfer under Article 13 (other than a Related Party Transfer), at Landlord’s option upon written notice to Tenant, Tenant’s right to extend the Term of this Lease shall irrevocably lapse and be void and of no further force and effect, Tenant shall have no further right to extend, and this Lease shall expire at the end of the Initial Term. If Tenant fails to timely exercise its rights hereunder, then within seven (7) days of Landlord’s request therefor, Tenant shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant’s failure to exercise (or waiver of) such right, and Tenant’s failure to so execute and deliver such certification shall (without limiting Landlord’s remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the failure or waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. All references to the Term shall mean the Initial Term as it may be extended by the Extension Term. The Extension Term shall be on all the same terms and conditions except that the Base Rent for the Extension Term shall be as set forth below.

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

  • Renewal, Extension The renewal or extension of any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

  • Extension Option Subtenant shall have the right (the “Extension Right”) to extend the Term of this Sublease for a single additional period of three (3) months (the “Sublease Extension Term”) on the same terms and conditions as this Sublease (other than Base Rent) by giving Sublandlord written notice of its election to exercise the Extension Right at least eight (8) months prior to the Expiration Date of the initial Term, which notice, once given, shall be irrevocable. If Subtenant timely elects to exercise such right to the Sublease Extension Term, the Sublease Extension Term shall commence on the day immediately following the initial Expiration Date. During the Sublease Extension Term, Base Rent for each portion of the Subleased Premises shall be payable at a rate equal to 103% of the rate in effect with respect to such portion of the Subleased Premised on the initial Expiration Date. The Extension Right is personal to Subtenant and shall not be assignable without Sublandlord’s and Prime Lessor’s consent in their respective sole discretion, except that it may (subject to obtaining the consent of Prime Lessor to the extent required under Section 22 of the Prime Lease) be assigned in connection with a Corporate Permitted Assignment of this Sublease. Notwithstanding the foregoing, Subtenant may not exercise the Extension Right (i) during any period of time that Subtenant is in default under any provision of this Sublease, (ii) if Subtenant has been in default under any provision of this Sublease two (2) or more times, whether or not the defaults are cured, during the last year of the initial Term of this Sublease, or (iii) if Subtenant is not in occupancy of at least eighty percent (80%) of the entire Subleased Premises both at the time of the exercise of the Extension Right and at the time of the commencement date of the Sublease Extension Term. The Extension Right shall terminate and be of no further force or effect even after Subtenant’s due and timely exercise of the Extension Right, if after such exercise, but prior to the commencement date of the Sublease Extension Term, (i) Subtenant fails to timely cure any default by Subtenant under this Sublease, or (ii) Subtenant has defaulted two (2) or more times during the period from the date of the exercise of the Extension Right to the date of the commencement of the Sublease Extension Term, whether or not such defaults are cured.