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 3 years commencing on July 1, 2008 and ending on June 30, 2011 (the “Renewal Term”), if: (a) Landlord receives notice of exercise (“Initial Renewal Notice”) not later than June 30, 2007, and not earlier than April 1, 2007; and (b) Tenant is not in default under the 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 part 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 Initial Renewal Notice or at the time Tenant delivers its Binding Notice; and (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 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 (1) additional period of 3 five (5) years commencing on July 1, 2008 and ending on June 30, 2011 (the “Renewal Term”), if: (a) Landlord receives notice of exercise (“Initial Renewal Notice”) not later less than June 30, 2007, and not earlier than April 1, 2007twelve (12) full calendar months prior to the expiration of the initial Term; and (b) Tenant is not in default Default under the 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 part of the Premises is sublet (other than pursuant to a Permitted Transfer, as defined in Article 11 of permitted under the Lease) at the time that Tenant delivers its Initial Renewal Notice or at the time Tenant delivers its Binding Notice; and (d) The Lease has not been assigned (other than pursuant to a Permitted Transfer, as defined in Article 11 of permitted under 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 term of the Lease (the “Renewal Option”) for one additional period of 3 5 years commencing on July 1, 2008 the day following the Extended Termination Date and ending on June 30, 2011 the 5th anniversary of the Extended Termination Date (the “Renewal Term”), if: (a) A. Landlord receives notice of exercise (“Initial Renewal Notice”) not later than June 30March 31, 2007, 2014 and not earlier than April October 1, 20072013; and (b) B. Tenant is not in default under the 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 part more than 20,000 rentable square feet 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 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 Article 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 (1) additional period of 3 five (5) years commencing on July 1, 2008 and ending on June 30, 2011 (the “Renewal Term”), commencing on the day following the Third Extended Termination Date, and ending on the fifth (5th) anniversary thereafter. Such Renewal Option shall be personal to Tenant and any transferee pursuant to a Permitted Transfer (as defined in Paragraph 21.5 of the Original Lease) and shall be exercisable if: (ai) Landlord receives notice of exercise (a “Initial Renewal Notice”) not later less than June 30, 2007, six (6) full calendar months prior to the Applicable Expiration Date and not earlier more than April 1, 2007twelve (12) full calendar months prior to the Third Extended Termination Date; and (bii) Tenant is not in default under the Lease Lease, as amended hereby, 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 (ciii) No part Tenant is operating in the Leased Premises and no more than twenty-five percent (25%) of the Leased 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 Initial Renewal Notice or at the time Tenant delivers its Binding Notice; and (div) The the Lease has not been assigned (other than pursuant to except in connection with a Permitted Transfer, as defined in Article 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.