Common use of Exercise of Extension Option Clause in Contracts

Exercise of Extension Option. Tenant shall have two (2) successive options (each, an “Extension Option”) to extend the Term of this Lease for a period of five (5) years each (each, an “Extension Period”), on the same terms and conditions in effect under this Lease immediately prior to the Extension Period, except that Base Rent shall be determined as set forth below and Tenant shall have no further right to extend the Term of this Lease after the end of the second (2nd) Extension Period; provided, however, it shall be a condition of Tenant’s exercise of the Extension Option that Tenant also exercise the corresponding “Extension Option” as defined in the Companion Lease. If Tenant exercises an Extension Option, such extension shall apply to the entire Premises. Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice”) on or before the date which is twelve (12) months prior to the commencement date of each applicable Extension Period and such Extension Period shall commence on the day immediately succeeding the expiration date of the preceding Term or the preceding Extension Period, as the case may be, and shall end at midnight Eastern Time on the last day of the applicable Extension Period. Such exercise shall, at Landlord’s election, be null and void if any Event of Default shall have occurred and is continuing at the date of such notice. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 1.4, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, then immediately upon such termination the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 1.4.

Exercise of Extension Option. The Extension Option shall be exercised by Tenant, if at all, only in the following manner: (i) Tenant shall have two deliver written notice (2) successive options (each, an the “Extension OptionInterest Notice”) to extend the Term of this Lease for a period of five Landlord not more than fifteen (515) years each (each, an “Extension Period”), on the same terms and conditions in effect under this Lease immediately prior to the Extension Period, except that Base Rent shall be determined as set forth below and Tenant shall have no further right to extend the Term of this Lease after the end of the second (2nd) Extension Period; provided, however, it shall be a condition of Tenant’s exercise of the Extension Option that Tenant also exercise the corresponding “Extension Option” as defined in the Companion Lease. If Tenant exercises an Extension Option, such extension shall apply to the entire Premises. Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice”) on or before the date which is months nor less than twelve (12) months prior to the commencement date expiration of each applicable the initial Lease Term stating that Tenant may be interested in exercising the Extension Period and such Extension Period Option; (ii) Landlord, after receipt of Tenant’s Interest Notice, shall commence on deliver notice (the day immediately succeeding “Option Rent Notice”) to Tenant not less than eleven (11) months prior to the expiration date of the preceding initial Lease Term or setting forth the preceding Extension Period, as the case may be, Option Rent; and shall end at midnight Eastern Time on the last day of the applicable Extension Period. Such exercise shall, at Landlord’s election, be null and void (iii) if any Event of Default shall have occurred and is continuing at the date of such notice. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound wishes to lease the Premises for the Extension Period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 1.4, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, then immediately upon such termination Tenant shall, on or before the date (the “Exercise Date”) which is ten (10) months prior to the expiration of the initial Lease Term, exercise the Extension Option by delivering written notice (the “Exercise Notice”) thereof to Landlord. If Landlord determines in the Option Rent Notice that the Option Rent for the Option Term shall simultaneously terminate and become null and void. Time is equal the Fair Market Rental Rate pursuant to Section 2(ii) above, then concurrently with Tenant’s delivery of the essence with regard Exercise Notice, Tenant may, at its option, in a written notice delivered to this Landlord (the “Objection Notice”), object to Landlord’s determination of the Fair Market Rental Rate for the Option Term set forth in the Option Rent Notice, in which event such Fair Market Rental Rate shall be determined pursuant to Section 1.44 below. If Tenant timely delivers the Exercise Notice but fails to timely deliver the Objection Notice to Landlord, Tenant shall be deemed to have accepted Landlord’s determination thereof and the following provisions of Section 4 shall not apply. Tenant’s failure to deliver the Interest Notice or Exercise Notice on or before the applicable delivery dates therefor specified hereinabove, shall be deemed to constitute Tenant’s waiver of the Extension Option. If Landlord determines in the Option Rent Notice that the Option Rent for the Option Term shall equal the Floor Rent pursuant to Section 2(i) above, such determination shall be final and conclusive, and the following provisions of Section 4 below shall not apply.

