Lease renewal clause samples

6. The performance security is revised as Ұ267,252 Yuan. Given that an amount of Ұ263,952 Yuan has been paid as the performance security under the Original Contract, the remaining performance security in the amount of Ұ3,300 Yuan shall be paid (within 7 days upon the effectiveness hereof) for this lease renewal. Any return of the performance security if required upon the expiry of the lease term shall be governed by relevant provisions of the Original Contract.

The Company notes the Staff’s comment and respectfully advises the Staff that all of the Company’s acquired businesses since the Company’s inception have included existing lease agreements of such acquired businesses, and as a result, the Company did not have to pay for leasing costs and tenant improvements typically associated with the purchase of vacant properties. Since the Company’s inception, excluding avoided leasing costs and tenant improvements recognized in connection with the purchase price allocations for acquired businesses, the Company has not paid leasing commissions or tenant improvements in connection with any new lease procurement or lease renewal because all of its original lessees continue to occupy the Company’s properties under the original acquired lease agreements. The Company paid $138,587 for improvements made on its rental properties not related to lease procurement or lease renewal. The Company considers such amount nominal to its total assets. As such, the Company has not provided for additional disclosures on this matter in its financial statements.