Common use of Option to Renew Term Clause in Contracts

Option to Renew Term. (a) Provided that no Event of Default has occurred under the Master Lease and provided that Tenant has not given Landlord a six (6) month notice of termination on or before the end of the Extended Term, Tenant shall be deemed to have extended the Term of this Master Lease for an additional ten (10) years subsequent to the Extended Term (the "SECOND EXTENDED TERM"). The Second Extended Term shall be on and subject to the same terms, covenants and conditions as herein contained, except for Base Rent, which shall be determined as hereinafter provided. (b) Annual Base Rent for the Second Extended Term shall be an amount equal to the "Fair Market Base Rental Rate", as determined by Landlord. Landlord shall notify Tenant in writing of its determination of Fair Market Base Rental Rate and the new proposed Base Rent at least ninety (90) days prior to the end of the Extended Term. If, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise of the option for the Second Extended Term at any time prior to or within thirty (30) days after the expiration of such forty-five (45) day period, and this option shall be canceled and of no further force and effect. If Tenant does not withdraw its exercise of the option by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term shall be in accordance with the terms of Landlord's proposal as set forth in its notice to Tenant or, if applicable, any subsequent modified proposal approved in writing by both Landlord and Tenant.

Option to Renew Term. (a) Provided that no Event Sublessee shall not be in material default of Default has occurred under any terms of conditions of this Sublease, as amended, at the Master Lease and provided that Tenant has not given Landlord a six (6) month notice time of termination on or before the end exercise of the particular Option to Extend as provided herein, Sublessee shall have the right and option to extend the existing Term covering 143,232 square feet and ending August 14, 2004, for one (1) five year period, such five year period is herein referred to as the "Extended Term, Tenant shall be deemed to have extended the Term of this Master Lease for an additional ten (10) years subsequent to the Extended Term (the "SECOND EXTENDED TERM"). ." The Second Extended Term shall be commence on and subject to the same terms, covenants and conditions day next following the Term Expiration Date for the preceding term unless sooner terminated as herein contained, except for Base Rent, which provided and shall be determined as hereinafter provided. (b) Annual Base Rent for terminate on the Second fifth anniversary of such Extended Term shall be an amount equal Commencement Date. Sublessee may exercise its right and option to extend the "Fair Market Base Rental Rate", as determined existing Term only by Landlord. Landlord shall notify Tenant in writing giving Sublessor written notice of its determination of Fair Market Base Rental Rate and the new proposed Base Rent intention to do so at least ninety one hundred and twenty (90120) days prior to the end of the Extended existing Term. If, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise of the option for the Second Extended Term at any time prior to or within thirty (30) days after the expiration of such forty-five (45) day period, and this option The Sublease as extended shall be canceled upon and of no further force and effect. If Tenant does not withdraw its exercise of the option by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term shall be in accordance with subject to the terms of Landlord's proposal as and conditions set forth in its notice the Primary Lease, as amended, except for exclusion of any free rent and, further, that the Rent (defined in Article Three), shall be adjusted as specified in Section C hereof. Sublessor agrees and covenants that: (a) Except for defaults committed by Sublessee, it will not commit or allow to Tenant orbe committed (and if committed, if applicableit will timely cure within the periods set forth in the Master Lease), any subsequent modified proposal approved event which would constitute an event of default under the Master Lease, including complying with an order or judgment of any court having jurisdiction, pursuant to a declaratory relief, or similar action whereby the obligation of a matter of performance under the Master Lease, involving, but not limited to, compliance with any subsequently enacted ordinances or laws concerning seismic retrofitting and/or repair to the Leased Premises, or any portion thereof, is disputed between Master Lessor and Sublessor, and such a court order or judgement determines that the performance in writing dispute is the obligation of Sublessor under the Master Lease. (b) That it will timely exercise its rights to extend the term of the Master Lease so that at all times the remaining term of the Master Lease is at least as long as the remaining term of the Sublease, as the same may be extended by both Landlord and TenantSublessee from time to time.

