Common use of Tenant’s Option to Extend Term Clause in Contracts

Tenant’s Option to Extend Term. Landlord hereby grants to Tenant the option to extend the Lease Term (the “Extension Option”) for one additional period of five (5) years (the “Extension Term”), on the terms and subject to the conditions set forth in this Section; provided, however that if Tenant is in Default either at the time Tenant exercises the Extension Option or at any time thereafter prior to or upon the commencement of the Extension Term, Landlord shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Option, if at all, by giving Landlord unconditional, irrevocable written notice of such election no earlier than twelve (12) months and no later than nine (9) months prior to the then scheduled Expiration Date of the Term, the time of such exercise being “of the essence”. Subject to the provisions of this Section, upon the giving of such notice, this Lease and the Lease 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 Lease Term. If Tenant does exercise its Extension Option in accordance with the procedure set forth above, all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration date of the letter of credit it has provided to Landlord as a Security Deposit to cover the Extension Term and the Base Monthly Rent during the Extension Term shall be one hundred percent (100%) of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights to extend the Lease Term after the expiration of the Extension Term. The Prevailing Market Rate shall be determined in the manner set forth hereinbelow:

Tenant’s Option to Extend Term. Landlord hereby grants to Tenant The Tenant, provided it is Nevada Geothermal Power Inc. and is itself in occupation of the whole of the Premises and provided it has not been in material default during the Term, shall have one option to extend the Term of the Lease Term (the “Extension Option”) for one additional a further period of five (5) years (the “Extension "Extended Term”"), such option to be exercised upon twelve (12) months' written notice to the Landlord, prior to the expiry of the initial Term, not to be given sooner than eighteen (18) months prior to expiry of the initial Term. The Extended Term shall be on the same terms and subject to the conditions as set forth in this Section; providedthe Lease save and except for Basic Rent, however that if which shall be negotiated as hereinafter set out, and there shall be no further right of extension and/or renewal, improvement allowance, free rent, fixturing period, any other incentive or inducement. The Basic Rent payable by the Tenant is in Default either at during the time Tenant exercises Extended Term shall be negotiated and agreed upon between the Extension Option or at any time thereafter parties prior to or upon the commencement of the Extension Term, Landlord shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, Extended Term based on the right to terminate prevailing fair market Basic Rent at the Extension Option and to unilaterally revoke Tenant’s exercise commencement of the Extension OptionExtended Term for similarly improved premises of similar size, quality, use and location in which event this Lease shall expire on the office buildings of a similar size, quality and location in downtown Vancouver, British Columbia. Failing such agreement, then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Option, if at all, by giving Landlord unconditional, irrevocable written notice of such election no earlier than twelve within two (12) months and no later than nine (92) months prior to the then scheduled Expiration Date commencement of the Extended Term, the time of such exercise being “of the essence”. Subject to Basic Rent shall be determined by arbitration under the provisions of this Section, upon the giving of such notice, this Lease Commercial Arbitration Act (British Columbia) and the Lease 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 Lease Term. If Tenant does exercise its Extension Option in accordance with this clause provided that the procedure set forth above, all Basic Rent payable shall not in any case be less than that payable by the Tenant during the last year of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration date of the letter of credit it has provided to Landlord as a Security Deposit to cover the Extension Term and the Base Monthly Rent during the Extension Term shall be one hundred percent (100%) of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights to extend the Lease Term after the expiration of the Extension initial Term. The Prevailing Market Rate shall be determined in Tenant covenants and agrees to execute any document or instrument which the manner set forth hereinbelow:Landlord reasonably requires under this provision, including but not limited to the Landlord’s form of extension and amending agreement prepared by the Landlord to give effect to the Extended Term.

