Common use of EXTENSION OF LEASE Clause in Contracts

EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall not be assignable to any subtenant but shall be considered assigned to any assignee of this Lease under an assignment of the entire Lease by Lessee in compliance with Sections 20 and 40(i) of this Lease. The right to extend shall be for all or part of the Premises. Lessee shall give to Lessor written notice “Initial Notice” of Lessee’s election to so extend this Lease, and such written notice shall be delivered to Lessor on or before July 1, 2006. If Lessee does not desire to lease the entire Premises during the Extended Term, such notice shall contain a description of the exact location of the Premises that Lessee desires to lease during the Extended Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specified. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate in accordance with Section 4 of this Lease.

EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall So long as Tenant is not be assignable to then in default (beyond any subtenant but shall be considered assigned to applicable notice and cure period) under any assignee term or covenant of this Lease under at the time Tenant delivers an assignment Exercise Notice (as defined below) and is not in default of any of its monetary obligations or in Material Non-Monetary Default (as defined below) (beyond any applicable notice and cure period) as of the entire Lease by Lessee in compliance with Sections 20 and 40(i) of this Lease. The right to extend shall be for all or part first day of the PremisesExtension Period, Tenant is hereby granted the right (each such right, an “Extension Option”) to renew the initial Term for up to three (3) additional periods of five (5) years each (each such period, an “Extension Period”). Lessee shall give Tenant may elect to Lessor exercise an Extension Option by delivering written notice to Landlord (the “Initial Exercise Notice” of Lessee’s election ”) indicating that Tenant elects to so extend this Leaseexercise the Extension Option, and such written which notice shall must be delivered to Lessor on or before July 1, 2006. If Lessee does not desire Landlord at least five hundred (500) days prior to lease the entire Premises during the Extended Term, such notice shall contain a description expiration of the exact location of the Premises that Lessee desires to lease during the Extended then applicable Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specified. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (Tenant timely and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until properly exercises an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate Extension Option in accordance with Section 4 the immediately preceding sentence, all terms and conditions set forth in this Lease shall continue to apply during the Extension Period, except that Basic Annual Rent for the first year of such Extension Period shall be equal to ninety five percent (95%) of the Fair Market Rent (as defined in Exhibit “H”), and thereafter, on each anniversary of the Rent Commencement Date during the Extension Period, shall be increased by an amount equal to the Escalation Rate. In addition, the term of this Lease may be extended as provided in that certain Expansion Option Agreement between Tenant and Landlord (or its successors in interest under such agreement), dated on or around the date hereof (the “Expansion Option Agreement”). For purposes of this Lease, a “Material Non-Monetary Default” means (i) Tenant’s default or failure to perform its obligations under the provisions of Article IX, X or XI, excluding any defaults or failures to perform related to Tenant’s obligation to deliver any documentation, (ii) Tenant’s default or failure to perform its obligations under the provisions of Sections 6.1, 6.2, 6.3, or 14.2, and/or (iii) Tenant’s default or failure to perform its maintenance and repair obligations where such failure could reasonably be expected to result in a violation of applicable law, or damage or injury to person or property. A default under this Lease shall not be a “Material Non-Monetary Default” unless and until Landlord provides written notice to Tenant that such default constitutes a “Material Non-Monetary Default”.

EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall So long as Tenant is not be assignable to then in default beyond any subtenant but shall be considered assigned to applicable cure period, under any assignee term or covenant of this Lease under at the time Tenant delivers an assignment Exercise Notice (as defined below) or as of the entire Lease by Lessee in compliance with Sections 20 and 40(ifirst day of the Extension Period, Tenant is hereby granted the right (each such right, an “Extension Option”) to renew the term of this LeaseLease for two (2) additional periods of five (5) years each (each such period, an “Extension Period”). The right An Extension Option may be exercised as to extend the entire Leased Premises then leased by Tenant, or Tenant may elect on a one-time basis to surrender one full floor of the Leased Premises and exercise the applicable Extension Option with respect to only the remaining portion of the Leased Premises. Any portion of the Leased Premises for which Tenant is not exercising an Extension Option (the “Surrendered Premises”) (a) shall be for all or part surrendered to Landlord at the end of the Premises. Lessee shall give then applicable term of this Lease (and prior to Lessor written notice “Initial Notice” of Lessee’s election to so extend the Extension Period) in the conditioned required by this Lease, and such (b) must be a single full floor of the Building. Tenant may elect to exercise an Extension Option by delivering written notice shall to Landlord (the “Exercise Notice”) indicating that Tenant elects to exercise such Extension Option, which notice must be delivered to Lessor on or before July 1, 2006. If Lessee does not desire to lease Landlord at least twelve (12) months prior the entire Premises during the Extended Term, such notice shall contain a description expiration of the exact then applicable term of this Lease and which Exercise Notice must specify the location of the Premises that Lessee desires to lease during the Extended Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specifiedSurrendered Premises, if applicable. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended Tenant elects to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until exercise an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate Extension Option in accordance with Section 4 the immediately preceding sentence, all terms and conditions set forth in this Lease shall continue to apply during the Extension Period, except that Basic Annual Rent applicable to the first year of this Leasesuch Extension Period shall be equal to the lesser of (i) Basic Annual Rent as of the end of the prior term increased by two and one-half of one percent (2.5%) or (ii) the FMRR (as defined in Exhibit “G”).

EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall So long as Tenant is not be assignable to then in default beyond any subtenant but shall be considered assigned to applicable cure period, under any assignee term or covenant of this Lease under at the time Tenant delivers an assignment Exercise Notice (as defined below) or as of the first day of the Extension Period, Tenant is hereby granted the right (each such right, an “Extension Option”) to renew the Term for two (2) additional periods of five (5) years each (each such period, an 5 “Extension Period”). An Extension Option may be exercised as to the entire Lease Leased Premises then leased by Lessee in compliance with Sections 20 and 40(iTenant, or Tenant may elect on a one-time basis to surrender one full floor of the Leased Premises, but not to exceed twenty-five percent (25%) of this Leasethe rentable square footage of the Leased Premised as of the date hereof, and exercise the applicable Extension Option with respect to only the remaining portion of the Leased Premises. The right to extend Any portion of the Leased Premises for which Tenant is not exercising an Extension Option (the “Surrendered Premises”) (a) shall be for all or part surrendered to Landlord at the end of the Premises. Lessee shall give then applicable Term (and prior to Lessor written notice “Initial Notice” of Lessee’s election to so extend the Extension Period) in the conditioned required by this Lease, and such (b) must be a full floor of the Building leased by Tenant. Tenant may elect to exercise an Extension Option by delivering written notice shall to Landlord (the “Exercise Notice”) indicating that Tenant elects to exercise such Extension Option, which notice must be delivered to Lessor on or before July 1, 2006. If Lessee does not desire to lease Landlord at least twelve (12) months prior the entire Premises during the Extended Term, such notice shall contain a description expiration of the exact then applicable Term and which Exercise Notice must specify the location of the Premises that Lessee desires to lease during the Extended Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specifiedSurrendered Premises, if applicable. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended Tenant elects to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until exercise an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate Extension Option in accordance with Section 4 the immediately preceding sentence, all terms and conditions set forth in this Lease shall continue to apply during the Extension Period, except that Basic Annual Rent applicable to the first year of this Leasesuch Extension Period shall be equal to the lesser of (i) Basic Annual Rent as of the end of the prior term increased by two and one-half of one percent (2.5%) or (ii) the FMV (as defined in Exhibit “H”).

EXTENSION OF LEASE. The right to extend this Lease pursuant to Section 4 above shall So long as Tenant is not be assignable to then in default beyond any subtenant but shall be considered assigned to applicable cure period, under any assignee term or covenant of this Lease under at the time Tenant delivers an assignment Exercise Notice (as defined below) or as of the entire Lease by Lessee in compliance with Sections 20 and 40(ifirst day of the Extension Period, Tenant is hereby granted the right (each such right, an “Extension Option”) to renew the term of this LeaseLease for two (2) additional periods of five (5) years each (each such period, an “Extension Period”). The right An Extension Option may be exercised as to extend the entire Leased Premises then leased by Tenant, or Tenant may elect on a one-time basis to surrender one full floor of the Leased Premises and exercise the applicable Extension Option with respect to only the remaining portion of the Leased Premises. Any portion of the Leased Premises for which Tenant is not exercising an Extension Option (the “Surrendered Premises”) (a) shall be for all or part surrendered to Landlord at the end of the Premises. Lessee shall give then applicable term of this Lease (and prior to Lessor written notice “Initial Notice” of Lessee’s election to so extend the Extension Period) in the conditioned required by this Lease, and such (b) must be a single full floor of the Building. Tenant may elect to exercise an Extension Option by delivering written notice shall to Landlord (the “Exercise Notice”) indicating that Tenant elects to exercise such Extension Option, which notice must be delivered to Lessor on or before July 1, 2006. If Lessee does not desire to lease Landlord at least twelve (12) months prior the entire Premises during the Extended Term, such notice shall contain a description expiration of the exact then applicable term of this Lease and which Exercise Notice must specify the location of the Premises that Lessee desires to lease during the Extended Term. Lessor shall have ten (10) days from receipt of said notice to approve or disapprove of the Premises specifiedSurrendered Premises, if applicable. In the event Lessor disapproves of the Premises specified, Lessor shall deliver notice of the disapproval which states the reasons for disapproval (and Lessor’s reasons for disapproval must be reasonably based on the functionality of the portion of the Premises not intended Tenant elects to be renewed and Lessor’s expectations of its ability to relet such space) . Lessee shall then have five (5) days to resubmit a revised description of the Premises Lessee desires to lease during the Extended Term. This process shall continue until exercise an agreement is reached. In the event that Lessor and Lessee are unable to agree upon the location of the Premises for the Extended Term within sixty (60) days after Initial Notice, there shall be no extension. If Lessee desires to lease the entire Premises during the Extended Term, then Lessor shall not have the right to approve or disapprove of the Premises specified, and the parties shall proceed to determine the Market Rate Extension Option in accordance with Section 4 the immediately preceding sentence, all terms and conditions set forth in this Lease shall continue to apply during the Extension Period, except that Basic Annual Rent applicable to the first year of this Leasesuch Extension Period shall be equal to the lesser of (i) Basic Annual Rent as of the end of the prior term increased by two and one-half of one percent (2.5%) or (ii) the FMRR (as defined in Exhibit “H”).