Common use of Option to Extend Lease Term Clause in Contracts

Option to Extend Lease Term. In consideration for Tenant not having been in default under this Lease more than twice within any one (1) year period during the Lease Term, Landlord hereby grants to Tenant one (1) option to extend the Lease Term for a period of five (5) years ("Extended Term"), on the following terms and conditions: (a) Tenant must give Landlord notice in writing of its exercise of the option to extend the Lease Term no earlier than eight (8) months nor later than six (6) months before the date the Lease Term would end but for said exercise. Time is of the essence. (b) Tenant may not extend the Lease Term pursuant to the option granted by this Paragraph 43 if Tenant has been in default in the performance of any of the terms and conditions of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned or otherwise transferred its interest in this Lease and/or the Premises whether or not Landlord's consent to such assignment or transfer has been given. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend. (c) All terms and conditions of this Lease shall apply during the Extended Term, except that the Rent for the Extended Term shall be determined in accordance with Paraxxxxx 00 xxxxx. (x) Xxxe Tenant delivers notice of its exercise of the option to extend the Lease Term, Tenant may not withdraw such exercise and, subject to the provisions of this Paragraph 43, such notice shall operate to extend the Lease Term. Upon the extension of the Lease Term pursuant to this Paragraph 43, the term "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date shall be the expiration date of the Extended Term.

Option to Extend Lease Term. In consideration for Tenant not having been in default under this Lease more than twice within any one (1) year period during the Lease Term, A. Landlord hereby grants to Tenant one two (12) option options (hereinafter referred to collectively as the “Options” and each individually as an “Option”) to extend the term of this Lease for an additional period of thirty-six (36) consecutive months each (hereinafter referred to collectively as the “Extensions” and each individually as an “Extension”). The proper and valid exercise of the first of the Options (hereinafter referred to as the “First Extension Option”), shall extend the term of this Lease from the expiration date of the initial term of this Lease for a period or thirty-six (36) consecutive months thereafter (hereinafter referred to as the “First Extension Term”). The proper and valid exercise of the second of the Options (hereinafter referred to as the “Second Extension Option”) shall extend the term of this Lease from the expiration date of the First Extension Term for a period of five thirty-six (536) years consecutive months thereafter ("Extended hereinafter referred to as the “Second Extension Term"”). In this regard, Landlord and Tenant hereby stipulate, acknowledge and agree that, if the First Extension Option is properly exercised by Tenant as provided for hereinbelow, the First Extension Term shall commence on the day immediately following the expiration date of the initial term of this Lease, and shall end and terminate on the last day of the thirty-sixth (36th) full month following such date, and that if the Second Extension Option is properly exercised by Tenant as provided for hereinbelow, the Second Extension Term shall commence on the day immediately following the expiration date of the First Extension Term, and shall end and terminate on the last day of the thirty-sixth (36th) full month following such date. B. The lease of the Leased Premises during the period of the Extensions shall be upon the same terms and conditions: (a) conditions as are set forth in this Lease, and shall be subject to all of the terms and provisions thereof, except as otherwise hereinbelow provided. The First Extension Option shall be exercised only by delivery of written notice to Landlord on or before August 1, 2008. The Second Extension Option shall be exercised only by delivery of written notice to Landlord on or before August 1, 2011. If Tenant must give fails to deliver to Landlord written notice in writing of its the exercise of the option an Option within any such prescribed time period, said Option and any succeeding Option shall lapse and expire and shall become null and void and of no further force or effect, and thereafter Tenant shall have or possess no other or further right to extend the term of this Lease. In addition, each Option shall be exercisable by Tenant and the term of this Lease Term no earlier than eight (8) months nor later than six (6) months before shall be extended only upon the date express condition that, at the Lease Term would end but for said exercise. Time is time of the essence. (b) Tenant may not extend the Lease Term pursuant attempted exercise of any such Option, and at all times