Tenants Options. (a) Provided that (1) Tenant is not in default under this Lease beyond any applicable notice and cure period either at the date of exercise or the date when the New Term would otherwise commerce and (2) Tenant or an assignee permitted without the consent of Landlord is the Tenant pursuant to this Lease as of the commencement of the New Term, Tenant shall have the option to (A) expand the Premises by adding an additional 10,000 to 20,000 square feet of Rentable Area in the Center (the "Additional Space") and (B) obtain a new term (the "New Term") of not less than thirty-six (36) months covering both the Premises and the Additional Space. Such option shall be exercised, if at all, by written notice to Landlord given during October, 2000, which notice shall specify, within the limits set forth above, the approximate size of the Additional Space and the length of the New Term. The length of the New Term shall be subject to the mutual agreement of Landlord and Tenant, not to be unreasonably withheld and not to be less than 36 full calendar months. If Tenant is not entitled to exercise such option, or if Tenant is entitled to exercise such option but fails to do so in the manner and during the period herein specified, such option shall lapse and thereafter not be exercisable by Tenant. The lapse of such option shall not affect the option set forth in subsection (b) below. If Tenant is entitled to exercise such option and timely and properly does so, then the following shall pertain:
(i) Such option shall be subject to the availability in the Center, as of the commencement date of the New Term, of an Additional Space of the approximate size specified in Tenant's notice of exercise. For this purpose, the commencement date of the New Term shall be March 1, 2001, and space availability in the Center shall take into account any other pre-existing space rights held by other tenants in the Center.
(ii) Within fifteen (15) days after Landlord's receipt of Tenant's notice of exercise, Landlord shall notify Tenant in writing whether there is, as of the commencement date of the New Term, an available Additional Space in the Center of the approximate size specified by Tenant and, if so, shall identify the available Additional Space and the Rentable Area thereof. For the purposes of this subsection, "approximate" shall mean within 1,000 square feet of the Rentable Area specified by Tenant in its notice of exercise. If there is no such available Additional Space of the approx...
Tenants Options. On the condition, which condition Landlord may waive, at its election, by written notice to Tenant at any time, that Tenant is not in material default of its covenants and obligations under the Leases beyond any applicable notice and cure period, both at the time that Tenant gives an Premises A Extension Exercise Notice, as hereinafter defined, to Landlord, and as of the commencement of the Extension Term in question, Tenant shall have the following options to extend the term of the Leases in respect of Premises A: (x) one (1) additional term (“First Extended Term”) with respect to all of Premises A of three (3) months (the First Additional Term commencing as of December 25, 2006 and expiring as of March 24, 2007), (y) if Tenant timely and properly exercises its option to extend the term of the Lease in respect of Premises A for the First Extended Term, then Tenant shall have the right to extend the term of the Leases in respect of a second additional term (“Second Extended Term”) with respect to all of Premises A of three (3) months (the Second Additional Term commencing as of March 25, 2007 and expiring as of June 24, 2007), and (z) if Tenant timely and properly exercises its option to extend the term of the Lease in respect of Premises A for both the First Extended Term and the Second Extended Term, then Tenant shall have the right to extend the term of the Building 1400 Lease with respect to Suite 501 only for an additional term (“Third Extended Term”) of five (5) years (the Third Extended Term commencing as of June 25, 2007 and expiring as of June 24, 2012. Tenant shall have no right to extend the terms of the Leases in respect of all or a portion of Premises A, except as provided in this Section 2.2(1).
Tenants Options. If the Coffee/Juice Bar, or Tenant’s improvements located therein, are materially destroyed or damaged, by other than an act of Tenant, so as, in Tenant’s commercially reasonable judgment, to materially and adversely impair Tenant’s effective use of the Coffee/Juice Bar, Tenant may elect to terminate this Agreement as of the date of the damage or destruction by notifying Landlord no more than forty-five (45) days following the date of such damage or destruction. If Tenant elects to terminate this Agreement pursuant to this Section, all rights and obligations of the parties that do not survive the termination of this Agreement shall cease as of the date Landlord receives Tenant’s termination notice. If Tenant chooses not to terminate this Agreement, Rent shall be reduced or abated in proportion to the actual reduction or abatement of use of Coffee/Juice Bar for a period until such damage can be repaired by Tenant, not to exceed six (6) months, unless Tenant and Landlord determine in good faith that the Coffee/Juice Bar cannot be rebuilt in a commercially reasonable manner. In the event of damage or destruction to the Fontana Community Senior Center that prevents Tenant from operating Coffee/Juice Bar, Landlord shall xxxxx the rent in its entirety until such a time as the damage can be corrected and the Tenant can return to normal operations, pursuant to the provisions of this Agreement. Landlord reserves the right to audit Tenant’s reduction or abatement request.