Tenant’s Option to Extend Term. Landlord hereby grants In the event this Lease is in full force and effect without notice of default to Tenant or, if such notice of default has been given, Tenant is acting promptly and diligently to cure the option same and applicable grace periods, if any, have not expired, and the original Tenant or any successor Tenant to whom the original Tenant can transfer its interest under this Lease by right and without Landlord's consent pursuant to Section 8.9 (the "Successor Tenant") holds the entire tenant's interest hereunder and is in occupancy of the Premises and engaged in the active conduct of its business, the original Tenant or such Successor Tenant, as the case may be, may extend the Lease initial Term (the “Extension Option”) for one additional period of five (5) years (from the “Extension Term”), Termination Date on the terms and subject to the conditions set forth in of this Section; providedlease (except for Annual Fixed Rent, however that if Tenant is in Default either at the time Tenant exercises the Extension Option or at any time thereafter prior to or upon the commencement of the Extension Term, Landlord which shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Option, if at allbe determined as follows), by giving Landlord unconditional, irrevocable written notice of such election no earlier than at least twelve (12) months prior written notice thereof to Landlord, and no later than nine thereafter all references in this Lease to the Term shall also include the Term as extended. At Tenant's written request made at least thirty (930) months days prior to the last day for Tenant to exercise the extension option under section 3.4 (but not more than sixty (60) days prior thereto), Landlord agrees to state in writing the fair market rent to which Landlord would agree for the extended Term ("Landlord's Rent Statement"). If Tenant makes such request, then scheduled Expiration Date the last day on which Tenant may exercise its option to extent the term shall be the later of (i) the Termdate set forth above or (ii) ten (10) business days after receiving Landlord's Rent Statement. Notwithstanding the foregoing, Annual Fixed Rent for the time of such exercise being “of the essence”. Subject to the provisions of this Section, upon the giving of such notice, this Lease and the Lease extended Term shall be extended without execution or delivery of any other or further documents, with the same force and effect established as if the Extension Term had originally been included in the Lease Term. If Tenant does exercise its Extension Option in accordance with the procedure set forth above, all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration date of the letter of credit it has provided to Landlord as a Security Deposit to cover the Extension Term and the Base Monthly Rent during the Extension Term shall be one hundred percent (100%) of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights to extend the Lease Term after the expiration of the Extension Term. The Prevailing Market Rate shall be determined in the manner set forth hereinbelow:section 6.1.

Tenant’s Option to Extend Term. Landlord hereby grants to Provided Tenant is not in default under the option Lease, either at the time Tenant makes such election or at the time the Extension Period (as defined below) would otherwise commence, and Tenant has not received three (3) or more notices of events of default during the previous five years, Tenant shall have the number of options to extend the Lease Term (set forth in Item 5 of the “Extension Option”) Basic Lease Provisions, such option being for one an additional period of five (5) years (the “Extension TermPeriod”), on the terms and subject to the conditions set forth in this Section; provided, however that if Tenant is in Default either at the time Tenant exercises the Extension Option or at any time thereafter prior to or upon the commencement of the Extension Term, Landlord . Such option shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Optionbe exercised, if at all, by Tenant giving Landlord unconditional, irrevocable written notice of such election no earlier exercise thereof (the “Option Notice”) to Landlord not fewer than nine (9) months nor more than twelve (12) months and no later than nine (9) months prior to the then scheduled Expiration Date in advance of the Termexpiration of the then-current Lease Term of this Lease. In the event Tenant exercises the option to extend this Lease, the time of such exercise being “Lease shall continue for the Extension Period on all of the essence”. Subject to terms and conditions as herein set forth, provided that Base Rent for the provisions of this Section, upon the giving of such notice, this Lease Extension Period shall be as set forth in Section 3.4; and the Lease Term shall be extended without execution deemed to include such Extension Period; and Landlord will not be obligated to improve the Premises 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 Lease Termto contribute to their improvement. If Tenant does not exercise its Extension Option the extension option as provided herein, then all remaining unexercised term extension rights hereunder shall become null and void. The extension option shall be personal to the original Tenant named herein, or a transferee which succeeds to such original Tenant’s interest herein pursuant to an Exempt Transfer as described in accordance with the procedure set forth aboveSection 9.1(c) hereof, all of the terms, covenants but shall become null and conditions void upon any other assignment or sublease of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration date of the letter of credit it has provided to Landlord as a Security Deposit to cover the Extension Term and the Base Monthly Rent during the Extension Term shall be one hundred percent (100%) of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights to extend the Lease Term after the expiration of the Extension Term. The Prevailing Market Rate shall be determined in the manner set forth hereinbelow:by Tenant.