Option to Renew Term. (a) Provided that no Event of Default has occurred under the Master Lease and provided that Tenant has not given Landlord a six (6) month notice of termination on or before the end of the Extended Term, Tenant shall be deemed have the right and option to have extended renew and extend the Term term of this Master Lease for an additional ten one (101) extended term of five (5) years subsequent to the Extended Term (the "SECOND EXTENDED TERMExtended Term"). The Second Extended Term shall be on and subject to , upon the same terms, covenants terms and conditions as herein contained, except for Base Rent, which shall be determined as hereinafter provided. set forth herein below provided Tenant is not in default. The Extended Term shall commence on the day immediately succeeding the expiration date of the Primary Term, and shall end at midnight on the day immediately preceding the fifth (b5th) Annual anniversary of the first day of such Extended Term. Tenant shall exercise its right to lease the premises for the Extended Term by giving notice of such exercise to Landlord at least one hundred and eighty (180) days prior to the beginning of the Extended Term, provided Tenant shall not Xxxx any option to renew unless and until Tenant has had at least ten (10) days following receipt from Landlord of notice of the expiration of such option to renew in which to exercise its option to renew. Reference to the "term" of this Lease shall include the Extended Term. Base Rent for the Second Extended Term shall be determined by an amount equal appraisal to be performed by a mutually selected and qualified appraiser licensed by the State of North Carolina having a designation comparable to the "Fair Market Base Rental Rate"current M.A.I. standard who shall render a fair market/rental value. In the event that Landlord and Tenant cannot agree on the selection of an appraiser, as determined by Landlord. Landlord or a fair rental value each shall notify Tenant in writing of its determination of Fair Market Base Rental Rate select one appraiser and the new proposed Base Rent two so chosen shall select a third appraiser. The three appraisers shall arrive at least a single fair rental value by average, majority vote or such other method as the appraisers determine. The appraisal process shall be commenced in sufficient time so that it will be completed no later than ninety (90) days prior to the end lease term. The cost of the Extended Terminitial appraisal(s) shall be paid by Tenant. If, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved The fee for the second appraiser shall be paid by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise and the cost of the option for the Second Extended Term at any time prior to or within thirty (30) days after the expiration of such forty-five (45) day periodthird appraiser, and this option if necessary, shall be canceled and of no further force and effect. If Tenant does not withdraw its exercise of the option shared equally by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term shall be in accordance with the terms of Landlord's proposal as set forth in its notice to Tenant or, if applicable, any subsequent modified proposal approved in writing by both Landlord and Tenant.

Option to Renew Term. (a) Provided that no Event of Default has occurred under the Master Lease and provided that Tenant has not given Landlord a six (6) month notice of termination on or before the end Article XIII, Option to Renew Term of the Lease is hereby deleted in its entirety and replaced with the following: ''Provided the Tenant is not in default under this Lease, the Tenant shall have the right and option to renew and extend the term of this Lease for one (1) extended term of five (5) years (the ''Extended Term'') which shall commence on January 1, Tenant 2025 and shall be deemed to have extended the Term of this Master Lease for an additional ten (10) years subsequent to the Extended Term (the "SECOND EXTENDED TERM"). The Second Extended Term shall be terminate on and subject to December 31, 2029, upon the same terms, covenants terms and conditions as herein contained, provided for in the Lease except for the Base Rent, Rent which shall be determined as hereinafter provided. set forth herein below. Provided the Tenant is not in default under this Lease and provided the Tenant has exercised its option for the Extended Term, the Tenant shall have the right and option to a second renewal and extension of the term of this Lease for one (b1) Annual additional extended term of five (5) years (the ''Second Extended Term'') which shall commence on January 1, 2030 and shall terminate on December 31, 2034, upon the same terms and conditions provided for in the Lease except the Base Rent which shall be determined as set forth herein below. Tenant shall exercise its right to lease the Premises for the Extended Term and the Second Extended Term by giving written notice of such exercise to Landlord at least two hundred seventy (270) days prior to the beginning of the Extended Term or Second Extended Term, as applicable, provided Tenant shall not lose any option to either the Extended Term or the Second Extended Term unless and until Tenant has had at least ten (10) days following receipt of written notice from Landlord of the expiration of such option to the Extended Term or the Second Extended Term. Reference to the ''term'' of this Lease shall include the Extended Term and the Second Extended Term, as applicable. Base Rent for the Extended Term and the Second Extended Term shall be determined by an amount equal appraisal to be performed by a mutually selected and qualified appraiser licensed by the State of North Carolina having a designation comparable to the "Fair Market Base Rental Rate"current M.A.I. standard who shall render a fair market/rental value. In the event that the Landlord and Tenant cannot agree on the selection of an appraiser, as determined by Landlord. Landlord or a fair rental value each shall notify Tenant in writing of its determination of Fair Market Base Rental Rate select one appraiser and the new proposed Base Rent two so chosen shall select a third appraiser. The three appraisers shall arrive at least a single fair rental value by average, majority vote or such other method as the appraisers determine. The appraisal process shall be commenced in sufficient time so that it will be completed no later than ninety (90) days prior to the end expiration of the Extended Termthen applicable term. If, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise The costs of the option for the Second Extended Term at any time prior to or within thirty (30initial appraisal(s) days after the expiration of such forty-five (45) day period, and this option shall be canceled paid by Tenant. The Landlord and of no further force the Tenant shall each pay for its respective second appraiser and effect. If Tenant does not withdraw its exercise the cost of the option by the end of such thirty (30) day periodthird appraiser, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term if necessary, shall be in accordance with the terms of Landlord's proposal as set forth in its notice to Tenant or, if applicable, any subsequent modified proposal approved in writing shared equally by both Landlord and Tenant. Notwithstanding the foregoing, Landlord and Tenant acknowledge and agree that the Base Rent for the Extended Period shall not exceed 105% of the Base Rent applicable during the last month of the Primary Term."

