Common use of Options to Extend Term Clause in Contracts

Options to Extend Term. Tenant shall have the option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) 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 eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term of this Lease beyond its prescribed term.

Options to Extend Term. Landlord grants to Tenant shall have the option following options (each an “Extension Option”) to extend the Term of (each an “Extended Term”) on all the provisions contained in this Lease (with the exception of any Extension Options exercised under this Section 2(a)): ( ) options to extend the Term each for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(ban additional term of ( ) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to months commencing when the initial term of this Lease, for up to two (2) additional periods of ten (10) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended termor then-existing Extended Term, if anyapplicable, expires. Exercise Tenant may exercise its option(s) of such option with respect to the first such extended term shall be extension by giving written notice to Landlord at least eighteen one hundred eighty (18180) months prior to days before the expiration of the initial term hereofTerm or Extended Term, as the case may be (the “Exercise Deadline”). The time of such exercise being of the essence and, therefore, if Tenant fails to give Landlord its irrevocable written notice of its exercise of the applicable Extension Option within the applicable Exercise Deadline, then such option Extension Option shall expire and be of no further force or effect and the Term (or the then-existing Extension Term, as applicable) shall expire on the Expiration Date (otherwise then applicable). Subject to the provisions of this Section 2.a, upon the giving of suhch notice, this Lease and the Term (or then Extended Term, as applicable) shall be extended without execution or delivery of any other or further documents, with the same force and effect as if the applicable Extended Term had originally been included in the Term, except that the Rental Component of the Occupancy Cost shall be as set forth in Section 3.a. Notwithstanding the foregoing: (i) an Extension Option shall be exercised by Tenant, if at all, only with respect to the entire Premises; (ii) if there are more than one Extension Options, then all such Extension Options must be exercised consecutively (i.e., a second extended term, and any additional Extension Option may be exercised only if the first extension option has and any additional preceding Extension Options, as applicable, have been duly exercised, shall be exercised by written notice to Landlord Tenant); and (iii) if there is any uncured default by Tenant either at least eighteen (18) months prior to the expiration time Tenant exercises an Extension Option or upon the commencement of the first extended term hereof. If Tenant is applicable Extended Term, Landlord shall have, in material default hereunderaddition to all of Landlord’s other rights and remedies provided in this Lease, beyond any applicable notice the right to terminate such Extension Option and cure periods, on the date to nullify unilaterally Tenant’s exercise of such notice or on the date any extended term is to commenceExtension Option, then the exercise of the option shall be of no force or effect, the extended term shall not commence and in which event this Lease shall expire at on the end of the Expiration Date (otherwise then current term hereof (or at such earlier time as Landlord may elect applicable), unless this Lease is sooner terminated pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Sectionits terms, 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, and Tenant shall have no right further rights under this Lease to renew or extend the Term of this Lease beyond its prescribed termTerm.

Options to Extend Term. Tenant shall have the option to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental minimum rental set forth in Section 3.1(b) and (c), below, 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 ten five (105) years each, the first such period commencing upon the expiration of the initial term hereof and and, if such first extension period is duly elected by Tenant, the second such period 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 eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the initial term hereof, exercise in the case of such option with respect to the second first extended term, if the first extension option has been duly exercised, shall be by written notice to Landlord and at least eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the first extended term hereof, in the case of the second extended term (if applicable). If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any the applicable extended term is to commence, then the exercise of the option shall be of no force or effect, the applicable 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term term of this Lease beyond its prescribed term.

Options to Extend Term. Tenant shall have the option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) 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 eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term of this Lease beyond its prescribed term.