Tenant’s Option to Extend Term. Landlord hereby grants to Section 37.01. Provided that Tenant is not then in default under the option to terms of this Lease beyond any applicable cure periods, Tenant may, at Tenant’s option, extend the term of this Lease Term (the “Extension Option”) for one an additional period of five (5) years (the “Extension Extended Term”), ) commencing on the terms and subject to date following the conditions set forth in this Section; provided, however that if Tenant is in Default either at the time Tenant exercises the Extension Option or at any time thereafter prior to or upon the commencement expiration of the Extension Terminitial term, Landlord shall have, in addition such option to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and be exercised by Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Option, if at all, by giving Landlord unconditional, irrevocable formal written notice of such election no earlier than twelve (12) months and no thereof to Landlord by United States registered or certified mail, return receipt requested, not later than nine (9) months prior to the then scheduled Expiration Date expiration of the Terminitial term, TIME IS OF THE ESSENCE. If Tenant fails to give said notice as above provided, it shall be deemed without further notice or agreement between the time of such parties hereto that Tenant elected not to exercise being “said option. If Tenant timely exercises its option to extend the term, then if this Lease shall be in full force and effect on the last day of the essence”. Subject to the provisions of this Section, upon the giving of such noticeinitial term, this Lease and shall be extended for a period of five (5) years commencing on the Lease date following the expiration of the initial term. Except as hereinafter provided, the Extended Term shall be extended without execution or delivery of any other or further documentsupon all the covenants, with the same force and effect as if the Extension Term had originally been included in the Lease Term. If Tenant does exercise its Extension Option in accordance with the procedure set forth aboveagreements, all of the terms, covenants provisions and conditions of this Lease (except such covenants, agreements, terms, provisions and conditions of this Lease as shall continue be inapplicable or irrelevant). (a) During the Extended Term, the annual rental shall be the greater of (i) the Fixed Rent in full force and effect during the Extension last year of the initial term plus the additional rent as provided in Articles 24 and 26 at the then current rates by reason of the then current operating expenses of the Building and then current electrical consumption by Tenant; or (ii) the fair rental value of the Premises as determined pursuant to this Article. (b) The fair rental value of the Premises to be determined in fixing the rental for the Extended Term, by agreement of the parties, shall be based upon the fair rental value of the Premises as of the end of the initial term. There shall be taken into account the then current rentals and terms of comparable space in the Building and in comparable buildings in the same rental area, except that Tenant consideration shall extend the expiration date also be given to any special features of the letter Building and other buildings such as floor sizes, hours of credit it has provided to Landlord as a Security Deposit to cover the Extension Term operation of building services, and the Base Monthly Rent during the Extension Term special amenities and due consideration shall be one hundred percent given for no concessions, no additional tenant improvements or no tenant’s allowance. (100%c) of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation notify Tenant at least two hundred seventy (270) days prior to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights to extend the Lease Term after the expiration of the Extension Terminitial term of Landlord’s determination of fair rental. The Prevailing Market Rate shall be If Landlord and Tenant cannot agree at least one hundred eighty (180) days prior to the expiration of the initial term as to the fair rental, then in such event either party may elect to have such rent determined by appraisal in the manner set forth hereinbelowin paragraph (d) below. (d) In the event that Landlord and Tenant are unable to agree as to the fair rental value on the effective commencement date of the term applicable thereto, such fair rental value shall be determined by appraisal as follows: (i) Tenant shall appoint a disinterested person who is an MAI appraiser with at least ten (10) years’ experience in appraising major office buildings (and their rental values) in the State of Connecticut as an appraiser on its behalf and shall notify Landlord as to the name of the person so appointed. Within fifteen (15) days after the giving of said notice, Landlord shall, by notice to Tenant, appoint a second disinterested person possessing like qualifications as the appraiser on its behalf. If the appraisers thus appointed cannot reach agreement on the fair market annual rental value within thirty (30) days after the appointment of the second appraiser, then the two appraisers thus appointed shall appoint a third disinterested person possessing the aforesaid qualifications and such third appraiser shall alone determine the question presented as promptly as possible, provided that if the fair market annual rental value determined by such third appraiser shall exceed the higher of the annual rental value determinations of the first and second appraisers or shall be less than the lower of such annual rental value determinations, then the determination of such third appraiser shall be disregarded and the appraisal next closest in amount to such third appraisal shall instead determine said fair rental value. (ii) Tenant and Landlord shall be entitled to present evidence and arguments to the appraisers(s). (iii) The appraisers or appraiser, as the case may be, shall be required to give written notice to Tenant and Landlord stating their or his determination, and shall furnish to Tenant and Landlord a signed copy of such determination. (iv) Tenant and Landlord shall pay the costs and expenses of the appraiser appointed by it and one half of the other expenses of the appraisal procedure incurred hereunder. (e) In the event that the fair rental value has not been determined as hereinabove provided by the commencement of the Extended Term, then Tenant shall pay the amount provided for in Section 37.0 1a(i), and after the determination of such fair rental value as herein provided, Tenant shall make any further payments to Landlord as a result of such determination.

