Second Option to Renew. If the Term of this Lease has been renewed as provided above, Tenant is hereby granted the option to renew this Lease for the Second Renewal Term for each Facility, which option shall be exercised by Notice to Landlord at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the expiration of the First Renewal Term for such Facility; provided, however, that no Event of Default exists either on the date on which Tenant gives such Notice to Landlord or on the date on which the First Renewal Term expires. During the Second Renewal Term, all of the terms and conditions of this Lease shall remain in full force and effect.
Appears in 3 contracts
Samples: Master Lease (Monarch Properties Inc), Master Lease (Monarch Properties Inc), Master Lease (Integrated Health Services Inc)
Second Option to Renew. If the Term of this Lease has been renewed as provided in Section 1.4 above, Tenant is hereby granted the option to renew this Lease for the Second Renewal Term for each the Facility, which option shall be exercised by Notice to Landlord at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the expiration of the First Renewal Term for such the Facility; provided, however, that no Event of Default exists either on the date on which Tenant gives such Notice to Landlord or on the date on which the First Renewal Term expires. During the Second Renewal Term, all of the terms and conditions of this Lease shall remain in full force and effect.
Appears in 2 contracts
Samples: Lease (Monarch Properties Inc), Lease Agreement (Monarch Properties Inc)