Common use of LESSEE’S OPTION TO EXTEND Clause in Contracts

LESSEE’S OPTION TO EXTEND. Lessee, provided it is not then in default after notice and the expiration of any applicable grace or cure periods, and further provided it shall not have defaulted beyond any applicable notice, grace and cure periods more than twice within any twelve (12) months period, shall have the option to further extend the Term of this Lease as to the Leased Premises (i.e. inclusive of the Expansion Space and any additional space taken on by Lessee under Section 36 and under Section 8 of this First Amendment, but only as to the entirety of said Leased Premises and additional space taken, which shall be deemed included in the definition of Leased Premises as and when taken) on the terms and conditions herein, for one additional period of twenty four (24) months (herein, the “Second Extension Period”), at the then current “Market Rent” (including annual escalations thereon for each year of the extended term based on increases in the Consumer Price Index or fixed increases, as the case may be, as determined by then prevailing market forces), but no less than an amount equal to the Annual Base Rent per rentable square foot of highest rent for Leased Premises space during the final Lease Year hereunder (the “Extension Rent Floor”). Said Second Extension Period shall commence, subject to proper exercise of Lessee’s option hereunder, at the end of the First Extension Termination Date and shall terminate on that date which is twenty four (24) consecutive months thereafter. Lessee shall exercise its option by delivering to Lessor its written notice not later than nine (9) full months (but not sooner than fifteen (15) full months, unless exercised earlier than said fifteen (15) months (in order to exercise its ROFO rights under the Lease) prior to the end of the First Extended Term. Once delivered, written notice to extend is irrevocable.

LESSEE’S OPTION TO EXTEND. Lessee, provided it is Provided Lessee has not then in default defaulted (after notice and the expiration of any applicable grace or cure periods, and further provided it shall not have defaulted beyond any applicable notice, grace and cure periods periods, if any) under the Lease from the date hereof forward more than twice within any twelve two (122) months periodtimes, and further provided no uncured default on the part of Lessee is then existing, Lessee shall have the option to further extend the Term of this Lease as to the Total Leased Premises (i.e. inclusive of the Expansion Space and any additional space taken on by Lessee under Section 36 and under Section 8 of this First Amendment, but only as to the entirety of said Leased Premises and additional space taken, which shall be deemed included in the definition of Leased Premises as and when takenSpace) on the terms and conditions herein, for one additional period of twenty four thirty six (2436) months (herein, the “Second Additional Term Extension Period”), ) at the then current “Market Rent” (including annual escalations thereon for each year of the extended term based on increases in the Consumer Price Index or fixed increases, as the case may be, as determined by then prevailing market forces), but no less than an amount equal to the Annual Base annualized Rent per rentable square foot of highest rent for Total Leased Premises space during as of the final full month of the last Lease Year hereunder (the “Extension Rent Floor”). Said Second Additional Term Extension Period shall commence, subject to proper exercise of Lessee’s option hereunder, at the end of the First Extension Termination Date Extended Term (i.e. at the end of March, 2015) and shall terminate on that date which is twenty four thirty six (2436) consecutive months thereafterthereafter (i.e. March 31, 2018). Lessee shall exercise its option by delivering to Lessor its written notice not later than nine ten (910) full months (but not sooner than fifteen twelve (1512) full months, unless exercised earlier than said fifteen (15) months (in order to exercise its ROFO rights under the Lease) prior to the end of the First Extended Term. Once delivered, written notice to extend is irrevocable.