Tenant’s Option to Extend Term. Landlord hereby grants to 32.01. Tenant the option to may extend the this Lease Term for two (the “Extension Option”2) for one additional period terms of five three (53) years each (the “Extension Term”"Extended Terms"), to commence on the terms date of the expiration of the Term and the first Extended Term, respectively, subject to compliance with the following conditions set forth in this Section; providedprecedent: A. Tenant, however that if Tenant is in Default either at the time Tenant exercises of exercising each option as well as at the Extension Option or at any time thereafter prior to or upon fixed for the commencement of the Extension each Extended Term, Landlord shall have, not be in addition to all of Landlord’s other rights default under the Lease and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and at such times be in force; B. Tenant shall have no further rights under this Lease to renew or extend the Lease Term. Tenant shall exercise its Extension Option, if at all, by giving Landlord unconditional, irrevocable written given notice of such election to extend no earlier later than twelve (12) months and no later than nine (9) months prior to the then scheduled Expiration Date date of expiration of the Term or of the first Extended Term, as the case may be. The failure to do so shall be deemed an irrevocable waiver by Tenant of its right to extend or further extend the Term, as the time of such exercise being “case may be. C. The Fixed Rent for each Extended Term, if any, shall be ninety-five (95%) percent of the essence”. Subject to then fair market rental value of the provisions of this Section, upon the giving of such notice, this Lease and the Lease 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 Lease TermDemised Premises. If Tenant does exercise its Extension Option in accordance with the procedure set forth above, all of parties are unable to agree as to such fair market rental value not later than six (6) months before the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration commencement date of the letter of credit it has provided first or second Extended Term, as the case may be, if any, each party shall promptly appoint a qualified real estate appraiser or leasing broker ("appraiser") having at least ten (10) years' full-time commercial real estate (rental and fee) appraisal experience in the area in which the Office Building is located. If either party fails to Landlord as a Security Deposit to cover designate an appraiser within ten (10) days after demand by the Extension Term other party, the appraiser appointed by the other party shall alone make the determination. The appraisers appointed by the parties shall meet and promptly fix the Base Monthly Rent during the Extension Term shall be one hundred percent (100%) fair market rental value of the Prevailing Market Rate (as defined below) for the Premises. Tenant shall continue to possess and occupy the Demised Premises in its existing condition, “as-is”, as of the commencement date of such Extended Term. If they are unable to do so within thirty (30) days after the appointment of the Extension second appraiser, they shall select a third appraiser with similar qualifications. If they are unable to agree on a third appraiser, either party may apply to the assignment judge of the 45 Superior Court of the county in which the Office Building is located, for the selection of a third appraiser having the indicated qualifications and who has not previously acted for either party in any capacity. Within thirty (30) days after selection of the third appraiser, the appraisers shall meet and, by majority vote, determine the fair market rental value of the Demised Premises. In establishing the fair market rental value, the Demised Premises shall be considered as if being leased at the commencement of the first or second Extended Term, as the case may be, and Landlord shall have no obligation then constituted but unoccupied, to repaira third party, remodel, improve or alter and the Premises parties or the Buildingappraisers, as the case may be, shall be guided principally by rentals then being charged for office space of similar rentable area, layout and location in buildings of nearly comparable construction, size and age, located in comparable areas in northern New Jersey. For such purposes, any building owned or leased by Landlord, alone or with others, may be considered. Any special features of the Demised Premises and the accessory facilities (but not Tenant's Property) shall be considered and the appraisers shall receive and consider all pertinent evidence and testimony offered by the parties or their representatives, including evidence of Landlord's operating expenses and real estate taxes. If a majority of the appraisers are unable to provide Tenant with any agree on the fair market rental value, the mean average of the appraisals shall be taken as such value, provided that if either the highest or the lowest appraisal is more than fifteen (15%) percent above or below the middle appraisal, such highest or lowest appraisal shall be disregarded and the mean average of the remaining appraisals shall be used and if both the highest and lowest appraisals are thus disregarded, the middle appraisal shall govern. The parties shall bear the costs of their own appraisers and shall share the costs of the third appraisers. Ninety-five (95%) percent of the fair market rental value, as so determined, shall constitute the Fixed Rent for the Extended Term. D. All of the provisions of the Lease (other than such as are manifestly or by fair construction inapplicable or refurbishing allowance whatsoever; inconsistent) shall apply to each of the Extended Terms, except that the Fixed Rent shall be as above provided and Tenant shall have no right to any further rights to extend the Lease Term after the expiration extension. E. Tenant shall pay for its electricity as provided in Article 14. F. The Fixed Rent for each of the Extension Term. The Prevailing Market Rate Extended Term shall be determined payable in the manner set forth hereinbelow:addition to Additional Rent, as defined in Section 1.04(b), and shall be subject to annual adjustment in accordance with Article 5.

