Common use of Option to Extend Term Clause in Contracts

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term.

Option to Extend Term. Provided that Tenant is not then in Default, Tenant shall have the option ("Option") to extend the term of this Lease, at Lease upon the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the following terms and provisions set forth herein with respect to the initial term of this Lease, for up to conditions: (a) Tenant shall have two (2) additional periods consecutive options to extend the term of this Lease each for a period of five (5) years eachyears. (b) In the event Tenant elects to exercise an Option under Section 45 (a), the first commencing upon Lease terms shall be the expiration of same terms and conditions as set forth in this Lease except for the initial term hereof and the second commencing upon the expiration of the first extended termBasic Annual Rent, if any. Exercise of such option with respect which shall be equal to the first such extended term then current fair market rent as shall be mutually agreed upon by Landlord and Tenant. Either Party, however, may elect to terminate the Option (which termination shall be either Parties sole recourse and remedy) by giving written notice to the other Party, and the Option shall be of no further force or effect even after Tenant's due and timely exercise of an Option, if six months prior to the commencement date of the new term, Landlord and Tenant are unable in good faith to agree, in their respective sole discretion, upon a mutually satisfactory Basic Annual Rent. (c) The Option herein granted is not assignable separate and apart from this Lease. (d) The Option herein granted is for Tenant to extend the Lease for all (and not less than all) of the Demised Premises. (e) The Option is conditional upon Tenant giving Landlord written notice of its election to exercise the Option at least nine (9) months prior to the end of the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the or any prior extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed termthereof.

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b3.1 (c) and (cd) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months and not more than twelve (12) months prior to the expiration of the initial term hereof; : exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months and not more than twelve (12) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder hereunder, beyond any applicable notice and cure periods, on the date of such notice, notice or on the date any extended term is to commence, then the exercise of the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “"term” " of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, . Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. Tenant Lessee shall have the option ("Extension Option") to extend the term of this LeaseLease Term, at as to not less then the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Leaseentire Premises, for up to two a period (2the "Option Period") additional periods of five (5) years each, the first commencing upon the expiration date the Lease Term would otherwise expire, upon the same terms and conditions previously applicable, except for the grant of the initial term hereof Extension Option, the Landlord's Work provisions set forth in Exhibit B (which shall no longer be executory) and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term Rent (which shall be determined as set forth below. The Extension Option may be validly exercised only by written notice to in writing ("Option Notice") received by Landlord at least not earlier than twelve (12) months, and not later than nine (9) months months, prior to the expiration commencement of the initial term hereofOption Period; exercise of such option with respect to provided, however, in the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant event Lessee is in default hereunder on of the Lease at any time from the date of such notice, or on the Option Notice through the date any extended term is to commenceon which the Option Period commences, then at Lessor's election and upon written notice by Lessor to Lessee, Lessee's exercise of the option Extension Option may be voided by Lessor and Lessee shall thereafter have no rights hereunder to extent the Term through the Option Period. If Lessee does not exercise the Extension Option during the exercise period set forth above in strict accordance with the provisions hereof, the Extension Option shall forever terminate and be of no further force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b3.1(e) and (cf) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if anyhereof. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine lease six (96) months and not more than eight (8) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second such extended term, if the first extension option options has been duly exercised, shall be by like written notice to Landlord at least nine six (96) months and not more than eight (8) months prior to the expiration of the first extended term hereof. If there exists a material event of default on the part of Tenant is in default hereunder on the date of any such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term notice shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease)be effective. If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.62.7) to the “"term” " of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.62.7, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term. To the extent provided in Section 1.3(c)(ii) and 1.3(d), Tenant may elect an early and/or partial exercise of one or both extended terms in connection with an acceptance of Offered Space; in the event of any such partial exercise, the remaining unexercised portion of the extended term(s) shall be subject to a continuing option under this Section 2.7, as provided in Section 1.3(d), and upon a proper exercise by Tenant of such remaining extended term(s), the rent for such remainder of the extended term(s) shall be determined, as of the commencement of such remainder of the extended terms(s), in the manner provided in Section 3.1(e) or 3.1(f), as applicable.

Option to Extend Term. Tenant Tenants shall have the option “Option to extend Extend the term Term” of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, Lease for up to an additional two (2) additional periods of five (5) years each, the first commencing year period upon the expiration of same terms, covenants, and conditions contained in this Lease, except that the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term Basic Rental shall be equal to prevailing market rate, including prevailing escalations, for similar space in the Building then being offered to prospective tenants at the time Tenants exercise the option to extend, as determined by Landlord in its reasonable discretion (the “Option to Extend Term”). Tenants shall provide notice of its interest in exercising the Option to Extend Term by giving written notice to Landlord at least nine no later than eight (98) months prior to the last day of the Term of the Lease as extended herein and Landlord shall notify Tenant of the proposed Basic Rental for the Option to Extend Term within thirty (30) days of Tenants’ notice of its intent to exercise of the Option to Extend Term. Tenant shall then exercise the Option to Extend Term by giving written notice to Landlord no later than six (6) months prior to the expiration last day of the initial term hereof; Term of the Lease as extended herein , and the parties shall prepare the appropriate amendment to the Lease. The execution of a written supplement shall not be a condition to the effectiveness of Tenants’ exercise of such option with respect the Option to Extend the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed termTerm hereunder.

