Common use of Renewal Options Clause in Contracts

Renewal Options. Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commences.

Renewal Options. Lessor hereby grants to Lessee the option to extend the term of 30.01. As long as this Lease for the following periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each is in full force and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof effect and the third Tenant is in actual occupancy (“Third Renewal Term”i.e., exclusive of any subtenants) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than fifty (50%) percent of the Demised Premises, and if Tenant is not in default, Tenant shall have the right, by an unconditional and unequivocal written notice (the Election Notice) given to Landlord not earlier than the date which is twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as Expiration Date set forth on Schedule 3.1 hereof. (c) The right of Lessee in Article 1, to elect to extend and renew the term of this Lease to the Demised Premises for a single three (3) year period (the First Extension Term), commencing on the day following the Expiration Date set forth in Article 1, and ending on the third (3rd) anniversary of the Expiration Date set forth in Article 1 (which third (3rd) anniversary date shall thereupon be and become the Expiration Date of this Lease). Subsequent to First Extension Term, and subject to the terms of this Article 30, there shall be a Second Extended Term and a Third Extended Term. The Second and Third Extended Term shall be five (5) years each and shall be exercised in the same manner as the First Extended Term. Thus, the maximum number of year this Lease could be is 7 (initial term) + 3 (First Extended Term) + 5 (Second Extended Term) + 5 (Third Extended Term) = 20 years. 30.02. All of the terms, covenants, and conditions of this Lease shall apply during the Extension Terms (including, the rent increases described in 3.01) except: A. Landlord shall have no obligation to perform any work to refinish or refurnish the Demised Premises or make any improvements thereto, and Tenant accepts the Demised Premises in its then “as is” condition; B. Tenant shall have no further right to extend or renew this Lease beyond the expiration of the Extension Terms. C. Time shall be deemed of the essence in Tenant’s giving such Election Notice and may not be extended or abbreviated for any Renewal Term is contingent reason. If Tenant shall fail to duly exercise its option, Landlord may demand, and Tenant shall deliver, a letter that it has not so exercised its option, but Landlord’s failure to so demand such a letter, or Tenant’s failure or refusal to give such a letter, will not create or bestow any rights upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commencesTenant by reason thereof.

Renewal Options. (a) Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (ai) for two three (3) consecutive terms Renewal Terms of five (5) years each and a third consecutive terms of four (4) yearseach, the first initial Renewal Term commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second Renewal Term (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof thereof; and the third Renewal Term (the “Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth fifth (4th5th) anniversary thereof (the First Renewal Term, the Second Renewal Term and the Third Renewal Term, collectively, the “Initial Renewal Terms”). ; and (ii) for three (3) consecutive terms of five (5) years each (each, an “Additional Renewal Term”), with each such Additional Renewal Term commencing on the date that is the day after the expiration of the preceding Renewal Term. (b) In order to exercise its option to extend this Lease for any Renewal Term, the following procedure shall be followed: (i) Lessee shall give Lessor written notice (a “Notice to Renew”) of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the First Renewal Term, the Second Renewal Term or the Third Renewal Term, as applicable, with respect to the Initial Renewal Terms, and not less than sixteen (16) months prior to the expiration of the then current Renewal TermTerm for any Additional Renewal Term (each, time being of the essencean “Intent to Renew Date”). If Lessee fails to provide such notice a Notice to Renew for any Renewal Term by the due date therefor, Lessor shall so notify Lessee will be deemed in writing that such Intent to Renew Date has passed, and Lessee shall have waived an additional thirty (30) days after receipt of such notice to exercise its right option to renewextend the Lease Term for the applicable Renewal Term. (bii) The Subject to paragraph (c) below, the monthly Base Rent payable for the each Initial Renewal Terms Term shall be as set forth on Schedule 3.1 hereof3.1. (ciii) The right monthly Base Rent payable for each Additional Renewal Term shall be equal to 95% of Lessee the Fair Market Rent, anticipated to extend be in effect as of the term commencement date of the applicable Renewal Term. Upon receipt of Lessee’s notice of its intent to renew this Lease for any Additional Renewal Term is contingent Term, Lessor and Lessee shall promptly (but no earlier than 16 months prior to commencement of the applicable Renewal Term) commence good faith negotiations to agree upon there the Fair Market Rent. If the parties cannot being any Lease Event of Default in existence agree on the date of Fair Market Rent within thirty (30) days after Lessor has received Lessee’s exercise notice to renew, the Fair Market Rent shall be determined by the Appraisal Procedure not later than 13 months prior to the expiration of such right or on the date that the Renewal Term commences.then current

Renewal Options. Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (a) for two four (4) consecutive terms of five (5) years each and a third consecutive terms of four (4) yearseach, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof thereof; and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fifth (5th) anniversary thereof; and the fourth (4ththe “Fourth Renewal Term”) commencing on the day that is the day after the expiration of the Third Renewal Term and ending on the fifth anniversary thereof thereof, (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commences.