prior to the option granted by this Paragraph 43 if commencement of the Extension applicable thereto, Tenant has been shall not be in default in the performance of under any of the terms and conditions or provisions of the this Lease more than twice within beyond any one applicable notice and/or right to cure period provided for in this Lease. (1) year period The amount of monthly Base Rental which shall be payable by Tenant during the Lease TermFirst Extension Term shall be computed at the prevailing market rate for the lease of property of similar type, or if Tenant location, size and use in the geographic area where the Leased Premises are located, and shall have assigned or otherwise transferred its interest be subject to the annual increases in this Lease and/or the Premises whether or not Landlord's consent to such assignment or transfer has been given. If Tenant is in default under this Lease Base Rental as hereinafter provided for, all as determined on the date that which is one hundred eighty (180) days prior to the Extended scheduled commencement date of the First Extension Term is (hereinafter referred to commenceas the “First Extension Term Rent Determination Date”). In this regard, Landlord and Tenant shall make all reasonable efforts to reach an agreement as to the amount of monthly Base Rental which shall be payable by Tenant during the First Extension Term on or before the First Extension Term Rent Determination Date. However, if for any reason whatsoever either Landlord or Tenant shall fail to agree in writing as to the amount of monthly Base Rental which shall be payable by Tenant during the First Extension Term prior to such date, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant such amount of an exercise of its option to extend. (c) All terms and conditions of this Lease shall apply during the Extended Term, except that the Rent for the Extended Term monthly Base Rental shall be determined in accordance with Paraxxxxx 00 xxxxxthe appraisal procedure hereinafter set forth (hereinafter referred to as the “Three Appraiser Method”). (x2) Xxxe The amount of monthly Base Rental which shall be payable by Tenant delivers notice during the Second Extension Term shall be computed at the prevailing market rate for the lease of its exercise property of similar type, location, size and use in the geographic area where the Leased Premises are located, and shall be subject to the annual increases in Base Rental as hereinafter provided for, all as determined on the date which is one hundred eighty (180) days prior to the scheduled commencement date of the option Second Extension Term (hereinafter referred to extend as the Lease Term“Second Extension Term Rent Determination Date”). In this regard, Landlord and Tenant shall make all reasonable efforts to reach an agreement as to the amount of monthly Base Rental which shall be payable by Tenant during the First Extension Term on or before the Second Extension Term Rent Determination Date. However, if for any reason whatsoever either Landlord or Tenant shall fail to agree in writing as to the amount of monthly Base Rental which shall be payable by Tenant during the Second Extension Term prior to such date, then such amount of monthly Base Rental shall be determined in accordance with the above-referenced Three Appraiser Method. (3) Within fifteen (15) days following either the First Extension Term Rent Determination Date or the Second Extension Term Rent Determination Date, if the Three Appraiser Method is determined to be necessary hereunder, Landlord and Tenant shall each appoint one (1) licensed real estate appraiser specializing in the field of commercial real estate appraisal in the Atlanta, Georgia metropolitan area, each of whom shall be recognized as ethical, experienced and reputable within their field. The two (2) appraisers so selected by Landlord and Tenant shall, within fifteen (15) days after they have both been appointed, select a third appraiser possessing the same qualifications, licensing, certifications and experience required of the Landlord’s and Tenant’s appraisers, as set forth above. Within thirty (30) days after all three (3) appraisers have been selected, each said appraiser shall make an independent determination of the prevailing market rate of monthly Base Rental which shall be payable by Tenant with regard to the lease of the Leased Premises during the period of the applicable Extension, as compared to leasehold space of equivalent type, location, size and use in the geographic area where the Leased Premises are located. In the event that the three (3) appraisers fail to reach an agreement as to the prevailing market rate of monthly Base Rental applicable to the lease of the Leased Premises, the prevailing market rate of monthly Base Rental shall be deemed to be the average of the two (2) appraisals which are closest in amount and such amount shall constitute the