Common use of Loss of Option to Extend Right Clause in Contracts

Loss of Option to Extend Right. Pursuant to the terms herein, it is agreed that (1) if Tenant is at any time during the preceding twelve (12) months prior to exercising its First Option to Extend in monetary default or in material non-monetary default of this Lease and/or, if applicable, the Building 6 Lease and/or the Option Lease (as defined in Paragraph 47 (“Option to Lease Adjacent Property”) below) and has failed to cure the default in the time period allowed, this Option to Extend is automatically forfeited by Tenant (without notice from Landlord) and Tenant shall have no further Option to Extend this Lease; or (2) if Tenant is subsequently in monetary default or in material non-monetary default at any time prior to the commencement of the Extended Term and, in the event of either (1) or (2) above, has failed to cure the (a) monetary default within ten (10) days from the date of written notice from Landlord, or (b) material non-monetary default within the period allowed, Landlord may at its sole and absolute discretion, cancel and rescind Tenant’s Option to Extend, and unless said Lease is also terminated due to said uncured default, this Lease will continue in full force and effect for the full remaining Term hereof, absent of this Paragraph 46 (A and B).

Loss of Option to Extend Right. Pursuant to the terms herein, it is agreed that (1) if Tenant is at any time during the preceding twelve (12) months prior to exercising its First Second Option to Extend in monetary default or if in material non-monetary default of this Lease and/or, if applicable, the Building 6 Lease and/or the Option Lease (or Option Leases, as defined in Paragraph 47 (“Option to Lease Adjacent Property”) below) the case may be, and has failed to cure the default in the time period allowed, this Second Option to Extend is automatically forfeited by Tenant (without notice from Landlord) and Tenant shall have no further Option to Extend this Lease; or (2) if Tenant is subsequently in monetary default or in material non-monetary default at any time prior to the commencement of the Second Extended Term and, in the event of either (1) or (2) above, has failed to cure the (a) monetary default within ten (10) days from the date of written notice from Landlord, or (b) material non-monetary default within the period allowed, Landlord may at its sole and absolute discretion, cancel and rescind Tenant’s Second Option to Extend, and unless said Lease is also terminated due to said uncured default, this Lease will continue in full force and effect for the full remaining Term hereof, absent of this Paragraph 46 (A and B).46. Initial: DWD/JA

Loss of Option to Extend Right. Pursuant to the terms herein, it It is agreed that (1) if Tenant is at any the time during the preceding twelve (12) months prior to exercising it exercises its First Initial: JDK Option to Extend in monetary default of this Lease or in a material non-monetary default of this as provided for in Lease and/or, if applicable, the Building 6 Lease and/or the Option Lease (as defined in Paragraph 47 Paragraphs 19 and 43 (“Option to Lease Adjacent PropertyBankruptcy and Default”) below) and has failed to cure the default in the time cure period allowedprovided for under this Lease following Tenant’s receipt of notice from Landlord, this Option to Extend is automatically forfeited by Tenant (without notice from Landlord) and ). In the event said Option to Extend is forfeited as stated herein, Tenant shall have no further Option to Extend this Lease; or (2) . It is further agreed that if Tenant has exercised its Option to Extend and is subsequently in monetary default prior to, or in material non-monetary default at any time prior to the commencement of the Extended Term and, in the event of either (1) or (2) above, and has failed to cure the (a) monetary default within ten five (105) days from the date of written notice from Landlord, or (b) material non-monetary default within the cure period allowedprovided for under this Lease, Landlord may at its sole and absolute discretion, cancel and rescind Tenant’s Option to Extend, and and, unless said Lease is also terminated due to said uncured default, this Lease will continue in full force and effect for the full remaining Term hereof, absent of this Paragraph 46 (A and B)19.