Options to Extend Term. Tenant shall have the option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to is hereby given two (2) additional periods successive options of ten five (105) years eacheach to extend the Extended Term of the Lease on all of the provisions contained in the Lease, the first commencing upon except for Base Rent, following the expiration of the initial term hereof and the second commencing upon the expiration of the first extended termExtended Term (each, if anyan “Option Period”). Exercise of such To exercise an option with respect to the first such extended term for an Option Period, Tenant shall be by give Landlord written notice to Landlord at least eighteen of its election not less than six (186) months nor more than one (1) year prior to the expiration of the initial term hereofExtended Term or the then-current Option Period, as the case may be. Upon timely and proper exercise of such option with respect to a renewal option, the second extended term, if the first extension option has been duly exercised, Option Period shall be by written notice to Landlord at least eighteen (18) months prior to commence immediately following the expiration of the first extended Extended Term or the then-current Option Period. Time is of the essence of this option provision, and a material term hereof. If Tenant is fails to exercise a renewal option granted herein within the time period set forth herein, and by written notice in material default hereunderthe manner set forth herein, beyond any applicable notice and cure periods, on the date of such notice or on the date any extended term is to commence, then the exercise of Tenant’s right in the option and any future options shall be null, void, and of no further force or effect, and effect and the extended term shall not commence and this Lease shall expire at the end of the then then-current term hereof (or at such earlier time as Landlord may elect pursuant term. Tenant’s right to exercise any option and the effectiveness of any notice of exercise of any option is, in each instance, subject 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 following conditions precedent: (other than in this Section 2.6a) to the “term” of this The Lease shall be construed to include in full force and effect at the extension term(stime notice of exercise of the renewal option is given. (b) thus elected by Tenant. Except as expressly set forth The Lease shall be in this Section 2.6, full force and effect on the last day of the term during which notice of exercise of the renewal option is given. (c) Tenant shall have no right to extend exercise any renewal option during the Term period commencing on the day Landlord gives to Tenant a notice of this Lease beyond its prescribed termdefault and continuing until the default alleged in said notice of default is cured to Landlord’s satisfaction; or during the period commencing on the day after any unpaid monetary obligation of Tenant to Landlord is due, without any necessity for notice thereof to Tenant, and continuing until said monetary obligation is paid in full.

Options to Extend Term. Tenant shall have the option to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental minimum rental set forth in Section 3.1(b3.l (b) and or (c), below, ) (as applicable) 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 ten five (105) years each, the first such period commencing upon the expiration of the initial term hereof and and, if such first extension period is duly elected by Tenant, the second such period 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 eighteen nine (189) months and not more than twelve (12) 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 extended term is duly exercisedelected by Tenant, shall be by written notice to Landlord at least eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the first extended term hereofterm. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any the applicable extended term is to commence, then the exercise of the applicable option shall be of no force or effect, the applicable 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term term of this Lease beyond its prescribed term.

Options to Extend Term. a. If this Lease is not otherwise terminated pursuant to its terms or by law, Tenant shall have the a recurring option (“Option”) to extend the Term for successive periods of this twenty Lease for Phase 1A and Phase 1B only Years (but not Phase 2Aeach twenty-year period is an “Extension Term”), provided that no Event of Default of Tenant shall have occurred and be continuing on the date the Option is exercised. Tenant shall be deemed to have automatically exercised each Option unless Tenant elects not to exercise an Option by giving City notice to such effect at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) years each, the first commencing upon the least 180 days before expiration of the initial term hereof and the second commencing then-current Term, in which event this Lease shall terminate upon the expiration of the first extended term, if any. Exercise of such option with respect then-current Term. b. If an Option would otherwise cause the Term to extend more than 66 Lease Years after the first such extended term shall be by written notice to Landlord at least eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any extended term is to commenceCommencement Date, then the exercise of the option Term shall be extended only to the date 66 Lease Years after the Commencement Date. c. On the first day of no force or effecteach Extension Term (each an “Extension Date”), the extended term amount of monthly Base Rent shall not commence and be adjusted as provided in Section 8.b through Section 8.j below. In all other respects this Lease shall expire at remain unchanged and in full force and effect during each Extension Term. The Extension Dates shall be on the end 20th, 40th, and 60th anniversaries 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 this Lease beyond its prescribed termCommencement Date.

Options to Extend Term. Tenant So long as Lessee occupies at least seventy five percent (75%) of the Leased Improvements, and subject to the condition set forth in clause (b) below, Lessee shall have the option two options to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term entirety of the Leased Property on all of the terms, covenants and conditions of this Lease, for up to two Lease (2) additional periods of ten (10) years eacheach an “Extension Option”), the first commencing upon for a period of five (5) years from the expiration of the initial term hereof fifteenth (15th) full year of the Lease Term (the “First Extension Period”), and the second commencing upon (the “Second Extension Period”) for a period of five (5) years from the expiration of the first extended termFirst Extension Period, subject to the following conditions: (a) Each Extension Option shall be exercised, if anyat all, by notice of exercise given to Lessor by Lessee not more than sixty (60) days after receipt of the final written determination of the Fair Market Rent for the applicable Extension Period (each a “Rent Notice”). Exercise The determination of such option the Fair Market Rent shall only be given by Lessor to Lessee simultaneous with respect the delivery to Lessee by Lessor of the determination of the FMV of the Leased Property being given pursuant to Section 34 of this Lease; (b) Anything herein to the first such extended term shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended termcontrary notwithstanding, if an Event of Default by Lessee has occurred, either at the first time Lessee exercises either extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the commencement date any extended term is to commence, then the exercise of the option First Extension Period or the Second Extension Period, as applicable, Lessor shall be have, in addition to all of no force or effectLessor’s other rights and remedies provided in this Lease, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at right to terminate 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 2.6option(s) to the “term” of this Lease shall be construed extend upon notice 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 this Lease beyond its prescribed termLessee.

