This office lease clause provides the tenant with two consecutive renewal options each consisting of five years, under the same terms and conditions as those set forth in the lease for the initial term, except that Base Rent for the renewal terms differ.
The New Hampshire Renewal Option Provision is a key clause within insurance policies that allows policyholders in the state of New Hampshire to renew their policies beyond the original term. This provision ensures that individuals have the option to continue their coverage without being denied due to any changes in their health status, age, or other factors that may arise during the term of the policy. In New Hampshire, there are several types of renewal option provisions that individuals can explore based on their specific insurance needs: 1. Guaranteed Renewable Provision: This type of provision guarantees policyholders the right to renew their policies as long as they continue to pay their premiums on time. The insurer cannot cancel or deny renewal due to changes in health or other factors. 2. Non-Cancelable Provision: With a non-cancelable renewal option provision, policyholders have the right to renew their policies at the same terms and conditions initially agreed upon. The insurer cannot increase premiums or change the policy terms as long as the policyholder meets the payment obligations. 3. Conditionally Renewable Provision: Under this provision, policyholders have the right to renew their policies as long as they meet specific conditions outlined in the contract. For example, they may need to provide proof of insurability or satisfy other criteria set by the insurer. 4. Optionally Renewable Provision: Policyholders who opt for this provision are given the choice to renew their policies or not at the end of the term. The insurer typically has the right to refuse renewal, but they must notify the policyholder in advance. 5. Deferment Provision: Some policies may include a deferment provision where the policyholder can choose to defer the renewal of their policy for a certain period. This allows individuals to delay the renewal without losing the ability to continue coverage at a later date. It's important for individuals in New Hampshire to carefully review the terms and conditions of their insurance policies to understand the specific type of renewal option provision available to them. This provision ensures that policyholders can maintain continuous coverage, providing them with peace of mind and financial security.