Renewal Options. (a) Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”"RENEWAL TERM"): (ai) for two consecutive terms of five (5) years each and a third consecutive terms of four (4) yearseach, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”"FIRST RENEWAL TERM"); and the - 5 - second (the “Second Renewal Term”"SECOND RENEWAL TERM") commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof and (collectively, the third "FIXED RATE RENEWAL TERMS"); and (“Third ii) for three (3) successive terms of five (5) years each (each, an "ADDITIONAL RENEWAL TERM"), with each such Additional Renewal Term”) Term commencing on the day date that is the day after the expiration of the Second preceding Renewal Term and ending on the fourth Term. (4thb) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the following procedure shall be followed: (i) Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve thirteen (1213) months prior to the expiration of the Base Term or the First Renewal Term, as applicable, with respect to the Fixed Rate Renewal Terms, and not less than sixteen months (16) prior to the expiration of the then current Renewal Term, as the case may be, for any Additional Renewal Terms, (each, an "INTENT TO RENEW DATE"), time being of the essence. If Lessee fails to provide such notice for any Additional Renewal Terms, Lessee will be deemed to have exercised its right to renew, subject to the terms set forth below. If Lessee fails to provide such notice for any Fixed Rate Renewal Term Lessee will be deemed to have waived its right to renew. (bii) The monthly Base Rent for the First Renewal Terms Term and the Second Renewal Term shall be as set forth on Schedule 3.1 hereof. (iii) The monthly Base Rent payable for each Additional Renewal Term shall be equal to 95% of the Fair Market Rental Value, anticipated to be in effect as of the commencement date of the applicable Renewal Term. Upon receipt of Lessee's notice to renew, or deemed election (for any Additional Renewal Terms), Lessor and Lessee shall promptly commence good faith negotiations to agree upon the Fair Market Rental Value, but no earlier than 16 months prior to commencement of the applicable Renewal Term. If the parties cannot agree on the Fair Market Rental Value within thirty (30) days after Lessor has received Lessee's notice to renew, the Fair Market Rental Value shall be determined by the Appraisal Procedure. Whether Lessee has exercised its right to renew the Term, or has been deemed to do so, Lessor and Lessee shall in good faith commence negotiations as to the Fair Market Rental Value and, if necessary conclude the Appraisal Procedure, by the date which is 13 months prior to the expiration of the then current Term. By the date which is 13 months prior to the expiration date of the then current Term, but not prior to the date the Base Rent for the applicable Renewal Term is fixed, Lessee must irrevocably exercise its right to extend the Lease Term. If Lessee fails to do so it will be deemed to waive its right to renew, and the Lease Term shall expire at the expiration of the then current Renewal Term. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s 's exercise of such right or on the date that the Renewal Term commences.

Renewal Options. Lessor Tenant is hereby grants granted three (3) five (5)-year options to Lessee renew the option to extend the term of this Lease for the following periods (eacheach option, a “Renewal Option”, and each renewal term, a “Renewal Term”): (a) for two consecutive terms of five (5) years ), with each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after Renewal Term to commence immediately upon the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Extension Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then then-current Renewal Term, time being as applicable, upon the same terms and conditions of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Lease, as amended hereby, except Base Rent for during the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right in Section 3 below. Tenant shall give Landlord written notice of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of LesseeXxxxxx’s exercise of a Renewal Option at least ninety (90) days prior to the expiration of the Extension Term or then-current Renewal Term, as applicable (such notice, a “Renewal Notice”). Notwithstanding the foregoing or anything in the Lease to the contrary, should Tenant fail to timely provide a Renewal Notice, Landlord will notify Tenant in writing that it has missed the deadline and Tenant shall have ten (10) days after receipt of such notice from Landlord to provide Landlord with a Renewal Notice. If Tenant fails to provide such Renewal Notice to Landlord within such ten (10)-day period, Tenant’s Renewal Option (and any future Renewal Option) will be terminated and Tenant will be deemed to have waived its Renewal Option. The Renewal Options herein provided replace any option to renew or extend the Lease previously granted to Tenant under the Lease, including without limitation those granted at Section 2.d of the Lease; any such previously granted option to renew or extend is null and void. Tenant’s right or to exercise any Renewal Option is subject to the condition that, on the date that Tenant delivers its Renewal Notice, Tenant is not in default under the Renewal Term commencesLease beyond the expiration of any applicable period of notice and cure.

Renewal Options. (a) Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (ai) for two (2) consecutive terms Renewal Terms of five (5) years each and a third consecutive terms of four (4) yearseach, the first initial Renewal Term commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second Renewal Term (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof (the First Renewal Term, and the third Second Renewal Term, collectively, the “Initial Renewal Terms”); and (ii) for two (2) consecutive terms, the first being for a total of five (5) years and the second being for a total of four (4) years eleven (11) months (each, an “Third Additional Renewal Term”) ), with each such Additional Renewal Term commencing on the day date that is the day after the expiration of the Second preceding Renewal Term and ending on the fourth Term. (4thb) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the following procedure shall be followed: (i) Lessee shall give Lessor written notice (a “Notice to Renew”) of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the First Renewal Term, or the Second Renewal Term, as applicable, with respect to the Initial Renewal Terms, and not less than sixteen (16) months prior to the expiration of the then current Renewal TermTerm for any Additional Renewal Term (each, time being of the essencean “Intent to Renew Date”). If Lessee fails to provide such notice a Notice to Renew for any Renewal Term by the due date therefor, Lessor shall so notify Lessee in writing that such Intent to Renew Date has passed, and Lessee shall have an additional thirty (30) days after receipt of such notice to exercise its option to extend the Lease Term for the applicable Renewal Term. (ii) Subject to paragraph (c) below, the monthly Base Rent payable for the Initial Renewal Terms shall be as set forth on Schedule 3.1. (iii) The monthly Base Rent payable for each Additional Renewal Term shall be equal to 90% of the Fair Market Rent, anticipated to be in effect as of the commencement date of the applicable Renewal Term. Upon receipt of Xxxxxx’s notice of its intent to renew this Lease for any Additional Renewal Term, Lessor and Lessee shall promptly (but no earlier than 16 months prior to commencement of the applicable Renewal Term) commence good faith negotiations to agree upon the Fair Market Rent. If the parties cannot agree on the Fair Market Rent within thirty (30) days after Xxxxxx has received Lessee’s Notice to Renew, the Fair Market Rent shall be determined by the Appraisal Procedure not later than 13 months prior to the expiration of the then current Lease Term. Within thirty (30) Business Days after the determination of the Fair Market Rent and the Base Rent for the applicable Renewal Term, Lessee must irrevocably exercise its right to extend the Lease Term. If Lessee fails to do so it will be deemed to have waived its right to renew, and the Lease Term shall expire at the expiration of the then current Renewal Term. (bc) The monthly Base Rent Lessee in exercising any renewal option may renew on a full floor by full floor basis as to any combination of floors within the office building at the Property that Lessee so elects to lease for the Renewal Terms Term. Lessee is not obligated to exercise a renewal for all of the floors of space then constituting the Property under the Term then ending. Lessee in providing Lessor with notice of its renewal and extension of the Term shall specify in such written notice both those floors of the Property for which it is renewing the Lease and also those floors of the Property, if any, which Lessee does not intend to continue leasing during the Renewal Term and will be “giving back” to Lessor. Lessee may not exercise the Renewal Term for less than a full floor. If Lessee in exercising its renewal rights granted hereunder ceases to lease the entire Property, then the additional lease provisions set forth in Schedule 5 shall become applicable. Any floors within the office building of the Property that are not included as a part of the Property for a Renewal Term (the “Give Back Space”) are thereafter excluded from the Property for purposes of any subsequent Renewal Term. Lessor may market and lease to a third party all such Give Back Space, subject to the restrictions on leasing to a “Significant Competitor” of Lessee as set forth on in Schedule 3.1 5 of this Lease. Xxxxxx’s option to renew hereunder may be exercised by any assignee of Lessee in compliance with Article 11 hereof. (cd) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of LesseeXxxxxx’s exercise of such right or on the date that the Renewal Term commences.

