Common use of RENEWAL PRIVILEGES Clause in Contracts

RENEWAL PRIVILEGES. SECTION 20.01. Subject to the provisions of Sections 20.03 and 20.04 hereof, the term of this lease may, at the option of Sublessee, by written notice to Sublessor as herein provided, be renewed and extended as follows: FIRST RENEWAL TERM--May 30, 1976 to December 29, 1987 SECOND RENEWAL TERM--December 30, 1987 to December 29, 2008 THIRD RENEWAL TERM--December 30, 2008 to December 29, 2029 Any such renewal option shall be exercised by written notice given by Sublessee to Sublessor at least 18, and not more than 30, months prior to the commencement of the particular renewal term, and (subject to the provisions of Section 20.03 hereof) if such notice shall have so been given and this lease, and the Mesne Lease and the Ground Lease CON 5024 PAGE 599 74 shall be in effect on the day next preceding the commencement of such renewal term this lease shall thereupon be automatically renewed for such renewal term. Each renewal term shall be upon the same terms, covenants and conditions as in this lease provided, except that the basic rent for each renewal term shall be Eight Hundred Forty Four Thousand Dollars ($844,000) annually. There shall be no privilege to Sublessee of renewals of the terms of this lease beyond the Third Renewal Term referred to above. Payment of overage rent, all other additional rent and other charges on the part of Sublessee to be made as in this lease provided shall continue to be made during each of such renewal terms. Any termination of this lease terminate shall any right of renewal hereunder.

RENEWAL PRIVILEGES. SECTION 20.01. Subject to the provisions of Sections 20.03 and 20.04 hereof, the term of this lease may, at the option of SublesseeSub-subtenant, by written notice to Sublessor Sub-sublandlord as herein provided, be by renewed and extended as follows: FIRST RENEWAL TERM--May 30, 1976 29,1976 to December 2928, 1987 SECOND RENEWAL TERM--December 30, 1987 29,1987 to December 2928, 2008 THIRD RENEWAL TERM--December 30, 2008 29,2008 to December 2928, 2029 Any such renewal option shall be exercised by written notice given by Sublessee Sub-subtenant to Sublessor Sub-sublandlord at least 18, 24 and not more than 30, 30 months prior to the commencement of the particular renewal term, and (subject to the provisions of Section 20.03 hereof) if such notice shall have so been given and this lease, and the Operating Lease, the Mesne Lease and the Ground Lease CON 5024 PAGE 599 74 shall be in effect on the day next preceding the commencement of such renewal term this lease shall thereupon be automatically renewed for such renewal term. Each renewal term shall be upon the same terms, covenants and conditions as in this lease provided, except that the basic rent for each renewal term shall be Eight Hundred Forty Four Thousand Dollars ($844,000) annually. There there shall be no privilege to Sublessee Sub-subtenant of renewals of the terms of this lease beyond the Third Renewal Term referred to above. Payment of overage rent, all other additional rent and other charges on the part of Sublessee Sub-subtenant to be made as in this lease provided shall continue to be made during each of such renewal terms. Any termination of this lease shall terminate shall any right of renewal hereunder.

RENEWAL PRIVILEGES. SECTION 20.01. Subject to the provisions of Sections 20.03 and 20.04 hereof, the term of this lease may, at the option of Sublessee, Tenant by written notice to Sublessor Landlord as herein provided, be renewed and extended as follows: FIRST RENEWAL TERM--May 3031, 1976 to December 2930, 1987 SECOND RENEWAL TERM--December 3031, 1987 to December 29, 2008 30,2008 THIRD RENEWAL TERM--December 3031, 2008 to December 2930, 2029 Any such renewal option shall be exercised by written notice given by Sublessee Tenant to Sublessor Landlord at least 1812, and not more than 30, months prior to the commencement of the particular renewal term, and (subject to the provisions of Section 20.03 hereof) if such notice shall have so been given and this lease, and the Mesne Lease lease and the Ground Lease CON 5024 PAGE 599 74 shall be in effect on the day next preceding the commencement of such renewal term this lease shall thereupon be automatically renewed for such renewal term. Each renewal term shall be upon the same terms, covenants and conditions as in this lease provided, except that the basic net rent for each renewal term shall be Eight Five Hundred Forty Four Thousand Dollars ($844,000) annually540,000). There shall be no privilege to Sublessee Tenant of renewals of the terms of this lease beyond the Third Renewal Term referred to above. Payment of overage rent, all other additional rent and other charges on the part of Sublessee Tenant to be made as in this lease provided shall continue to be made during each of such renewal terms. Any termination of this lease shall terminate shall any right of renewal hereunder.

RENEWAL PRIVILEGES. SECTION Section 20.01. Subject to the provisions of Sections 20.03 and 20.04 hereof, the The term of this lease Lease may, at the option of Sublessee, Lessee by written notice to Sublessor Lessor as herein provided, be renewed and extended for three successive periods of twenty-three (23) years each (each such period of twenty three (23) years being herein sometimes referred to as follows: FIRST RENEWAL TERM--May 30a “renewal term”), 1976 provided that Lessee shall not he in default in the payment of any net rent or additional rent hereunder or in fulfilling any of the provisions of this Lease on its part to December 29, 1987 SECOND RENEWAL TERM--December 30, 1987 to December 29, 2008 THIRD RENEWAL TERM--December 30, 2008 to December 29, 2029 Any such renewal option be fulfilled. Lessee shall be exercised by written notice given by Sublessee to Sublessor at least notify Lessor in writing not less than eighteen (18, and not more than 30, ) months prior to the commencement expiration of the particular initial term or of each of the first two renewal terms that Lessee elects to extend the term of this Lease for a renewal term or further renewal term, and (subject to as the provisions of Section 20.03 hereof) if such notice shall have so been given and this lease, and the Mesne Lease and the Ground Lease CON 5024 PAGE 599 74 shall be in effect on the day next preceding the commencement of such renewal term this lease shall thereupon be automatically renewed for such renewal termcase may be. Each renewal term shall be upon the same terms, covenants and conditions as in this lease Lease provided, except that the basic net rent for each of the three renewal term terms shall be Eight at the rate of Three Hundred Forty Four Thousand and 00/100 Dollars ($844,000340,000) annually. There per annum, all of such rent to be payable in monthly installments, equal as nearly as may be, in advance; and except that there shall be no privilege to Sublessee Lessee of renewals of the terms of this lease Lease beyond the Third Renewal Term third renewal term referred to above. Payment of overage rent, all other additional rent and other charges on the part of Sublessee Lessee to be made as in this lease Lease provided shall continue to be made during each of such renewal terms. Any termination of this lease Lease shall terminate shall any right of renewal hereunder.