Tenant’s Option to Extend Term. Landlord hereby grants to Provided that Tenant is not in default under any provision of this Lease after notice and expiration of applicable cure periods, either at the time of exercise of the extension rights granted herein or at the time of the commencement of such extension, and provided further that Tenant (or an Affiliate of Tenant) is occupying the Premises, both at the time of exercise and at the time of commencement of such extension, Tenant shall have the option to extend the Term of this Lease Term (the “Extension Option”) for one additional period of five (5) years (the “Extension Term”), on the terms and subject with respect to the conditions set forth in this Section; provided, however that if Tenant is in Default either at the time Tenant exercises the Extension Option or at any time thereafter prior to or upon the commencement entire Premises only for two (2) periods of the Extension Term, Landlord shall have, in addition to all of Landlord’s other rights and remedies provided in this Lease, the right to terminate the Extension Option and to unilaterally revoke Tenant’s exercise of the Extension Option, in which event this Lease shall expire on the then scheduled Expiration Date, unless sooner terminated pursuant to the terms hereof, and Tenant shall have no further rights under this Lease to renew or extend the Lease Termthree (3) months each. Tenant shall exercise its Extension Optionright to extend the Term by and only by delivering to Landlord not less than ninety (90) days nor more than one hundred eighty (180) days prior to the then current expiration date of the Term, if at all, by giving Landlord unconditional, Tenant's irrevocable written notice of such election no earlier than twelve its commitment to extend (12) months and no later than nine (9) months prior the "Commitment Notice"). In the event Tenant fails to deliver a Commitment Notice in accordance with the terms of this Section for the first extension period, Tenant's rights to the then scheduled Expiration Date second extension option shall terminate. The Basic Rent payable under the Lease during such extension of the Term, the time of such exercise being “Term shall be Forty One Thousand Two Hundred Nine Dollars ($41,209.00) based on One Dollar Thirty Cents ($1.30) per square foot of the essence”Premises. Subject In addition, Tenant shall continue to pay Operating Expenses in accordance with the provisions and subject to the limitations set forth in Section 4.2 of this Lease during any such extension. If Tenant fails to timely comply with any of the provisions of this Section, upon Tenant's right to extend the giving of such notice, this Lease Term shall be extinguished and the Lease Term shall be extended without execution or delivery automatically terminate as of any other or further documents, with the same force and effect as if the Extension Term had originally been included in the Lease Term. If Tenant does exercise its Extension Option in accordance with the procedure set forth above, all of the terms, covenants and conditions of this Lease shall continue in full force and effect during the Extension Term, except that Tenant shall extend the expiration date of the letter Term, without any extension and without any liability to Landlord. Any attempt to assign or transfer any right or interest created by this paragraph, except to an "Affiliate" of credit it has provided to Landlord as a Security Deposit to cover the Extension Term and the Base Monthly Rent during the Extension Term Tenant, shall be one hundred percent (100%) of the Prevailing Market Rate (as defined below) for the Premisesvoid from its inception. Tenant shall continue to possess and occupy the Premises in its existing condition, “as-is”, as of the commencement of the Extension Term, and Landlord shall have no obligation to repair, remodel, improve or alter the Premises or the Building, or to provide Tenant with any construction or refurbishing allowance whatsoever; and Tenant shall have no further rights other right to extend the Lease Term after beyond the expiration two (2) three (3) month extensions granted pursuant to this Section. Unless agreed to in a writing signed by Landlord and Tenant, any extension of the Extension Term. The Prevailing Market Rate , whether created by an amendment to this Lease or by a holdover of the Premises by Tenant, or otherwise, shall be determined deemed a part of, and not in the manner set forth hereinbelow:addition to, any duly exercised extension period permitted by this Section.