Renewal Options. Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commences.

Renewal Options. Lessor hereby grants to So long as Lessee is not in default at the time of the exercise of any option provided for in this Section 6, Lessee shall have the right to extend the term of this Lease for the following periods (each, a an “Renewal TermOption”): (a, and collectively, the “Options”) for two consecutive terms (2) additional periods of five three (53) years each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Option Term” and “Second Option Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term , respectively, and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Option Terms”). In order to exercise its option to extend this Lease for any Renewal TermOptions, the or either of them, Lessee shall give provide to Lessor written notice of its intent to exercise its option to extend the term of this Lease election not less than twelve six (126) months prior to the expiration of the Base Term or then-current term, and no more than one (1) year prior. The Option Terms shall be upon the then current Renewal Termsame terms, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. covenants and conditions as are set forth in this Lease, except that (ba) The monthly Base Rent for the Renewal Terms first year of the First Option Term and the Second Option Term shall be adjusted to the then-prevailing fair market rent as set forth reasonably determined by Lessor; however, in no event shall Base Rent decrease below the last-current Base Rent; and (b) there shall be no further Option Terms provided. Base Rent for the second and succeeding years of the First Option Term and Second Option Term (if exercised) shall increase by two percent (2%) on Schedule 3.1 hereof. each anniversary date. Within thirty (c30) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of days from Lessee’s exercise of each Option, Lessor shall provide to Lessee an amendment to the Lease setting forth the new Base Rent. If Lessee does not execute the amendment within fifteen (15) days from Lessor’s delivery of the amendment, then that Option shall be null and void, and the Lease shall terminate at the expiration of the then-existing Lease term. Section 39.1 of the Lease is hereby deleted, and Sections 39.2, 39.3 and 39.4 are hereby reaffirmed. 13. Paragraph 7 of the Addendum is hereby reaffirmed, with the exception that “all vacant square footage within the building” is hereby replaced with “any existing available contiguous space within the building.” 14. Section 1.10 of the Lease and Paragraph 8 of the Addendum are hereby deleted in their entirety. Lessor agrees to pay commission to Xxxxx & Xxxxx|BRECommercial, LLC (broker for Lessee) in the amount of $54,463.50. The commission shall be paid in cash within thirty (30) days of the execution of the Fifth Amendment to Lease Agreement. Xxxxx & Xxxxx|BRE Commercial, LLC, is an intended third-party beneficiary of this commission-payment provision. Except for such commission, Lessor and Lessee hereby confirm that no other broker or other person or party shall be entitled to a commission or finder’s fee under this Lease, and each holds the other harmless from, for and against any claims, costs and expenses arising out of any claim brought by any party for any such commission or finder’s fee. 15. Except as amended herein, the Lease shall remain in full force and effect. In case of any inconsistency between the provisions of the Lease and this Fifth Amendment, this Fifth Amendment shall govern and control. 16. This Fifth Amendment shall become binding upon the parties only when executed by both Lessor and Lessee. 17. This Fifth Amendment sets forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. 18. Except for Lessee’s obligation to file a copy of this Fifth Amendment with the Securities & Exchange Commission as required pursuant to the Securities Exchange Act of 1934, Lessee shall not divulge the existence, contents or provisions of this Fifth Amendment to any other occupant of the Project or to any other person who may subsequently divulge such information to any other occupant of Project The requirement of confidentiality contained in this paragraph is a material inducement to Lessor to execute this Fifth Amendment and to abide by its terms; and if any other occupant of Project shall be or become aware or advised of the terms or general provisions of this Fifth Amendment, then Lessee shall be deemed in default under the Lease and Lessor shall have the right or on to immediately exercise all of its remedies under the Lease. 19. This Fifth Amendment may be executed in counterparts, and all counterparts together shall constitute the whole. Dated as of the date that the Renewal Term commences.set forth above. MOUNTAIN VALLEY COMMUNITY CHURCH, a non-profit corporation, successor-in-interest to I.S. Capital, LLC By: /s/ Xxxx Xxxxx Name: Xxxx Xxxxx Its: President

