Common use of Option to Extend Lease Term Clause in Contracts

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease beyond any applicable notice and cure period, Tenant shall have the option to extend the Initial Term of this Lease for the entire Premises for three (3) additional periods of five (5) years each (the “Renewal Term”) to commence immediately upon the expiration of the Initial Term, the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Titan Corp)

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Option to Extend Lease Term. Provided So long as Tenant is not in default of any term, covenant or condition of under this Lease beyond any applicable notice and cure periodhas not on more than one prior occasion been in default, which default has been cured, Tenant shall have the an option to extend the Initial Lease Term (“Option to Extend”) for a period of this Lease for the entire Premises for three (3) additional periods years for Lease Years 4 through 6 in accordance with the terms of five this Section 2.3 (5) years each (the Renewal Option Term”) ). The Option to commence immediately upon Extend the expiration of Lease Term is personal to the Initial Term, the First Renewal Term Tenant and the Second Renewal Term, as applicableis not transferable or exercisable by any transferee.

Appears in 1 contract

Samples: Subordination, Nondisturbance and Attornment Agreement (NightHawk Radiology Holdings Inc)

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease beyond any applicable notice and cure periodLease, Tenant shall have the option to extend the Initial Term of this Lease for the entire Premises for one (1) additional period of three (3) additional periods of five (5) years each (the "Renewal Term") to commence immediately upon the expiration of the Initial Term, the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Convera Corp)

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease beyond any applicable notice and cure periodLease, Tenant shall have the option to extend the Initial Term of this Lease for the entire Premises for three two (32) additional periods of five (5) years each (the “First Renewal Term”, the “Second Renewal Term” or collectively the “Renewal Terms”) to commence immediately upon the expiration of the Initial Term, Term or the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Osiris Therapeutics, Inc.)

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Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease beyond any applicable notice and cure periodLease, Tenant shall have the option to extend the Initial Term of this Lease for the entire Premises for three one (31) additional periods period of five (5) years each (the "Renewal Term") to commence immediately upon the expiration of the Initial Term, the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Commencement Date Agreement (Dialysis Corp of America)

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