OPTION TO EXTEND THE TERM. Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this paragraph, the option (the "Option") to extend the term of this Lease for an additional term (the "Option Term"), which Option Term shall be a period of sixty (60) months. The Option Term shall be exercised, if at all by written notice to Landlord on or before the date that is three (3) months prior to the expiration date of the initial term of the Lease. If Tenant exercises the Option. each of the terms, covenants and conditions of this Lease except this paragraph shall apply during the Option Term as though the expiration date of the Option Term was the date originally set forth herein as the expiration date of the initial term provided that the rent to be paid shall be the Fair Market Rental, as hereinafter defined, for the Premises for the Option Term. Anything contained herein to the contrary notwithstanding, if Tenant is in monetary or material non-monetary default under any of the terms, covenants or conditions of this Lease either at the time Tenant exercises the Option or at any time thereafter prior to the commencement date of the Option Term, Landlord shall have, in addition to all of Landlords other rights and remedies provided in this Lease, the right to terminate the Option upon notice to Tenant, in which event the expiration date of this Lease shall be and remain the expiration date of the initial term. As used herein, the term "Fair Market Rental" for the Premises shall mean the rental and all other monetary payments that Landlord could obtain during the Option Term from a third party desiring to lease the Premises for the Option Term taking into account the age of the Building, the quality of construction of the Building and the Premises, the services provided under the terms of this Lease, the rental and other monetary payments, and any escalations and adjustments thereto (including without limitation Consumer Price Indexing) then being obtained for new leases of space comparable to the Premises in the locality of the Building and all other factors that would be relevant to a third party desiring to lease the Premises If Tenant exercises the Option, Landlord shall send to Tenant a notice setting forth the Fair Market Rental for the Premises for the Option Term, on or before the date that is one hundred fifty (150) days prior to the expiration date of the initial term. If Tenant disputes Landlord's determination of the Fair Market Rental for th...
OPTION TO EXTEND THE TERM. The parties hereby acknowledge and agree that Tenant did exercise the Option to Extend the Term of the Lease in accordance with the terms and conditions set forth in Addendum 1 of the Lease. Tenant further acknowledges and agrees that the Option to Extend the Lease as set forth in Addendum 1 is of no further force and effect, and Tenant does not have any additional rights under the Lease to further extend the Term of the Lease.
OPTION TO EXTEND THE TERM. OF THE CONTRACT (MAR 2000) (NAVSEA VARIATION) (APR 2015)
OPTION TO EXTEND THE TERM. OF THE CONTRACT (MAR 2000) para.
OPTION TO EXTEND THE TERM. Landlord grants to Tenant ------- ---- ------------------------- options to renew this Lease for six (6) separate but consecutive five (5) year terms. In order to exercise any such option the Tenant must be in full compliance with the terms of the Lease and must notify Landlord in writing at least one hundred eighty (180) days prior to the expiration of the then current term. The rates for the option periods are set forth on Schedule I attached ---------- hereto and made a part hereof. Tenant shall pay full Additional Rent (as described in Section 4.02) during any extension period. The Initial Term and any extended term may be referred to herein as the "Demised Term".
OPTION TO EXTEND THE TERM. OF THE CONTRACT (FAR 52.217-9) (MAR 2000)
OPTION TO EXTEND THE TERM. Tenant shall have the option to extend the Term for a period of one (1) year. If Tenant exercises said option, Tenant shall have the conditional right to extend the Term for a second extension period of one (1) year, as hereafter provided. The first such extension shall be referred to in this Lease as the "First Extended Term," the second such extension shall be referred to as the "Second Extended Term," and each such extension shall be referred to as an "Extended Term." If Tenant wishes to exercise an option to extend the Term, Tenant shall deliver written notice of such exercise to Landlord no later than 120 days before the expiration of the Term. If not exercised in this fashion, such options shall expire and be of no further effect. If one or more of said options are exercised, the "Term" shall be deemed to include the Initial Term and the Extended Term(s) as to which options are exercised and shall end on the last day thereof, unless sooner terminated pursuant to the terms of this Lease. The option is personal to Tenant and shall not be assigned except as provided below.
OPTION TO EXTEND THE TERM. OF THE CONTRACT (FAR 52.217-9) (MAR 2000)
(a) The Government may extend the term of this contract by written notice to the Contractor within 29 days of the end of the current period of performance; provided that the Government gives the Contractor a preliminary written notice of its intent to extend at least 30 days before the contract expires. The preliminary. notice does not commit the Government to an extension.
(b) If the Government exercises this option, the extended contract shall be considered to include this option clause.
(c) The total duration of this contract, including the exercise of any options under this clause, shall not exceed 2 years. (End of Clause)
OPTION TO EXTEND THE TERM. 6.1 The Tenant (which for the avoidance of doubt includes its successors and assigns) may at its option call for an extension of the Term by a period of 10 years and during that extended term by a further successive period of 10 years. If the Tenant exercises the first or both of these options the following shall have effect as applicable:
OPTION TO EXTEND THE TERM. So long as Tenant shall have never been in default hereunder, Tenant shall have the right, at its election, to extend the term of this lease for one (1) additional five (5) year period (the "Option Period") commencing upon the expiration of the Initial Term. Such election shall be exercised by Tenant giving Landlord notice that it desires to exercise its election at least twelve (12) months prior to the expiration of the Initial Term. If Tenant fails to so notify Landlord on or before twelve (12) months prior to expiration of the Initial Term, then Tenant shall be deemed to elected not to have exercised its option to extend the Term. Prior to the exercise by Tenant of any election to extend the Initial Term, the word "Term" or any equivalent expression shall mean the Initial Term as set forth in Section 1.1; after the exercise by Tenant of any such election, the word "Term" or any equivalent expression shall mean the Initial Term plus the Option Period. Except as expressly otherwise provided in this Lease, all agreements and conditions in this Lease contained shall apply to the additional period or periods to which the Initial Term shall be extended as aforesaid. If Tenant shall exercise its election to extend this Lease in the manner provided as aforesaid, the Term shall be extended without the requirement of any action on the part of Landlord.
