Lease Extension Option. (a) LESSEE may elect to extend the Term of this Lease until December 31, 2012 provided that the Ruby Street Lease is extended pursuant to Section 3.2 of that lease.
(b) For any extension, the base rent shall be the base rent of the immediately preceding lease year plus three percent (3%).
Lease Extension Option. So long as no Default or Event of Default has occurred and is continuing hereunder on the date of exercise of the option, LESSEE will have two (2) options to extend the term of the Lease for a period of one (1) year each from the then-existing Expiration Date (the “Extension Lease Term”). In order to exercise an option, LESSEE must give written notice to LESSOR not less than ten (10) months prior to the then-existing Expiration Date of this Lease. Any notice given by LESSEE in accordance herewith will be irrevocable.
Lease Extension Option. (a) LESSEE shall have the right and option to renew and extend the Term of this Lease until December 31, 2012 if LESSEE has not obtained the necessary regulatory approvals from the European Medicines Evaluation Agency to manufacture the Product (as defined in the Manufacturing Agreement) in at least two facilities (not including the Grand Island facility) by June 30, 2011. In order to exercise this option, LESSEE shall provide at least three (3) months notice to LESSOR of its intention to renew and extend the Term.
(b) For any extension, the base rent shall be the base rent of the immediately preceding lease year plus three percent (3%).
Lease Extension Option. Throughout the Lease Term and providing there have been no events of default during the Lease Term among the Related Aircraft, Lessee shall have the option, but not the obligation, to extend the Lease Term of any Aircraft individually by providing at least one hundred and eighty (180) days’ prior written notice to Lessor. Any such extension shall consist of a minimum of an additional twelve (12) months (an “Extension Term”). The terms and conditions of the Lease Agreements shall remain the same throughout the duration of the Extension Term.
Lease Extension Option. (a) Tenant, being not in default in the keeping and performing of any of the conditions and covenants of this Lease, shall have the option and privilege of an extended term hereof for an additional twenty-five (25) years (the “Extended Term”), commencing at midnight on the day on which the Initial Term of this Lease terminates.
(b) Tenant shall provide Landlord with notice of its intent to extend the term of this Lease no less than ninety (90) days prior to the end of the Initial Term. As used herein “Term” shall mean individually, the Initial Term and the Extended Term, and collectively, both of such terms.
Lease Extension Option. Lease extension options of each
Lease Extension Option. 12 4.3 "Lease Term" and "Expiration Date"...............................12 4.4 "Termination Date"...............................................12
Lease Extension Option. One (1) Lease extension option of seven (7) months
Lease Extension Option. 4.2.1 So long as no payment Default or Event of Default has occurred and is continuing hereunder on the date of exercise of the option or on the commencement date of the extension lease term with respect to such option, LESSEE will have one (1) option to extend the term of the Lease for a period of nine (9) months (the "Extension Lease Term").
4.2.2 In order to exercise its option, LESSEE must give written notice to LESSOR not less than nine (9) months prior to the then existing Expiration Date of this Lease. Any notice given by LESSEE in accordance herewith will be irrevocable.
Lease Extension Option. Tenant shall have one 5-year option to extend the --- lease at market rates provided Tenant is not in default under the terms of this Agreement. If the option is exercised, the monthly rent shall be the current fair market rent for the Premises at the commencement of the extended term, as agreed by the parties. If the parties do not agree within thirty (30) days prior to commencement of the option, the fair market rent shall be determined by three mutually acceptable appraisers selected and governed by the Rules of the American Arbitration Association. All other terms and conditions in this Lease shall continue to apply during the option term.