monthly Base Rental payable by Tenant during the period of such applicable Extension. In the event that either Landlord or Tenant fails to appoint an appraiser as provided for hereinabove for any reason whatsoever, then the appraiser appointed by the other such party shall have the sole power to determine the amount of the prevailing market rate of monthly Base Rental and such determination shall conclusively be deemed to constitute the amount of monthly Base Rental which shall be payable by Tenant during the period of such applicable Extension. Landlord shall pay all fees and expenses relating to its appraiser, Tenant may not withdraw such exercise shall pay all fees and expenses relating to its appraiser, and the fees and expenses of the third appraiser shall be divided equally between Landlord and Tenant. (4) Once the amount of annual Base Rental has been determined as set forth hereinabove (and, subject accordingly, the monthly Base Rental), such amount of monthly Base Rental shall be payable by Tenant during each of the first twelve (12) months of any such applicable Extension to which such determination applies. Thereafter, however, during the remaining period of any such applicable Extension, the amount of annual Base Rental shall be increased annually by three percent (3%) of the amount of monthly Base Rental which shall be payable by Tenant hereunder during the twelve (12) month period of any such applicable Extension immediately preceding the date of any such increase. D. It is hereby specifically stipulated and agreed by Tenant that any and all of the provisions of this Paragraph 43Lease relating to the payment of CAM Charges, taxes, insurance costs and utility surcharges, and relating to the payment of any and all other amounts of additional rent, charges and expenses which are provided for under this Lease, shall be and remain in full force and effect and shall be fully applicable to the lease of the Leased Premises during the period of the respective Extensions. Tenant hereby agrees to pay all such notice amounts, charges and expenses relating to the lease and occupancy of the Leased Premises which are required to be paid under the terms of this Lease during the period of the respective Extensions, as such amounts become due. E. Once the amount of monthly Base Rental which is payable by Tenant during the period of any applicable Extension has been agreed upon or otherwise determined, Tenant shall operate execute and deliver such lease extension agreements or other lease documents as Landlord shall reasonably require in order to extend evidence the Lease Termterms of any such Extension as hereinabove provided for. Upon In the event that such lease documents accurately reflect and memorialize the matters provided for herein regarding the extension of the Lease Term pursuant term of this Lease, but the Tenant shall, nevertheless, fail to this Paragraph 43execute and deliver said lease documents within fifteen (15) days of the date Landlord delivers any such documents to Tenant, then, at Landlord’s option, the applicable Extension to which such documents apply shall lapse and expire and shall become null and void and of no further force and effect as if the Option applicable thereto had never been exercised, and thereafter, Tenant shall have or possess no other or further right to extend the term "Lease Term" as used in of this Lease shall thereafter include beyond the Extended Term and the Lease Termination date shall be the scheduled expiration date of the Extended Terminitial term of this Lease. F. The Options hereby provided for are personal to the Tenant and any permitted assignees named herein. If Tenant subleases any portion of the Leased Premises or assigns or otherwise transfers any interest in or under this Lease to any person or entity prior to the exercise of an Option, then, at Landlord’s option, such Option and any succeeding Option shall immediately lapse and expire and shall become of no further force or effect. Correspondingly, if Tenant subleases any portion of the Leased Premises or assigns or otherwise transfers any interest in or under this Lease to any person or entity after the exercise of the an Option but prior to the commencement of the period of the Extension applicable to such Option, then, at Landlord’s option, such Option and any succeeding Option shall immediately lapse and expire and become of no further force or effect, as if said Option had never been exercised. Finally, if Tenant subleases any portion of the Leased Premises or assigns or otherwise transfers any interest in or under this Lease after the commencement of an Extension, then, at Landlord’s Option, the term of this Lease shall expire and terminate upon the expiration of the period of the Extension during which such sublease, assignment or transfer occurs, and only the succeeding Option, if any, shall lapse and expire and be of no further force or effect.