Option to Renew Term. (a) Provided that no Event of Default has occurred So long as Tenant is not in default under the Master Lease and provided that Tenant has not given Landlord a six (6) month notice terms of termination on or before this Lease, both at the end time of the Extended Termexercise of this option to renew and at the expiration of the Initial Term of Lease, Tenant shall be deemed have an option to have extended extend the Term of this Master Lease for an additional ten (10) years subsequent the First Extended Term. So long as Tenant is not in default under the terms of this Lease, both at the time of the exercise of this option to renew and at the expiration of the First Extended Term (of this Lease, Tenant shall have an option to extend the "SECOND EXTENDED TERM")Term of this Lease for the Second Extended Term. So long as Tenant is not in default under the terms of this Lease, both at the time of the exercise of this option to renew and at the expiration of the Second Extended Term of this Lease, Tenant shall have an option to extend the Term of this Lease for the Third Extended Term. The Second Extended Term shall be on and subject to the same terms, covenants and conditions as herein contained, except . The option for Base Rent, which the First Extended Term shall be determined as hereinafter provided. exercised only by written notice from Tenant to Landlord and given no less than nine (b9) Annual Base Rent months prior to the expiration of the Initial Term. The option for the Second Extended Term shall be an amount equal exercised only by written notice from Tenant to the "Fair Market Base Rental Rate", as determined by Landlord. Landlord shall notify Tenant in writing of its determination of Fair Market Base Rental Rate and the new proposed Base Rent at least ninety given no less than nine (909) days months prior to the end expiration of the First Extended Term. If, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise of the The option for the Second Extended Term at any time prior to or within thirty (30) days after the expiration of such forty-five (45) day period, and this option shall be canceled and of no further force and effect. If Tenant does not withdraw its exercise of the option by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Third Extended Term shall be in accordance with the terms of Landlord's proposal as set forth in its exercised only by written notice from Tenant to Tenant or, if applicable, any subsequent modified proposal approved in writing by both Landlord and Tenantgiven no less than nine (9) months prior to the expiration of the Second Extended Term.

Option to Renew Term. Provided Sublessee shall not be in material default of any terms or conditions of the Sublease at the time of the exercise of the particular Option to Extend provided herein, Tenant shall have the right and option to extend the Initial Term for one (a1) Provided that no Event three (3) year period, herein referred to as the “Extended Term”, ending concurrently with the termination of Default has occurred under the Master Lease on January 31, 2015. Future extended terms shall commence on the day next following the term expiration date for the preceding initial term or extended term, unless sooner terminated as herein provided, and provided that shall terminate on the third anniversary of such extended term commencement date. Tenant has not given may exercise its right to extend the initial term only by giving Landlord a six (6) month written notice of termination on or before the end of the Extended Termits intention to do so, Tenant shall be deemed to have extended the Term of this Master Lease for an additional ten (10) years subsequent to the Extended Term (the "SECOND EXTENDED TERM"). The Second Extended Term shall be on and subject to the same terms, covenants and conditions as herein contained, except for Base Rent, which shall be determined as hereinafter provided. (b) Annual Base Rent for the Second Extended Term shall be an amount equal to the "Fair Market Base Rental Rate", as determined by Landlord. Landlord shall notify Tenant in writing of its determination of Fair Market Base Rental Rate and the new proposed Base Rent at least ninety one hundred eighty (90180) days prior to the end of the Extended Terminitial term. IfThe Sublease as extended shall be upon, within forty-five (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing subject to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise of the option terms and conditions set forth herein for the Second Extended Term at initial term, except for the exclusion of any time prior to or within thirty (30) days after free rent, and, further, that the expiration of such forty-five (45) day period, and this option rent as defined below shall be canceled as specified in Section 2 hereon. Landlord agrees and of no further force covenants that: (a) Except for defaults committed by Sublessee, it will not commit or allow to be committed (and effect. If Tenant does not withdraw its exercise of if committed, it will timely cure within the option by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term shall be in accordance with the terms of Landlord's proposal as periods set forth in its notice to Tenant or, if applicablethe Master Lease), any subsequent modified proposal approved event which would constitute an event of default under the Master lease, including complying with an order or judgment of any court having jurisdiction, pursuant to a declaratory relief, or similar action whereby the obligation of a matter of performance under the Master Lease, involving, but not limited to compliance with any subsequently enacted ordinances or laws concerning seismic retrofitting and or repair to the Leased Premises, or any portion thereof, is disputed between Master Lessor and Sublessor, and such a court order or judgement determines that the performance in writing dispute is the obligation of Sublessor under the Master Lease. (b) That it will timely exercise its rights to extend the term of the Master Lease so that at all times the remaining term of the Master Lease is at least as long as the remaining term of this Sublease, as the same may be extended by both Landlord and TenantSublessee from time-to-time.