Options to Extend Term. Tenant Lessee shall have two (2) options (the option "Extension Option(s)"), to extend the Term of this Lease for Phase 1A an additional five (5) years each (the "Extension Term(s)"). The Extension Options shall be subject to the following terms and Phase 1B only conditions: (but a) Lessee shall give Lessor written notice of its election to exercise such Extension Option(s) no less than twelve (12) months in advance of the then current Term Expiration Date, time being of the essence; and (b) Lessee may not Phase 2A), at exercise the Minimum Rental set forth in Section 3.1(b) and Second Extension Option unless it has previously exercised the First Extension Option; and (c), below, and otherwise upon all ) Lessee shall not be in default under the terms of this Lease (beyond applicable grace, notice and provisions set forth herein cure periods) either on the date that Lessee exercises the Extension Option, or, unless waived in writing by the Lessor, on the Expiration Date of the then current Term; and (d) For years 1-2 of each Extension Term, the net base rental rate shall remain flat and unchanged from the prior end-of-Term rate. On each anniversaryfor each subsequent year of the Extension Term, the net base rate shall increase annually by $0.10 per RSF; and (e) Lessee shall continue in occupancy and accept the Premises on the commencement date of the Extension Term in its “as-is” “where is” condition and configuration, without any warranty, allowance, abatement, adjustment or credit from Lessor with respect to the initial term condition or improvement thereof; and (f) Promptly following Lessee’s exercise of its Extension Option, Lessor shall acknowledge said proper exercise and provide Lessee with a confirming amendment and/or estoppel certificate to document the extension of the Lease Term upon the terms and conditions provided for herein, which conforming documentation shall be executed by the parties within fifteen (15) days after the date upon which Lessee exercises its Extension Option. Except as set forth above, or as may otherwise be inconsistent with the terms hereof, all of the terms, conditions and provisions of this Lease, for up Lease shall continue to two (2) additional periods of ten (10) years each, the first commencing upon the expiration of the initial term hereof apply and the second commencing upon the expiration of the first extended term, if any. Exercise of such option continue in effect during and with respect to the first such extended term shall be by written notice to Landlord at least eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term of this Lease beyond its prescribed termExtension Term.

Options to Extend Term. Subject to the remaining provisions of ---------------------- this Paragraph 2.3 and Paragraph 3.7 below, Tenant shall have the two (2) options (each such option herein called an "Option") to extend the Term for a period of this Lease for Phase 1A and Phase 1B only five (but not Phase 2A5) years (each such five year period herein called an "Extended Term"). Each Option shall be exercised by Tenant, if at all, by delivery to Landlord of notice of such election to extend no later than three hundred sixty five (365) days prior to the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all then scheduled expiration date of the terms and provisions set forth herein Term. Time is of the essence with respect to the initial term date of this Lease, for up to two (2) additional periods of ten (10) 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 eighteen (18) months prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended termeach Option. Any exercise by Tenant of an Option, if the first extension option has been duly exercisedonce made, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunderirrevocable, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend rescind or revoke such Option exercise. At Landlord's sole and absolute election, to be exercised if at all by delivery of notice to Tenant that the Option exercise is invalid by the date which is no more than ninety (90) days after Tenant delivers notice to Landlord that Tenant is exercising the Option, a purported exercise by Tenant of an Option shall have no force or effect if: (a) an Event of Default exists at the time of the purported Option exercise, (b) Tenant is attempting to exercise the second Option, but the first Option has not been exercised, or (c) two or more Events of Default have occurred within the three (3) year period of time immediately preceding Tenant's purported exercise of the Option. Each Extended Term shall be upon all of the terms and conditions of this Lease, except that the monthly Base Rent for such Extended Term shall be determined in accordance with Paragraph 3.7, and except that in no event shall there be more than the two Extended Terms provided in this Paragraph 2.3 (i.e., the Term shall not be extended to exceed an aggregate of twenty (20) years from the Rent Commencement Date). Upon commencement of any Extended Term, all references herein to the "Term" of this Lease beyond its prescribed termshall be deemed to include such Extended Term.

