Common use of Grant of Option; Conditions Clause in Contracts

Grant of Option; Conditions. Tenant shall have the right (the “Extension Option”) to extend the Term for one additional period of three (3) years commencing on the day following the Expiration Date and ending on the third anniversary of the Expiration Date (the “Extension Term”), if: A. Not less than 9 and not more than 12 full calendar months before the Expiration Date, Tenant delivers written notice to Landlord (the “Extension Notice”) electing to exercise the Extension Option and stating Tenant’s estimate of the Prevailing Market (defined in Section 3.5 below) rate for the Extension Term; B. Tenant is not in default under the Lease beyond any applicable cure period when Tenant delivers the Extension Notice; C. No part of the Premises is sublet when Tenant delivers the Extension Notice; and D. The Lease has not been assigned (other than pursuant to a Permitted Transfer) before Tenant delivers the Extension Notice.

Grant of Option; Conditions. Tenant (including, without limitation, any person or entity becoming a Tenant hereunder in accordance with Section 14.8 of the Lease) shall have the right (the “Extension Option”) to extend the Term of the Lease for one additional period of three one (31) years year commencing on the day following the Expiration Date and ending on the third first anniversary of the Expiration Date (the “Extension Term”), if: A. Not less than 9 and not more than 12 full calendar months before the Expiration Date, Tenant delivers written notice to Landlord (the “Extension Notice”) electing to exercise the Extension Option and stating Tenant’s estimate of the Prevailing Market (defined in Section 3.5 below) rate for the Premises for the Extension Term; B. Tenant is not in default under the Lease beyond any applicable cure period when Tenant delivers the Extension Notice; C. No part more than 50% of the Premises is sublet when Tenant delivers the Extension NoticeNotice (excluding any Permitted Transfer); and D. The Lease has not been assigned (other than pursuant to a Permitted Transfer) before Tenant delivers the Extension Notice.

Grant of Option; Conditions. Tenant shall have the right (the “Second Extension Option”) to extend the Term term of the Lease for one additional period of three one (31) years year commencing on the day following the Expiration Date expiration of the Extension Term (if any) and ending on the third first anniversary of the Expiration Date thereof (the “Second Extension Term”), if: A. Not less than 9 6 and not more than 12 full calendar months before the Expiration Dateexpiration date of the Extension Term (if any), Tenant delivers written notice to Landlord (for purposes hereof, the “Second Extension Notice”) electing to exercise the Second Extension Option and stating Tenant’s estimate of the Prevailing Market (defined in Section 3.5 below) rate for the Extension TermOption; B. Tenant is not in default under the Lease beyond any applicable cure period when Tenant delivers the Second Extension Notice; C. No part of the Premises is sublet (other than pursuant to a Permitted Transfer) when Tenant delivers the Second Extension Notice; and D. The Lease has not been assigned (other than pursuant to a Permitted Transfer) before Tenant delivers the Second Extension Notice.