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

Tenant’s Option to Extend. Tenant shall have the right to extend the Term of this Lease in accordance with the Extension Option as provided for in Article 1, provided that Tenant is not in default of any provision of this Lease (beyond any applicable notice and cure period) at the time of its exercise of the Option or upon the commencement of the Extension Term. Tenant may exercise the Extension Option by delivering to Landlord written notice of Tenant’s intention to exercise the Extension Option (the “Notice of Intent”) no later than ninety (90) days and no earlier than one hundred eighty (180) days prior to the expiration of the initial Term of this Lease, time being of the essence. If proper notification of the exercise of the Extension Option is not given and/or received, the Extension Option shall automatically expire. The Extension Term shall be upon all of the terms and conditions contained in this Lease. The Extension Option is personal to the original Tenant and cannot be assigned or exercised by anyone other than said original Tenant and only while the original Tenant is in full possession of the Premises and without the intention of thereafter assigning or subletting; provided, however, notwithstanding the foregoing, the Extension Option shall be assignable to any person or entity to whom Tenant sells all or substantially all of its assets or stock or with whom Tenant merges.

Tenant’s Option to Extend. The Tenant shall have the right option (the “Extension Option”) to extend the Term of this Lease specified in accordance with Section 3 hereof (herein referred to as the Extension Option “Original Term”) for one (1) additional period of two (2) years (hereinafter referred to as provided for in Article 1, provided that Tenant is not in default of any provision of this Lease (beyond any applicable notice and cure period) at the time of its exercise of the Option or upon the commencement of the Extension “Extended Term”). Such option to extend may be exercised as hereinafter provided. The Tenant may exercise the aforesaid Extension Option by delivering to Landlord giving written notice to the Landlord of Tenant’s intention election to exercise extend the Extension Option Original Term of this Lease, provided that such written notice shall be given not less than nine (the “Notice of Intent”9) no later than ninety (90) days and no earlier than one hundred eighty (180) days months prior to the expiration of the initial Original Term. Upon exercise of said Extension Option as aforesaid, the Term of this Lease shall be automatically extended by the aforesaid two (2) year period without the requirement of any further instrument, upon the same terms and conditions set forth in this Lease, time being of and Landlord shall not be obligated to provide any so called “free rent” or tenant improvement allowance or other tenant inducements, and Base Rent for the essenceExtended term shall be determined as provided in Section 36(a) below. If proper notification of In the exercise of event that the Extension Option is not given and/or receivedduly exercised, the Extension Option shall automatically expire. The Extension Term shall be upon all of the terms and conditions references contained in this Lease. The Extension Option is personal Lease to the original Tenant and cannot be assigned Term hereof, whether by number of years of number or exercised by anyone other than said original Tenant and only while the original Tenant is in full possession of the Premises and without the intention of thereafter assigning or subletting; providedmonths, however, notwithstanding the foregoing, the Extension Option shall be assignable construed to any person refer to the Original Term hereof extended as aforesaid, whether or entity to whom Tenant sells all or substantially all of its assets or stock or with whom Tenant mergesnot specific reference thereto is made in this Lease.