Common use of Renewals and Extensions Clause in Contracts

Renewals and Extensions. Unless the exercise of any option, now existing or hereafter created, to renew or extend the term of any Lease would, in the Mortgagor’s reasonable business judgment, be inadvisable, the Mortgagor shall, at least ninety days prior to the last day upon which the Mortgagor may validly exercise such option, (i) exercise such option in such manner as will cause the term of such Lease to be effectively renewed or extended for the period provided by such option and (ii) give immediate notice thereof to the Mortgagee, it being understood that in the event of the failure of the Mortgagor to do so, the Mortgagee shall have, and is hereby granted, the irrevocable right to exercise any such option, either in its own name and behalf, or in the name and behalf of the Mortgagor, as the Mortgagee shall in its reasonable discretion determine.

Renewals and Extensions. Unless the exercise of any option, now existing or hereafter created, to renew or extend the term of any the Lease would, in the Mortgagor’s 's reasonable business judgment, be inadvisable, the Mortgagor shall, at least ninety days prior to the last day upon which the Mortgagor may validly exercise such option, (i) exercise such option in such manner as will cause the term of such the Lease to be effectively renewed or extended for the period provided by such option and (ii) give immediate notice thereof to the Mortgagee, it being understood that in the event of the failure of the Mortgagor to do so, the Mortgagee shall have, and is hereby granted, the irrevocable right to exercise any such option, either in its own name and behalf, or in the name and behalf of the Mortgagor, as the Mortgagee shall in its reasonable discretion determine.

Renewals and Extensions. Unless the exercise of any option, now existing or hereafter created, to renew or extend the term of any Lease of the Leases would, in the Mortgagor’s reasonable business judgment, be inadvisable, the Mortgagor shall, at least ninety (90) days prior to the last day upon which the Mortgagor may validly exercise such option, (i) exercise such option in such manner as will cause the term of such Lease each of the Leases to be effectively renewed or extended for the period provided by each such option and (ii) give immediate notice thereof to the Mortgagee, it being understood that in the event of the failure of the Mortgagor to do so, the Mortgagee shall have, and is hereby granted, the irrevocable right to exercise any such option, either in its own name and behalf, or in the name and behalf of the Mortgagor, as the Mortgagee shall in its reasonable discretion determine.

Renewals and Extensions. Unless the exercise of any option, now existing or hereafter created, to renew or extend the term of any the Lease would, in the Mortgagor’s 's reasonable business judgment, be inadvisable, the Mortgagor shall, at least ninety days six months prior to the last day upon which the Mortgagor may validly exercise such option, (i) exercise such option in such manner as will cause the term of such the Lease to be effectively renewed or extended for the period provided by such option and (ii) give immediate notice thereof to the Mortgagee, it being understood that in the event of the failure of the Mortgagor to do so, the Mortgagee shall have, and is hereby granted, the irrevocable right to exercise any such option, either in its own name and behalf, or in the name and behalf of the Mortgagor, as the Mortgagee shall in its reasonable sole discretion determine.. Mortgage