Option to Extend Term. Tenant A. Lessee shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon on all the terms and provisions set forth herein with respect to the initial term of contained in this Lease, Lease for up to one (1) two (2) additional periods of five 2)-year period (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first “extended term, if any. Exercise of such option with respect ”) at an adjusted rental calculated as provided in Subparagraph B below on the condition that: (a) Lessee has given to the first such extended term shall be by Lessor written notice to Landlord of exercise of that option (“option notice”) at least nine (9) but no more than twelve (12) months prior to the before expiration of the initial term hereof; exercise or extended term(s), as the case may be. (b) Lessee is not in default in the performance of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration any of the first extended term hereof. If Tenant is in default hereunder terms and conditions of the Lease on the date of such giving the option notice, or and Lessee is not in default on the date any that the extended term is to commence. B. The rent during the Extended Term shall be 95% of the fair market monthly rent (“Fair Market Rent”) for the Premises as of the commencement date of the Extended Term, as determined by the agreement of the parties or, if the parties cannot agree within sixty (60) days prior to the commencement of such Extended Term, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time by determination by commercial real estate brokers as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in Exhibit C to this Section 2.6Lease . In determining the Fair Market Rent, Tenant the parties (and in the absence of their agreement, the brokers) shall have no right determine the Fair Market Rent by taking into consideration the rents being charged at the time such determination is to be made for similar space in similar properties in the Los Gatos area pursuant to leases with terms and provisions substantially similar to those contained in this Lease. All other terms and conditions contained in the Lease, as the same may be amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term. C. The option to extend the shall be personal to Lessee, and shall not be transferable or assignable to any other person or entity other than a any transferee under an “exempt sublet”, as such term of that Lease beyond its prescribed termis defined in Article 21.

Option to Extend Term. Tenant shall have the option to extend the --------------------- term of this Lease, at the minimum rental Basic Annual Rent set forth in Section 3.1(b) and (c) Paragraph 3.5 and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first extension commencing upon the expiration of the initial term hereof and the second extension commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default beyond the expiration of any applicable notice and cure period hereunder on the date of such notice, notice or on the date any extended term is to commence, or if this Lease has earlier terminated for any reason, then the option extension option, at Landlord's election, shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6Paragraph 2.7, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have two (2) successive options to extend the Term of this Lease with respect to either (a) the entire Premises or (b) full floors of the Building and associated Improvements, by five (5) additional years (each such five-year term, an “Extended Term”). Upon exercise of the option by Tenant, the first Extended Term shall begin upon the expiration of the Initial Term, and the second Extended Term shall begin upon the expiration of the first Extended Term, and all references herein to the “Term” of the Lease shall refer collectively to both the Initial Term and each Extended Term for which Tenant has properly exercised the option hereunder. The same terms and conditions as herein set forth shall apply to each Extended Term, except that (x) Tenant shall pay to Landlord Base Rent (as defined in Section 3.1) in the amounts set forth on Exhibit B hereto indicated for each Extended Term, (y) Tenant shall have no further option to extend the Term of this Lease pursuant to this Section 2.2 beyond the second Extended Term, and, (z) in the event that the term of this Lease is extended with respect to less than the entire Premises, there shall be a corresponding reduction of the Base Rent and the Additional Rent and an equitable apportionment of the common expenses of the Premises hereunder. Tenant may exercise each option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be Lease by giving written notice to Landlord at least nine not more than thirty-six (936) months and not less than twelve (12) months prior to the expiration of the initial term hereof; exercise of such option with respect Initial Term (as to the first Extended Term) or the first Extended Term (as to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term.Extended Term).‌