Option to Extend Lease Term. In consideration for Tenant not having been in default under this Lease more than twice within any one (1) year period during the Lease Term, Landlord Lessor hereby grants to Tenant Lessee one ---------------------------- (1) option to extend the Lease Original Term for a period of five (5) years (the "Extended Term"), on the following terms and conditions: (ai) Tenant must Lessee shall give Landlord Lessor written notice in writing of its exercise of the applicable option to extend the Lease Term term no earlier than eight (8) months nor later than six two hundred seventy (6270) months days before expiration of the date the Lease Term would end but for said exerciseOriginal Term. Time is of the essence. (bii) Tenant Lessee may not extend the Lease Original Term pursuant to this Section 1.3(d) if a Breach by Lessee (defined in Paragraph 13.1 of the Lease) exists as of the date of Lessee's notice of exercise of the option granted by this Paragraph 43 to extend, or if Tenant has been in default in the performance of Lessee shall have assigned or sublet any of the terms and conditions aggregate square footage of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned Premises or otherwise transferred its interest in this Lease and/or the Premises Premises, whether or not LandlordLessor's consent to such assignment or transfer has been given. If Tenant is in default under this Lease a Breach by Lessee exists on the date that the Extended Term is to commence, then Landlord Lessor may elect to terminate this Lease, notwithstanding any notice given by Tenant Lessee of an exercise of its option to extendextend and such exercise of Lessee's option to extend the Original Term shall be void and of no force or effect. (ciii) All terms and conditions of this Lease shall apply during the Extended Term, except that the Base Rent for the Extended Term shall be determined in accordance with Paraxxxxx 00 xxxxxSection 1.5(b) of this Addendum; Lessee shall have no further option to extend the Lease term beyond the Extended Term described in this Section 1.3(d), and Lessor shall have no obligation to construct or install any building shell improvements, leasehold improvements or site improvements or provide any allowance with respect to any such improvements. (xiv) Xxxe Tenant Once Lessee delivers notice of its exercise of the option to extend the Lease Original Term, Tenant Lessee may not withdraw such exercise and, subject to the provisions of this Paragraph 43Section 1.3(d), such notice shall operate to extend the Lease Original Term. Upon the extension of the Lease Original Term pursuant to this Paragraph 43Section 1.3(d), the term "Lease TermExpiration Date" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date shall be mean the expiration date of the Extended TermTerm unless sooner terminated pursuant to the terms hereof.

Option to Extend Lease Term. In consideration for Tenant not having been in default under this Lease more than twice within any one (1) year period during Lessee is hereby granted the Lease Term, Landlord hereby grants to Tenant one (1) option to extend the term of this Lease for three (3) additional terms, hereinafter referred to as the "First Extended Term," "Second Extended Term," and the "Third Extended Term" respectively, on all of the terms and. provisions contained in this Lease, except rent (which rent shall be set at the Market Rate as defined in paragraph 4.3) and expiration date of the Initial Term. Lessee may exercise its option to extend the term of this Lease by giving written notice Of such exercise (a "Lessee's Renewal Notice") to Lessor not later than nine (9) months prior to the expiration of the term to be extended; provided, however, that if Lessee is in default on the date of giving Lessee's Renewal Notice, the Lessee's Renewal Notice shall be null and void and of no force or effect, and provided further, that if Lessee is in default on, or this Lease has been otherwise terminated prior to, the date that the First Extended Term, the Second Extended Term, or the Third Extended Term, as the case may be, would otherwise commence, such extended term shall not commence and this Lease shall expire at the end of the Initial Term, the First Extended Term or the Second Extended Term, as the case may be. The First Extended Term shall before five (5) years, commencing on the day after the expiration of the initial Term. The Second Extended Term shall be for a period of five (5) years ("years, commencing on the day after the expiration of the First Extended Term"), on the following terms and conditions: (a) Tenant must give Landlord notice in writing of its exercise of the option to extend the Lease Term no earlier than eight (8) months nor later than six (6) months before the date the Lease Term would end but for said exercise. Time is of the essence. (b) Tenant may not extend the Lease Term pursuant to the option granted by this Paragraph 43 if Tenant has been in default in the performance of any of the terms and conditions of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned or otherwise transferred its interest in this Lease and/or the Premises whether or not Landlord's consent to such assignment or transfer has been given. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend. (c) All terms and conditions of this Lease shall apply during the Extended Term, except that the Rent for the The Third Extended Term shall be determined in accordance with Paraxxxxx 00 xxxxx. for a period of five (x5) Xxxe Tenant delivers notice of its exercise years, commencing on the day after the expiration of the option Second Extended Term. Lessee shall have no right to extend the Lease Term, Tenant may not withdraw such exercise and, subject to the provisions term of this Paragraph 43, such notice Lease beyond the Third Extended Term described herein. The Initial Term and any Extended Term(if commenced as provided above) shall operate be collectively referred to extend herein as the Lease Term. Upon the extension of the Lease Term pursuant to this Paragraph 43, the term "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date shall be the expiration date of the Extended Term."

