Common use of FIRST OPTION TO EXTEND Clause in Contracts

FIRST OPTION TO EXTEND. On or before one hundred twenty (120) days prior to the expiration of the term, 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 “First Extension Period”). The maximum term of the Lease with one extension is forty-four and one-half (44 1/2) years.

Appears in 2 contracts

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

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FIRST OPTION TO EXTEND. On or before one hundred twenty twenty-four (12024) days calendar months prior to the expiration of the term, and providing Tenant is not in default of this LeaseInitial Term, Tenant may shall have the right to extend the term Term of this Lease for an additional one hundred and twenty sixty-six (12066) months by notifying Landlord of such intention in writing (the “First Extension Period”). The maximum term Term of the this Lease with one extension the First Extension Period is forty-four and one-half forty (44 1/240) years.

Appears in 1 contract

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

FIRST OPTION TO EXTEND. On or before one hundred twenty and eighty (120180) days prior to the expiration of the termPrimary Term, and providing Tenant is not provided there are no material uncured Events of Default (as defined in default of this Section 17) existing under the 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 “First Extension Period”). The maximum term of the Lease with one extension is fortytwenty-four and one-half five (44 1/225) years.

Appears in 1 contract

Samples: Lease Agreement (Franklin Covey Co)

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FIRST OPTION TO EXTEND. On or before one hundred twenty (120) days prior to the expiration of the term, 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 sixty (12060) months by notifying Landlord of such intention in writing (the “First Extension Period”). The maximum term of the Lease with one extension is fortythirty-four nine and one-half (44 1/239½) years.

Appears in 1 contract

Samples: Palace Entertainment Holdings, Inc.

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