Contracts
A Mississippi commercial lease grants the tenant a 'right of renewal.' This means the tenant may:
ATerminate the lease at any time without penalty
BExtend the lease for an additional term at predetermined or negotiated terms✓ Correct
CSublease the property without landlord approval
DPurchase the property at a fixed price
Explanation
A right of renewal (or option to renew) allows the tenant to extend the lease for one or more additional terms, typically at a specified rent or based on a negotiated rate. It must be exercised within the time frame specified in the lease.
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