Option to Extend Lease Term. In consideration for A) Subject to Paragraph E) below Tenant not having been in default under may, at Tenants option, extend the Initial Term of this Lease more than twice within any one for up to two (12) year period during the Lease Term, Landlord hereby grants to Tenant one (1) option to extend the Lease Term for a period consecutive periods of five (5) years each (each such period referred to as an "Extended Extension Term"), subject to all the provisions of this Lease, except for any further extensions of the Term. The Extension Term shall commence at the expiration of the Initial Term, or the previous Extension Term, as the case may be, and shall terminate on the following terms last day prior to the fifth anniversary of the date of commencement of the Extension Term, unless sooner terminated as provided herein. B) After the exercise of an option to extend, all references in this Lease to the "Term" shall be considered to mean the Term as extended, and conditionsall references to termination or to the end of the Term shall be considered to mean the termination or end of the Extension Term. C) Tenant's right to extend the Initial Term or such Initial Term as previously extended, is subject to: (1) the following conditions precedent: a) This Lease shall be in full force and effect at the time notice of exercise is given and on the last day of the Initial Term or the then current Extension Term, as applicable. b) Tenant must shall not be in default with all periods of time to cure such default having expired as provided in Section 13.01 herein: (i) at the time notice of exercise is given; or (ii) on the last day of the Initial Term, or the previous Extension Term as the case may be. (2) compliance with the following procedure for exercising the option: a) At least one (1) year before the last day of the Initial Term or the current Extension Term, as the case may be, Tenant shall give Landlord written notice in writing of its exercise irrevocably exercising the option (the "Option Notice"). b) Each party shall, at the request of the other, execute a memorandum acknowledging the fact that the option in question has been exercised. D) Neither the foregoing option granted to Tenant to extend the Term of this Lease, nor the exercise thereof by Tenant, shall prevent Landlord from exercising any right granted or reserved to Landlord in this Lease or which Landlord may have by virtue of any Law or otherwise, to terminate this Lease, either during the Initial Term or during any Extension Term. Any lawful termination of this Lease shall serve to terminate all Extension Terms, whether or not Tenant shall have exercised same. Any right on the part of Landlord to terminate this Lease shall continue during the Extension Term, and the foregoing option granted to Tenant to extend the Term shall not be deemed to give Tenant any further option to extend the Term. E) A portion of the shopping center is currently leased to The Price Company pursuant to a written lease dated August 29, 1994 between Price Enterprises, Inc. ("Landlord") and The Price Company ("Tenant") (referred to herein as the "Costco Lease"). The initial term of the Costco Lease expires August 31, 2009. The tenant under the Costco Lease has an option to extend the initial term of such lease for up to seven (7) periods of five (5) years each. (1) In the event the Tenant herein exercises its option to extend the term of this Lease for the first Extension Term no earlier than eight commencing September 1, 2009, and the tenant under the Costco Lease does not exercise its option to extend the term of the Costco Lease (8) months nor later than beginning September 1, 2009) then the Landlord, at its option, may declare Tenant's option to extend the Term of this Lease null and void by giving written notice of such fact to Tenant within thirty (30) days after the right of the tenant under the Costco Lease to extend its lease term expires. (2) In the event that the initial terms of both this Lease and the Costco Lease are extended for the five year period beginning September 1, 2009, and in the event the Tenant herein exercises its option to further extend the Term of this Lease for the second Extension Term commencing September 1, 2014, and the tenant under the Costco Lease does not exercise its further option to extend the term of the Costco Lease, beginning September 1, 2014, then the Landlord, at its option, may declare Tenant' s option to extend the Term of this Lease null and void by giving written notice of such fact to the Tenant within thirty (30) days after the right of the tenant under the Costco Lease to extend its lease term expires. F) Landlord represents that the tenant under the Costco Lease must exercise its options, if any to extend the term of such lease at least six (6) months before prior to the date the Lease Term would end but for said exercise. Time is expiration of the essencethen-existing lease term. (b) Tenant may not extend the Lease Term pursuant to the option granted by this Paragraph 43 if Tenant has been in default in the performance of any of the terms and conditions of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned or otherwise transferred its interest in this Lease and/or the Premises whether or not Landlord's consent to such assignment or transfer has been given. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend. (c) All terms and conditions of this Lease shall apply during the Extended Term, except that the Rent for the Extended Term shall be determined in accordance with Paraxxxxx 00 xxxxx. (x) Xxxe Tenant delivers notice of its exercise of the option to extend the Lease Term, Tenant may not withdraw such exercise and, subject to the provisions of this Paragraph 43, such notice shall operate to extend the Lease Term. Upon the extension of the Lease Term pursuant to this Paragraph 43, the term "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date shall be the expiration date of the Extended Term.

