▇▇▇▇▇ Term and Primary Lease Clause Samples
▇▇▇▇▇ Term and Primary Lease
Initial Term and Renewal This Agreement shall become effective upon its execution and, shall have an initial term of five (5) years. Following the expiration of the initial term, the Agreement shall automatically renew for successive one-year terms until such time that the Agreement is terminated by either Party upon giving the other Party six (6) months’ written notice of termination.
Fundamental Lease Provisions The provisions in this Article shall be referred to in this Lease as the "Fundamental Lease Provisions."
Term and Rent Lessor demises the above premises for a term of twenty years, commencing January 1, 1993, and terminating o December 31, 2012, or sooner as provided herein at the annual rent of Twenty Four Thousand Dollars ($24,000.00), payable in equal installments in advance on the first day of each month for that month's rental, during the term of this lease. All rental payments shall be made to Lessor, at the address specified above.
Initial Lease Term The Initial Lease Term is for a minimum of ten (10) years; however, the State will consider a longer lease term if economic benefits are deemed to be in the State’s best interest. Please propose a fixed, or flat, rental rate for a Gross Lease: including all expenses – taxes, insurance, janitorial services, maintenance, etc. The State may elect to pay for utilities separately so please include a cost per square foot to reduce the rental rate if such occurs.
Conditions Term of Agreement 83 3.1. Conditions Precedent to the Initial Extension of Credit. .................................83 3.2. Conditions Precedent to all Extensions of Credit. ............................................83 3.3. Maturity................................................................................................................83 3.4. Effect of Maturity. ...............................................................................................83 3.5. Early Termination by Borrowers.......................................................................83 3.6. Conditions Subsequent. .......................................................................................84