Pursuant to the existing lease agreement, Auric is entitled to renew this lease for a further term of two years at a rent and service charge to be agreed by the OUE C-REIT (Trustee) and Auric after the expiry of the above term, provided that Auric shall give a written notice of its intention to exercise its option to renew no later than nine months prior to the expiration of the term and subject to the execution of a new lease agreement. The date of the lease agreement was 19 January 2018. The term of the lease was two years commencing from 15 July 2018 and expiring on 14 July 2020. The rental of the lease was SGD 46,894.40 per month (at SGD 11.20 per square foot) plus GST thereon at the prevailing GST rate.