Option to Extend Lease Term. In consideration for Tenant not --------------------------- having been in material default under this Lease more than twice within any one (1) year period during the Lease Term, Landlord hereby grants to Tenant one two (12) option options to extend the Lease Term for a period of five one (51) years year each ("Extended Term"), on the following terms and conditions: (a) Tenant must give Landlord notice in writing of its exercise of the option to extend the Lease Term no earlier than eight six (8) 6) months nor later than six four (64) months before the date the Lease Term would end but for said exercise. Time is of the essence. (b) Tenant may not extend the Lease Term pursuant to the option granted by this Paragraph 43 44 if Tenant has been in default in the performance of any of the material terms and conditions of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned or otherwise transferred its interest in this Lease and/or the Premises (other than to a "Permitted Assignee" pursuant to Paragraph 24.5 hereof) whether or not Landlord's consent to such assignment or transfer has been given. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this Lease, notwithstanding any notice given by Tenant of an exercise of its option to extend. (c) All terms and conditions of this Lease shall apply during the Extended Term, except that the Rent for the Extended Term Terms shall be determined in accordance with Paraxxxxx Xxxxxxxxx 00 xxxxx. (x) Xxxe Once Tenant delivers notice of its exercise of the option to extend the Lease Term, Tenant may not withdraw such exercise and, subject to the provisions of this Paragraph 4344, such notice shall operate to extend the Lease Term. Upon the extension of the Lease Term pursuant to this Paragraph 4344, the term term, "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date shall be the expiration date of the Extended Term.

Option to Extend Lease Term. In consideration for Tenant not having been in default under this Lease more than twice within any one (1) year period during the Lease Term, Landlord hereby grants to Tenant one (1) option ("Option") to extend the Lease Term for a period of five (5) years ("Extended Term"), with respect to the Premises on the following terms and conditions: (a) The Option shall give Tenant must the right to extend the Lease Term for an additional ten (10) years (the "Extended Term"); (b) Tenant shall give Landlord written notice in writing of its exercise of the option to extend the Lease Term Option no later than one hundred eighty (180)days, nor earlier than eight three hundred sixty (8) months nor later than six (6) months before 360), prior to the date the Lease Term would end but for said exercise. Time is of the essence.Termination Date; (bc) Tenant may not extend the Lease Term pursuant to the option granted by this Paragraph 43 Section 3.4 if Tenant has been is in default in the performance of any of the terms and conditions of the Lease more than twice within any one (1) year period during the Lease Term, or if Tenant shall have assigned or otherwise transferred its interest in this Lease and/or the Premises whether Other Lease, which default continues after the expiration of any grace period and the giving of any notice, as provided in Article 16 below or in the Other Lease. Any notice of exercise of the Option given by Tenant while Tenant is in default shall be of no force and effect. The period of exercise of the Option shall not Landlordbe extended for any period in which Tenant is unable to exercise an Option by reason of Tenant's consent to such assignment or transfer has been givendefault. If Tenant is in default under this Lease on the date that the Extended Term is to commence, then Landlord may elect to terminate this LeaseLease pursuant to Section 16.2.1, notwithstanding any notice given by Tenant of an the exercise of its option to extendthe Option. (cd) All terms and conditions of this Lease shall apply during the Extended Term, except that the Base Rent for the Extended Term shall be determined in accordance with Paraxxxxx 00 xxxxx.Section 5.1.2 below; (xe) Xxxe Once Tenant delivers notice of its exercise of the option to extend the Lease TermOption, Tenant may not withdraw such exercise and, subject to the provisions of this Paragraph 43Section 3.4, such notice shall operate to extend the Lease Term. Upon the extension of the Lease Term pursuant to this Paragraph 43Section 3.4, the term "Lease Term" as used in this Lease shall thereafter include the Extended Term and the Lease Termination date Date shall be the expiration date of the Extended Term.