Common use of Options to Extend Term Clause in Contracts

Options to Extend Term. (a) Subtenant shall have one option ---------------------- (the Extension Option) to extend the Term for five (5) years for the entire Premises by giving Sublandlord prior written notice of Subtenant's election to exercise this option not less than two hundred and ten (210) days before the expiration of the Term. However, if there exists an uncured Default or Breach on Subtenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Sublandlord may cancel Subtenants exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. The Extension Option shall be on all the same terms of this Sublease provided that the Minimum Rent for each such Option Period shall be increased in accordance with Section 21 of this Sublease.

Appears in 1 contract

Samples: Sublease Agreement (Andromedia Inc)

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Options to Extend Term. (a) Subtenant Tenant shall have one option ---------------------- (the Extension Option) to extend the Term for five three (53) years for the entire Premises by giving Sublandlord Landlord prior written notice of SubtenantTenant's election to exercise this option not less than two hundred and ten (210) days before the expiration of the TermTerm as the same may have been extended. However, if there exists an uncured Default or Breach default on SubtenantTenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Sublandlord Landlord may cancel Subtenants Tenant's exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. The Each Extension Option shall be on all the same terms of this Sublease Lease provided that the Minimum Monthly Rent for each such Option Period shall be increased in accordance with Section 21 42 of this SubleaseLease.

Appears in 1 contract

Samples: Letter and Construction Agreement (Improvenet Inc)

Options to Extend Term. (a) Subtenant Tenant shall have one the option ---------------------- (collectively the "Extension OptionOptions") to extend the Term for two additional periods of five (5) years for the entire Premises each (each an "Option Period") by giving Sublandlord Landlord prior written notice of SubtenantTenant's election to exercise this option not less more than two hundred and ten eighteen (21018) days months before the expiration of the Term. However, Term as the same may have been extended and not less than fifteen (15) months before the expiration of the Term as the same may have been extended; provided that if there exists an uncured Default or Breach default on SubtenantTenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Sublandlord Landlord may cancel Subtenants Tenant's exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. The Each Extension Option shall be on all the same terms of this Sublease Lease provided that the Minimum Monthly Rent for each such Option Period shall be increased determined in accordance with Section 21 42 of this SubleaseLease.

Appears in 1 contract

Samples: Office Lease (Regan Holding Corp)

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Options to Extend Term. (a) Subtenant Tenant shall have one option ---------------------- two (2) options (the Extension OptionOption(s)) to extend the Term for five three (53) years each ("Option Period") for the entire Premises by giving Sublandlord Landlord prior written notice of SubtenantTenant's election to exercise this option not less than two hundred and ten twelve (21012) days months before the expiration of the TermTerm as the same may have been extended. However, if there exists an uncured Default or Breach default on SubtenantTenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Sublandlord Landlord may cancel Subtenants Tenant's exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. The Each Extension Option shall be on all the same terms of this Sublease Lease provided that the Minimum Monthly Rent for each such Option Period shall be increased in accordance with Section 21 42 of this SubleaseLease.

Appears in 1 contract

Samples: Kana Communications Inc

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