Common use of Options to Extend Lease Term Clause in Contracts

Options to Extend Lease Term. So long as no Event of Default exists at the time Tenant delivers the applicable Extension Notice (as defined below), Landlord hereby grants to Tenant the right, exercisable at Tenant’s option, to renew the term of this Lease for three successive terms of 10 years each (each, a “Extension Term”; collectively, the “Extension Terms”). Tenant shall exercise its right of renewal with respect to an Extension Term by giving Landlord written notice (an “Extension Notice”) at least 12 months prior to the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an Extension Term, Tenant shall not forfeit or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of this Lease, including, without limitation, all provisions governing the payment of Base Rent and Additional Rent, shall remain in full force and effect during any exercised Extension Term(s). If there exists an Event of Default under this Lease on the date Tenant sends a Renewal Notice or any time thereafter until the proposed Renewal Term commences, at Landlord’s election, such Renewal Term shall not commence. If Tenant’s right of renewal with respect to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal notice), then Tenant’s right of renewal with respect to any subsequent Renewal Term shall automatically lapse and be of no further force or effect.

Options to Extend Lease Term. So long 41.01 Tenant is hereby granted the options (each, an "Extension Option," and collectively, the "Extension Options") to extend the Lease Term for two (2) additional periods of five (5) years (each, an "Extension Term," and collectively, the "Extension Terms"), each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant only by delivery of written notice of such exercise (the "Extension Notice") to Landlord, which Extension Notice must be received by Landlord at least two hundred twenty-five (225) days before the expiration of the Initial Lease Term or the first Extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to the expiration of the Initial Lease Term or the first Extension Term, as applicable, all remaining Extension Options shall lapse, and Tenant shall have no Event of Default exists right to extend or further extend the Lease Term. The Extension Options shall be exercisable by Tenant on the express conditions that (i) at the time Tenant delivers the applicable of delivery of Tenant's Extension Notice (as defined below), Landlord hereby grants to Tenant the right, exercisable and at Tenant’s option, to renew the term of this Lease for three successive terms of 10 years each (each, a “Extension Term”; collectively, the “Extension Terms”). Tenant shall exercise its right of renewal with respect to an Extension Term by giving Landlord written notice (an “Extension Notice”) at least 12 months all times thereafter and prior to the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an applicable Extension Term, Tenant shall not forfeit or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of monetary default under this Lease, including, without limitation, all provisions governing the payment of Base Rent and Additional Rent, shall remain (ii) Tenant has not previously been in full force and effect during any exercised Extension Term(s). If there exists an Event of Default monetary default (whether or not such default has been timely cured) under this Lease on more than three (3) occasions during the date Lease Term, and (iii) except for a Permitted Assignment, Tenant sends a Renewal Notice has not assigned this Lease, sublet all or any time thereafter until part of the proposed Renewal Term commencesPremises, at Landlord’s electionor otherwise Transferred this Lease, it being understood that, except in the case of a Permitted Assignment, the Extension Options are personal to the original named Tenant under this Lease. In the event of any such Renewal Term assignment, sublease, or other Transfer other than a Permitted Assignment, all unexercised Extension Options shall not commence. If Tenant’s right of renewal with respect to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal notice), then Tenant’s right of renewal with respect to any subsequent Renewal Term shall automatically lapse and shall be null and void and of no further force or effect. After agreement by Landlord and Tenant on the Base Monthly Rent as provided in Section 41.02 below, Tenant's obligation to renew shall be irrevocable by Tenant.

Options to Extend Lease Term. So long 41.01 Tenant is hereby granted two (2) options (each, an "Extension Option," and collectively, the "Extension Options,") to extend the Lease Term for an additional term of five (5) years (each, an "Extension Term" and collectively, the "Extension Terms") each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant only by delivery of written notice of such exercise (the "Extension Notice") to Landlord, which Extension Notice must be received by Landlord at least one hundred eighty (180) days before the expiration of the Initial Lease Term, or the first extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to the expiration of the Initial Lease Term or the first Extension Term, as the case may be, all remaining Extension Options shall lapse, and Tenant shall have no Event of Default exists right to extend or further extend the Lease Term. Each Extension Option shall be exercisable by Tenant on the express conditions that (i) at the time Tenant delivers the applicable of delivery of Tenant's Extension Notice (as defined below), Landlord hereby grants to Tenant the right, exercisable and at Tenant’s option, to renew the term of this Lease for three successive terms of 10 years each (each, a “Extension Term”; collectively, the “Extension Terms”). Tenant shall exercise its right of renewal with respect to an Extension Term by giving Landlord written notice (an “Extension Notice”) at least 12 months all times thereafter and prior to the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an applicable Extension Term, Tenant shall not forfeit or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of default under this Lease, including, without limitation, all provisions governing the payment of Base Rent and Additional Rent, shall remain (ii) Tenant has not previously been in full force and effect during any exercised Extension Term(s). If there exists an Event of Default default (whether or not such default has been timely cured) under this Lease on more than three (3) occasions during the date Lease Term, and (iii) Tenant sends a Renewal Notice or any time thereafter until has exercised the proposed Renewal Term commences, at Landlord’s election, such Renewal Term shall not commence. If Tenant’s right of renewal with respect to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal notice), then Tenant’s right of renewal with respect to any subsequent Renewal Term shall automatically lapse and be of no further force or effect.concurrent "

Options to Extend Lease Term. So long as no Event Provided (i) Tenant is not in default under the terms of Default exists this Lease at the time each renewal option is exercised beyond applicable cure periods, and (ii) Tenant delivers the applicable Extension Notice or a Permitted Transferee (as defined below)in Section 18.06 above) is occupying the entire Premises, Landlord hereby grants to including any expansion space, Tenant the right, exercisable at Tenant’s option, shall have two (2) options to renew the term of this Lease for three successive terms an additional period of 10 years sixty (60) months each (eachindividually, a “Extension Term”the "FIRST EXTENSION TERM" and "SECOND EXTENSION TERM"; or an "EXTENSION TERM"; and collectively, the “Extension Terms”"EXTENSION TERMS"). Tenant The Extension Terms shall exercise its right of renewal with respect to an Extension Term by giving Landlord written notice (an “Extension Notice”) at least 12 months prior to be on all the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an Extension Term, Tenant shall not forfeit or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of this Lease, includingexcept that Landlord shall have no additional obligation for free rent, without limitationleasehold improvements or for any other tenant inducements for the Extension Terms and, all provisions governing effective as of the payment first day of each Extension Term, the Base Rent and Additional Rent, in effect immediately before each such extension period shall remain in full force and effect during any exercised be increased (but not decreased) to an amount equal to ninety-five percent (95%) of the fair market rental rate as (hereinafter defined) for each Extension Term(s)Term. If there exists an Event of Default under There shall be no additional extension terms beyond the Extension Terms set forth herein. Tenant must exercise its options to extend this Lease on by giving Landlord written notice of its election to do so no later than one hundred eighty (180) days nor earlier than three hundred sixty (360) days prior to the date end of the initial Term, or the First Extension Term, as applicable. Any notice not given in a timely manner shall be void, and Tenant sends a Renewal Notice or any time thereafter until shall be deemed to have waived its extension rights. The Extension Options set forth herein are personal to the proposed Renewal Term commences, at Landlord’s election, such Renewal Term original Tenant executing this Lease ("ORIGINAL TENANT") and shall not commence. If Tenant’s right be included in any assignment of renewal with respect this Lease (other than an assignment to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal noticePermitted Transferee), then Tenant’s right of renewal with respect to any subsequent Renewal Term shall automatically lapse and be of no further force or effect.