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth prescribed in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the . The first commencing option period shall commence upon the expiration of the initial term hereof hereof, and the second commencing option period, if applicable, shall commence upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise . Exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder hereunder, beyond any applicable notice and cure periods, on the date of such notice, notice or on the date any extended term is to commence, then the exercise of the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more both extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have If Lessee is not in default in the performance of any of Lessxx'x xbligations hereunder, Lessor hereby grants to Lessee an option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the subject to similar terms and provisions set forth herein with respect conditions thereof, for an additional period, of three years, such additional term to commence upon the date following the final day of the original term granted herein, and subject to the initial term agreement of this Leasethe fair market rental for such option period by Lessor and Lessee. To exercise Lessxx'x xption, Lessee shall give to Lessor notice in writing by registered or certified mail, postage prepaid with the return receipt requested, addressed to Lessor at Lessor's address for up notice provided herein, not sooner than eight (8) months prior to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial original term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine not later than six (96) months prior to the expiration of the initial original term hereof; exercise . Upon receipt of the notice of Lessxx'x xxercise of said option, Lessor and Lessee shall endeavor to reach an agreement upon the rental for the term of said option period. If such option with respect to the second extended term, if the first extension option has been duly exercised, shall agreement cannot be by like written notice to Landlord at least nine accomplished sixty (960) months days prior to the expiration of the first extended term hereof. If Tenant is in default hereunder date on the date of such notice, or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend which the term of that Lease beyond its prescribed termsaid option period commences, the option right is hereby terminated. Lessxx xxxees to permit a "For Lease" sign in window of demised premise, if agreement is not reached, as required above.

Option to Extend Term. Subject to the provisions of this Paragraph 7, Tenant shall have the option ("Option to Extend") to extend the term Term of this LeaseLease for one (1) additional sixty (60) month term (the "Extended Term"), at on all of the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the same terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration conditions of the initial term hereof Lease except for the monthly Base Rent, provided that Tenant OR ITS PERMITTED ASSIGN A UNDER PARAGRAPH 23, has continuously operated its business in the Premises SUBJECT TO EVENTS OF FORCE MAJEURE AND THE PROVISIONS OF THE LEASE, and provided that no Event of Default or any even circumstance has occurred (WRITTEN NOTICE OF WHICH HAS BEERS PROVIDED TO TENANT) which with passage of time or the second commencing upon giving of notice or both would constitute an Event of Default ("Potential Default") shall exist under the expiration Lease when Tenant exercises such right or on the commencement of the first extended termExtended Term. Tenant may exercise such right only by giving Landlord written notice of exercise, if any. Exercise submitted by Tenant on Tenant's letterhead stationary, of such option with respect to right no later than the first such extended term shall be by written notice to Landlord at least date which is six (6) months and not sooner than nine (9) months prior to the expiration of the initial term hereof; exercise of such option this Lease with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereofExtended Term. If Tenant fails (or is unable due to an Event of Default or Potential Default) to timely exercise such rights in default hereunder accordance herewith, such rights shall terminate automatically without further action or notice required on the date part of such notice, Tenant or on Landlord. Base Rent for the date any extended term is to commence, then the option Extended Term shall be of that amount equal to the Fair Market Rental Value for similar space determined as hereinafter provided. In no force or effect, event shall the extended term shall not commence and this Lease shall expire at Base Rent for the end Extended Term be less than the monthly rent paid by tenant in the last month of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed termOriginal Term.

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; , exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, notice or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. If the Tenant duly and regularly pays the rent, plus GST, and performs each and every one of the covenants in the Lease to be performed and observed by the Tenant, the Tenant shall have the one option to extend the Term of the Lease for a further term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each(the "Extended Term"), the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by exercised on not less than four (4) months' and not more than twelve (12) months' written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of Term failing which such option with respect shall be null and void and incapable of exercise. If the Tenant exercises the option to extend the Term, the Extended Term shall be on the same terms and conditions as the initial Term of the Lease except for Basic Rent, any free rent allowance, fixturing period, tenant improvement allowance or other incentive given to the second extended termTenant during the initial Term, if and except for this option to extend. The Basic Rent payable by the first extension option has been duly exercised, Tenant during the Extended Term shall be by like written notice negotiated and agreed upon between the Landlord and the Tenant based on the prevailing fair market Basic Rent as at the commencing of the Extended Term for similarly improved premises of similar size, quality, use and location in buildings similar to the Building, but shall in any event not be less than the Basic Rental paid during the last year of the initial Term of the Lease. If the Landlord at least nine and the Tenant are unable to agree on the Basic Rent for the Extended Term within three (93) months prior to the expiration commencement of the first extended term hereof. If Tenant is in default hereunder on Extended Term, the date of such notice, or on the date any extended term is to commence, then the option matter shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect determined by a single arbitrator pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references the Commercial Arbitration Act and in this Lease (other than in this Section 2.6) to accordance with the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed termforegoing provisions.

