Common use of Extended Term Clause in Contracts

Extended Term. Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

Extended Term. Provided that no Event of Default shall have occurred and be continuing hereunder or under any Other Leases, the Term of this Agreement and the term of the Other Leases Tenant shall have the option to extend the Term for two (2a) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before renewal option for a first renewal term of ten (10) years (the expiration of the Term or "First Extended Term"), as the case which Tenant may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of exercise at Tenant's failure to deliver the Option Noticeoption upon at least eighteen (18) months Notice for all, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at not less than all, to Landlord. In of the event Collective Leased Properties, and (and only in b) a second renewal option (conditional on exercise of the eventfirst renewal option) that, Tenant fails to deliver for an Option Notice to Landlord within such thirty additional ten (3010) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to years (the "Second Extended Term" shall include ") which Tenant may exercise at Tenant's option upon at least eighteen (18) months Notice for all, and not less than all, of the initial Term of fifteen (15) years and shall, in addition, include the Collective Leased Properties. The First Extended Term and the Second Extended Term, if exercised are collectively referred to as the "Extended Terms." Unless Tenant gives Manager written notice of Tenant's decision not to exercise an Extended Term on or before the date which is eighteen (18) months prior to the date of the expiration of the Fixed Term or the First Extended Term (as the case may be), Tenant shall be deemed to have exercised the First Extended Term or the Second Extended Term, as applicable, subject to the conditions set forth in the first paragraph of this Section 2.4 above. Each Extended Term shall commence on the day succeeding the expiration of the Fixed Term or the preceding Extended Term, as the case may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant shall have no right to extend the Term beyond the expiration of the Second Extended Term. Otherwise, the extension of this Agreement shall be effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the foregoing, if Tenant elects not to renew the leases for the Collective Leased Properties prior to the end of the Fixed Term or the First Extended Term as aforesaid, Landlord or an Affiliated Person of Landlord will have the right to be substituted for Tenant as tenant under all of the leases for the Collective Leased Properties and to exercise the First Extended Term or the Second Extended Term, as the case may be, by providing Notice to Tenant, with a courtesy copy to Manager, of its election to do so at least sixteen (16) months prior to the end of the Fixed Term or the First Extended Term, as applicable. If Tenant elects not to renew the leases for the Collective Leased Properties as aforesaid, and Landlord or an Affiliated Person of Landlord does not elect to be substituted for Tenant as tenant under the Leases and to exercise the First Extended Term or the Second Extended Term, as the case may be, for all of the Collective Leased Properties, and provided no default exists under this Agreement or any of the Other Leases beyond any applicable cure period, Marriott will have the right and option to find a replacement tenant or to have itself (or an Affiliated Person of Marriott) substituted for Tenant as tenant under the leases and to exercise by providing Notice to Landlord at least twelve (12) months prior to the end of Fixed Term or the First Extended Term, as appropriate. Such replacement tenant shall be subject to Landlord's reasonable approval, unless such replacement tenant is an Affiliated Person of Marriott, in which case Landlord's approval shall not be required. Any replacement tenant shall as a condition of such replacement enter into the Leases, Management Agreements, Franchise Agreements, the Pooling Agreement and such other agreements referred to herein or contemplated by the Purchase Agreement with respect to all of the Collective Leased Properties on terms or conditions substantially the same as were in effect with and for Tenant immediately prior to such substitution.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement and the term of the Other Leases and the Little Xxxx Xxxxx Leases shall be automatically extended for a first renewal term of ten (10) years (the "First Extended Term"), unless Tenant shall have give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) years prior to the option scheduled expiration of the Fixed Term of this Agreement, that Tenant elects not so to extend the Term of this Agreement or that Tenant elects not to so extend the term of any of the Other Leases or Little Xxxx Xxxxx Leases (and time shall be of the essence with respect to the giving of such Notice) in which case the Term of this Lease and the term of the Other Leases and the Little Xxxx Xxxxx Leases will expire at the end of the then current Term. Further, provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement and the term of the Other Leases and the Little Xxxx Xxxxx Leases shall be automatically further extended for a second renewal term of ten (10) years (the "Second Extended Term"), unless Tenant shall give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement scheduled expiration of the First Extended Term the only remaining option Term, that Tenant elects not to so further extend the Term of this Agreement or that Tenant elects not to so extend the term of any of the Other Leases or the Little Xxxx Xxxxx Leases (and time shall be of the essence with respect to the giving of such Notice). The First Extended Term and the Second Extended Term and upon exercise of are collectively referred to as the option with respect to the Second "Extended Term, no further right to extend the Terms." Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm or the term of any of the Other Leases or the Little Xxxx Xxxxx Leases in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, this Agreement shall be in full force and effect, the Term shall be automatically extended for four (4) consecutive renewal terms of twelve (12) years each (collectively, the "Extended Terms"), unless Tenant shall have the option to extend the Term for give Landlord Notice, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the Base Rent on an annual basis as provided in Section 3.3 below (provided only case may be), that upon commencement of the First Extended Term the only remaining option Tenant elects not so to extend the Term term of this Agreement (and time shall be the Second Extended Term and upon exercise of the option essence with respect to the Second giving of such Notice). Each Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that no Event of Default shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" occurred and "SECOND EXTENDED TERM"be continuing, respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be automatically extended for three (3) consecutive renewal terms of fifteen (15) years each (collectively, the Second "Extended Term and upon exercise Terms"), unless Tenant shall give Landlord Notice, not later than eighteen (18) months prior to the scheduled expiration of the option with respect to then current Term of this Agreement (Fixed or Extended, as the Second Extended Termcase may be), no further right that Tenant elects not so to extend the term of this Agreement. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord shall deliver written notice to may terminate this Agreement at any time during the remainder of the then current Term of this Agreement (Fixed or Extended, as the case may be), by giving Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt Notice of such notice within which Landlord's election to deliver so terminate. If Landlord does not so terminate and Tenant has given Notice that it elects not to extend the Option NoticeTerm in accordance with this Section 2.4, if then this Agreement shall automatically terminate at all, to Landlord. In the event (end of the Term then in effect and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that no Event of Default shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" occurred and "SECOND EXTENDED TERM"be continuing, respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be automatically extended for three (3) consecutive renewal terms of fifteen (15) years each (collectively, the Second "Extended Term and upon exercise Terms"), unless Tenant shall give Landlord Notice, not later than eighteen (18) months prior to the scheduled expiration of the option with respect to then current Term of this Agreement (Fixed or Extended, as the Second Extended Termcase may be), no further right that Tenant elects not so to extend the term of this Agreement. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that no Event of Default shall have occurred and be continuing and the option to extend term of all of the Other Leases shall be simultaneously extended, the Term shall be automatically extended for two (2) consecutive five renewal terms, the first such renewal term to be for a period of twelve (512) year periods years and the second such renewal term to be for a period of ten (10) years (collectively, the "FIRST EXTENDED TERM" Extended Terms"), unless Tenant shall give Landlord Notice, in Tenant's sole and "SECOND EXTENDED TERM"absolute discretion, respectivelynot later than two (2) on all years prior to the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement (and time shall be of the Base Rent on an annual basis as provided in Section 3.3 below (provided only essence with respect to the giving of such Notice). It is expressly understood and agreed that upon commencement such Notice from Tenant shall be void and of the First Extended Term the only remaining option to extend no effect and the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement and the term of the Other Leases and the Non-LLB Leases shall be automatically extended for a first renewal term of ten (10) years (the "First Extended Term"), unless (a) Tenant shall have give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) years prior to the option scheduled expiration of the Fixed Term of this Agreement that Tenant elects not so to extend the Term of this Agreement and the term of the Other Leases (and time shall be of the essence with respect to the giving of such Notice), or (b) the tenant under the Non-LLB Leases elects not to extend the Non-LLB Leases in accordance with the terms thereof, in either such event the Term of this Agreement and the term of the Other Leases and the Non-LLB Leases will expire at the end of the then current Term. Further, provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement and the term of the Other Leases and the Non-LLB Leases shall be automatically further extended for a second renewal term of ten (10) years (the "Second Extended Term"), unless (a) Tenant shall give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement scheduled expiration of the First Extended Term the only remaining option that Tenant elects not to so extend the Term of this Agreement and the term of the Other Leases (and time shall be of the essence with respect to the giving of such Notice), or (b) the tenant under the Non-LLB Leases elects not to further extend the term of the Non-LLB Leases in accordance with the terms thereof. The First Extended Term and the Second Extended Term and upon exercise of are collectively referred to as the option with respect to the Second "Extended Term, no further right to extend the Terms." Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If (a) Tenant shall give Notice within that it elects not to extend the time allowedTerm and the term of any of the Other Leases, Landlord in accordance with this Section 2.4, or (b) the tenant under the Non-LLB Leases elects not to extend the term of the Non-LLB Leases in accordance with the terms thereof, this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Provided that no Event of Default shall have occurred and be continuing and this Agreement shall be in full force and effect, Tenant shall have the option right to extend the Term for two (2) consecutive twenty-five (525) year periods renewal terms (collectively, the "FIRST EXTENDED TERM" and Extended Terms"SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First ). Each Extended Term shall commence on the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall elect to exercise either of the aforesaid options, it shall do so by giving Landlord Notice within thereof not later than two (2) years prior to the scheduled expiration of the then current Term of this Agreement (Fixed or Extended, as the case may be), it being understood and agreed that time allowed, Landlord shall deliver written notice be of the essence with respect to the giving of such Notice. Tenant of Tenant's failure may not exercise its option for more than one such Extended Term at a time. If Tenant shall fail to deliver the Option give any such Notice, this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafter, Agreement. If Tenant shall have no further right to extend give such Notice, the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that no Event of Default shall have the option to extend exist hereunder, the Term of this Agreement shall be automatically extended for two (2) consecutive a first renewal term of five (5) year periods years (the "FIRST EXTENDED TERM" First Extended Term") unless Tenant shall give Landlord Notice, in Tenant's sole and "SECOND EXTENDED TERM"absolute discretion, respectivelynot later than eighteen (18) on all months prior to the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment Initial Term, that Tenant elects not to so extend the Term of this Agreement. Further, provided that no Event of Default shall exist, the Base Rent on an annual basis as provided Term of this Agreement shall be automatically further extended for a second renewal term of five (5) years (the "Second Extended Term") unless Tenant shall give Landlord Notice, in Section 3.3 below the Tenant's sole and absolute discretion, not later than eighteen (provided only that upon commencement 18) months prior to the scheduled expiration of the First Extended Term the only remaining option Term, that Tenant elects not to extend so further extent the Term of this Agreement. Further, provided that no Event of Default shall exist, the Term of this Agreement shall be automatically further extended for a third renewal term of five (5) years (the Second "Third Extended Term Term") unless Tenant shall give Landlord Notice, in the Tenant's sole and upon exercise absolute discretion, not later than eighteen (18) months prior to the scheduled expiration of the option with respect to the Second Extended Term, no that Tenant elects not to so further right to extend the Term of this Agreement. Time shall existbe of the essence with respect to the giving of the Notices contemplated in this Section 2.4. (The First Extended Term, the Second Extended Term, and the Third Extended Term are collectively referred to as the "Extended Terms"). Tenant Each Extended Term shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Initial Term or First the preceding Extended Term, as the case may be. In All of the event Tenant fails to deliver the applicable Option Notice within the time allowedterms, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, covenants and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term provisions of this Lease and thereafter, Agreement shall apply to each such Extended Term except that Tenant shall have no further right to extend the Term beyond the expiration of the Extended Terms. In addition, notwithstanding anything in this Agreement to the contrary, the Initial Term hereof and each Extended Term hereof may only be extended if the initial term and each applicable extended term of the Other Leases is also extended, it being the express understanding and agreement of the Landlord and Tenant that the Term of this Lease. References in this Lease to Agreement and the "Term" term of each of the Other Leases shall include run concurrently and that if the initial term of any of the Other Leases, or the Term of fifteen (15) years and shall, in addition, include this Agreement is not extended then neither this Agreement nor the First Extended Term and the Second Other Leases shall be extended for any applicable Extended Term. Otherwise the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, if applicablehowever, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Term. Tenant Provided that no Default or Event of Default shall have occurred and be continuing and this Agreement shall be in full force and effect, Tenant shall, subject to Section 2.5 below, have the option right to extend the Term for two each of four (24) consecutive five (5) year periods 5)-year renewal terms (collectively, the "FIRST EXTENDED TERM" TERMS") for all, and "SECOND EXTENDED TERM"not less than all, respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Collective Leased Properties. Each Extended Term shall commence on the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement (including but not limited to those with respect to Additional Rent and payments of the Allowance) shall apply to each such Extended Term, except that (x) the Minimum Rent for each Extended Term shall be the Fair Market Rental for such Extended Term and shall be determined pursuant to Section 2.5 below and (y) Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall elect to exercise any of the aforesaid options, it shall do so by giving Landlord Notice within thereof not later than one (1) year prior to the scheduled expiration of the then current Term of this Agreement (Fixed Term or Extended Term, as the case may be), it being understood and agreed that time allowed, Landlord shall deliver written notice be of the essence with respect to the giving of such Notice. Tenant of Tenant's failure may not exercise its option for more than one such Extended Term at a time. If Tenant shall fail to deliver the Option give any such Notice, this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents, it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur and be continuing, unless Landlord shall otherwise consent in writing, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall have no further right option to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableAgreement.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, and that the Lease shall be in full force and effect, Tenant shall have the option right to extend the Term for two one extended term of ten (210) consecutive five (5) year periods years (the "FIRST EXTENDED TERM" and Extended Term"SECOND EXTENDED TERM"); provided, respectivelyhowever, that Tenant shall exercise such right no later than ten (10) on all months prior to the terms and conditions contained in this Lease including, without limitation, continuation end of the adjustment then current term (i.e. Tenant must give notice of exercise on or before November 30, 2011). The Extended Term shall commence on the day succeeding the expiration of the Base Initial Term (the "Extended Term Commencement Date"), and shall expire on the day prior to the tenth (10th) anniversary of such Extended Term Commencement Date. During the Extended Term the Minimum Rent on an annual basis shall continue to increase as provided in Section 3.3 below (provided only that upon commencement 3.1 herein. All of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term other terms, conditions, covenants and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term provisions of this Lease Document shall apply for such Extended Term. If Tenant shall fail to give any such notice, this Lease shall automatically terminate at the end of the then current Term, and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this If Tenant shall give such notice, the extension of the Lease shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same"Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