Renewal Options. (a) Lessor hereby grants to Lessee the option to extend the term of this Lease for the following periods (each, a “Renewal Term”): (ai) for two (2) consecutive terms Renewal Terms of five (5) years each and a third consecutive terms of four (4) yearseach, the first initial Renewal Term commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second Renewal Term (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof (the First Renewal Term, and the third Second Renewal Term, collectively, the “Initial Renewal Terms”); and (ii) for two (2) consecutive terms of five (5) years each (each, an “Third Additional Renewal Term”) ), with each such Additional Renewal Term commencing on the day date that is the day after the expiration of the Second preceding Renewal Term and ending on the fourth Term. (4thb) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the following procedure shall be followed: (i) Lessee shall give Lessor written notice (a “Notice to Renew”) of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the First Renewal Term, or the Second Renewal Term, as applicable, with respect to the Initial Renewal Terms, and not less than sixteen (16) months prior to the expiration of the then current Renewal TermTerm for any Additional Renewal Term (each, time being of the essencean “Intent to Renew Date”). If Lessee fails to provide such notice a Notice to Renew for any Renewal Term by the due date therefor, Lessor shall so notify Lessee in writing that such Intent to Renew Date has passed, and Lessee shall have an additional thirty (30) days after receipt of such notice to exercise its option to extend the Lease Term for the applicable Renewal Term. (ii) Subject to paragraph (c) below, the monthly Base Rent payable for the Initial Renewal Terms shall be as set forth on Schedule 3.1. (iii) The monthly Base Rent payable for each of the Initial Renewal Terms and for each Additional Renewal Term shall be equal to 90% of the Fair Market Rent, anticipated to be in effect as of the commencement date of the applicable Renewal Term, but in no event less than the Base Rent then being paid under the expiring lease term. Upon receipt of Xxxxxx’s notice of its intent to renew this Lease for any Additional Renewal Term, Lessor and Lessee shall promptly (but no earlier than 16 months prior to commencement of the applicable Renewal Term) commence good faith negotiations to agree upon the Fair Market Rent. If the parties cannot agree on the Fair Market Rent within thirty (30) days after Xxxxxx has received Lessee’s Notice to Renew, the Fair Market Rent shall be determined by the Appraisal Procedure not later than 13 months prior to the expiration of the then current Lease Term. Within thirty (30) Business Days after the determination of the Fair Market Rent and the Base Rent for the applicable Renewal Term, Lessee must irrevocably exercise its right to extend the Lease Term. If Lessee fails to do so it will be deemed to have waived its right to renew. (b) The monthly Base Rent for , and the Lease Term shall expire at the expiration of the then current Renewal Terms shall be as set forth on Schedule 3.1 hereofTerm. (c) Lessee in exercising any renewal option for a Renewal Term may only renew the Lease for the entire Property and may not renew the Lease for any portion of the Property less than all of the Property. (d) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of LesseeXxxxxx’s exercise of such right or on the date that the Renewal Term commences.

Renewal Options. (a) Lessor hereby grants to Lessee the option to extend the term Term of this Lease for the following periods (each, a “"Renewal Term”"): (ai) for two consecutive terms a period of five (5) years each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “..First Renewal Term”"); and (ii) for five (5) additional successive terms of five (5) years each (each, an “Additional Renewal Term", and together with the second First Renewal Term (the “Second "Renewal Term”) Terms")), with each such Additional Renewal Term commencing on the day date that is the day after the expiration of the First preceding Renewal Term. Notwithstanding the foregoing, in the event that the exercise of any Renewal Term and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration shall cause this Lease to he deemed a "transfer" of real property for purposes of the Second imposition of a real property transfer or other Tax in the state in which the Property is located, then Lessor and Lessee agree that the Renewal Term which causes this Lease to be so deemed a transfer of real property shall be shortened so as to avoid the imposition of such Tax and ending on the fourth any remaining, unexercised Renewal Terms shall be deemed void and of no further force or effect. (4thb) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the following procedure shall be followed: (i) Lessee shall give Lessor written Written notice of its intent to exercise its option to extend the term Term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, as the case may be (the "Intent to Renew Date"), time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (bii) The monthly Base Rent payable for the First Renewal Terms Term shall be equal to one hundred and eight percent (108%) of the contractual rent as set forth of the last day of the Base Tenn. For each of the first two (2) Additional Renewal Terms, the monthly Base Rent shall be one hundred one and one half percent (101 1/2%) and one hundred five percent (105%), respectively, of the Base Rent applicable during the preceding Renewal Term. The monthly Base Rent for any Renewal Term thereafter (the "Fair Market Renewal Terms") shall be equal to ninety-five percent (95%) of the Fair Market Rental Value as determined as of the Intent to Renew Date for the applicable Renewal Term. Upon receipt of Lessee's notice to exercise its option for a Fair Market Renewal Term, Lessor and Lessee shall promptly commence good faith negotiations to agree upon the Fair Market Rental Value for such Fair Market Renewal Term. If the parties cannot agree on Schedule 3.1 hereofthe Fair Market Rental Value within sixty (60) days after Lessor has received Lessee's notice to exercise its option for a Fair Market Renewal Term, the Fair Market Rental Value shall be determined by the Appraisal Procedure. Lessor and Lessee also agree to discuss their respective view of Fair Market Rental Value before Lessee exercises its option, if so requested by Lessee; each party agreeing they shall not be bound by such discussions. (ciii) The right of Lessee to extend the term Term of this Lease for any Renewal Term is contingent upon there not being ·any Lease Event of Default in existence on the date of Lessee’s 's exercise of such right or on the date that the Renewal Term commences.

