Common use of Option Exercised Clause in Contracts

Option Exercised. Upon exercise by Lessee of the Lease Term Option, but without prejudice to all the other terms and conditions of this Agreement (including, without limitation, Lessee's obligation to fulfil the conditions contained in Clause 4.5(a)) which shall remain in full force and effect, the definition of "Expiry Date" contained in Clause 1 of this Agreement shall be deemed to be amended such that the words "Subject to any amendment pursuant to Clause 4.5(b), the day preceding the numerically corresponding day 24 months after the Delivery Date" shall be replaced with the words "the day preceding the numerically corresponding day twenty-two (22) or twenty-six months after the Delivery Date subject in all cases to the term identified in the Option Notice".