The “ Term ” of this Master Lease is the Initial Term plus all Renewal Terms, to the extent exercised. The initial term of this Master Lease (the “ Initial Term ”) shall commence on the date hereof (the “ Commencement Date ”) and end on the last day of the calendar month in which the fifteenth (15 th ) anniversary of the Commencement Date occurs, subject to renewal as set forth in Section 1.4 below.