Option to Extend Term. Tenant shall have the option to extend the term --------------------- of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, notice or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “"term” " of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have is given the option to extend the term Term of this LeaseLease for a five (5) year period ("extended term") following expiration of the initial Term, by giving written Notice of exercise of the option ("option notice") to the Landlord at least six (6) months but not more than one (1) year before the expiration of the Term. The same terms and conditions as applied during the initial Term of this Lease shall apply to the extended term except that (i) the Minimum Monthly Rent shall be adjusted at the minimum rental commencement of the extended term as specified below and annually thereafter pursuant to the Index set forth in Section 3.1(b1.11(a) hereof, however, in no event shall such annual increases be less than five percent (5%) nor more than seven percent (7%) over the Minimum Monthly Rent then in effect (as increased pursuant to the last adjustment), and (cii) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term there shall be by written notice no further right or option to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended termextend. Provided, however, that if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such giving the option notice, the option notice shall be totally ineffective, or if Tenant is in default on the date any the extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant initial term. Tenant's Lease Option is personal to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” and shall automatically terminate upon any "Transfer" of this Lease shall be construed to include requiring Landlord's Consent, as defined in Section 15.1, or if the extension term(s) thus elected by Tenant Except as expressly use of the Premises is changed from that set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term1.8.

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b3.1(c) and (cd) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months and not more than twelve (12) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months and not more than twelve (12) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder hereunder, beyond any applicable notice and cure periods, on the date of such notice, notice or on the date any extended term is to commence, then the exercise of the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. If the Tenant duly and regularly pays the rent, plus GST, and performs each and every one of the covenants in the Lease to be performed and observed by the Tenant, the Tenant shall have the one option to extend the Term of the Lease for a further term of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five years (5) years eachthe "Extended Term"), the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by exercised on not less than six (6) months' and not more than twelve (12) months' written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of Term failing which such option with respect shall be null and void and incapable of exercise. If the Tenant exercises the option to extend the Term, the Extended Term shall be on the same terms and conditions as the initial Term of the Lease except for Basic Rent, and any incentive given to the second extended termTenant during the initial Term, if and except for this option to extend. The Basic Rent payable by the first extension option has been duly exercised, Tenant during the Extended Term shall be by like written notice negotiated and agreed upon between the Landlord and the Tenant based on the prevailing fair market Basic Rent as at the commencement of the Extended Term for similarly improved premises of similar size, quality, use and location in buildings similar to the Building, but shall in any event not be less than the Basic Rental paid during the last year of the initial Term of the Lease. If the Landlord at least nine and the Tenant are unable to agree on the Basic Rent for the Extended Term within three (93) months prior to the expiration commencement of the first extended term hereof. If Tenant is in default hereunder on Extended Term, the date of such notice, or on the date any extended term is to commence, then the option matter shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect determined by a single arbitrator pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references the COMMERCIAL ARBITRATION ACT and in this Lease (other than in this Section 2.6) to accordance with the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed termforegoing provisions.

Option to Extend Term. Tenant shall have the option to extend the term --------------------- of this Lease, at the minimum rental set forth in Section 3.1(b) and (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine (9) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine (9) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, notice or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “"term” " of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b3.1(d) and (ce) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of five (5) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if anyhereof. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least nine six (96) months and not more than eight (8) months prior to the expiration of the initial term hereof; exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by like written notice to Landlord at least nine six (96) months and not more than eight (8) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder on the date of such notice, notice or on the date any extended term is to commence, then the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.62.7) to the “"term” " of this Lease shall be construed to include the extension term(s) thus elected by Tenant Tenant. Except as expressly set forth in this Section 2.62.7, Tenant shall have no right to extend the term of that this Lease beyond its prescribed term.

Option to Extend Term. Tenant shall have is hereby granted the option to extend the term of this Lease, at the minimum rental set forth in Section 3.1(b) and Lease for one (c) and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (21) additional periods period of five (5) years each(the "extended term"; as used in this Lease, "term" shall include the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise applicable, unless the context clearly indicates otherwise) upon all the terms and conditions of such option with respect this Lease, subject to the first such extended following terms, conditions and exceptions: (a) Tenant shall notify Landlord in writing of Tenant's election to extend the term shall be by written notice to Landlord of this Lease at least nine (9) months but no more than fifteen (15) months prior to the expiration of the initial term hereof; exercise of such then existing term. (b) If this Lease is terminated at any time, the option with respect to the second extended term, if the first extension option has been duly exercised, extend shall also be by like written notice to Landlord at least nine terminated. (9c) months prior to the expiration of the first extended term hereof. If Tenant is in default hereunder under any of the terms and conditions of this Lease beyond any applicable notice and cure period on the date of giving written notice of exercise of such notice, option or on the date any day preceding the first day of the extended term is to commenceterm, then at Landlord's option the option notice shall be of no force or effectnull and void, the extended term shall not commence and this Lease shall expire at the end of the original term. (d) The Guaranteed Minimum Monthly Rental in effect as of commencement of the extended term shall be adjusted to ninety five percent (95%) of the then current term hereof fair market rental value (or at such earlier time as Landlord may elect pursuant to determined below) of the default provisions of this Lease)demised premises. If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the term of that Lease beyond its prescribed term.Landlord and Tenant