Common use of Tenant’s Extension Option Clause in Contracts

Tenant’s Extension Option. Section 42.01. Provided this Lease shall then be in full force and effect and Tenant shall not be in default hereunder beyond any applicable notice or grace period either as of the date of Tenant's exercise of the extension option described herein or as of the day which would otherwise be the first day of the Extension Term, as defined herein (which conditions regarding default may be waived by Landlord in its sole discretion), Tenant shall have the right, at its option, to extend the Term for a single five (5) year period (the "Extension Term"). The Extension Term shall commence on the day immediately following the original Expiration Date and shall expire on the day prior to the fifth (5th) anniversary of such date unless the Extension Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease or pursuant to law. Tenant shall give Landlord written notice of Tenant's intention to exercise such option on or before the date which is nine (9) months prior to the original Expiration Date, the time of exercise being of the essence, and upon the giving of such notice, this Lease and the Term shall be extended without execution or delivery of any other or further documents, with the same force and effect as if the Extension Term had originally been included in the Term and the Expiration Date shall thereupon be deemed to be the last day of the Extension Term. All of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, including items of additional rent and escalation which shall remain payable on the terms herein set forth, except that the Fixed Rent shall be as determined in accordance with Section 42.02 of this Article and Tenant shall have no further right to extend the Term pursuant to this Article.

Tenant’s Extension Option. Section 42.01. A. Provided (i) this Lease lease shall then be in full force and effect and effect, (ii) Tenant shall not be in default hereunder beyond all applicable notice, grace and/or cure periods of any applicable notice monetary or grace period material non-monetary obligations either as of the date of Tenant's ’s exercise of the extension option described herein or as of the day which would otherwise be the first day of the Extension Term, as defined herein (which conditions regarding default may be waived by Landlord in its sole discretion), and (iii) Tenant shall then be in physical occupancy of the entire demised premises, Tenant shall have the right, at its option, one (1) option to extend the Term term of this lease for a single an additional term of five (5) year period years (the "“Extension Term"”). The Extension Term shall commence on the day immediately following the original Expiration Date and shall expire on the day prior to the fifth (5th) anniversary of such date the Expiration Date unless the Extension Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease lease or pursuant to law. Tenant shall give Landlord written notice of Tenant's ’s intention to exercise such option on or before the date which is nine not less than eighteen (918) months nor more than twenty-one (21) months prior to the original Expiration Date, the time of exercise being of the essence, and upon the giving of such notice, this Lease lease and the Term term hereof shall be extended without execution or delivery of any other or further documents, with the same force and effect as if the Extension Term had originally been included in the Term term of this lease, and the Expiration Date shall thereupon be deemed to be the last day of the Extension Term. All Except as otherwise provided in this Article, all of the terms, covenants and conditions of this Lease lease shall continue in full force and effect during the Extension Term, including items of additional rent and escalation rent which shall remain payable on the terms herein set forth, except that the Fixed Rent shall be as determined in accordance with Section 42.02 of this Article and Tenant shall have no further right to extend the Term pursuant to this Article.