Option to Renew Term. (a) Provided that no Event of Default has shall have occurred under hereunder and is continuing, either on the Master Lease and provided that date Tenant has not given gives Landlord a six (6) month the renewal notice of termination on required herein or before at the end of the Extended Term, Tenant shall be deemed to have extended the initial Term of this Master Lease, Landlord hereby grants to Tenant two (2) consecutive options to renew this Lease for an additional five (5) years each. Such option to renew must be exercised by giving written notice to Landlord at least nine (9) months but no more than twelve (12) months prior to the termination of either the initial Term of this Lease or any renewal term thereof. Subject to the terms set forth herein, once a notice to exercise is given it is irrevocable by Tenant. If Tenant elects to exercise such renewal option, then such renewal term shall be on the same terms and conditions as contained in this Lease, except that Base Rental shall be at 95% of the then prevailing market rental rates ("Market Rent") applicable to tenants of comparable financial status, for properties of comparable age, use and Dulles Toll Road frontage, signage, location and transactions of comparable size, duration and location and factoring in all then market lease concessions, allowances, and brokerage commissions. If Landlord and Tenant cannot agree on renewal terms, Tenant can, upon written notice to Landlord, within five (5) business days after receipt of Landlord's written statement of the proposed Market Rent, (i) withdraw its option to renew or (ii) elect to utilize the three-broker method outlined in Section 2.4(b). Upon being apprised in writing of the renewal terms resulting from the three broker method, Tenant must exercise its renewal option within five (5) business days; provided however, if (x) at the time such determination of renewal terms is provided to Tenant at least nine (9) months remain on the then applicable term of this Lease, and (y) Tenant agrees to reimburse Landlord for all costs related to the three-broker method, then Tenant may, within five (5) business days, withdraw its option to renew. Except for the Switch Space, Tenant's renewal rights may be for less than the entire Leased Premises, provided that Tenant renews the Lease for the equivalent of at least two (2) full floors of the Building. In the event Tenant exercises its option to renew, all other terms of this Lease shall remain the same. As used throughout this Lease, any reference to the "lease term", "term", or "term of this Lease" shall also include any and all renewal terms. (b) If Tenant elects to use the three-broker method, then the Market Rent will be determined by a board of three (3) licensed real estate brokers. Landlord and Tenant shall each appoint one (1) broker within ten (10) days after either party elects the three broker method. The two so appointed shall select a third within fifteen (15) days after they both have been appointed. Each broker on said board shall be licensed in the Commonwealth of Virginia as a real estate broker, specializing in the field of commercial leasing in Fairfax County having no less than ten (10) years subsequent to the Extended Term (the "SECOND EXTENDED TERM")experience in such field, and recognized as ethical and reputable within his or her field. The Second Extended Term shall be on and subject to the same terms, covenants and conditions as herein contained, except for Base Rent, which shall be determined as hereinafter provided. (b) Annual Base Rent for the Second Extended Term shall be an amount equal to the "Fair Market Base Rental Rate", as determined by Landlord. Landlord shall notify Tenant in writing of its determination of Fair Market Base Rental Rate and the new proposed Base Rent at least ninety (90) days prior to the end of the Extended Term. IfEach broker, within forty-five fifteen (45) days after Tenant's receipt of Landlord's notice and proposal, Tenant does not agree in writing to Landlord's proposal or a modified version thereof subsequently approved by Landlord in writing, Tenant by written notice to Landlord, may withdraw its exercise of the option for the Second Extended Term at any time prior to or within thirty (3015) days after the expiration third broker is selected, shall submit his or her determination of Market Rent. Market Rent shall be the mean of the two closest rental rate determinations. Landlord and Tenant shall each pay the fee of the broker selected by it and they shall share the payment of the fee of the third broker. (c) It is a condition precedent to the exercise of Tenant's rights under this Section 2.4 that at the time of such forty-five (45) day periodexercise, and this option shall be canceled and of there exists no further force and effect. If Tenant does not withdraw its exercise of the option by the end of such thirty (30) day period, then the new Base Rent and provisions for periodic adjustment for the Second Extended Term shall be material adverse change in accordance with the terms of LandlordTenant's proposal as and/or Guarantor's financial condition from that set forth in its notice to Tenant or, if applicable, any subsequent modified proposal approved in writing by both Landlord and Tenant.the Net2000 financial statements for