Extended Term. Tenant Provided that no Default or Event of Default shall have occurred and be continuing and this Agreement shall be in full force and effect, Tenant shall, subject to Section 2.5 below, have the option right to extend the Term for two each of four (24) consecutive five (5) year periods 5)-year renewal terms (collectively, the "FIRST EXTENDED TERM" Extended Terms") for all, and "SECOND EXTENDED TERM"not less than all, respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Collective Leased Properties. Each Extended Term shall commence on the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement (including but not limited to those with respect to Additional Rent and payments of the Allowance) shall apply to each such Extended Term, except that (x) the Minimum Rent for each Extended Term shall be the Fair Market Rental for such Extended Term and shall be determined pursuant to Section 2.5 below and (y) Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall elect to exercise any of the aforesaid options, it shall do so by giving Landlord Notice within thereof not later than one (1) year prior to the scheduled expiration of the then current Term of this Agreement (Fixed Term or Extended Term, as the case may be), it being understood and agreed that time allowed, Landlord shall deliver written notice be of the essence with respect to the giving of such Notice. Tenant of Tenant's failure may not exercise its option for more than one such Extended Term at a time. If Tenant shall fail to deliver the Option give any such Notice, this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents, it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur and be continuing, unless Landlord shall otherwise consent in writing, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Term then in effect and Tenant shall have no further right option to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableAgreement.

Extended Term. Provided that, at the time of such exercise, (i) this Lease is in full force and effect, and (ii) no Event of Default shall have occurred and be continuing (either at the time of exercise or at the commencement of the Extended Term), and (iii) Tenant and/or its Permitted Transferees shall be in occupancy of the Premises and shall not have assigned this Lease or sublet more than twenty-five percent (25%) of the Premises (except in connection with a Permitted Transfer) (any of which conditions described in clauses (i), (ii), and (iii) may be waived by Landlord at any time in Landlord’s sole discretion), Tenant shall have the right and option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease for two extended terms (each an “Extended Term”) of five (5) years each by giving written notice (in each case, an “Extension Notice”) to Landlord not later than twelve (12) months and thereafternot sooner fifteen (15) months than prior to the expiration date of the Term then in effect. The effective giving of such notice of extension by Tenant shall automatically extend the Term of this Lease for the applicable Extended Term, and no instrument of renewal or extension need be executed. In the event that Tenant fails timely to give such notice to Landlord, this Lease shall automatically terminate at the end of the then current Term and Tenant shall have no further right option to extend the Term of this Lease. References in Each Extended Term shall commence on the day immediately succeeding the expiration date of the current Term and shall end on the day immediately preceding the fifth (5th) anniversary of the first day of the applicable Extended Term. Each Extended Term shall be on all the terms and conditions of this Lease Lease, except: (x) during the second Extended Term, Tenant shall have no further option to extend the "Term" , (y) the Basic Rent for each Extended Term shall include be the initial Term Fair Market Rental Value of fifteen the Premises as of the commencement of the Extended Term, taking into account all relevant factors, determined pursuant to Section 16.2 below, and (15z) years and shall, in addition, include Landlord shall not be required to furnish any materials or perform any work to prepare the First Premises for Tenant’s occupancy during either Extended Term and the Second Extended TermLandlord shall not be required to provide any work allowance or reimburse Tenant for any alterations made or to be made by Tenant, if applicableor to grant Tenant any rent concession.

Extended Term. Tenant Provided that no Event of Default shall have occurred and be continuing and the option to extend term of all of the Other Leases shall be simultaneously extended, the Term shall be automatically extended for two (2) consecutive five renewal terms of ten (510) year periods years each (collectively, the "FIRST EXTENDED TERM" Extended Terms"), unless Tenant shall give Landlord Notice, in Tenant's sole and "SECOND EXTENDED TERM"absolute discretion, respectivelynot later than two (2) on all years prior to the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement (and time shall be of the Base Rent on an annual basis as provided in Section 3.3 below (provided only essence with respect to the giving of such Notice). It is expressly understood and agreed that upon commencement such Notice from Tenant shall be void and of the First Extended Term the only remaining option to extend no effect and the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement shall be automatically extended for four (4) renewal terms of five (5) years each (each such five year renewal term being herein referred to as an "Extended Term"), unless Tenant shall have give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) years prior to the option scheduled expiration of the then Fixed Term (in the case of the first Extended Term) or the then existing Extended Term (in the case of any Extended Term after the first Extended Term), that Tenant elects not so to extend the Term for two of this Agreement (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation time shall be of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option essence with respect to the Second Extended Term, no further right to extend giving of such Notice) in which case the Term shall exist). Tenant shall deliver, if of this Lease will expire at all, written notice of its exercise the end of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before then current Term. Each Extended Term shall commence on the day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that (a) Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the fourth (4th) Extended Term, (b) the Minimum Rent payable during such Extended Term shall equal one hundred two percent (102%) of the sum of (i) the Minimum Rent payable by Tenant for the Accounting Period immediately preceding the commencement of such Extended Term and (ii) one thirteenth (1/13th) of the Percentage Rent payable by Tenant for the last Fiscal Year ending prior to the commencement of such Extended Term, and (c) the Base Year for purposes of computing Percentage Rent payable during such Extended Term shall mean the first Fiscal Year ending after the commencement of such Extended Term. If Tenant shall give Notice within that it elects not to extend the time allowedTerm, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant shall have Provided the option to extend term of the New Management Agreement is simultaneously extended in accordance with the terms of the New Management Agreement, the Term may be extended, at Tenant’s option, for up to two (2) consecutive five (5) year periods (collectively, the "FIRST “EXTENDED TERM" and "SECOND EXTENDED TERM", respectivelyTERMS”) on all of fifteen (15) years each pursuant to a written notice to Landlord given at least two (2) years prior to the terms and conditions contained in this Lease including, without limitation, continuation then Expiration Date. If Tenant fails to give notice of the adjustment its election not to exercise either of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option its options to extend the Term shall be on or before the Second Extended Term and upon exercise of date which is the option with respect day prior to the Second Extended Term, no further right date that is two (2) years prior to the then Expiration Date or if the Portfolio Manager fails to give notice of its election not to exercise either of its options to extend the term of the New Management Agreement on or before the date which is the day prior to the date that is two (2) years prior to the then Expiration Date, Tenant shall be deemed to have exercised the applicable extension option. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this SECTION 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. Otherwise, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. If Tenant gives notice of its election not to extend the Term or if the Portfolio Manager gives notice of its election not to extend the term of the New Management Agreement, or if Tenant shall have no further right to extend the Term Term, then at any time during the last two years of the Term, Landlord may terminate this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term Agreement and the Second Extended Term, if applicableTerm on not less than thirty (30) days’ prior written notice.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the option right to extend the Term for two one (21) consecutive five renewal term of fifteen (515) year periods years (the "FIRST EXTENDED TERM" and Extended Term"SECOND EXTENDED TERM", respectively) ). The Extended Term shall commence on all the terms and conditions contained in this Lease including, without limitation, continuation day succeeding the expiration of the adjustment Fixed Term. All of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement terms, covenants and provisions of the First Extended Term the only remaining option to extend the Term this Agreement shall be the Second Extended Term and upon exercise of the option with respect apply to the Second Extended Term, except that Tenant shall have no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before beyond the expiration of the Term or First Extended Term. If Tenant shall elect to exercise the aforesaid option, as it shall do so by giving Landlord Notice thereof, not later than December 31, 2017, it being understood and agreed that time shall be of the case may beessence with respect to the giving of such Notice. In If Tenant shall fail to give such Notice, this Agreement shall automatically terminate at the event Tenant fails to deliver end of the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option NoticeFixed Term, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further right option to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableAgreement.

Extended Term. Tenant Provided that no Event of Default shall have occurred and be continuing, the option Term of this Agreement and the term of the Other Leases and the Little Xxxx Xxxxx Leases shall be automatically extended for a first renewal term of ten (10) years (the "First Extended Term"), unless Tenant (for purposes of this Section 2.4, the term "Tenant" shall mean "Tenant" as defined herein or as defined in the Little Xxxx Xxxxx Leases, as the context may require) shall give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) years prior to the scheduled expiration of the Fixed Term of this Agreement, that Tenant elects not so to extend the Term of this Agreement or that Tenant elects not to so extend the term of any of the Other Leases or Little Xxxx Xxxxx Leases (and time shall be of the essence with respect to the giving of such Notice) in which case the Terms of this Lease and the term of the Other Leases and the Little Xxxx Xxxxx Leases will expire at the end of the then current Term. Further, provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement and the term of the Other Leases and the Little Xxxx Xxxxx Leases shall be automatically further extended for a second renewal term of ten (10) years (the "Second Extended Term"), unless Tenant shall give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement scheduled expiration of the First Extended Term the only remaining option that Tenant elects not to so further extend the Term of this Agreement or that Tenant elects not to so extend the term of any of the Other Leases or the Little Xxxx Xxxxx Leases (and time shall be of the essence with respect to the giving of such Notice). The First Extended Term and the Second Extended Term and upon exercise of are collectively referred to as the option with respect to the Second "Extended Term, no further right to extend the Terms." Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm and the term of any of the Other Leases or the Little Xxxx Xxxxx Leases in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. 50.2.1 Tenant shall have has the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease for one (1) extended term of five (5) years (the “First Extended Term”). Upon Tenant’s timely exercise of its option to extend this Lease for the First Extended Term in the manner set forth below, the word “Term,” as used in this Lease, shall be amended to include such additional five (5) year period. The First Extended Term shall commence immediately upon the expiration of the Term. If Tenant does not request “Landlord’s Determination” (as hereinafter defined) during the applicable “Request Period” (as hereinafter defined) or submit the “Exercise Notice” (as hereinafter defined) by the applicable date specified in Paragraph 50.10 below, or otherwise fails to take any action required by this Paragraph 50 in order to exercise the Extension Option for the First Extended Term within the time specified by this Paragraph 50, Tenant’s rights with respect to the First Extended Term shall expire and thereafter, Tenant shall be conclusively deemed to have no further waived its right to the First Extended Term. Failure to exercise any Extension Option granted herein shall terminate all subsequent Extension Options, if any. If Tenant does timely exercise its option to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include for the First Extended Term and the Second Extended Term, if applicableit may not thereafter revoke such exercise.