Renewal Options. Lessor hereby grants 1. Tenant shall have the options to Lessee the option to renew or extend the term of this Lease ("Renewal Options") for four five-year renewal or extended terms (each a "Renewal Term" and, collectively, the "Renewal Terms"), the first to commence on January 1, 2002 and to end on December 31, 2006 (the "First Renewal Term"); the second to commence on January 1, 2007 and to end on December 31, 2011 (the "Second Renewal Term"); the third to commence on January 1, 2012 and to end on December 31, 2016 (the "Third Renewal Term") and the fourth to commence on January 1, 2017 and to end on December 31, 2021 (the "Fourth Renewal Term"). Each Renewal Term shall be upon the same terms, covenants and conditions as set forth herein for the following periods (eachterm expiring on December 31, a “Renewal Term”):2001 except that: (a) for two consecutive terms any terms, covenants or conditions hereof that are expressly or by their nature inapplicable to the Renewal Terms shall not apply during the Renewal Terms; (b) the annual net rental payable by Tenant during each Renewal Term (hereinafter referred to as the "Renewal Rent") shall be an amount equal to the greater of five (5i) years each and a third consecutive terms the amount of four (4) yearsannual net rental payable by the Tenant during the calendar year 2001 if the first Renewal Term commences, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of calendar year 2006 if the Second Renewal Term commences, the calendar year 2011 if the Third Renewal Term commences and ending the calendar year 2016 if the Fourth Renewal Term commences, and (ii) the fair market rental value of the demised premises to be determined as provided in Section 3 hereof and to be calculated as of the commencement date of each of the applicable Renewal Terms on the fourth (4th) anniversary basis of a new five year letting of the demised premises. 2. Each of the Renewal Options shall be exercised by Tenant's giving notice of the exercise thereof (collectivelyno later than June 30, 2001 with respect to the “Renewal Terms”). In order to exercise its option to extend this Lease Option for any the first Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior June 30, 2006 with respect to the expiration of Renewal Option for the Base Second Renewal Term, June 30, 2011 with respect to the Renewal Option for the Third Renewal Term or and June 30, 2016 with respect to the then current Renewal Option for the Fourth Renewal Term, time being of the essence. If Lessee fails ; provided, however, that Tenant shall not be entitled to provide such notice exercise the Renewal Option for any Renewal Term Lessee will unless (a) at the time of the exercise thereof and on the day immediately preceding the beginning of such Renewal Term this Lease shall be deemed in full force and effect without default beyond applicable grace periods on the part of Tenant and (b) with respect to the Second Renewal Term, Third Renewal Term and Fourth Renewal Term Tenant shall have waived exercised its right Renewal Option for the immediately preceding Renewal Term. 3. In the event that Tenant shall exercise the applicable Renewal Option as provided in Section 2 hereof, the Renewal Rent shall be determined jointly by Landlord and Tenant, and such determination shall be confirmed in a writing (hereinafter referred to renew.as a "Rental Agreement") to be executed by Landlord and Tenant not later than the day (hereinafter referred to as the "Determination Date") which shall be ninety (90) days next preceding the commencement of the applicable Renewal Term. In the event that Landlord and Tenant shall have failed to join in executing a Rental Agreement on or before the Determination Date because of their failure to agree upon the Renewal Rent, the Renewal Rent shall then be determined by arbitration as follows: (a) Landlord and Tenant shall each appoint an arbitrator by written notice given to the other party hereto not later than thirty (30) days after the Determination Date. If either Landlord or Tenant shall have failed to appoint an arbitrator within such period of time and thereafter shall have failed to do so by written notice given within a period of five (5) days after notice by the other party requesting the appointment of such arbitrator, then such arbitrator shall be appointed by the American Arbitration Association or its successor (by the branch office of which is located closest to the demised premises), upon request of either Landlord or Tenant, as the case may be; (b) The monthly Base Rent two (2) arbitrators appointed as above provided shall appoint a third (3rd) arbitrator by written notice given to both Landlord and Tenant, and, if they fail to do so by written notice given within thirty (30) days after their appointment, such third (3rd) arbitrator shall be appointed as above provided for the Renewal Terms shall be as set forth on Schedule 3.1 hereof.appointment of an arbitrator in the event either party fails to do so; (c) All of such arbitrators shall be real estate appraisers having not less than ten (10) years experience in appraising the fair market rental value of real estate similar in kind and location to the demised premises and whose appraisals are acceptable to savings banks or life insurance companies doing business in the State of New York; (d) Each arbitrator shall certify to Landlord and Tenant whether or not, in the previous three (3) years, the arbitrator or his or her company have (x) been retained by Landlord or Tenant and/or (y) been involved in an adversarial arbitration or litigation proceeding with either Landlord or Tenant. Landlord and Tenant reserve the right to reject any arbitrator for good cause within ten (10) business days after receipt of the certification provided above; (e) The right three arbitrators, selected as aforesaid, forthwith shall convene and render their decision in accordance with the then applicable rules of Lessee the American Arbitration Association or its successor, which decision shall be strictly limited to extend a determination of the term Renewal Rent as the case may be, within twenty (20) days after the appointment of the third (3rd) arbitrator. The decision of such arbitrators shall be in writing and the vote of the majority of them shall be the decision of all and, insofar as the same is in compliance with the provisions and conditions of this Lease Section 3, shall be binding upon Landlord and Tenant. Duplicate original counterparts of such decision shall be sent forthwith by the arbitrators by certified mail, return receipt requested, to both Landlord and Tenant. The arbitrators, in arriving at their decision, shall be entitled to consider all testimony and documentary evidence that may be presented at any hearing, as well as facts and data which the arbitrators may discover by investigation and inquiry outside such hearings. If, for any reason whatsoever, a written decision of the arbitrators shall not be rendered within thirty (30) days after the appointment of the third (3rd) arbitrator, then, at any time thereafter before such decision shall have been rendered, either party may apply to the Supreme Court of the State of New York or to any other court having jurisdiction and exercising the functions similar to those now exercised by such court, by action, proceeding or otherwise (but not by a new arbitration proceeding) as may be proper, to determine the question in dispute consistently with the provisions of this Lease. The cost and expense of such arbitration, action, proceeding, or otherwise shall be borne equally by Landlord and Tenant. 4. In the event that Tenant shall exercise a Renewal Option as provided in Section 2 hereof and the Renewal Rent shall not be finally determined pursuant to the terms of Section 3 hereof on or before the applicable commencement date of any Renewal Term, then: (a) The annual net rental payable by Tenant during the Renewal Term is contingent upon there not being any Lease Event of Default until the Renewal Rent shall be so finally determined shall, subject to adjustment as provided in existence on Article III hereof, be equal to the date of Lessee’s exercise of such right or on annual net rental payable by Tenant during the date calendar year immediately preceding the applicable Renewal Term; and (b) In the event that the Renewal Rent as finally determined pursuant to the terms of Section 3 hereof, shall be greater than the such calendar year's annual net rent (i) the annual net rental payable by Tenant for the balance of the applicable Renewal Term commencesshall be and become the Renewal Rent as finally determined, and (ii) Tenant shall forthwith pay to Landlord an amount equal to the difference between (x) the sum of the actual rental payments paid to Landlord during the Renewal Term before such final determination and (y) the sum of the rental payments that Tenant would have paid to Landlord if the Renewal Rent were finally determined prior to the commencement date of the applicable Renewal Term.

Renewal Options. Lessor hereby grants (a) Subject to Lessee the option terms and conditions of this Section 2.6, provided no Unmatured Event of Default or Event of Default then exists and with the prior written consent of the Banks (which consent shall not be unreasonably withheld or delayed and shall not include any requirement of payment of any fee solely on account of the exercise of such Renewal Option if no other term or provision of this Agreement or the other Loan Documents is being amended) (i) prior to the second anniversary of the Closing Date the Company may elect to extend the term of this Lease for Scheduled Termination Date from November 24, 2006 to November 24, 2007 (the following periods "First Renewal Option") and (each, a “ii) if the Company has properly exercised the First Renewal Term”): (a) for two consecutive terms of five (5) years each Option and a third consecutive terms of four (4) years, the first commencing on Banks have consented to the date that is the day after the expiration extension of the Base Term and ending on Scheduled Termination Date from November 24, 2006 to November 24, 2007, prior to the fifth (5th) third anniversary of the expiration Closing Date the Company may elect to extend further the Scheduled Termination Date from November 24, 2007 to November 24, 2008 (the "Second Renewal Option" and, together with the First Renewal Option, the "Renewal Options"). The Company may exercise a Renewal Option solely by delivering to the Administrative Agent not more than 120 days nor less than 60 days prior to the second anniversary of the Base Term Closing Date (in the “First Renewal Term”); the second (the “Second Renewal Term”) commencing on the day that is the day after the expiration case of the First Renewal Term and ending on the fifth (5thOption) anniversary thereof and or the third anniversary of the Closing Date (“Third Renewal Term”) commencing on in the day that is the day after the expiration case of the Second Renewal Term and ending on the fourth (4thOption) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent election to exercise such Renewal Option. Each such notice shall be effective upon receipt by the Administrative Agent and shall be irrevocable. Promptly upon receipt of such notice, the Administrative Agent shall advise the Banks thereof. Each Bank shall deliver to the Administrative Agent either its option written consent or written refusal to extend the term of this Lease applicable extension not less later than twelve the date (12the "Determination Date") months which is 30 days prior to the expiration second anniversary of the Base Term Closing Date (in the case of the exercise by the Company of the First Renewal Option) or the then current Renewal Term, time being third anniversary of the essenceClosing Date (in the case of the exercise by the Company of the Second Renewal Option. If Lessee Any Bank which fails to provide deliver such notice for any Renewal Term Lessee will written consent to the Administrative Agent not later than the applicable Determination Date shall be deemed for all purposes irrevocably to have waived its right consented to renewthe applicable extension. Under no circumstances shall any Bank be liable to or under any obligation to the Company for the failure of any other Bank to consent to the applicable extension, and in no event shall the Scheduled Termination Date be extended unless all Banks consent to such extension. (b) The monthly Base Rent for If any Bank other than LaSalle delivers to the Renewal Terms shall be Administrative Agent its written refusal to any applicable extension as set forth on Schedule 3.1 hereof. described in the preceding paragraph (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease a), then, if no Event of Default has occurred and is continuing, the Company may designate a Replacement Bank to purchase the Loans of such Bank and such Bank's rights hereunder, without recourse to or warranty by, or expense to, such Bank, for a purchase price equal to the outstanding principal amount of the Loans payable to such Bank plus any accrued but unpaid interest on such Loans and all accrued but unpaid fees owed to such Bank and any other amounts payable to such Bank under this Agreement (excluding, however, in existence on the event the aggregate Pro Rata Shares of the Banks being replaced are less than 25%, all amounts, if any, which otherwise would be payable to such Bank pursuant to Section 8.4 hereof), and to assume all the obligations of such Bank hereunder, and, upon such purchase and assumption (pursuant to an Assignment Agreement), such Bank shall no longer be a party hereto or have any rights hereunder (other than rights with respect to indemnities and similar rights applicable to such Bank prior to the date of Lessee’s exercise such purchase and assumption) and shall be relieved from all obligations to the Company hereunder, and the Replacement Bank shall succeed to the rights and obligations of such right or on the date that the Renewal Term commencesBank hereunder.

Renewal Options. Lessor hereby grants to Lessee Section 29.1. Provided that (i) this Lease has not been earlier terminated, (ii) no Material Monetary Default or material non-monetary Default exists at the time of the exercise of the within applicable option or at commencement of the applicable Extension Term and (ii) Tenant, as of the date that Tenant exercises the within applicable option and the commencement date of the applicable extension term, occupies at least seventy-five (75%) percent of the Demised Premises (it being agreed that for purposes only of calculating such percentage, the Long-term Leaseback Space shall not be included within the Demised Premises, and for purposes of calculating the amount of space occupied by Tenant, there shall be included any space which Tenant would be occupying but for (x) the untenantability thereof or (y) the then actual performance therein of Improvements for Tenant's own use), Tenant shall have the right to extend the term of this Lease with respect to the entire Demised Premises for the following three (3) successive extension periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each (hereinafter referred to individually as an "Extension Term" and a third consecutive terms of four (4) yearscollectively as the "Extension Terms"), the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term which periods (the “"First Renewal Extension Term”); the second (the “Second Renewal Term”") commencing shall commence on the day that is following the last day of the initial lease term (provided the initial lease term shall not have been theretofore terminated), the second of which periods (the "Second Extension Term") shall commence on the day after following the expiration last day of the First Renewal Extension Term and ending on (provided the fifth (5thFirst Extension Term shall not have been theretofore terminated) anniversary thereof and the third of which periods (“the "Third Renewal Extension Term”") commencing shall commence on the day that is following the last day after the expiration of the Second Renewal Extension Term and ending on (provided the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”Second Extension Term shall not have been theretofore terminated). In order to exercise its option to extend this Lease for any Renewal TermThe within described options shall be exercisable only in the following manner: Tenant shall, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less no later than twelve thirty (1230) months prior to the expiration last day of the Base (i) initial term of this Lease, in the case of the First Extension Term, (ii) First Extension Term, in the case of the Second Extension Term or and (iii) Second Extension Term, in the then current Renewal case of the Third Extension Term, give to Landlord written notice (the "Exercise Notice"), pursuant to and in accordance with the terms of Article 24 hereof, of Tenant's election to extend this Lease on the covenants, terms, provisions, agreements and conditions as hereinafter provided in Section 29.2 hereof. In the event of the failure of Tenant to give the Exercise Notice in accordance herewith with respect to any of Tenant's options hereunder, Landlord shall give Tenant a notice thereof (the "Reminder Notice") advising Tenant that Tenant is required to exercise its option with respect to the Extension Term in question by giving notice to Landlord within thirty (30) days from the giving of the Reminder Notice. If Tenant shall fail to give the Exercise Notice within the 30-day period after the giving of the Reminder Notice, time being of the essence. If Lessee fails , Tenant's right to provide such notice for any Renewal Term Lessee will extend shall be conclusively deemed to have been waived and the term shall not be extended beyond the then established expiration date provided for under this Lease. At the request of either party following the exercise of an appropriate option to extend, both parties agree to execute a confirmatory agreement confirming the extension and the newly extended expiration date; provided that the failure to execute a confirmatory agreement shall not invalidate Tenant's exercise of its right option hereunder. Following the exercise of the option to renew. (b) The monthly Base Rent extend for the Renewal Terms First Extension Term, there shall be as set forth no further rights on Schedule 3.1 hereof. (c) The right the part of Lessee Tenant to further extend this Lease other than for the Second Extension Term and Third Extension Term. Following the exercise of the option to extend for the term Second Extension Term, there shall be no further rights on the part of Tenant to further extend this Lease other than for any Renewal Term is contingent upon the Third Extension Term. Following the exercise of the option to extend for the Third Extension Term, there not being any Lease Event of Default in existence shall be no further right on the date part of Lessee’s exercise of such right or on the date that the Renewal Term commencesTenant to further extend this Lease.

Renewal Options. Lessor hereby grants to Lessee Section 43.1 Provided that (a) this Lease is in full force and effect as of the option date of the First Renewal Notice (as hereinafter defined) and the Second Renewal Notice (as hereinafter defined), as the case may be, (b) there shall not then be existing an Event of Default hereunder and (c) Tenant shall be in actual physical occupancy of at least fifty percent (50%) of the Premises on the date of the applicable Renewal Notice and upon commencement of the applicable Renewal Term, Tenant shall have two options to extend the Term of this Lease, each for an additional term of this Lease for the following periods five years (eachrespectively, a “Renewal Term”): (a) for two consecutive terms of five (5) years each and a third consecutive terms of four (4) years, the first commencing on the date that is the day after the expiration of the Base Term and ending on the fifth (5th) anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (” and the “Second Renewal Term”) commencing on the day that is the day after the expiration of the First Renewal Term ” and ending on the fifth (5th) anniversary thereof and the third (“Third Renewal Term”) commencing on the day that is the day after the expiration of the Second Renewal Term and ending on the fourth (4th) anniversary thereof (collectively, the “Renewal Terms”). In order to exercise its option to extend this Lease for any , commencing on the day after the Fixed Expiration Date, in the case of the First Renewal Term, and commencing on the Lessee day after the last day of the First Renewal Term, in the case of the Second Renewal Term. Notwithstanding the preceding sentence, Landlord, in its sole discretion, may waive any Event of Default by Tenant and no such Event of Default may be used by Tenant to negate the effectiveness of Tenant’s exercise of the option(s) hereunder. Tenant’s option with respect to the First Renewal Term shall give Lessor be exercisable by written notice of its intent (the “First Renewal Notice”) to exercise its option to extend the term of this Lease Landlord given not less later than twelve (12) months prior to the expiration Fixed Expiration Date. Tenant’s option with respect to the Table of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commences.Contents

