First Extended Term. The annual Base Rent for the First Extended Term, shall be an amount equal to the greater of (1) the Market Rent for the Premises for the First Extended Term and (2) the product of (A) the annual Base Rent in effect on the last day of the Term and (B) the greater of (x) 1.03 and (y) the lesser of (aa) 1.06 and (bb) the average annual percentage increase, if any, in the CPI between August 2014 and the month preceding the commencement of the First Extended Term.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Novartis in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, Novartis may extend the term of this Agreement from the end of the Initial Term until the fourth (4th) anniversary of the Effective Date, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.2 hereof at any time prior to the expiration of the Initial Term. Portions of this Exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
First Extended Term. Landlord and Tenant acknowledge that Txxxxx has exercised its right to extend the Term for the first Extended Term and that the first Extended Term commenced on April 12, 2006.
First Extended Term. Upon the expiration of the Development Term, the term of this Agreement shall automatically extend for an additional twenty-five (25) year term (the “First Extended Term”). Second Extended Term. Provided that Grantee has not fully surrendered or terminated this Agreement, then on or before the expiration of the First Extended Term, Grantee may, at its option, extend the term of this Agreement for an additional twenty-five (25) year period (the “Second Extended Term”, collectively with the Development Term and First Extended Term, the “Term”). Grantee may exercise its option to extend this Agreement for the Second Extended Term by giving Owner written notice thereof on or before the date that is one hundred and eighty (180) days prior to the expiration of the First Extended Term. Additional 25 years is a long time
First Extended Term. In the case of the first Extended Term (i) Tenant shall have only two further options to extend the Term pursuant to Section 43.1, (ii) the Fixed Rent for the first Lease Year of such Extended term shall equal 103% of the Fixed Rent for the immediately prior Lease Year, and (iii) the Fixed Rent for each subsequent Lease Year of the first Extended Term shall increase in accordance with the escalation provisions set forth in Section 3.1.2 of this Lease.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, then Lilly may extend the term of this Agreement from the end of the Initial Term until June 19, 2015, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.1 hereof at any time prior to the expiration of the Initial Term.
First Extended Term. Tenant is hereby given the option to extend the Initial Term for a period of five (5) years (the "First Extended Term") following the expiration of the Initial Term, by giving Landlord written notice of Tenant's exercise of the option ("Option Notice") no later than one hundred eighty (180) days, nor sooner than three hundred sixty (360) days, before expiration of the Initial Term.
First Extended Term. The currently scheduled “Termination Date” of the Lease, as extended pursuant to the First Amendment, is February 15, 2004. The parties now desire to further extend the Term of the Lease, subject to the terms and conditions set forth in the Lease and this Third Amendment, effective as of January 1, 2004, which date precedes the currently scheduled Termination Date by approximately one and one-half months. As such, Paragraph 3 of the First Amendment is hereby amended by advancing the “Termination Date” set forth therein from “February 15, 2004” to “December 31, 2003”.
First Extended Term. Subject to the provisions of paragraph 49.3, Lessee shall have the option to extend the term of this Lease beyond the term specified in paragraph 3.1 (herein referred to as the "Initial Term") for an additional period of five years commencing on the date following the expiration of the Initial Term (herein referred to as the "First Extended Term") by giving notice to Lessor of its election so to extend such term on or prior to March 1, 1997.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, ImmunoGen/Lilly Confidential Portions of the exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
