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Agreement, either on the date such rights are exercised or on the date any of the Renewal Terms <br />shall commence. <br />The date of the commencement of each of the Renewal Terms shall be as follows: <br />(i) The First Renewal Term shall commence at 12:01 a.m., Eastern Standard <br />Time on January 1, 2026 and shall end at 12:00 midnight, Eastern Standard Time <br />on December 31, 2030; and <br />(ii) The Second Renewal Term shall commence at 12:01 a.m., Eastern <br />Standard Time on January 1, 2031 and shall end at 12:00 midnight, Eastern <br />Standard Time on.December 31, 2035; and <br />(iii) The Third Renewal Term shall commence at 12:01 a.m., Eastern Standard <br />Time on .January 1, 2036 and shall end at 12:00 midnight, Eastern Standard Time <br />on December 31, 2040; and <br />(d) All of the terms and conditions of the Lease shall continue in full force and effect <br />during the Renewal Terms, except that: <br />(i) The number of remaining Renewal Terms permitted shall be reduced by <br />one upon expiration of each Renewal Term for. which SNM has exercised its <br />option; and <br />(ii) The rent during the Renewal Term shall be adjusted as provided in this <br />Lease. <br />��rr r or +n ! 'i+cT + rcn+�!�r� +- ev or-n;— 4' 4�n.. +�. <br />�e) SNM shall deliver ,,J ittt&n uotice w C—A,IJ of A eLWLkV11 v^ AUAO� xw vp-AVAt LW <br />renew the Lease as provided. herein., no less than one hundred eighty (180) days before the <br />Expiration. Date defined above failing which SNM's right to renew for any subsequent Renewal <br />Term shall be null and void. <br />(f) - Termination of the Management Agreement shall also act to terminate the Lease <br />without further notice and shall serve to terminate any corresponding obligations and rights <br />among and between the Parties unless otherwise mutually agreed by the Parties in writing. <br />LEASE&MOWAGW VMNAL 050809 10 <br />