Extended Term. So long as this Lease is still in full force and effect, and subject to the Conditions (as hereinafter defined), which Landlord may waive, in its discretion, at any time, but only by notice to Tenant, Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease for one (1) additional period (the “Extended Term”) of five (5) years. The Extended Term shall commence on the day succeeding the expiration of the Original Term and thereaftershall end on the day immediately preceding the fifth (5th) anniversary of the commencement of the Extended Term. All of the terms, covenants and provisions of this Lease applicable immediately prior to the commencement of the Extended Term shall apply to the Extended Term except that (i) the Annual Fixed Rent for the Extended Term shall be the Market Rate (as hereinafter defined) for the Premises determined as of the commencement of the Extended Term, as designated by Landlord by notice to Tenant (“Landlord’s Notice”), but subject to Tenant’s right to dispute as hereinafter provided; and (ii) Tenant shall have no further right to extend the Term of this LeaseLease beyond the Extended Term hereinabove provided. References in If Tenant shall elect to exercise the aforesaid option, it shall do so by giving Landlord notice (an “Election Notice”) of its election not later than six (6) months, nor sooner than one (1) year, prior to the expiration of the Original Term which Election Notice may demand that Landlord provide Landlord’s Notice within thirty (30) days thereafter. If Tenant fails to give the Election Notice to Landlord timely, the Term of this Lease shall automatically terminate no later than the end of the Original Term, and Tenant shall have no further option to extend the Term of this Lease, it being agreed that time is of the essence with respect to the "Term" giving of the Election Notice. If Tenant shall include extend the initial Term hereof pursuant to the provisions of fifteen this Section 2(b), such extension shall (15subject to satisfaction of the Conditions, unless waived by Landlord) years and be automatically effected without the execution of any additional documents, but Tenant shall, in additionat Landlord’s request, include execute an agreement confirming the First Extended Term and Annual Fixed Rent for the Second Extended Term. The “Conditions” are that, if applicableas of the date of the Election Notice, there shall exist no default of Tenant and Vidara Therapeutics Inc. (DE) (or any successor by Merger, or any Affiliate, as defined in Section 14) shall actually occupy the entire Premises.

Extended Term. Tenant shall have the option right to extend the Term for all of the Premises for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the extension terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before each ("Extended Term") which shall commence on the day following the expiration of the initial Term and end on the first anniversary of the Expiration Date or First the expiration date of the first Extended Term, as the case may be, unless the Extended Term shall sooner terminate pursuant to any of the terms of this Lease or otherwise. In the event Each Extended Term shall commence only if Tenant fails to deliver the applicable Option Notice within the time allowed, shall have notified Landlord shall deliver written notice to Tenant in writing of Tenant's failure exercise of such extension right not later than four and a half (4½) months prior to deliver the Option NoticeExpiration Date of the initial Term or the first Extended Term, as the case may be, and Tenant shall then have thirty (30) days from receipt at the time of the exercise of such right and immediately prior to the then Expiration Date, this Lease is in full force and effect and no Default shall have occurred and be continuing hereunder. Time is of the essence with respect to the giving of the notice within which to deliver of Tenant's exercise of the Option Noticeextension right. Each Extended Term shall be upon all of the agreements, if at allterms, to Landlord. In covenants and conditions hereof binding upon Tenant, except that (a) the event (and only Extended Base Rent shall be as provided in the eventSchedule of Significant Terms, (b) thatLandlord shall have no obligation to perform any work or make any contribution to work performed to prepare the Premises for Tenant's use, Tenant fails to deliver an Option Notice to Landlord within such thirty and (30c) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term, other than in accordance with this Section 4. Upon the exercise of each extension option by Tenant, (i) the Extended Term shall be added to and become part of the Term (but shall not be considered part of the Initial Term), (ii) any reference to "this Lease. References in this Lease ", to the "Term", the "term of this Lease" or any similar expression shall be deemed to include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableand (iii) the expiration of each Extended Term shall become the Expiration Date.

Extended Term. Tenant Provided that no Event of Default shall have occurred ------------- and be continuing, this Agreement shall be in full force and effect, and the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on term of all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend Other Leases shall be simultaneously extended, the Term shall be automatically extended for three (3) consecutive renewal terms, the Second first such renewal term to be for a period of ten (10) years and the last two such renewal terms to be for a period of fifteen (15) years each (collectively, the "Extended Term and upon exercise Terms"), unless Tenant shall give Landlord Notice, not later than two --------------- (2) years prior to the scheduled expiration of the option then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement (and time shall be of the essence with respect to the Second Extended Term, giving of such Notice). It is expressly understood and agreed that such Notice from Tenant shall be void and of no further right effect and the Term shall be automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this ----------- Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement shall be automatically extended for a first renewal term of seven (7) years, five (5) months and fourteen (14) days (the "First Extended Term"), unless Tenant shall have give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) years prior to the option scheduled expiration of the Fixed Term of this Agreement, that Tenant elects not so to extend the Term of this Agreement (and time shall be of the essence with respect to the giving of such Notice). Further, provided that no Event of Default shall have occurred and be continuing, the Term of this Agreement shall be automatically further extended for a second renewal term of seven (7) years, five (5) months and fourteen (14) days (the "Second Extended Term"), unless Tenant shall give Landlord Notice, in Tenant's sole and absolute discretion, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement scheduled expiration of the First Extended Term the only remaining option Term, that Tenant elects not to so further extend the Term of this Agreement (and time shall be of the essence with respect to the giving of such Notice). The First Extended Term and the Second Extended Term and upon exercise of are collectively referred to as the option with respect to the Second "Extended Term, no further right to extend the Terms." Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that, at the time Subtenant elects to exercise the option herein granted, (i) this Sublease is in full force and effect, (ii) Subtenant is not in default beyond any applicable notice and grace periods hereunder, and (iii) Subtenant or an Affiliated Transferee (as defined in Section 16.B of the Xxxxxxxxx) is occupying all of the Subleased Premises, Subtenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM"option, respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option to Sublandlord ("OPTION NOTICE"“Subtenant’s Extension Notice”) to Landlord at least given not less than six (6) months but not more than one (1) year before prior to the expiration of the Term or First Extended TermExpiration Date, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease Sublease for an additional four (4) year period (the “Extended Term”) expiring on April 30, 2015, subject to Sublandlord’s Termination Option and thereafter, Tenant Subtenant’s Termination Option (as such terms are hereinafter defined). The Extended Term shall commence immediately following the end of the initial Term hereof. All terms and conditions applicable during the initial Term shall apply during the Extended Term including without limitation the obligation of Subtenant to pay Fixed Rent and its Pro Rata Share of Operating Expenses and Taxes except that (x) Subtenant shall have no further right to extend this Sublease beyond the Extended Term of this Lease. References in this Lease hereinabove provided, (y) there shall be no tenant improvement allowance, and (z) such Extended Term shall be subject to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableparties’ Termination Options.

