Common use of Lease Term Extension Option Clause in Contracts

Lease Term Extension Option. (a) Provided no Default or Event of Default shall have occurred and be continuing, Lessee may extend the Lease Term for ***** additional months (“Lease Term Extension”) on the same terms and conditions (except with respect to the amount of Basic Rent as more fully set forth in paragraph (b) below), provided that Lessee shall provide Lessor with irrevocable written notice of its intention to exercise such extension option at least ***** months prior to the Scheduled Termination Date. (b) Basic Rent for the Lease Term Extension shall be in an amount reflecting the fair market rate at the time of extension as agreed between Lessor and Lessee prior to but not later than the time that Lessee exercises its option to extend the Lease Term of the Lease as set forth in paragraph (a) above. If Lessor and Lessee are unable to agree to an amount of Basic Rent for the Lease Term Extension, then Lessee’s option to extend the Lease Term shall lapse. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Lease Term Extension Option. (a) Provided no Default or Event of Default shall have occurred and be continuing, Lessee may extend the Lease Term for ***** up to forty (40) additional months (“Lease Term Extension”) on the same terms and conditions (except with respect to the amount of Basic Rent as more fully set forth in paragraph (b) below), provided that Lessee shall provide Lessor with irrevocable written notice of its intention to exercise such extension option at least ***** months prior to option, as well as the Scheduled Termination Dateproposed term of such extension, on or before the last day of the sixty-sixth (66th) Rent Period. (b) Basic Rent for the Lease Term Extension shall be in an amount reflecting the fair market rate at the time of extension as agreed between Lessor and Lessee prior to but not later than the time that Lessee exercises its option to extend the Lease Term of the Lease as set forth in paragraph (a) above. If Lessor and Lessee are unable to agree to an amount of Basic Rent for the Lease Term Extension, then Lessee’s option to extend the Lease Term shall lapse. ***** Confidential portions of the material have been omitted and filed separately with the Securities and Exchange Commission.

Lease Term Extension Option. (a) Provided no Default or Event of Default shall have occurred and be continuing, Lessee may extend the Lease Term for ***** up to forty (40) additional months (“Lease Term Extension”) on the same terms and conditions (except with respect to the amount of Basic Rent as more fully set forth in paragraph (b) below), provided that Lessee shall provide Lessor with irrevocable written notice of its intention to exercise such extension option at least ***** months prior to option, as well as the Scheduled Termination Dateproposed term of such extension, on or before the last day of the sixty-sixth (66th) Rent Period. (b) Basic Rent for the Lease Term Extension shall be in an amount reflecting the fair market rate at the time of extension as agreed between Lessor and Lessee prior to but not later than the time that Lessee exercises its option to extend the Lease Term of the Lease as set forth in paragraph (a) above. If Lessor and Lessee are unable to agree to an amount of Basic Rent for the Lease Term Extension, then Lessee’s option to extend the Lease Term shall lapse. 1. ***** Confidential portions Calculation of the material have been omitted and filed separately with the Securities and Exchange Commission.Rent