Common use of Proper Exercise Clause in Contracts

Proper Exercise. Despite a timely exercise by Tenant, Tenant's Extension Option shall not, at Landlord's option, be deemed to be properly exercised if at the time Tenant exercises its Extension Option or at the end of the initial Term of the Lease, an event of default has occurred and is continuing under the Lease. Provided Tenant properly exercises the Extension Option, the Term of the Lease shall be extended for the Option Period, and all of the terms, covenants, and conditions of the Lease shall remain unmodified and in full force and effect during the Option Period, except that the Annual Base Rent shall be modified as set forth in Subparagraphs (c) and (d) below.

Proper Exercise. Despite a timely exercise by Tenant, Tenant's Extension Option shall not, at Landlord's option, not be deemed to be properly exercised if at the time Tenant exercises its Extension Option or at the end of the initial Initial Term of the LeaseLease Tenant is in default of any of the material terms, an event covenants or conditions of default has occurred and is continuing under the Lease. Provided Tenant properly exercises the Extension Option, the Term of the Lease shall be extended for the Option Period, and all of the terms, covenants, and conditions of the Lease shall remain unmodified and in full force and effect during the Option Period, except that the Annual Base Basic Rent shall be modified as set forth in Subparagraphs (c) and (d) below.

Proper Exercise. Despite a timely exercise by Tenant, Tenant's ’s Extension Option Options shall not, at Landlord's option, not be deemed to be properly exercised if at the time Tenant exercises its Extension Option or at the end of the initial Term of the LeaseLease or extension thereof, an event Tenant is in default (taking into account any applicable cure periods) of default has occurred and is continuing under any of the terms, covenants or conditions of the Lease. Provided Tenant properly exercises the Extension OptionOptions, the Term of the Lease shall be extended for the Option PeriodPeriods, and all of the terms, covenants, and conditions of the Lease shall remain unmodified and in full force and effect during the Option PeriodPeriods, except that the Annual Base Basic Rent shall be modified as set forth in Subparagraphs (c) and (d) below.

Proper Exercise. Despite a timely exercise by Tenant, Tenant's Extension Option shall not, at Landlord's option, not be deemed to be properly exercised if at the time Tenant exercises its Extension Option or at the end of the initial Term of the LeaseLease Tenant is in default of any of the terms, an event covenants or conditions of default has occurred and is continuing under the Lease. Provided Tenant properly exercises the Extension Option, the Term of the Lease shall be extended for the Option Period, and all of the terms, covenants, and conditions of the Lease shall remain unmodified and in full force and effect during the Option Period, except that the Annual Base Rent Basic Rents shall be modified as set forth in Subparagraphs (c) and (d) below.

Proper Exercise. Despite a timely exercise by Tenant, Tenant's ’s Extension Option shall not, at Landlord's option, not be deemed to be properly exercised if at the time Tenant exercises its Extension Option or at the end of the initial Term of the LeaseLease Tenant is in default of any of the terms, an event covenants or conditions of default has occurred and is continuing under the Lease. Provided Tenant properly Properly exercises the Extension Option, the Term of the Lease shall be extended for the Option Period, Period and all of the terms, covenants, and conditions of the Lease shall remain unmodified and in full force and effect during the Option Period, except that the Annual Base Rent Basic Rents shall be modified as set forth in Subparagraphs (c) and (d) below.