Common use of Option to Extend and Rent During the Extended Period Clause in Contracts

Option to Extend and Rent During the Extended Period. Tenant shall have one option to extend the Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 2 contracts

Samples: Office Lease, Office Lease (Puma Biotechnology, Inc.)

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Option to Extend and Rent During the Extended Period. Tenant shall have one option to extend the initial Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy nine (2709) daysmonths, but not more than three hundred sixty-five one (3651) days, year prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default under any term or provision of the Lease (following written notice and the expiration of any applicable cure period) on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease (following written notice and the expiration of any applicable cure period) on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (as defined below) (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 2 contracts

Samples: Office Lease (Tobira Therapeutics, Inc.), Office Lease (Tobira Therapeutics, Inc.)

Option to Extend and Rent During the Extended Period. Tenant shall have one option to extend the original Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial original Term of the Lease. If Tenant is in default under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial original Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Base Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Base Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 2 contracts

Samples: Lease Agreement (Miramar Labs, Inc.), Lease Agreement (Miramar Labs, Inc.)

Option to Extend and Rent During the Extended Period. Tenant shall have one (1) option to extend the Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default beyond any applicable cure period under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default beyond any applicable cure period under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Base Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 1 contract

Samples: Office Lease (Biotie Therapies Corp.)

Option to Extend and Rent During the Extended Period. Tenant shall have one (1) option to extend the Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default default, after notice and the expiration of the applicable cure period, under any term or provision of the Lease on the date of giving an the Extension Option Notice, or if Tenant is in default default, after notice and the expiration of the applicable cure period, under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Base Monthly Rent during such the Extension Period shall be one hundred ninety five percent (10095%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend; and (iv) Tenant shall not have any right to terminate the Lease during the Extension Period under Section 2.6 of the Lease.

Appears in 1 contract

Samples: Lease (Barracuda Networks Inc)

Option to Extend and Rent During the Extended Period. Tenant shall have one option two (2) consecutive options to extend the Term of the Lease for a period of five (5) years each (the each such period shall be referred to as the an “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease, or the first Extension Period, as applicable. If Tenant is in default under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term Term, or the first Extension Period, as applicable, shall not apply; and (iii) Tenant shall not have any additional option to extendextend if the second option is exercised.

Appears in 1 contract

Samples: Office Lease (Insweb Corp)

Option to Extend and Rent During the Extended Period. Tenant shall have one (1) option to extend the Lease Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written delivering notice of exercise of such option (“Extension Option Notice”) to Landlord at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the initial Lease Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the LeaseLease Term. If Tenant is in default default, after notice and the expiration of the applicable cure period, under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default default, after notice and the expiration of the applicable cure period, under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Lease Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Base Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Lease Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 1 contract

Samples: Lease (Intevac Inc)

Option to Extend and Rent During the Extended Period. Tenant shall have ---------------------------------------------------- one option to extend the Term term of the Lease for a period of five (5) years (the period shall be referred to as the "Extension Period") by giving written notice of exercise of such option ("Extension Option Notice") at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default (after notice and the expiration of he applicable cure period) under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default (after notice and the expiration of the applicable cure period) under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Termterm. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 1 contract

Samples: Office Lease (Blaze Software Inc)

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Option to Extend and Rent During the Extended Period. Tenant shall have one (1) option (the “Extension Option”) to extend the Term term of the Lease for a period of five three (53) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two one hundred seventy eighty (270120) days, but not more than three two hundred sixty-five seventy (365180) days, prior to the expiration of the Termterm. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term term of the Lease. If Tenant is in default under any term or provision an Event of the Lease Tenant’s Default exists on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Termterm. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Base Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but (ii) Tenant shall not less than have any right or option to extend the Minimum Monthly Rent payable during Lease Term beyond the last month prior to the commencement of the one and only Extension Period, (iiiii) any options or rights to expand will not be applicable, and (iv) any work, allowance, free rent, allowances or concession provided by Landlord provided, granted or available to Tenant at or in connection with the commencement of the initial Lease Term will not apply. The foregoing option to extend is personal to the original Tenant signing the Lease, and shall not apply; and (iii) Tenant shall not have be assigned or transferred by any additional option to extendassignee, sublessee or transferee under a Transfer except for a Permitted Transfer.

Appears in 1 contract

Samples: Lease Addendum (Nassda Corp)

Option to Extend and Rent During the Extended Period. Tenant shall have one option to extend the initial Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) days, but not more than three hundred sixty-five (365) days, but not more one year and ninety days prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default under any term or provision of the Lease (following written notice and the expiration of any applicable cure period) on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease (following written notice and the expiration of any applicable cure period) on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (as defined below) (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extend.

Appears in 1 contract

Samples: Sublease Agreement (Atara Biotherapeutics, Inc.)

Option to Extend and Rent During the Extended Period. Tenant shall have one option to extend the Term of the Lease for a period of five (5) years (the period shall be referred to as the “Extension Period”) by giving written notice of exercise of such option (“Extension Option Notice”) at least two hundred seventy (270) daystwelve full calendar months, but not more than three hundred sixty-five fifteen (36515) daysfull calendar months, prior to the expiration of the Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the Lease. If Tenant is in default under any term or provision of the Lease beyond any applicable notice and cure period on the date of giving an Extension Option Notice, or if Tenant is in default under any term or provision of the Lease beyond any applicable notice and cure period on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; (iii) the Base Year shall be 2030; and (iiiiv) Tenant shall not have any additional option to extend.

Appears in 1 contract

Samples: Office Lease (Quotient Technology Inc.)

Option to Extend and Rent During the Extended Period. Tenant shall have one (1) option to extend the Term term of the Lease for a period of five (5) years (the period shall be referred to as the "Extension Period") by giving written notice of exercise of such option ("Extension Option Notice") at least two one hundred seventy eighty (270180) days, but not more than three hundred sixty-five (365) days, prior to the expiration of the initial Lease Term. The Extension Period shall commence, if at all, immediately following the expiration of the initial Term of the LeaseLease Term. If Tenant is in default (after notice and the expiration of the applicable cure period) under any term or provision of the Lease on the date of giving an Extension Option Notice, or if Tenant is in default (after notice and the expiration of the applicable cure period) under any term or provision of the Lease on the date of the applicable Extension Period is to commence, the Extension Period at the option of Landlord shall not commence and the Lease shall expire at the end of initial Lease Term. The Extension Period shall be upon all of the terms and provisions of the Lease, except that (i) the Minimum Base Monthly Rent during such Extension Period shall be one hundred percent (100%) of then Fair Market Rent. Tenant may not rescind, but not less than the Minimum Monthly Rent payable during the last month prior to the commencement of the cancel, terminate or modify its Extension Period, (ii) any work, allowance, free rent, or concession provided by Landlord in connection with the commencement of the initial Term shall not apply; and (iii) Tenant shall not have any additional option to extendOption Notice once given.

Appears in 1 contract

Samples: Lease (All American Semiconductor Inc)

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