Exercise and Duration of Warrants This Warrant shall be exercisable by the registered Holder at any time and from time to time on or after the Original Issue Date through and including the Expiration Date. At 6:30 p.m., New York City time on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value. The Company may not call or redeem any portion of this Warrant without the prior written consent of the affected Holder.
Options to Extend Landlord does hereby grant to Assignee under that certain Agreement for Assignment and Assumption of Lease and Termination of Shared Facilities Agreement dated effective March 1, 2007 (the “Assignment”) the right, privilege, and option to extend this Lease (each an “Extension Option”) for three (3) periods of five (5) years each (each an “Extension Term”) from the date of expiration of the initial Term hereof or the prior Extension Term, as applicable, upon the same terms and conditions as herein contained, except as to “Base Rent”, which shall be determined in accordance with the following paragraphs, and except that a Security Deposit shall be required, which shall be determined in accordance with the following paragraphs. In the event Assignee desires to exercise its option to extend this Lease, then at least eighteen (18) months prior to the expiration of the initial Term or the applicable Extension Term, Assignee shall give Landlord a written notice binding upon Assignee and Landlord (the “Extension Notice”), exercising an Extension Option. If Assignee exercises an Extension Option in the manner set forth herein Landlord and Assignee shall promptly execute and deliver an amendment to the Lease. In the event that Assignee fails to give an Extension Notice, as set forth herein, then Assignee’s right to extend this Lease shall terminate and be of no further force and effect. The Extension Options hereunder may be exercised only by Assignee under the Assignment. Assignor may not exercise the Extension Options. If the first Extension Option is exercised by Assignee, Assignor shall be released from all liabilities arising under this Lease after the commencement of the first Extension Term. No Extension Option may be exercised or be assigned, voluntarily or involuntarily, by or to any person or entity other than the Assignee or a party to which the Lease is transferred that would qualify as a Permitted Transfer in Section 17(b) of the SBRI Lease. Further, the Extension Options herein granted to Assignee are not assignable separate and apart from this Lease.