Options to Extend Term. Subject to the terms and conditions herein, and provided Tenant has not been in default hereunder beyond any applicable notice and cure period, Tenant shall have the option to extend renew the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, the lease of the Premises for up to two three (23) additional option periods of ten five (105) years each, with each such renewal commencing on the first commencing upon then applicable lease termination date. Renewal will be at the expiration same terms and conditions as provided elsewhere herein, except the Initial Fixed Annual Rent shall increase by the lesser of: (i) ten percent (10%) over the Initial Fixed Annual Rent applicable for the then expiring term, as reflected in Exhibit “D” attached hereto, or (ii) the cumulative increase for the Consumer Price Index - All Urban Consumers, U. S. All Items 1982-84 = 100 (the “Index”), from (i) as to the First Extension option, the date of the initial term hereof and original lease to the second commencing upon the expiration date of the first extended termextension, if any. Exercise of such option with respect and (ii) as to the first such extended Second and Third Extension Options, the increase in the Index from the prior lease term shall be by written notice expiration to Landlord at least eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on renewal. Tenant shall inform Landlord in writing of its election to extend the date any extended lease term is at least one hundred eighty (180) days prior 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 expiring Term. In the event Tenant fails to notify Landlord may elect pursuant in writing of its intent 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 exercise its option to extend the Term Term, Landlord is under no obligation to extend the term of this Lease beyond its prescribed termthe Lease.

Options to Extend Term. Provided that Tenant is not then in default under this Lease beyond any applicable notice and cure period, Tenant shall have be entitled to extend the Term of this Lease for two (2) successive terms (each of which is herein referred to as an “Extension Term”) of five (5) lease years each. The first Extension Term shall commence (if properly exercised) immediately upon the expiration of the Initial Term, and the second Extension Term shall commence (if properly exercised) immediately upon the expiration of the first Extension Term. In order to exercise an option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)as provided herein, at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) 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 Tenant shall give Landlord written notice of such option with respect to the first such extended term shall be by written notice to Landlord at least eighteen exercise not less than one hundred eighty (18180) months days prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended term, if Initial Term or the first extension option has been duly exercisedExtension Term, shall be by written notice to Landlord at least eighteen as applicable (18) months prior to the expiration “Renewal Notice”). All of the first extended term hereof. If Tenant is terms and conditions contained in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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 applicable and shall continue in full force and effect during an Extension Term. In the extension term(s) thus elected by Tenant. Except as expressly set forth in this Section 2.6, event Tenant shall have no right does not timely or properly exercise an option to extend the Term of this Lease beyond its prescribed termin accordance with the foregoing, then the subject option and all future options to extend the Term of this Lease as provided above shall become null and void and be of no further force or effect. For the avoidance of doubt, the Term shall include all Extension Terms properly exercised by Tenant as set forth in this Section 3.03.

Options to Extend Term. Provided that Tenant is not then in default under this Lease beyond any applicable notice and cure period, Tenant shall have be entitled to extend the Term of this Lease for four (4) successive terms (each of which is herein referred to as an “Extension Term”) of five (5) lease years each. The first Extension Term shall commence (if properly exercised) immediately upon the expiration of the Initial Term, and each following Extension Term shall commence (if properly exercised) immediately upon the expiration of the immediately preceding Extension Term. In order to exercise an option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)as provided herein, at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) 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 Tenant shall give Landlord written notice of such option with respect to the first such extended term shall be by written notice to Landlord at least eighteen exercise not less than one hundred eighty (18180) months days prior to the expiration of the initial term hereofInitial Term or the then-current Extension Term, exercise of such option with respect to as applicable (the second extended term, if the first extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration “Renewal Notice”). All of the first extended term hereof. If Tenant is terms and conditions contained in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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 applicable and shall continue in full force and effect during an Extension Term. In the extension term(s) thus elected by Tenant. Except as expressly set forth in this Section 2.6, event Tenant shall have no right does not timely or properly exercise an option to extend the Term of this Lease beyond its prescribed termin accordance with the foregoing, then the subject option and all future options to extend the Term of this Lease as provided above shall become null and void and be of no further force or effect.