Tenant’s Extension Option. Section 42.01. (a) Provided the Lease, as modified by this Lease Seventeenth Amendment, shall then be in full force and effect and Tenant shall not be in default hereunder thereunder beyond any applicable notice or grace period either with respect to any monetary (i.e., the payment of fixed minimum rent or additional rent) or material non-monetary covenants of the Lease, as modified by this Seventeenth Amendment, as of the date of Tenant's exercise of the extension option described herein or as of the day which would otherwise be the first day of the Extension Term, as defined herein (which conditions condition regarding default may be waived by Landlord in its sole discretion), Tenant shall have the right, at its option, to extend the Term for a single five (5) year period (the "New Extension Term"), subject to the conditions and limitations hereafter stipulated. The New Extension Term shall commence on the day immediately following the original Further Extended Term Expiration Date and shall expire on the day prior to the fifth (5th) anniversary of such date unless the New Extension Term shall sooner end pursuant to any of the termscovenants, covenants conditions or conditions agreements of the Lease, as modified by this Lease Seventeenth Amendment, or pursuant to law. Tenant shall give Landlord written notice of Tenant's intention to exercise of such option on or before the date which is nine twenty-four (924) months prior to the original Further Extended Term Expiration Date (the date which is 24 months prior to the Further Extended Term Expiration Date being hereinafter referred to as the "New Extension Exercise Date"), the time of exercise being of the essence, and upon the giving of such notice, the Lease, as modified by this Lease Seventeenth Amendment, and the Term shall be extended without execution or delivery of any other or further documents, with the same force and effect as if the New Extension Term had originally been included in the Term and 57 -45- Xxxxx) xxxxx xx xxxtiguous to one another to the Expiration Date shall thereupon be deemed to be extent they are contiguous in the last day Premises Under Lease as of the New Extension Exercise Date (by way of example, Tenant may not lease the 36th and 38th floors without also leasing the 37th floor). Tenant's written notice of its exercise of Tenant's option shall specify the spaces as to which Tenant elects to extend the Term; provided, however, that as long as Tenant shall have extended the Term and actually ultimately extends as to not less than 245,850 rentable square feet of space after giving effect to the option contained immediately below, Tenant shall have the option to give Landlord a written notice of Tenant's election to reduce the space as to which Tenant elects to extend the Term by eliminating either one (1) or two (2) full floors (and with respect to full floors only) on or before the date which is six (6) months after the New Extension Exercise Date, the time of exercise being of the essence, and upon the giving of such notice, such space shall, automatically and without more, be eliminated from the space covered by the New Extension Term and without any other effect whatsoever on the exercise by Tenant of its option to extend the Term, provided, however, further, that such option to eliminate either one (1) or two (2) full floors shall be expressly conditioned upon the remaining space as to which the Term shall have been extended satisfying all of the conditions of clauses (ii) and (iii) of the immediately preceding sentence. All of the termscovenants, covenants conditions and conditions agreements of the Lease, as amended by this Lease Seventeenth Amendment, shall continue in full force and effect during the New Extension Term, including items of additional rent and escalation which shall remain payable on the terms herein set forth, except that (i) the Fixed Rent annual fixed minimum rent specified in Section 3.01 of the Lease, as modified by this Seventeenth Amendment, shall be as determined in accordance with Section 42.02 subsection (b) of this Article Section 8, (ii) Landlord shall have no obligation to make any changes, improvements or 59 -47- alterations to the Leased Premises and/or the Building, nor to contribute any monies to Tenant in connection therewith (provided, however, that the foregoing shall not impair, abrogate or otherwise diminish Landlord's other obligations as are expressly set forth elsewhere in the Lease, as modified by this Seventeenth Amendment), nor to grant any rental concessions or other lease procurement costs and (iii) Tenant shall have no further right to extend the Term pursuant to this ArticleSection 8 or otherwise.

Tenant’s Extension Option. The first paragraph of Section 42.01. Provided III(b) of the 1995 Lease is hereby deleted in its entirety and the following is substituted in its place: On the conditions (which conditions Landlord may, at its election, waive by written notice to Tenant at any time), that: (i) no Termination Event, as defined in Section 4.3 of the Amendment of Leases, has occurred prior to the commencement of the Additional Term in question, (ii) both at the time that Tenant gives Landlord written notice exercising its extension option under this Section 6, and as of the commencement of the Additional Term in question, Tenant is not in default of its obligations under the 1995 Lease, and (iii) both at the time that Tenant gives Landlord written notice exercising its extension option under this Section 6, and as of the commencement of the Additional Term in question, the 1995 Lease shall then be is in full force and effect and Tenant shall not be in default hereunder beyond any applicable notice or grace period either as of the date of Tenant's exercise of the extension option described herein or as of the day which would otherwise be the first day of the Extension Term, as defined herein (which conditions regarding default may be waived by Landlord in its sole discretion)effect, Tenant shall have the right, at its option, to extend the Term for a single five (5) year period (the "Extension Term"). The Extension Term shall commence on the day immediately following the original Expiration Date and shall expire on the day prior to the fifth (5th) anniversary of such date unless the Extension Term shall sooner end pursuant to any of the terms, covenants or conditions of this Lease or pursuant to law. Tenant shall give Landlord written notice of Tenant's intention to exercise such option on or before the date which is nine (9) months prior to the original Expiration Date, the time of exercise being of the essence, and upon the giving of such notice, this Lease and the Term shall be extended without execution or delivery of any other or further documents, with the same force and effect as if the Extension Term had originally been included in the Term and the Expiration Date shall thereupon be deemed to be the last day of the Extension Term. All of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, including items of additional rent and escalation which shall remain payable on the terms herein set forth, except that the Fixed Rent shall be as determined in accordance with Section 42.02 of this Article and Tenant shall have no further right to extend the term of the 1995 Lease with respect to the 1995 Premises for two additional terms of three (3) years each (each an “Additional Term”), the first such Additional Term pursuant commencing as of January 1, 2011 and expiring as of December 31, 2013, and the second such Additional Term commencing as of January 1, 2014 and expiring as of December 31, 2016. Tenant may exercise its right to this Article.extend the term of the 1995 Lease for the first Additional Term by giving written notice to Landlord on or before January 1, 2010, and, provided that Tenant has exercised its right to extend the term of the Lease for the second Additional Term by giving written notice to Landlord on or before January 1, 2013. Each such Additional Term shall be upon all of the same terms and conditions of the 1995 Lease applicable to the 1995 Premises which are in effect immediately preceding the commencement of such Additional Term, except that: