Common use of OPTION TO EXTEND LEASE Clause in Contracts

OPTION TO EXTEND LEASE. In the event Tenant wishes to extend this lease following the initial term or any extended term thereafter, Tenant shall provide Landlord with a written request to extend the Lease. Following Landlord’s receipt of Tenant’s extension request, Landlord shall have the option to deny or accept the request, as it deems in the best interest of Xxxxxxxxxx County. If the Landlord accepts Tenant’s extension request, the extended term shall begin on the expiration of the Initial Lease Term or the then current “Extension Term” of this Lease, as appropriate. All terms, covenants, and provisions of this Lease shall apply to each such Extension Term. The Base Rent will be adjusted on each new commencement date of each Extension Term (the "Adjustment Date") to reflect increases in the Consumer Price Index for "All Urban Consumers, U.S. City Average, All Items," issued by the Bureau of Labor Statistics of the United States Department of Labor. The adjustments in the Base Rent will be determined by multiplying the Initial Base Rent by a fraction, the numerator of which is the index number for the most recent publication of the above referenced CPI before the adjustment and the denominator of which is the index number for the first month of the first year of the Term. If the product is greater than the Initial Base Rent, Tenant will pay this greater amount as Base Rent until the next rental adjustment. Base Rent will never be less than the Initial Base Rent.

OPTION TO EXTEND LEASE. In the event Tenant wishes to extend this lease following the initial term or any extended term thereafter, Tenant shall provide Landlord with a written request to extend the Lease. Following Landlord’s receipt of Tenant’s extension request, Landlord shall have the option to deny or accept the request, as it deems in the best interest of Xxxxxxxxxx County. If the Landlord accepts Tenant’s extension request, the extended term shall begin on the expiration of the Initial Lease Term or the then current “Extension Term” of this Lease, as appropriate. All terms, covenants, and provisions of this Lease shall apply to each such Extension Term. This lease may only be extended for up to a maximum of Four (4) separate One (1) Year Extension Terms. The Base Rent will be adjusted on each new commencement date of each Extension Term (the "Adjustment Date") to reflect increases in the Consumer Price Index for "All Urban Consumers, U.S. City Average, All Items," issued by the Bureau of Labor Statistics of the United States Department of Labor. The adjustments in the Base Rent will be determined by multiplying the Initial Base Rent by a fraction, the numerator of which is the index number for the most recent publication of the above referenced CPI before the adjustment and the denominator of which is the index number for the first month of the first year of the Term. If the product is greater than the Initial Base Rent, Tenant will pay this greater amount as Base Rent until the next rental adjustment. Base Rent will never be less than the Initial Base Rent.

OPTION TO EXTEND LEASE. In the event Tenant wishes to extend this lease following the initial term or any extended term thereafter, Tenant shall provide Landlord with a written request to extend the Lease. Following LandlordXxxxxxxx’s receipt of Tenant’s extension request, Landlord shall have the option to deny or accept the request, as it deems in the best interest of Xxxxxxxxxx Williamson County. If the Landlord accepts TenantXxxxxx’s extension request, the extended term shall begin on the expiration of the Initial Lease Term or the then current “Extension Term” of this Lease, as appropriate. All terms, covenants, and provisions of this Lease shall apply to each such Extension Term. This lease may only be extended for up to a maximum of Four (4) separate One (1) Year Extension Terms. The Base Rent will be adjusted on each new commencement date of each Extension Term (the "Adjustment Date") to reflect increases in the Consumer Price Index for "All Urban Consumers, U.S. City Average, All Items," issued by the Bureau of Labor Statistics of the United States Department of Labor. The adjustments in the Base Rent will be determined by multiplying the Initial Base Rent by a fraction, the numerator of which is the index number for the most recent publication of the above referenced CPI before the adjustment and the denominator of which is the index number for the first month of the first year of the Term. If the product is greater than the Initial Base Rent, Tenant will pay this greater amount as Base Rent until the next rental adjustment. Base Rent will never be less than the Initial Base Rent.