Options to Extend Term. Tenant So long as Xxxxxx Corporation is the Lessee hereunder and occupies the entirety of the Leased Improvements, and subject to the condition set forth in clause (b) below, Lessee shall have the option two options to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term entirety of the Leased Property (each an “Extension Option”), the first for a period of five (5) years from the expiration of the fifteenth (15th) year of the Lease Term (the “First Extension Period”), and the second (the “Second Extension Period”) for a period of five (5) years from the expiration of the First Extension Period, subject to the following conditions: (a) Each Extension Option shall be exercised, if at all, by notice of exercise given to Lessor by Lessee not more than fifteen months nor less than twelve months prior to: (i) the expiration of the Lease Term, or (ii) the expiration of the First Extension Period, as applicable; (b) Anything herein to the contrary notwithstanding, if Lessee is in default under any of the terms, covenants or conditions of this Lease, for up to two (2) additional periods of ten (10) years each, either at 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 eighteen (18) months prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended term, if the first time Lessee exercises either extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the commencement date any extended term is to commence, then the exercise of the option First Extension Period or the Second Extension Period, as applicable, Lessor shall be have, in addition to all of no force or effectLessor’s other rights and remedies provided in this Lease, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at right to terminate 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 2.6option(s) to the “term” of this Lease shall be construed extend upon notice 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 this Lease beyond its prescribed termLessee.

Options to Extend Term. Tenant shall have the option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental set forth in Section 3.1(b) and (c), below, 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 ten (10) 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 eighteen (18) 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 written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term of this Lease beyond its prescribed term.

Options to Extend Term. Tenant shall have the option to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental minimum rental set forth in Section 3.1(b) and (c), below, 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 ten five (105) years each, the first such period commencing upon the expiration of the initial term hereof and and, if such first extension period is duly elected by Tenant, the second such period 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 eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the initial term hereof, exercise in the case of such option with respect to the second first extended term, if the first extension option has been duly exercised, shall be by written notice to Landlord and at least eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the first extended term hereof, in the case of the second extended term (if applicable). If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any the applicable extended term is to commence, then the exercise of the option shall be of no force or effect, the applicable 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 term of this Lease beyond its prescribed term.

Options to Extend Term. Tenant shall have the option two (2) options (each an "Extension Option") to extend the Term of this Lease for Phase 1A and Phase 1B only a period of five (but not Phase 2A5) years each (each an "Extension Period"), at on the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the same terms and provisions set forth herein with respect to the initial term of conditions in effect under this Lease, for up to two (2) additional periods of ten (10) 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 eighteen (18) months Lease immediately prior to the expiration commencement of the initial term hereofExtension Period, exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by written notice to Landlord at least eighteen except that (18a) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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. Except as expressly set forth in this Section 2.6, Tenant shall have no further right to extend the Term of this Lease beyond after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to One Hundred Three and One-Quarter Percent (103.25%) of the Base Rent in effect immediately prior to the Extension Period, and such Base Rent shall thereafter be subject to an annual upward adjustment of three and one-quarter percent (3.25%) of the then-current Base Rent commencing on the first annual anniversary of the commencement of the Extension Period and on every successive annual anniversary for the duration of the Extension Period. 3.2.1. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the "Extension Notice") not later than six (6) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. 3.2.2. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (i) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default to Landlord's reasonable satisfaction; (ii) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (iii) in the event that Tenant has defaulted in the performance of its prescribed termobligations under this Lease two (2) or more times during the six (6)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, whether or not Tenant has cured such defaults. 3.2.3. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant's right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (other than in the case of a Permitted Transfer as set forth in Section 16.8 below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2. 3.2.4. The Extension Options are conditioned upon each Guarantor executing an amendment to such Guarantor's Guaranty that explicitly extends such Guarantor's obligations so that each Guarantor guarantees Tenant's Lease obligations incurred pursuant to Tenant's timely and proper exercise of an Extension Option. Notwithstanding anything in this Lease or the applicable Guaranty to the contrary, Landlord agrees to execute a commercially reasonable form of subordination agreement that subordinates Landlord's rights under a Guaranty to an institutional lender’s or third party financing source’s rights with respect to a contemplated financing by the applicable Guarantor, provided that the following conditions are satisfied: 1) the subordination of the Guaranty is a requirement of the lender or other third party financing source to provide the financing to the Guarantor; and 2) at the time of Landlord's execution of such subordination agreement, (a) neither Tenant nor any Guarantor is then in default of its obligations under the Lease or any Guaranty; and (b) neither Tenant nor any Guarantor has defaulted on its obligations under either the Lease or any Guaranty more than two (2) times during the immediately prior six (6) month period.

