5. Alignment of lease expiration and TTET’s fiscal year end (Extend of 3.5 months) : As you are aware when we discuss about this round renewal that TTET has an issue that their fiscal year and budgeting will be ended on Mar 31st of each year. So, in order to reduce the complication and to eliminate unpredictable rental forecast for the 3.5 months gap between lease expiry on 14th Dec 2018 and 31st Mar 2019. TTET requested if Mercury Tower can consider to give the holdover right (or short term renewal) for 3.5 months during that time with the same rental in Dec 2018. Then at the end of Mar 2019 TTET shall have the right to renew for normal 36 months lease term.
As the time will be an essence. Let’s focus on signing the offer letter first as I think it would be best if both the TTET and landlord can secure the renewal as current lease expiration is only on tomorrow.
I’ll be very happy to discuss over the phone about this.
Thank you krub.