Extended Term. If this original lease is still in full force and effect, then the Tenant shall have the right and option to extend the Term initial term hereof for two twelve (212) consecutive five thirty (530) year periods month options of extension (the "FIRST EXTENDED TERM" “First Option Period”, “Second Option Period”, “Third Option Period”, “Fourth Option Period” and "SECOND EXTENDED TERM"“Fifth Option Period”, “Sixth Option Period”“Seventh Option Period”“Eighth Option Period”“Ninth Option Period”“Tenth Option Period”“Eleventh Option Period”“Twelfth Option Period” respectively) on all ). The term of this lease shall be extended for the terms and conditions contained in this Lease includingapplicable Option Period without the requirement of any further instrument, without limitationunless, continuation no later than the date which is Ninety (90)days prior to the expiration of the adjustment initial term or applicable Option Period, as the case may be, the Tenant shall send written notice (the “Termination Notice”) to the Landlord of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining its intention not to exercise its option to extend the Term term of this lease, in which event the term of this lease shall be expire on the Second Extended Term and upon exercise last day of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term initial term or First Extended Termapplicable Option Period, as the case may be. In If the event Tenant fails shall fail to deliver send the applicable Option Notice within Termination Notice, then the time allowedterm of this lease shall be extended as aforesaid upon all of the same terms and provisions contained in this lease, Landlord shall deliver written notice to Tenant except that annual minimum rent for each of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant Periods shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References as set forth in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablearticle 2.03.

Extended Term. Tenant Provided that no Event of Default shall have occurred and be continuing and the option to extend term of all of the Other Leases shall be simultaneously extended, the Term shall be automatically extended for two (2) consecutive five renewal terms, of ten (510) year periods years each (collectively, the "FIRST EXTENDED TERM" Extended Terms"), unless Tenant shall give Landlord Notice, in Tenant's sole and "SECOND EXTENDED TERM"absolute discretion, respectivelynot later than two (2) on all years prior to the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement (and time shall be of the Base Rent on an annual basis as provided in Section 3.3 below (provided only essence with respect to the giving of such Notice). It is expressly understood and agreed that upon commencement such Notice from Tenant shall be void and of the First Extended Term the only remaining option to extend no effect and the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant Provided that no Event of Default shall have ------------- occurred and be continuing, this Agreement shall be in full force and effect, and the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on term of all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment Other Leases shall be simultaneously extended (unless any such Other Leases shall have been terminated pursuant to the provisions of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend Articles 10 or 11 thereof), the Term shall be automatically extended for four ----------------- (4) consecutive renewal terms of twelve (12) years each (collectively, the Second "Extended Term and upon exercise Terms"), unless Tenant shall give Landlord Notice, not later than two --------------- (2) years prior to the scheduled expiration of the option then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement and the Other Leases (and time shall be of the essence with respect to the Second Extended Term, giving of such Notice). It is expressly understood and agreed that such Notice from Tenant shall be void and of no further right effect and the Term shall be automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this ----------- Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Agreement. Otherwise, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. [Notwithstanding the foregoing, if Landlord has the right, under the provisions of the Ground Lease, to elect to renew or extend the term of the Ground Lease, unless Tenant shall notify Landlord at least one hundred eighty (180) days prior to the expiration of the period within which Landlord is obligated to notify the landlord under the Ground Lease of its election to renew or extend the term of the Ground Lease that Tenant intends not to renew the Term, Landlord shall extend the Ground Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease Agreement shall be deemed to be automatically extended to the "Term" shall include expiration of the initial Term term of fifteen (15) years and shallthe Ground Lease, in addition, include the First Extended Term and the Second Extended Term, if applicableas renewed or extended.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, this Agreement shall be in full force and effect, the Term shall be automatically extended for three (3) consecutive renewal terms of twelve (12) years each (collectively, the "Extended Terms"), unless Tenant shall have the option to extend the Term for give Landlord Notice, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the Base Rent on an annual basis as provided in Section 3.3 below (provided only case may be), that upon commencement of the First Extended Term the only remaining option Tenant elects not so to extend the Term term of this Agreement (and time shall be the Second Extended Term and upon exercise of the option essence with respect to the Second giving of such Notice). Each Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. If Tenant has not given Notice of its intention to terminate this Lease pursuant to Section 3.03 and the Initial Term has not been sooner term, the Term of this Lease shall automatically be extended on the same terms and conditions as set forth herein for an Extended Term of five (5) years (the "First Extended Term"). If Tenant has not given Notice of its intention to terminate pursuant to Section 3.03 and the Initial Term and the First Extended Term has not been sooner terminated, the Term of the Lease shall automatically be extended on the same terms and conditions as set forth herein for one (1) additional Extended Term of five (5) full Years (the "Second Extended Term"). If Tenant has not given Notice of its intention to terminate pursuant to Section 3.03 and the Initial Term, the First Extended Term or the Second Extended Term have not been sooner terminated, the Term of the Lease shall automatically be extended on the same terms and conditions as set forth herein for one (1) additional Extended Term of five (5) full years (the "Third Extended Term"). If Tenant has not given Notice of its intention to terminate pursuant to Section 3.03 and the Initial Term, the First Extended Term, the Second Extended Term and the Third Extended Term have not been sooner terminated, the Term of the Lease shall automatically be extended on the same terms and conditions as set forth herein for one (1) additional Extended Term of five (5) Years (the "Fourth Extended Term"). Notwithstanding the foregoing, Tenant may elect at any time throughout the Term to exercise, by Notice to Landlord, its option to extend the Term for two (2) consecutive five (5) year periods (through any or all Extended Terms. If and to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM"extent Tenant elects by written notice to Landlord to exercise its option to extend the Term through any Extended Term, respectively) on all the terms and conditions contained in Tenant's option to terminate this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in pursuant to Section 3.3 below (provided only that upon commencement of the First 3.03 with respect to such Extended Term the only remaining for which Tenant has exercised its extension option shall no longer be applicable, but such option to terminate pursuant to Section 3.03 shall continue to apply to any Extended Term with respect to which such option to extend was not exercised pursuant to this Section 3.02. All elections to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableirrevocable after exercised.