Tenants Options. (a) Grant of First Option. Tenant shall have the option to extend the Term of this Lease for an additional five (5) years (the “First Option”), provided that Tenant is not in default under this Lease at the time the First Option is exercised.
Tenants Options. (a) Provided that, at the time of such exercise, this Lease is still in full force and effect without an Event of Default by Tenant and Tenant occupies at least seventy-five percent (75%) of the Rentable Area of the Premises for its own business purposes, Tenant shall have the right and option (the "Third Extension Option") to extend the Term of this Lease for One (1) extended term of Five (5) years ("Third Extended Term"). The Third Extended Term shall commence on the day immediately succeeding the expiration date of the Extended Term, and shall end on the day immediately preceding the third anniversary of the first day of such Extended Term. Tenant shall exercise its Third Extension Option for the Third Extended Term by giving written notice to Landlord of its desire on or before March 31, 2015. The giving of such notice by Tenant shall automatically extend the Term of this Lease and an instrument of renewal will be executed. In the event that Tenant fails to give such notice to Landlord this Lease shall automatically terminate at the end of the Second Extended Term, and Tenant shall have no further option to extend the Term of this Lease. The Third Extended Term shall be on all the terms and conditions of this Lease, except (i) during any Third Extended Term, the extension provisions of this Section to the extent already exercised shall not be effective, (ii) that the Basic Rent in effect for the Third Extended Term shall be based on 95% of then current lease rates for comparable buildings in the market but in no case, lower than the most current rent. Paragraphs 15.1 (b) through (e) shall remain in effect.
Tenants Options. From and after the date hereof, the provisions of Section 48.4 of the Original Lease shall have no further force or effect.
Tenants Options. In no event shall Tenant be entitled to exercise any option under this Lease, including, without limitation, an option to expand or contract the Leased Premises or an option to extend the Term, to the extent expressly provided for herein, in the event that as of the date of the notice of Tenant's exercise of such option or as of the date such option would otherwise take effect, an Event of Default exists.
Tenants Options. In the event that the Premises are damaged for any ---------------- reason whatsoever, other than Tenant's fault or negligence, and Tenant is substantially unable to carry on its normal business operations for a period of thirty (30) days or more, Tenant shall have the right to terminate this Lease by giving written notice of such termination to Landlord no later than forty-five (45) days after the occurrence of such damage. Upon such termination, Tenant's obligations hereunder and each of them, including the obligation to pay rent of any kind or nature, shall cease as of the day the Premises were so damaged. During any period that Tenant is substantially unable to conduct its normal business operations because of such casualty damage, rent of any kind or nature due hereunder shall be abated for such portion of the Premises which Tenant cannot reasonably occupy and use. In the event the Premises are partially damaged by fire or other casualty and Tenant is able to carry on its normal business operations, Tenant shall pay rent for only such portion of the Premises which Tenant may reasonably occupy or use during the time required to make repairs. All repairs necessary to restore the Premises to its original condition shall be commenced within sixty
Tenants Options. Landlord and Tenant hereby acknowledge and agree that Tenant’s Expansion Option and Right of First Offer, as set forth in Sections 19.28 and 19.29 of the Lease, respectively, are hereby ratified and confirmed and shall continue to be and remain in full force and effect in accordance with the Lease.
Tenants Options. On the condition, which condition Landlord may waive, at its election, by written notice to Tenant at any time, that Tenant is not in material default of its covenants and obligations under the Leases beyond any applicable notice and cure period, both at the time that Tenant gives an Premises B Extension Exercise Notice, as hereinafter defined, to Landlord, and as of the commencement of the Extension Term in question, Tenant shall have the following option to extend the term of the Building 1400 Lease in respect of Premises B only: (x) the First Extended Term, as defined in Section 2.2(1) above, (y) if Tenant timely and properly exercises its option to extend the term of the Building 1400 Lease in respect of Premises B for the First Extended Term, then Tenant shall have the right to extend the term of the Building 1400 Lease in respect of Premises B for the Second Extended Term, as defined in Section 2.2(1) above, and (z) if Tenant timely and properly exercises its option to extend the term of the Building 1400 Lease in respect of Premises B for both the First Extended Term and the Second Extended Term, then Tenant shall have the right to extend the term of the Building 1400 Lease with respect to Premises B for the Third Extended Term, as defined in Section 2.2(1) above. Tenant shall have no right to extend the term of the Building 1400 Lease in respect of Premises B, except as provided in this Section 3.2(1).
