Grant and Term 2.1 In consideration of the payment of the Site Fee, the Owner grants the Principal Occupant a licence to store the Dwelling on the Site subject to the terms of this Agreement.
2.2 This Agreement commences on the Commencement Date and shall continue until the Expiry Date or such earlier date upon which it is terminated in accordance with this Agreement or as specified in the Schedule.
2.3 For the avoidance of doubt, the Owner and the Principal Occupant acknowledge that they each enter into this Agreement based on their common intention that the Site is to be used for storing the Dwelling for the Term and that the use of the Dwelling by the Occupants as permitted by this Agreement shall be for holidaying purposes only and under no circumstances shall any person who has the right to use the Site under this Agreement be or become a resident or a site tenant within the meaning of the Residential Tenancies Act 1997 (Vic).
Acceptance and Term Subject to the terms and conditions set forth in this Agreement, the Company hereby offers, and the Employee hereby accepts, continuing employment on an at-will basis. Subject to earlier termination as hereinafter provided, the Employee’s employment shall continue until terminated pursuant to Section 5 hereof (the “Term”).
Term Renewal and Termination 14.1. This Agreement shall, with respect to the Portfolio, become effective as of the date first above written and shall remain in force for two years thereafter, and for successive annual periods thereafter but only so long as each such continuance is specifically approved at least annually by (1) a majority of the Directors of the Company who are not parties to this Agreement or interested persons of any such parties (other than as Directors of the Company), by vote cast in person at a meeting called for the purpose of voting on such approval; or
Demise and Term Sublessor hereby leases to Subtenant, and Subtenant hereby hires from Sublessor, that certain portion of the second floor of the Demised Premises (herein called the “Subleased Premises”) as more particularly identified on Exhibit A annexed hereto and forming a part hereof) in the building located at 2▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, Purchase, New York (“Building”). The term of this Sublease shall be for a period of two (2) Lease Years (as such term is hereinafter defined), such term commencing on the date that the Sublessor (or its counsel) advises Subtenant (or its counsel) in writing that the Landlord under the Main Lease has consented to this Sublease (herein called the “Commencement Date”), and ending and expiring (the “Expiration Date”) at 11:59 P.M. on the last day of the second Lease Year, unless sooner terminated as herein provided. Subtenant unconditionally acknowledges and agrees that it shall have no option or right to extend or renew the term of the Sublease beyond the Expiration Date of the Sublease, and on such date, or such sooner date if the Sublease shall be sooner terminated in accordance with its terms or at law, Subtenant shall at its sole cost and expense vacate the Subleased Premises and deliver unencumbered, vacant and broom-clean possession of the Subleased Premises to Sublessor, ordinary wear and tear excepted, and shall at its sole cost and expense on or prior to such date remove therefrom any and all of its personal property, trade fixtures and furnishings (other than the Furniture (as defined in Article 35 hereof)) located therein. Possession of the Subleased Premises shall be delivered in broom clean condition by Sublessor to Subtenant on the Commencement Date. The first “Lease Year” of this Sublease shall commence on the Commencement Date of this Sublease and shall end with the expiration of the next succeeding twelve (12) months, plus the number of days, if any, required to have the period end at the expiration of the calendar month, and the second “Lease Year” shall run concurrently with the next succeeding period of twelve (12) calendar months. Subtenant shall, at Sublessor’s option, within fifteen (15) days of written request made by Sublessor to Subtenant, execute the certificate (the “Commencement Date Certificate”) annexed hereto as Exhibit B certifying the Commencement Date and Expiration Date of this Sublease, and such dates shall be deemed conclusive for purposes of this Article and this Sublease. The failure by Subtenant to so execute the Commencement Date Certificate in good faith by the date so specified above shall constitute a default by Subtenant under this Sublease.
Exercisability and Term Each SAR Award Agreement shall specify the date when all or any installment of the SAR is to become exercisable. The SAR Award Agreement shall also specify the term of the SAR. A SAR Award Agreement may provide for accelerated exercisability in the event of the Participant’s death, disability or retirement or other events and may provide for expiration prior to the end of its term in the event of the termination of the Participant’s service. SARs may be awarded in combination with Options, and such an Award may provide that the SARs will not be exercisable unless the related Options are forfeited. A SAR may be included in an ISO only at the time of grant but may be included in an NSO at the time of grant or thereafter. A SAR granted under the Plan may provide that it will be exercisable only in the event of a Change in Control.