Extended Term. Tenant Provided that OpCo shall be in compliance with the terms and conditions hereof, and this Agreement shall be in full force and effect, OpCo shall, subject to Section 4.4 below, have the option right to extend the Term term of this Agreement, for two each of four (24) consecutive five (5) 5)-five year periods renewal terms (collectively, the "FIRST EXTENDED TERM" and Extended Terms"SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First ). Each Extended Term shall commence on the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Initial Term or First the preceding Extended Term, as the case may be. In All of the event Tenant fails terms, covenants and provisions of this Agreement shall apply to deliver each such Extended Term, except that (x) the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant Annual Continuing Fee for each Extended Term shall be considered the Fair Market Value of the Franchise as determined for such Extended Term and shall be determined pursuant to have elected not to extend the Term of this Lease Section 4.4 below and thereafter, Tenant (y) OpCo shall have no further right to extend the Term beyond the expiration of the Extended Terms. If OpCo shall elect to exercise any of the aforesaid options, it shall do so by giving Franchisor notice thereof not later than one (1) year prior to the scheduled expiration of the then current term of this Lease. References in this Lease to the "Term" shall include the initial Agreement (Initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second or Extended Term, if applicableas the case may be), it being understood and agreed that time shall be of the essence with respect to the giving of such notice. OpCo may not exercise its option for more than one such Extended Term at a time. If OpCo shall fail to give any such notice, this Agreement shall automatically terminate at the end of the term then in effect and OpCo shall have no further option to extend the term of this Agreement. If OpCo shall give such notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that OpCo and Franchisor shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the previous sentence, if, subsequent to the giving of notice of its election to exercise its right to extend the term of this agreement OpCo shall cease to be in compliance with the terms and conditions hereof and such non-compliance shall be continuing, unless Franchisor shall otherwise consent in writing, the extension of this agreement shall automatically terminate at the end of the Initial Term or Extended Term then in effect, and OpCo shall have no further option to extend the term of this Agreement.

Extended Term. In the event (i) the APA Closing Date has not yet occurred prior to the expiration of the Initial Term, (ii) the APA has not been terminated, and (iii) the parties under the APA are continuing to obtain the requisite government approvals to satisfy the closing conditions thereunder (the “Extension Conditions”), then Tenant shall have the option (the “Option”) to extend the Term for an additional period of time equivalent to the earlier of the closing of the APA or the termination of the APA (the “Extended Term”), beginning on the expiration of the Initial Term, on all of the same terms and conditions as set forth in this Lease, but at an adjusted Minimum Rent as set forth in Section 3.1 below. The Option may be exercised by Tenant by delivery of written notice to Landlord, which notice must be received by Landlord prior to the expiration of the Initial Term. If Tenant fails to timely deliver such written notice, or if this Lease is terminated pursuant to any other terms or provisions of this Lease prior to the expiration of the Initial Term, the Option shall lapse, and Tenant shall have no right to extend the Initial Term. The Option shall be exercisable by Tenant on the express conditions that (i) at the time of delivery of Tenant’s notice of its election to exercise the Option, and at all times prior to the commencement of the Extended Term, no Events of Default have occurred and remain uncured, (ii) no previous Events of Default (whether or not the same have been timely cured) shall have occurred on more than two (2) consecutive five occasions during the Initial Term, (5iii) year periods the Extension Conditions have been satisfied, and (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectivelyiv) on all the terms and conditions contained in Tenant has not assigned this Lease including, without limitation, continuation nor sublet all or any part of the adjustment of Premises, it being understood that the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect Option is personal to the Second Extended Term, no further right to extend the Term shall exist). original named Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may beunder this Lease. In the event Tenant fails to deliver the applicable Option Notice within the time allowedof any such assignment or sublease, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, shall lapse and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term null and void and of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableforce or effect.

Extended Term. Tenant shall have Provided the option to extend term of New Management Agreement is simultaneously extended in accordance with the terms of the New Management Agreement, the Term may be extended, at Tenant's option, for up to two (2) consecutive five (5) year periods (collectively, the "FIRST EXTENDED TERM" and Extended Terms"SECOND EXTENDED TERM", respectively) on all of fifteen (15) years each pursuant to a written notice to Landlord given at least two (2) years prior to the terms and conditions contained in this Lease including, without limitation, continuation then Expiration Date. If Tenant fails to give notice of the adjustment its election not to exercise either of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option its options to extend the Term on or before the date which is the day prior to the date that is two (2) years prior to the then Expiration Date, Tenant shall be deemed to have exercised the Second applicable extension option. Each Extended Term and upon exercise of shall commence on the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. Otherwise, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. If Tenant gives notice of its election not to extend the Term or if the Portfolio Manager gives notice of its election not to extend the term of the New Management Agreement, or if Tenant shall have no further right to extend the Term Term, then at any time during the last two years of the Term, Landlord may terminate this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term Agreement and the Second Extended Term, if applicableTerm on not less than thirty (30) days' prior written notice.

Extended Term. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the option right to extend the Term for two one renewal term of twenty (220) consecutive five (5) year periods years (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) “Extended Term”). The Extended Term shall commence on all the terms and conditions contained in this Lease including, without limitation, continuation day succeeding the expiration of the adjustment Fixed Term. All of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement terms, covenants and provisions of the First Extended Term the only remaining option to extend the Term this Agreement shall be the Second Extended Term and upon exercise of the option with respect apply to the Second Extended Term, except that Tenant shall have no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before beyond the expiration of the Term or First Extended Term. If Tenant shall elect to exercise the aforesaid option, as it shall do so by giving Landlord Notice thereof not later than June 30, 2025, it being understood and agreed that time shall be of the case may beessence with respect to the giving of such Notice. In the event If Tenant fails shall fail to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option give such Notice, this Agreement shall automatically terminate at the end of the Fixed Term and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further right option to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicableAgreement.

Extended Term. Provided that no Event of Default shall have occurred ------------- and be continuing, this Agreement shall be in full force and effect, and the term of all of the Other Leases shall be simultaneously extended, the Term shall be automatically extended for three (3) consecutive renewal terms of twelve (12) years each (collectively, the "Extended Terms''), unless Tenant shall have the option to extend the Term for give -------------- Landlord Notice, not later than two (2) consecutive five (5) year periods (years prior to the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation scheduled expiration of the adjustment then current Term of this Agreement (Fixed or Extended, as the case may be), that Tenant elects not so to extend the term of this Agreement (and time shall be of the Base Rent on an annual basis as provided in Section 3.3 below (provided only essence with respect to the giving of such Notice). It is expressly understood and agreed that upon commencement such Notice from Tenant shall be void and of the First Extended Term the only remaining option to extend no effect and the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right automatically extended unless Tenant shall simultaneously elect not to extend the term of the Other Leases. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this Section 2.4, Landlord this ----------- Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease and thereafterAgreement. Otherwise, Tenant shall have no further right to extend the Term extension of this Lease. References in this Lease Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicablesame.

