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.
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. 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. 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. The term of this Agreement, as amended, is extended for one year commencing on July 1, 2024, and ending June 30, 2025 (“First Extended Term”) unless sooner terminated under any provision hereof.
First Extended Term. Lessor and Lessee agree that the Term of the Lease which expired January 31, 2007 shall be extended for ninety-five (95) months (the “First Extended Term”), commencing as of February 1, 2007 (the “Extended Term Commencement Date”) and expiring on December 31, 2014, unless sooner terminated pursuant to the terms of the Lease. Lessee shall have the right to extend the First Extended Term for one (1) remaining additional and consecutive period of five (5) years upon written notice to Lessor delivered not more than twelve (12) months, and not less than nine (9) months, prior to the First Extended Term expiration date and otherwise upon the terms and conditions as set forth in Paragraph 18 of the Addendum to Lease dated November 26, 1996.
First Extended Term. The first Extended Term, if exercised by Tenant, shall commence upon the expiration of the primary 5-year term of this Lease and shall expire on the date that is three (3) years after such date. Tenant must exercise its right to extend the Term for the first Extended Term, if at all, by written notice to Landlord given not later than the date that is ninety (90) days prior to the expiration date of the primary 5-year term of this Lease. All of the terms and conditions of the Lease shall remain in full force and effect during the first Extended Term, except for the amount of Base Rent, which shall be the Market Rate (as defined below).
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
1.1 Notice of renewal should be at least three years prior to give owner time to make sure decommission is in order.
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. The Term of the Lease is hereby extended for a period of twelve (12) months (“First Extended Term”) commencing on May 1, 2009, and ending on April 30, 2010 (the “Expiration Date”). The First Extended Term shall be upon all of the agreements, terms, covenants and conditions of the Existing Lease binding upon Tenant, as the same are modified by this Amendment. Upon execution and delivery of this Amendment (i) the First 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”, to the “Term”, the “term of the Lease” or any similar expression shall be deemed to include the First Extended Term; (iii) Tenant shall occupy the Premises in its “AS-IS” condition during the First Extended Term, and Landlord will not be required to perform any improvements to the Premises to prepare it for Tenant’s continued occupancy during the First Extended Term, nor will Landlord be required to provide Tenant with any allowance for the performance of such improvements; and (iv) the Term shall end on the Expiration Date unless earlier terminated pursuant to the terms and conditions hereof. Tenant will pay Base Rent during the First Extended Term in accordance with Section 1 of the Lease at the rate of $13,750.00 per month.