Options to Extend Term. Tenant So long as Lessee occupies at least seventy five percent (75%) of the Leased Improvements, and subject to the condition set forth in clause (b) below, Lessee shall have the option two options to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term entirety of the Leased Property on all of the terms, covenants and conditions of this Lease, for up to two Lease (2) additional periods of ten (10) years eacheach an "Extension Option"), the first commencing upon for a period of five (5) years from the expiration of the initial term hereof fifteenth (15th) full year of the Lease Term (the "First Extension Period"), and the second commencing upon (the "Second Extension Period") for a period of five (5) years from the expiration of the first extended termFirst Extension Period, subject to the following conditions: (a) Each Extension Option shall be exercised, if anyat all, by notice of exercise given to Lessor by Lessee not more than sixty (60) days after receipt of the final written determination of the Fair Market Rent for the applicable Extension Period (each a "Rent Notice"). Exercise The determination of such option the Fair Market Rent shall only be given by Lessor to Lessee simultaneous with respect the delivery to Lessee by Lessor of the determination of the FMV of the Leased Property being given pursuant to Section 34 of this Lease; (b) Anything herein to the first such extended term shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended termcontrary notwithstanding, if an Event of Default by Lessee has occurred, either at the first time Lessee exercises either extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the commencement date any extended term is to commence, then the exercise of the option First Extension Period or the Second Extension Period, as applicable, Lessor shall be have, in addition to all of no force or effectLessor's other rights and remedies provided in this Lease, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at right to terminate 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 2.6option(s) to the “term” of this Lease shall be construed extend upon notice 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 this Lease beyond its prescribed termLessee.

Options to Extend Term. Tenant shall have the option to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental minimum rental set forth in Section 3.1(b3.1 (c) and (c), below, d) 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 ten five (105) 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 eighteen six (186) 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 has been duly exercised, shall be by like written notice to Landlord at least eighteen six (186) months and not more than eight (8) 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 any such 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 2.62.7) 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 2.62.7, Tenant shall have no right to extend the Term term of this Lease beyond its prescribed term.

Options to Extend Term. Subject to the terms and conditions hereinafter provided, Tenant shall have the option right to extend the Term ("EXTENSION OPTION") exercisable as hereinafter provided, for two successive extensive terms of this Lease for Phase 1A five years each, each such extension term ("EXTENSION TERM") upon all of the terms, covenants and Phase 1B only (but not Phase 2A), at the Minimum Rental conditions set forth in Section 3.1(b) and (c), below, 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 ten (10) years each, the first commencing upon except that after the expiration of the initial term hereof second Extension Term, Tenant shall have no further right to extend the Term. The exercise of one or both of such Extension Options shall apply to all of the Leased Premises, including any Additional Leased Premises and the second commencing upon Building 5 Space as defined in Article 36 hereof. The Tenant shall have the right to an Extension Option only so long as this Lease shall be in full force and effect, and Tenant is not in default of this Lease after any required notice and expiration of any applicable cure periods, and that in the case of the second Extension Option, Tenant shall have exercised the first extended term, if anyExtension Option. Exercise of such option with respect to the first such extended term Base Rent for each Lease Year or a portion thereof during any Extension Term shall be that amount specified in Section 3.1(ii) hereof. Tenant shall exercise its right to an Extension Term by written giving Landlord notice of its election to Landlord at least eighteen do so not less than six (186) months prior to the expiration of the initial term hereofthen applicable Term and, exercise upon the giving of such option with respect to the second extended termnotice, if the first extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such 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 deemed to include be extended for 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 period of the relevant Extension Term without the execution of this Lease beyond its prescribed termany further lease or instrument.

Options to Extend Term. Tenant shall have the option to extend the Term term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A)Lease, at the Minimum Rental minimum rental set forth in Section 3.1(b) and or (c), below, ) (as applicable) 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 ten five (105) years each, the first such period commencing upon the expiration of the initial term hereof and and, if such first extension period is duly elected by Tenant, the second such period 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 eighteen nine (189) months and not more than twelve (12) 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 extended term is duly exercisedelected by Tenant, shall be by written notice to Landlord at least eighteen nine (189) months and not more than twelve (12) months prior to the expiration of the first extended term hereofterm. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any the applicable extended term is to commence, then the exercise of the applicable option shall be of no force or effect, the applicable 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. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term term of this Lease beyond its prescribed term.