Extended Term. Tenant's option to extend the term of the Lease as provided in Paragraph 4 of the Fifth Amendment to Lease dated November 2, 2007 is hereby deleted in its entirety and replaced with the following: Tenant shall have the option right to extend the Term of the Lease for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the extension terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before each (each, an "Extended Term") which shall commence on the day following the expiration of the Term initial term and end on the first anniversary of the Expiration Date or First the expiration date of the first Extended Term, as the case may be, unless the Extended Term shall sooner terminate pursuant to any of the terms of this Lease or otherwise. In the event Each Extended Term shall commence only if Tenant fails to deliver the applicable Option Notice within the time allowed, shall have notified Landlord shall deliver written notice to Tenant in writing of Tenant's failure exercise of such extension right not later than four and a half (4½) months prior to deliver the Option NoticeExpiration Date of the initial Term or the first Extended Term, as the case may be, and Tenant shall then have thirty (30) days from receipt at the time of the exercise of such right and immediately prior to the then Expiration Date, this Lease is in full force and effect and no Default shall have occurred and be continuing hereunder. Time is of the essence with respect to the giving of the notice within which to deliver of Tenant's exercise of the Option Noticeextension right. Each Extended Term shall be upon all of the agreements, if at allterms, to Landlord. In covenants and conditions hereof binding upon Tenant, except that (a) the event (and only Extended Base Rent shall be as provided in the eventSchedule of Significant Terms, (b) thatLandlord shall have no obligation to perform any work or make any contribution to work performed to prepare the Premises for Tenant's use, Tenant fails to deliver an Option Notice to Landlord within such thirty and (30c) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term, other than in accordance with this Paragraph 7. Upon the exercise of each extension option by Tenant, (i) the Extended Term shall be added to and become part of the Term (but shall not be considered part of the initial term), (ii) any reference to "this Lease. References in this Lease ", to the "Term", the "term of this Lease" or any similar expression shall be deemed to include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, and (iii) the expiration of each Extended Term shall become the Expiration Date. Tenant shall have the right to exercise its option to extend for all of the Premises or for either (a) the portion of the Premises containing approximately 5,199 rentable square feet and known as Suite 220 and described herein as the Additional Premises or (b) the portion of the Premises containing approximately 6,801 rentable square feet and known as Suite 280; provided, however, that if applicableTenant elects to extend the Term of the Lease with respect to only a portion of the Premises, any remaining extension option shall only apply to the portion of the Premises for which the Lease has been extended. Further, in the event that Tenant elects to extend the Term of the Lease with respect to only a portion of the Premises, as provided above, Tenant shall vacate the portion of the Premises for which the Lease is not being extended on or before the end of the then current Term of the Lease and Landlord and Tenant shall promptly enter into an amendment to the Lease deleting the applicable Suite from the Premises and making such further adjustments as may be appropriate, including, without limitation, proportionate reductions in the Base Rent, the Tenant's Proportionate Share and the allocation of Parking Spaces.

Extended Term. Tenant shall have Provided the option to extend term of the New Management Agreement is simultaneously extended in accordance with the terms of the New Management Agreement, the Term may be extended, at Tenant's option, for up to two (2) consecutive five (5) year periods (collectively, the "FIRST EXTENDED TERM" and TERMS"SECOND EXTENDED TERM", respectively) on all of fifteen (15) years each pursuant to a written notice to Landlord given at least two (2) years prior to the terms and conditions contained in this Lease including, without limitation, continuation then Expiration Date. If Tenant fails to give notice of the adjustment its election not to exercise either of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option its options to extend the Term shall be on or before the Second Extended Term and upon exercise of date which is the option with respect day prior to the Second Extended Term, no further right date that is two (2) years prior to the then Expiration Date or if the Portfolio Manager fails to give notice of its election not to exercise either of its options to extend the term of the New Management Agreement on or before the date which is the day prior to the date that is two (2) years prior to the then Expiration Date, Tenant shall be deemed to have exercised the applicable extension option. Each Extended Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of commence on the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before day succeeding the expiration of the Fixed Term or First the preceding Extended Term, as the case may be. In All of the event terms, covenants and provisions of this Agreement shall apply to each such Extended Term, except that Tenant fails shall have no right to deliver extend the applicable Option Term beyond the expiration of the Extended Terms. If Tenant shall give Notice within that it elects not to extend the time allowedTerm in accordance with this SECTION 2.4, Landlord this Agreement shall deliver written notice to Tenant automatically terminate at the end of Tenant's failure to deliver the Option Notice, Term then in effect and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not no further option to extend the Term of this Lease Agreement. Otherwise, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and thereafteragreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. If Tenant gives notice of its election not to extend the Term or if the Portfolio Manager gives notice of its election not to extend the term of the New Management Agreement, or if Tenant shall have no further right to extend the Term Term, then at any time during the last two years of the Term, Landlord may terminate this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term Agreement and the Second Extended Term, if applicableTerm on not less than thirty (30) days' prior written notice.

Extended Term. Subject to the provisions of this section, Tenant shall have the option right to extend the Term term of this Lease for two an additional term (2the “Extended Term”) consecutive of five (5) year periods (years following the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist)Expiration Date. Tenant shall deliver, if at all, may exercise such right only by giving Landlord written notice of its exercise of the option ("OPTION NOTICE") to Landlord such right at least six (6) months months, but not more than one nine (19) year months, before the expiration Expiration Date and only if no Event of the Term or First Extended TermDefault (as defined in Paragraph 32 of this Lease) exists under this Lease when Tenant exercises such right. If Tenant fails to exercise such right in accordance with this section, as the case may besuch right shall terminate. In the event Tenant fails of any approved or permitted assignment or subleasing in accordance with Section 44 below, Tenant’s right to deliver extend shall not terminate but may be assigned in connection with such assignment or, in the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt event of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) dayssubleasing, Tenant shall be considered entitled to have elected not grant such subtenant the right to exercise such right and, thereby, extend the Term term of this Lease and thereaftersuch sublease; provided, Tenant however, that (x) in the case of a Full Transfer other than a Permitted Transfer (as those terms are defined in Section 44), Landlord shall have no further the right to recapture the entire Premises in accordance with Section 44(b); and (y) if Landlord does not recapture the Premises and Tenant completes a Full Transfer (other than a Permitted Transfer), which Full Transfer includes the right to extend the Term term of this Lease. References in this Lease as provided above, then Tenant shall pay 100% of any excess or “bonus” rent to the "Term" shall include the initial Term of fifteen Landlord (15) years after deducting Tenant’s reasonable, actual brokerage and shallimprovement expenses, if any, in additionobtaining such assignment or sublease), include the First Extended Term and the Second Extended Term, if applicablerather than 50% of any excess as provided in Section 44(d).