Common use of Option to Extend Lease Term Clause in Contracts

Option to Extend Lease Term. A) Tenant may, at Tenant’s option, extend the Initial Term of this Lease for one (1) additional period of three (3) years (the “Renewal Term”), subject to all the provisions of this Lease. The Renewal Term shall commence at the expiration of the Initial Term, and shall terminate on the third (3rd) anniversary of the date of commencement of the Renewal Term, unless sooner terminated as provided herein. B) Failure to duly exercise the option for the Renewal Term shall nullify the option. C) Tenant’s right to the option to extend the Lease Term and Tenant’s rights to the Renewal Term are subject to: (1) This Lease being in full force and effect on the last day of the Initial Term. (2) Compliance with the following procedure for exercising the option in question: (a) At least nine (9) months before the last day of the Initial Term, Tenant shall give Landlord written notice exercising the option. (b) Each party shall, at the request of the other, execute a memorandum acknowledging the fact that the option in question has been exercised. If the option is properly exercised by Tenant, the failure of Landlord to execute such memorandum shall not invalidate such option or the exercise thereof. (3) Tenant is not in default at time of the exercise of the renewal and at the commencement of the renewal term.

Option to Extend Lease Term. A) Tenant may, at Tenant’s option, extend the Initial Term of this Lease for one (1) for*** additional period of three (3) years of*** (the “Renewal Term”), subject to all the provisions of this Lease. The Renewal Term shall commence at the expiration of the Initial Term, and shall terminate on the third (3rd) anniversary the*** of the date of commencement of the Renewal Term, unless sooner terminated as provided herein. B) Failure to duly exercise the option for the Renewal Term shall nullify the option. C) Tenant’s right to the option to extend the Lease Term and Tenant’s rights to the Renewal Term are subject to: (1) This Lease being in full force and effect on the last day of the Initial Term. (2) Compliance with the following procedure for exercising the option in question: (a) At least nine (9) months before the last day of the Initial Term, Tenant shall give Landlord written notice exercising the option. (b) Each party shall, at the request of the other, execute a memorandum acknowledging the fact that the option in question has been exercised. If the option is properly exercised by Tenant, the failure of Landlord to execute such memorandum shall not invalidate such option or the exercise thereof. (3) Tenant is not in default at time of the exercise of the renewal and at the commencement of the renewal term.

Option to Extend Lease Term. A) Tenant may, at Tenant’s option, extend the Initial Term of this Lease for one (1) additional period of three two (32) years (the “Renewal Term”), subject to all the provisions of this Lease. The Renewal Term shall commence at the expiration of the Initial Term, and shall terminate on the third second (3rd2nd) anniversary of the date of commencement of the Renewal Term, unless sooner terminated as provided herein. B) Failure to duly exercise the option for the Renewal Term shall nullify the option. C) Tenant’s right to the option to extend the Lease Term and Tenant’s rights to the Renewal Term are subject to: (1) This Lease being in full force and effect on the last day of the Initial Term. (2) Compliance with the following procedure for exercising the option in questionoption: (a) At least nine (9) months before the last day of the Initial Term, Tenant shall give Landlord written notice exercising the option. (b) Each party shall, at the request of the other, execute a memorandum acknowledging the fact that the option in question has been exercised. If the option is properly exercised by Tenant, the failure of Landlord to execute such memorandum shall not invalidate such option or the exercise thereof. (3) Tenant is not in default at time of the exercise of the renewal and at the commencement of the renewal termRenewal Term.

Option to Extend Lease Term. A) Tenant may, at Tenant’s option, extend the Initial Term of this Lease for one (1) for*** additional period of three (3) years of*** (the “Renewal Term”), subject to all the provisions of this Lease. The Renewal Term shall commence at the expiration of the Initial Term, and shall terminate on the third (3rd) anniversary *** of the date of commencement of the Renewal Term, unless sooner terminated as provided herein. B) Failure to duly exercise the option for the Renewal Term shall nullify the option. C) Tenant’s right to the option to extend the Lease Term and Tenant’s rights to the Renewal Term are subject to: (1) This Lease being in full force and effect on the last day of the Initial Term. (2) Compliance with the following procedure for exercising the option in questionoption: (a) At least nine (9) months before the last day of the Initial Term, Tenant shall give Landlord written notice exercising the option. (b) Each party shall, at the request of the other, execute a memorandum acknowledging the fact that the option in question has been exercised. If the option is properly exercised by Tenant, the failure of Landlord to execute such memorandum shall not invalidate such option or the exercise thereof. (3) Tenant is not in default at time of the exercise of the renewal and at the commencement of the renewal termRenewal Term.