Common use of Second Renewal Option Clause in Contracts

Second Renewal Option. Provided (i) Tenant is not in default beyond any applicable grace or cure period as of the date of exercise of the Second Renewal Option (as hereinafter defined) nor at the date of the commencement of the Second Renewal Option; and (ii) Tenant has not sublet any part of the Premises or assigned any part of the Lease (except for assignments or subleases permitted under the Lease without Landlord’s consent), Tenant shall have the right to renew the term of the Lease for one period of five (5) years (“Second Renewal Option”), commencing September 1, 2028 (“Second Renewal Commencement Date”) and expiring August 31, 2033. During the term of the Second Renewal Option, Base Rent shall be at the following rates: Based on 15,313RSF Period S/RSF Monthly [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] Tenant shall exercise the Second Renewal Option by furnishing Landlord written notice of Tenant’s exercise of the Second Renewal Option (“Second Renewal Notice”) by 5:00 p.m., Troy, Michigan time, on February 29, 2028. Landlord shall, within five (5) days of receipt of Tenant’s Second Renewal Notice, deliver a Lease amendment solely documenting the new terms for the Second Renewal Option as set forth above. Tenant shall promptly execute the amendment, thus confirming the exercise of the Second Renewal Option. All of the other terms and conditions shall remain as provided in this Lease and Tenant shall occupy the Premises throughout the Second Renewal Option in its then, as-is condition (subject to Landlord’s express obligations under the Lease). The Second Renewal Option is personal to Tenant and shall not be assignable or transferable to any other party whatsoever.

Second Renewal Option. Provided (i) As long as Tenant is not in default beyond any applicable grace or cure period as in the performance of its covenants under this Lease, Landlord shall grant Tenant the date of exercise of option to renew (the Second Renewal Option (as hereinafter defined) nor at the date of the commencement of the "Second Renewal Option; and (ii") Tenant has not sublet any part of the Premises or assigned any part of the Lease (except for assignments or subleases permitted under the Lease without Landlord’s consent), Tenant shall have the right to renew the term of the this Lease for one a period of five sixty (560) years additional months (“the "Second Renewal Option”Term"), commencing September 1, 2028 (“Second Renewal Commencement Date”) and expiring August 31, 2033. During the term of the Second Renewal Option, Base Rent shall be at the following rates: Based on 15,313RSF Period S/RSF Monthly [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] Tenant shall exercise the Second Renewal Option by furnishing Landlord delivering written notice of Tenant’s such election to Landlord at least twelve (12) months prior to the expiration of the initial term of this Lease. The renewal of this Lease shall be upon the same terms and conditions of this Lease, except (i) the Base Rental Rate during the Second Renewal Term shall be calculated based on the prevailing Market Base Rental Rate at the time the Second Renewal Term commences, (ii) Tenant shall have no option to renew this Lease beyond the expiration of the Second Renewal Term and (iii) Tenant shall not have the right to assign its renewal rights to any sublessee of the Premises or any portion thereof or to any assignee of the Lease, nor may any such sublessee or assignee exercise or enjoy the benefit of such renewal rights, except for those parties referenced in paragraph 11(d) of the Lease. Notwithstanding the foregoing, Tenant shall have no right to exercise such option to renew, and Landlord shall have no obligation to renew this Lease, unless (A) this Lease shall be in full force and effect upon the date of the exercise of the Second Renewal Option and upon the date of the expiration of the original term, and (“Second Renewal Notice”B) by 5:00 p.m., Troy, Michigan time, on February 29, 2028. Landlord shall, within five (5) days the date of receipt of Tenant’s Second Renewal Notice, deliver a Lease amendment solely documenting the new terms for the Second Renewal Option as set forth above. Tenant shall promptly execute the amendment, thus confirming the exercise of the Second Renewal Option. All Option and on the date of the other terms expiration of the original term there shall exist no current default on the part of Tenant under this Lease. If Tenant shall fail to exercise the Second Renewal Option within the time permitted or conditions (A) and conditions (B) set forth above are not entirely satisfied, the Second Renewal Option shall automatically terminate, this Lease shall expire at the expiration of the First Renewal Term and Tenant shall have no further right thereafter to renew this Lease or to acquire any interest whatsoever in the Premises. If Tenant shall remain in possession of the Premises after the expiration of the First Renewal Term without there having been executed between Landlord and Tenant an amendment to this Lease as contemplated by the terms of this Section, then Tenant shall be a Tenant holding over as provided in this Lease and Tenant shall occupy the Premises throughout the Second Renewal Option in its then, as-is condition (subject to Landlord’s express obligations under the Lease). The Second Renewal Option is personal to Tenant and shall not be assignable or transferable to any other party whatsoever.

