Extension of Term Options Sample Clauses

Extension of Term Options. 36.01 (a) Tenant shall have the right to extend the term of this Lease for up to additional term(s)(18) of ten (10) years each, each such term (an “Extension Term”) commencing on the day following the expiration of the initial term of this Lease in the case of the first Extension Term, or the day following the immediately preceding Extension Term, in the case of Extension Term after the first Extension Term (the first day of any such Extension Term being herein referred to as the commencement date of the applicable Extension Term) and ending on the day preceding the tenth (10th) anniversary of the commencement date of such Extension Term provided that Tenant shall give Landlord notice (hereinafter called the “Extension Notice”) of its election to extend the term of this Lease at least nine (9) months prior to the commencement date of the applicable Extension Term.

Extension of Term Options. A. The Termination Date is amended to June 30, 2025 and, accordingly, Section 1.10 of the Original Lease is amended to read in its entirety as follows: June 30, 2025 as the same may be extended pursuant to the option of extension set forth in ARTICLE 41, unless, in any case, sooner terminated as provided in this Lease. A. The second sentence of the first grammatical paragraph of Article 41 is amended to read in its entirety as follows: Each option may be exercised for (a) all of the Premises as then constituted, or (b) not less than 80%, of the Premises as the same is constituted at the date the option for the portion is exercised; provided, however, if election (b) is chosen, any contiguous portion of the Premises on any floor of any Tower with respect to which Tenant does not exercise an option to extend (each, a “Non-Extended Space”) (x) shall be not less than 5,000 contiguous rentable square feet on any one floor of any one Tower and (y) shall meet the Window Line Criterion (hereinafter defined) and (z) shall be accessible by a corridor that is consistent with corridor layouts in comparable first class office towers.

Extension of Term Options. 78 81 EXHIBITS Exhibit A -- Land Exhibit B -- Certificate of Occupancy Exhibit C -- Rentable Square Feet Measurement Standard Exhibit D -- Form of Letter of Credit Exhibit E -- Mortgagee SNDA Exhibit F -- Unit Lease SNDA Exhibit G -- Exclusive Use Rights of Other Tenants Exhibit H -- HVAC Specifications Exhibit I -- Building Standards Exhibit J -- Cleaning Specifications Exhibit K -- Form of Guaranty Exhibit L -- Form of Confidentiality Agreement Exhibit M -- Building Systems EXHIBIT A LAND A-1 EXHIBIT B CERTIFICATE OF OCCUPANCY B-1 EXHIBIT C METHOD OF FLOOR MEASUREMENT FOR OFFICE BUILDINGS [REAL ESTATE BOARD OF NEW YORK -- EFFECTIVE JANUARY 1, 1987] Measure the floor to the outside surface of the building. Subtract from this area the following, including the finished enclosing walls: o Public elevator shafts and elevator machines and their enclosing walls. o Public stairs and their enclosing walls. o Heating, ventilating, and air-conditioning facilities (including pipes, ducts and shafts) and their enclosing walls; unless such equipment, mechanical room space, or shafts serve the floor in questions. o Fire towers and fire tower courts and their enclosing walls. o Main telephone equipment rooms and main electric switchgear rooms, except that telephone equipment, and electric switchgear rooms serving the floor exclusively shall not be subtracted. EXHIBIT D FORM OF LETTER OF CREDIT IRREVOCABLE STAND-BY LETTER OF CREDIT BENEFICIARY: APPLICANT: EXPIRATION DATE: AMOUNT: WE HEREBY ISSUE THIS IRREVOCABLE STAND-BY LETTER OF CREDIT IN YOUR FAVOR WHICH IS AVAILABLE TO YOU AGAINST PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [BANK] AND BEARING THE CLAUSE "DRAWN UNDER [BANK] CREDIT NUMBER [____]" ACCOMPANIED BY: BENEFICIARY'S CERTIFICATION THAT (i) AN EVENT OF DEFAULT HAS OCCURRED UNDER THE LEASE DATED _________,2__ BETWEEN BENEFICIARY AS LANDLORD AND APPLICANT AS TENANT, WHICH DEFAULT HAS CONTINUED BEYOND THE EXPIRATION OF ALL APPLICABLE NOTICE AND CURE PERIODS OR (ii) TENANT UNDER SUCH LEASE HAS NOT RENEWED OR REPLACED THIS LETTER OF CREDIT AT LEAST 30 DAYS PRIOR TO ITS STATED EXPIRATION DATE. IT IS A CONDITION OF THIS LETTER THAT IT SHALL BE DEEMED AUTOMATICALLY EXTENDED WITHOUT AN AMENDMENT FOR ONE YEAR FROM THE PRESENT OR ANY FUTURE EXPIRATION DATE HEREOF UNLESS 30 DAYS PRIOR TO ANY SUCH DATE WE SHALL NOTIFY YOU IN WRITING THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL PERIOD. UPON PRESENTATION TO YOU OF SUCH NOTICE, YOU MAY, ...