Common use of Further Extension Rights Clause in Contracts

Further Extension Rights. Subject to the terms and conditions set forth in this Article 1, Lessor grants to Lessee the continuing right to extend the Term of the Lease (the “Extension Right”) for as many times as desired prior to the Extension Right Expiration Date defined below, each time for a number of calendar months (calculated from the first (1st) day of a calendar month through the last day of such month) of Lessee’s choosing (the “Extension Term”) that, when combined with the then-remaining Term of the Lease, results in no more than a total Term of fifty-one (51) years (or 612 months) as of the date of the extension, either by actual fact or by rounding, as described in Section 1.4 below. In no event shall the final Lease Expiration Date of this Lease be later than February 28, 2102. The Extension Right is subject to Section 2.8 of this Amendment and is contingent upon (a) Lessee’s compliance with the requirements of Article 2 of this Amendment, and (b) Lessee not being in default of its obligations under the Lease as of the date Lessee delivers the Extension Notice described in Section 1.3(b) or at any time prior to the Extension Fee Payment Date (as defined in Section 1.4).

Further Extension Rights. Subject to the terms and conditions set forth in this Article 1, Lessor grants to Lessee the continuing right to extend the Term of the Lease (the “Extension Right”) for as many times as desired prior to the Extension Right Expiration Date defined below, each time for a number of calendar months (calculated from the first (1st) day of a calendar month through the last day of such month) of Lessee’s choosing (the “Extension Term”) that, when combined with the then-remaining Term of the Lease, results in no more than a total Term of fifty-one (51) years (or 612 months) as of the date of the extension, either by actual fact or by rounding, as described in Section 1.4 below. In no event shall the final Lease Expiration Date of this Lease be later than February 28April 30, 21022109. The Extension Right is subject to Section 2.8 of this Amendment and is contingent upon (a) Lessee’s compliance with the requirements of Article 2 of this Amendment, and (b) Lessee not being in default of its obligations under the Lease as of the date Lessee delivers the Extension Notice described in Section 1.3(b) or at any time prior to the Extension Fee Payment Date (as defined in Section 1.4).