Exercise of Extension Option. The Extension Option shall be exercised by Tenant, if at all, only in the following manner: (i) Tenant shall have two deliver written notice to Landlord not more than eighteen (218) successive options months nor less than fifteen (each, an “Extension Option”15) to extend the Term of this Lease for a period of five (5) years each (each, an “Extension Period”), on the same terms and conditions in effect under this Lease immediately months prior to the Extension Period, except that Base Rent shall be determined as set forth below and Tenant shall have no further right to extend the Term of this Lease after the end then-scheduled expiration of the second Lease Term, stating that Tenant may be interested in exercising the applicable Extension Option (2nd"Tenant's Interest Notice"); (ii) Extension Period; providedLandlord, however, it shall be a condition after receipt of Tenant’s exercise 's Interest Notice shall deliver notice (the "Option Rent Notice") to Tenant not less than fourteen (14) months prior to the expiration of the Extension then scheduled EXHIBIT F -3- [Reddit, Inc.]303 SECOND STREETSouth Tower expiration of the Lease Term setting forth Landlord's good faith determination of the Option that Rent ("Landlord's Option Rent Calculation"); and (iii) if Tenant also wishes to exercise the corresponding “Extension Option” as defined in the Companion Lease. If Tenant exercises an Extension Option, such extension shall apply to whether or not Tenant has delivered the entire Premises. Tenant’s Interest Notice, Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice”) shall, on or before the date which is twelve occurring thirteen (1213) months prior to the commencement date of each applicable Extension Period and such Extension Period shall commence on the day immediately succeeding the expiration date of the preceding initial Lease Term or exercise the preceding Extension Periodoption by delivering written notice thereof to Landlord (the "Option Exercise Notice"). Upon, and concurrent with, such exercise, Tenant may, at its option, object to the Option Rent contained in the Option Rent Notice, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as the case may be, and shall end at midnight Eastern Time on the last day of the applicable Extension Period. Such exercise shall, at Landlord’s election, be null and void if any Event of Default shall have occurred and is continuing at the date of such notice. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Periodset forth in Section 2.2.4 below. If Tenant does not timely deliver the Tenant's Interest Notice, the parties shall fail to timely exercise follow the Extension Option in accordance with the provisions of this Section 1.4, then the Extension Option shall terminateprocedure, and the Option Rent shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate determined, as set forth in any manner whatsoever before Tenant shall exercise the Extension OptionSection 4, then immediately upon such termination the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 1.4below.

Exercise of Extension Option. Tenant shall have two (2) successive options (each, an “Extension Option”) to extend the Term must notify Landlord in writing of this Lease for a period of five (5) years each (each, an “Extension Period”), on the same terms and conditions in effect under this Lease immediately prior to the Extension Period, except that Base Rent shall be determined as set forth below and Tenant shall have no further right to extend the Term of this Lease after the end of the second (2nd) Extension Period; provided, however, it shall be a condition of Tenant’s its exercise of the any Extension Option that Tenant also exercise the corresponding “Extension Option” as defined in the Companion Lease. If Tenant exercises an Extension Option, such extension shall apply to the entire Premises. Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice”) ), and such Extension Notice must be given by Tenant to Landlord on or before the date which that is twelve six (126) months prior to the commencement date of each applicable Extension Period and such Extension Period shall commence on the day immediately succeeding the expiration date of the preceding Initial Term or the preceding Extension Periodthen current Option Term, as the case may be. Notwithstanding the foregoing, and Tenant shall end at midnight Eastern Time on not have the last day of the applicable right to exercise an Extension Period. Such exercise shall, at Landlord’s election, be null and void Option if any an Event of Default shall have occurred and is continuing at the date of such noticethen exists against Tenant. Upon delivery If Tenant elects to exercise an Extension Option with respect to only a portion of the Extension NoticePremises initially demised hereunder, Tenant shall be irrevocably bound to lease specify in its Election Notice the portion of the Premises as to which Tenant’s election applies; and in such case, upon the commencement of the Option Term in question, the term “Premises” as used herein shall mean that portion of the Premises specified in Tenant’s Extension Notice. In the event Tenant elects to exercise an Extension Option with respect to only a portion of the Premises initially demised hereunder, then the portion Tenant desires to occupy for the Extension PeriodOption Term, if less than an entire floor, shall be as to each partial floor subject to the reasonable consent of Landlord. If In such event, Landlord’s consent may be withheld only if the portion of the Premises sought to be extended will unnecessarily and unreasonably interfere with Landlord’s ability to relet the portion of the Premises that is not extended and does not constitute an area that is required by Tenant by virtue of the location of permanent improvements to the Building. Landlord shall fail be responsible for all costs incurred to timely demise portions of the Premises retained by Tenant from the remainder of the Building. In the event Tenant elects to exercise the an Extension Option in accordance with respect to only a portion of the Premises initially demised hereunder, the parties shall enter into an amendment of this Lease that modifies the provisions of this Section 1.4, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession premised upon single use of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, then immediately upon such termination the Extension Option shall simultaneously terminate and become null and void. Time is Building to reflect a multi-tenant use of the essence with regard to this Section 1.4Building.