Options to Extend Lease Term. So long as no Event 41.01 Tenant is hereby granted the options (each, an “Extension Option,” and collectively, the “Extension Options”) to extend the Lease Term for two (2) additional periods of Default exists at the time Tenant delivers the applicable Extension Notice five (as defined below), Landlord hereby grants to Tenant the right, exercisable at Tenant’s option, to renew the term of this Lease for three successive terms of 10 5) years each (each, a an “Extension Term”; ,” and collectively, the “Extension Terms”), each beginning on the day after expiration of the Initial Lease Term or the first Extension Term, as the case may be, and expiring on the date five (5) years thereafter (unless terminated sooner pursuant to any other terms or provisions of the Lease), on all of the same terms and conditions as set forth in the Lease, but at an adjusted Base Monthly Rent as set forth in Section 41.02 below (and without any additional option to extend the Lease Term after the expiration of the second Extension Term). The Extension Options may be exercised by Tenant shall exercise its right only by the giving of renewal with respect to an Extension Term by giving Landlord written notice of such exercise (an the “Extension Notice”) to Landlord at least 12 months one hundred eighty (180) days before the expiration of the Initial Lease Term or the first Extension Term, as applicable. If Tenant fails to timely deliver the Extension Notice, or if this Lease is terminated pursuant to any of its other terms or provisions prior to the expiration of the Initial Lease Term or the first Extension Term, as applicable, all remaining Extension Options shall lapse, and Tenant shall have no right to extend or further extend the Lease Term. The Extension Options shall be exercisable by Tenant on the express condition that at the time of delivery of Tenant’s Extension Notice and at all times thereafter and prior to the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an applicable Extension Term, Tenant shall not forfeit or be deemed to have waived its right to exercise such Extension Period unless and until Tenant has received written notice of Tenant’s failure to exercise the Extension Period during the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of this Lease, including, without limitation, all provisions governing the payment of Base Rent and Additional Rent, shall remain in full force and effect during any exercised Extension Term(s). If there exists an Event of Default default under this Lease on beyond any applicable cure period(s). In the date Tenant sends a Renewal Notice or event of the failure of any time thereafter until the proposed Renewal Term commencessuch conditions, at Landlord’s election, such Renewal Term all unexercised Extension Options shall not commence. If Tenant’s right of renewal with respect to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal notice), then Tenant’s right of renewal with respect to any subsequent Renewal Term shall automatically lapse and shall be null and void and of no further force or effect. After exercise of each Extension Option by Tenant in accordance with the foregoing provisions, Xxxxxx’s obligation to renew shall be irrevocable by Tenant.

Options to Extend Lease Term. So long as no Event of Default exists at the time Tenant delivers the applicable Extension Notice (as defined below), a) Landlord hereby grants to Tenant three (3) options (the right"Options") to extend the Lease Term for additional term(s) of either ten (10) years or twenty (20) years (the "Extension(s)"), exercisable on the same terms and conditions as set forth in this Lease, but at Tenant’s optionan increased Base Rent as set forth below and without any additional Option(s) other than those granted in this Section 2.05, to renew and except that the term obligations of Landlord set forth in Section 7.02 of this Lease shall not be applicable and shall not be in force for any Extensions. Each Option shall be exercised only by written notice delivered to Landlord not less than three successive terms hundred sixty five (365) days before the expiration of 10 years each (eachthe initial Lease Term or the preceding Extension of the Lease Term, a “Extension Term”; collectivelyrespectively, which notice shall also state the “Extension Terms”)duration of the subject Extension. If Tenant shall exercise its right of renewal with respect fails to an Extension Term by giving deliver Landlord written notice (of the exercise of an “Extension Notice”) Option within the prescribed time period, such Option and any succeeding Options shall lapse, and there shall be no further right to extend the Lease Term. Each Option shall be exercisable by Tenant on the express conditions that at least 12 months the time of the exercise, and at all times thereafter and prior to the commencement date of the Extension Term; provided, however, if Tenant fails to timely provide an exercise notice with respect to an Extension Termsuch Extension, Tenant shall not forfeit or be deemed in default under any of the provisions of this Lease beyond the expiration of any applicable notice and/or cure periods. Following Tenant's timely and valid exercise of an Option, Landlord shall prepare and Tenant shall execute and deliver to have waived its right Landlord an amendment to exercise such Extension Period unless and until Tenant has received written notice this Lease confirming the term of Tenant’s failure to exercise the Extension Period during and the initial notice period and thereafter failed, within 10 days after receipt of such notice, to exercise such Extension Period in writing. All terms and conditions of this Lease, including, without limitation, all provisions governing the payment amount of Base Rent and Additional Rent, shall remain in full force and effect payable by Tenant during any exercised Extension Term(s)such Extension. If there exists an Event Time is of Default under this Lease on the date Tenant sends a Renewal Notice or any time thereafter until the proposed Renewal Term commences, at Landlord’s election, such Renewal Term shall not commence. If Tenant’s right of renewal essence with respect to a Renewal Term lapses for any reason (including without limitation, Tenant’s failure to timely provide a renewal notice), then Tenant’s right 's exercise of renewal with respect to any subsequent Renewal Term shall automatically lapse and be of no further force or effectthe Option(s) granted in this Section 2.05.