Grant of Extension Option. Subject to the provisions, limitations and conditions set forth in Paragraph 5 below, Tenant shall have an Option (“Option”) to extend the initial term of the Lease for five (5) years (the “Extended Term”).
Grant of Extension Option. Subject to the provisions, limitations and conditions set forth in this Rider, Tenant shall have one (1) option (the “Extension Option”) to extend the initial Lease Term for five (5) years (the “Extension Term”).
Grant of Extension Option. Subject to the terms and conditions set forth in this Paragraph 57, Landlord hereby grants Tenant two (2) successive options (each, an “Extension Option”) to extend the Term of this Lease for an additional period of five (5) years (the “Extension Term”).
(i) An Extension Option may be exercised only by Tenant giving Landlord irrevocable and unconditional written notice (the “Option Notice”) thereof not less than two hundred seventy (270) days or more than three hundred sixty-five (365) days prior to the date on which the Extension Term will commence, the time of such exercise being of the essence. The Option Notice must be given as provided in Paragraph 33 above.
(ii) An Extension Option shall be exercised, if at all, only with respect to the entire Premises.
(iii) Tenant’s possession of the Premises during an Extension Term shall be upon all of the terms and conditions contained in this Lease, except as follows:
(A) The Base Rent payable during the Extension Term shall be the Prevailing Market Rate (as defined below) of the Premises as of the commencement of the Extension Term.
(B) If the second Extension Option is exercised, then there shall be no further extension options.
(C) Tenant shall accept the Premises during an Extension Term in their then existing condition, without any obligation of Landlord to re-paint, re-carpet, remodel, or otherwise alter the Premises, or to provide a tenant improvement allowance.
(D) During an Extension Term, the Base Year respecting the Premises shall be adjusted to the calendar year in which the Extension Term commences.
Grant of Extension Option. Subject to the provisions, limitations and conditions set forth in this Addendum, Tenant shall have one (1) option (“Option”) to extend the initial term of the Lease for a period of three (3) years (the “Extended Term”) upon all of the terms and conditions of the Lease except that Tenant shall have no further option to extend the Term except as set forth herein and the Base Rent for the Extended Term shall be established pursuant to Section 3 below.
Grant of Extension Option. Subject to the provisions of Sections 5 and 6 hereinbelow, if Tenant has not at any time been in default of its obligations beyond applicable cure periods more than three (3) times in any twelve-month period ("Chronic Default"), or at the time of Tenant's exercise of this option, is currently not, in default in the performance of any of its obligations under this Lease beyond applicable cure periods, and contingent upon review and approval of Tenant's then current financial condition by Landlord [which financial condition shall be deemed to be acceptable to Landlord so long as Tenant, at the time of exercise of this option and for the prior twelve month period of time prior to Tenant's exercise of this option, has a net worth of at least One Hundred Million Dollars ($100,000,000.00)], Tenant shall have the right at its option (the "First Option") to extend the initial term of the Lease for an additional period of one (1) year (the "First Extended Term").
Grant of Extension Option. Subject to the provisions of Sections 5 and 6 hereinbelow, if (i) Tenant has not at any time been in Chronic Default, or at the time of Tenant's exercise of this Second Option, is currently not, in default in the performance of any of its obligations under this Lease beyond any applicable cure periods, (ii) Tenant has duly exercised the First Option in accordance with the provisions of Addendum 1 to the Lease, and (iii) contingent upon review and approval of Tenant's then current financial condition by Landlord [which financial condition shall be deemed to be acceptable to Landlord so long as Tenant, at the time of exercise of this option and for the prior twelve month period of time prior to Tenant's exercise of this Second Option, has a net worth of at least One Hundred Million Dollars ($100,000,000.00)], Tenant shall have the right at its option (the "Second Option") to further extend the term of the Lease for an additional one (1) year period (the "Second Extended Term").
Grant of Extension Option. Provided that (i) an Event of Default does not exist as of the commencement of the Extension Term or as of the date of Landlord’s receipt of the Extension Notice (as defined below), and (ii) Tenant has not assigned the Lease or subleased more than twenty-five percent (25%) of the Premises, Tenant shall have the right to extend the Lease Term for one (1) period of five (5) years (the “Extension Term”) by giving Landlord written notice of extension (the “Extension Notice”), which Extension Notice must be received by Landlord not earlier than fifteen (15) months, nor later than twelve (12) months, prior to expiration of the Lease Term. If such extension becomes effective, the Lease Term shall be automatically extended upon the same terms and conditions as are applicable to the current Lease Term, except that (y) Fixed Rent for the Extension Term shall be as set forth in subsection (b) below, and (z) there shall be no further right to extend or renew the Lease Term beyond the Extension Term. The right of extension provided under this Exhibit D is personal to Verastem, Inc. or any Permitted Transferee and is not exercisable by any other subtenant or assignee permitted under the Lease.
Grant of Extension Option. Subject to the provisions, limitations and conditions set forth in Paragraph 5 below, Lessee shall have an Option ("Option") to extend the term of the Lease, as modified in the Amendment, for one (1) year through June 30, 2026 (the "Extended Term").
Grant of Extension Option. Subject to the provisions, limitations and conditions set forth in Paragraph 5 below, Tenant shall have an option (the "Option") to extend the Term of the Lease expiring on September 30, 2007 (the "Initial lease Term") for five (5) years (the "Extended Term").
Grant of Extension Option. Subject to the terms and conditions set forth in this Article 38, and so long as Tenant is occupying at least seventy-five percent (75%) of the Premises, Landlord hereby grants Tenant an option (the “Extension Option”) to extend the Term of this Lease for one additional period of five (5) years commencing immediately following the Extended Expiration Date (the “Second Extension Term”). The Extension Option may be exercised only by Tenant giving Landlord irrevocable and unconditional written notice (the “Option Notice”) thereof not less than nine (9) full calendar months or more than twelve (12) full calendar months prior to the expiration of the Extended Expiration Date, the time of such exercise being of the essence. The Option Notice shall be given as provided in Article 28 hereof.