Second Renewal Option. Provided (ia) As long as an event of default by Tenant has not occurred and is not in default beyond any applicable grace or cure period as of continuing, Landlord shall grant and does hereby grant Tenant the date of exercise of option to renew (the Second Renewal Option (as hereinafter defined) nor at the date of the commencement of the "Second Renewal Option; and (ii") Tenant has not sublet any part of the Premises or assigned any part of the Lease (except for assignments or subleases permitted under the Lease without Landlord’s consent), Tenant shall have the right to renew the term of the this Lease for one a period of five sixty (560) years additional months (“the "Second Renewal Option”Term"), commencing September 1, 2028 (“Second Renewal Commencement Date”) and expiring August 31, 2033. During the term of the Second Renewal Option, Base Rent shall be at the following rates: Based on 15,313RSF Period S/RSF Monthly [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] Tenant shall exercise the Second Renewal Option by furnishing Landlord delivering written notice of Tenant’s such election to Landlord at least twelve (12) months prior to the expiration of the First Renewal Term of this Lease. The renewal of this Lease shall be upon the same terms and conditions of this Lease, except (i) the Base Rental Rate during the Second Renewal Term shall be calculated based on the prevailing Market Base Rental Rate (as hereinafter defined) at the time the Second Renewal Term commences, (ii) with the exception of the potential assignees or sublessees described in Paragraph 5(b) of this Exhibit "G", Tenant shall have no option to renew this Lease beyond the expiration of the Second Renewal Term, and (iii) Tenant shall not have the right to assign its renewal rights to any sublessee of the Demised Premises or any portion thereof or to any assignee of the Lease, nor may any such sublessee or assignee exercise to enjoy the benefit of such renewal rights, and (iv) the leasehold improvements will be provided in their then-existing condition at the time the Second Renewal Term commences, and there shall not be any rent abatement period and Tenant shall not be entitled to cash payment, concessions or allowance of any nature or amount whatsoever. Notwithstanding the foregoing, Tenant shall have no right to exercise such option to renew, and Landlord shall have no obligation to renew this Lease, unless (A) this Lease shall be in full force and effect upon the date of the exercise of the Second Renewal Option and upon the date of the expiration of the First Renewal Term, and (“Second Renewal Notice”B) by 5:00 p.m., Troy, Michigan time, on February 29, 2028. Landlord shall, within five (5) days the date of receipt of Tenant’s Second Renewal Notice, deliver a Lease amendment solely documenting the new terms for the Second Renewal Option as set forth above. Tenant shall promptly execute the amendment, thus confirming the exercise of the Second Renewal Option. All Option and on the date of the other terms expiration of the First Renewal Term there shall exist no event of default on the part of Tenant under this Lease for which Landlord has given notice and which remains uncured by Tenant after the expiration of any applicable period of grace or cure. If Tenant shall fail to exercise the Second Renewal Option within the time permitted or conditions (A) and (B) set forth above are not entirely satisfied, the Second Renewal Option shall automatically terminate, this Lease shall expire at the expiration of the First Renewal Term and Tenant shall have no further right thereafter to renew this Lease or to acquire any interest whatsoever in the Demised Premises. If Tenant shall remain in possession of the Demised Premises after the expiration of the First Renewal Term without there having been executed between Landlord and Tenant an amendment to this Lease as contemplated by the terms of this Section, then Tenant shall be a Tenant holding over as provided in this Lease and Tenant shall occupy the Premises throughout the Second Renewal Option in its then, as-is condition (subject to Landlord’s express obligations under the Lease). The Second Renewal Option is personal to Tenant and shall not be assignable or transferable to any other party whatsoever.