Common use of Grant of Option; Conditions Clause in Contracts

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Second Extended Termination Date and ending on the 5th anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier than May 31, 2021 and not later than August 31, 2021; and B. Tenant is not in Default under the Lease, as amended, beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. No more than 50% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice; D. The Lease has not been assigned (other than pursuant to a Permitted Transfer) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. a. Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 9 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202112 full calendar months prior to the expiration of the initial Term; and B. b. Tenant is not in Default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. No c. Not more than 50% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Section 11 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. d. The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Section 11 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. 1. Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 12 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202115 full calendar months prior to the expiration of the initial Term; and B. 2. Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. 3. No more than 50% part of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Article XII of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. 4. The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Article XII of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 3 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th 3rd anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. (i) Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 6 full calendar months prior to the expiration of the initial Term and not later more than August 31, 20219 full calendar months prior to the expiration of the initial Term; and B. (ii) Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. (iii) No more than 50% part of the Premises is sublet (other than pursuant to a Permitted Business Transfer, as defined in Section 11 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. (iv) The Lease has not been assigned (other than pursuant to a Permitted Business Transfer, as defined in Section 11 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. (a) Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 12 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202115 full calendar months prior to the expiration of the initial Term; and B. (b) Tenant is not in Default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. No (c) Not more than 50% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Section 11.04 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. (d) The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in 11.04 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 3 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th 3rd anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. (a) Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 9 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202112 full calendar months prior to the expiration of the initial Term; and B. (b) Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. (c) No more than 5020% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Section 11 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. (d) The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Section 11 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Lease Term (the “"Renewal Option”") for one additional period of 5 years commencing on the day following the Second Extended Third Termination Date of the Third Extended Term and ending on the 5th anniversary of the Second Extended Third Termination Date (the “"Renewal Term”"), if: A. a. Landlord receives notice of exercise (“"Initial Renewal Notice”") not earlier less than May 31, 2021 6 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202112 full calendar months prior to the expiration of the Third Extended Term; and B. b. Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. c. No more than 5025% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. d. The Lease has not been assigned (other than pursuant to a Permitted Transferexcluding permitted transfers) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 five (5) years commencing on the day following the Second Extended Termination Expiration Date of the initial Term and ending on the 5th anniversary of the Second Extended Termination Expiration Date (the “Renewal Term”), if: A. a. Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 nine (9) full calendar months prior to the expiration of the initial Term and not later more than August 31, 2021twelve (12) full calendar months prior to the expiration of the initial Term; and B. b. Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. c. No more than 50% of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Section 14.8 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. d. The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Section 14.8 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice; and e. Tenant (or other entity in connection with a Permitted Transfer) is occupying at least 50% of the Premises at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Extended Term (the “Second Renewal Option”) for one an additional period of 5 years commencing on the day following the Second Extended Termination Date March 1, 2013 and ending on the 5th anniversary of the Second Extended Termination Date February 28, 2018 (the “Second Renewal Term”), if: A. (a) Landlord receives notice of exercise (“Second Renewal Initial Renewal Notice”) not later than February 28, 2012, and not earlier than May 31December 1, 2021 and not later than August 31, 20212011; and B. (b) Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Second Renewal Initial Renewal Notice or at the time Tenant delivers its Second Renewal Binding Notice (as defined below); and C. No (c) Not more than 5020% of the rentable square footage of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Article 11 of the Lease) at the time that Tenant delivers its Second Renewal Initial Renewal Notice or at the time Tenant delivers its Second Renewal Binding Notice;Notices; and D. (d) The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Article 11 of the Lease) prior to the date that Tenant delivers its Second Renewal Initial Renewal Notice or prior to the date Tenant delivers its Second Renewal Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”"RENEWAL OPTION") for one additional period of 5 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th anniversary of the Second Extended Termination Date (the “Renewal Term”"RENEWAL TERM"), if: A. (1) Landlord receives notice of exercise (“Initial Renewal Notice”"INITIAL RENEWAL NOTICE") not earlier less than May 31, 2021 12 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202115 full calendar months prior to the expiration of the initial Term; and B. (2) Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable notice and cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. (3) No more than 50% part of the Premises is sublet (other than pursuant to a Permitted TransferTransfer or Ownership Change, as defined in Section 11.04 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. (4) The Lease has not been assigned (other than pursuant to a Permitted TransferTransfer or Ownership Change, as defined in Section 11.04 of the Lease) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.

Grant of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 3 years commencing on the day following the Second Extended Termination Date of the initial Term and ending on the 5th third anniversary of the Second Extended Termination Date (the “Renewal Term”), if: A. (a) Landlord receives notice of exercise (“Initial Renewal Notice”) not earlier less than May 31, 2021 8 full calendar months prior to the expiration of the initial Term and not later more than August 31, 202112 full calendar months prior to the expiration of the initial Term; and B. (b) Tenant is not in Default default under the Lease, as amended, Lease beyond any applicable cure periods at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice (as defined below); and C. No (c) Not more than 50% of the Rentable Square Footage of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Section 11 of the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice;; and D. (d) The Lease has not been assigned (other than pursuant to a Permitted Transfer) prior to the date that Tenant delivers its Initial Renewal Notice or prior to the date Tenant delivers its Binding Notice.