Renewal Options. Lessor hereby grants (a) Provided that (i) the Lease has not been earlier terminated on the basis provided in Article 43 hereof, (ii) no Monetary Default exists at the time of the exercise of the within applicable option and (iii) Tenant is not otherwise in default hereunder (subsequent to Lessee any required notice and the option expiration of any applicable cure period) at the time of the exercise of the within applicable options, Tenant shall have the right to extend the term of this Lease for the following three (3) successive extension periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each (hereinafter referred to individually as an "Extension Term" and a third consecutive terms of four (4) yearscollectively as the "Extension Terms"), the first commencing on of which periods (hereinafter referred to an the date that is the day after the expiration of the Base Term and ending on the fifth (5th"First Extension Term") anniversary of the expiration of the Base Term (the “First Renewal Term”); the second (the “Second Renewal Term”) commencing shall commence on the day that is following the last day of the initial lease term (provided the initial lease term shall not have been theretofore terminated), the second of which periods (hereinafter referred to as the "Second Extension Term") shall commence on the day after following the expiration last day of the First Renewal Extension Term and ending on (provided the fifth (5thFirst Extension Term shall not have been theretofore terminated) anniversary thereof and the third of which periods (“hereinafter referred to as the "Third Renewal Extension Term”") commencing shall commence on the day that is following the last day after the expiration of the Second Renewal Extension Term (provided the Second Extension Term shall not have been theretofore terminated). The within described options shall be exercisable only in the following manner: (b) Tenant shall, no later than twenty-four (24) months, prior to the last day of the (i) initial term of this Lease, in the case of the First Extension Term, (ii) First Extension Term, in the case of the Second Extension Term and ending on (iii) Second Extension Term, in the fourth (4th) anniversary thereof (collectivelycase of the Third Extension Term, give to Landlord written notice, pursuant to and in accordance with the “Renewal Terms”). In order to exercise its option terms of Article 26 hereof, of Tenant's election to extend this Lease for any Renewal Term, the Lessee shall give Lessor written notice of its intent to exercise its option to extend the term of this Lease not less than twelve (12) months prior to the expiration of the Base Term or the then current Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent for the Renewal Terms shall be as set forth on Schedule 3.1 hereof. (c) The right of Lessee to extend the term of this Lease for any Renewal Term is contingent upon there not being any Lease Event of Default in existence on the date of Lessee’s exercise of such right or on the date that the Renewal Term commencescovenants, terms, provisions, agreements and conditions as hereinafter provided in Section 41.

Renewal Options. Lessor hereby grants to Lessee Tenant shall have the option to extend the term Term of this the Lease for all of the following then leased Premises for three (3) additional periods (each, a “Renewal Term”): (a) for two consecutive terms of five (5) years each (each a “Renewal Option”), under and subject to the following terms and conditions: (a) The first renewal term (“First Renewal Term”) shall be for a third consecutive terms of four five (4) years, the first 5)-year period commencing on the day immediately following the expiration date that is of the initial Term of the Lease and expiring on the day after the expiration of the Base Term and ending on immediately preceding the fifth (5th) anniversary of the expiration of the Base Term thereof. The second renewal term (the “First Renewal Term”); the second (the “Second Renewal Term”) shall be for a five (5)-year period commencing on the day that is the day after immediately following the expiration date of the First Renewal Term of the Lease and ending expiring on the day immediately preceding the fifth (5th) anniversary thereof and thereof. The third renewal term (the third (“Third Renewal Term”) shall be for a five (5) year period commencing on in the day that is the day after immediately following the expiration of the Second Renewal Term of the Lease and ending expiring on the fourth day immediately preceding the fifth (4th5th) anniversary thereof (collectivelythereof. Collectively, the First Renewal Term, the Second Renewal Term and the Third Renewal Term are referred to as the “Renewal Terms”). (b) Tenant must exercise the Renewal Option for the First Renewal Term, if at all, by written notice to Landlord delivered at least three hundred sixty five (365) days prior to the expiration date of the initial Term of this Lease, time being of the essence. In order If Tenant fails to exercise its option to extend this Lease the Renewal Option for any the First Renewal Term, the Lessee Renewal Option for the Second Renewal Term and the Third Renewal Term shall give Lessor be void and of no further force and effect. Tenant must exercise the Renewal Option for the Second Renewal Term, if at all, by written notice of its intent to exercise its option to extend the term of this Lease not less than twelve Landlord delivered at least three hundred sixty five (12365) months days prior to the expiration date of the Base Term or the then current First Renewal Term, time being of the essence. If Lessee fails to provide such notice for any Tenant must exercise the Renewal Term Lessee will be deemed to have waived its right to renew. (b) The monthly Base Rent Option for the Third Renewal Terms shall be as set forth on Schedule 3.1 hereofTerm, if at all, by written notice to Landlord delivered at least three hundred sixty five (365) days prior to the expiration date of the Second Renewal Term, time being of the essence. (c) As a condition to Tenant’s exercise of any of the Renewal Options, at the time Tenant delivers its notice of election to exercise such Renewal Option to Landlord, no Event of Default shall then exist and this Lease shall be in full force and effect, and Tenant shall not have assigned this Lease or sublet more than forty percent (40%) of the Premises, other than a Permitted Transfer. (d) The right Minimum Annual Rent for the first years of Lessee to extend the First Renewal Term, Second Renewal Term and the Third Renewal Term shall be the “Fair Market Rental Rate” which shall mean the per rentable square foot minimum annual rental rate including annual escalations, then being charged by landlords for comparable space in the Xxxxxxxxxxx, Xxxxxx and Basking Ridge market for leases commencing on or about the commencement of the applicable Renewal Term, taking into consideration all relevant terms, including, without limitation, the use, location of the applicable building, the term of this Lease for the lease under consideration, the extent of services provided thereunder and other adjustments to the minimum annual rental and any Renewal Term is contingent upon there other relevant terms such as, but not being any Lease Event of Default limited to, rent abatement, refurbishment allowances, new Base Year and other concessions or condition in existence on making such evaluation. Landlord shall determine the date of Lessee’s exercise Fair Market Rental Rate using its good faith judgment and shall provide written notice of such right or on the date that the Renewal Term commences.Fair Market Rental Rate within fifteen (15) business days after Tenant’s exercise