Common use of TIME IS OF THE ESSENCE OF THIS LEASE Clause in Contracts

TIME IS OF THE ESSENCE OF THIS LEASE. If the time period by which any right, option or election provided under this Lease must be exercised, or by which any act required hereunder must be performed, expires on a Saturday, Sunday or any Holidays, then such time period will be automatically extended through the close of business on the next regularly scheduled Business Day.

TIME IS OF THE ESSENCE OF THIS LEASE. If the time period by which any right, option or election provided under this Lease must be exercised, or by which any act required hereunder must be performed, expires on a Saturday, Sunday or any Holidayslegal or bank holiday in the state where the Premises are located, then such time period will be automatically extended through the close of business on the next regularly scheduled Business Daybusiness day in such state.