Common use of Fifth Option to Extend Clause in Contracts

Fifth Option to Extend. On or before one hundred twenty (120) days prior to the expiration of the Fourth Extension Period, and providing Tenant is not in default of this Lease, Tenant may extend the term of this Lease for an additional one hundred and twenty (120) months by notifying Landlord of such intention in writing (the “Fourth Extension Period”). The maximum term of the Lease with the third extension is eighty-four and one-half (84 1/2) years.

Appears in 2 contracts

Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.), Commercial Ground Lease (Palace Entertainment Holdings, Inc.)

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Fifth Option to Extend. On or before one hundred twenty and eighty (120180) days prior to the expiration of the Fourth Extension Period, and providing Tenant is not in default provided there are no material uncured Events of this Default existing under the extended Lease, Tenant may extend the term of this Lease for an additional one hundred and twenty five (1205) months years by notifying Landlord of such intention in writing (the Fourth Fifth Extension Period”). The maximum term of the Lease with the third extension five extensions is eightyforty-four and one-half five (84 1/245) years.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement (Franklin Covey Co)

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Fifth Option to Extend. On or before one hundred twenty (120) days prior to the expiration of the Fourth Extension Period, and providing Tenant is not in default of this Lease, Tenant may extend the term of this Lease for an additional one hundred and twenty (120) months by notifying Landlord of such intention in writing (the “Fourth Fifth Extension Period”). The maximum term of the Lease with the third extension Fifth Extension is eighty-four and one-half (84 1/2841/2) years.

Appears in 1 contract

Samples: Commercial Ground Lease (Palace Entertainment Holdings, Inc.)

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