Tenant's 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 options (the "Extension Options") to extend the Term of this Lease for One (1) extended term of Three (3) years (an "Extended Term"). The Extended Term shall commence on the day immediately succeeding the expiration date of the Initial Term, and shall end on the day immediately preceding the third anniversary of the first day of such Extended Term. Tenant shall exercise its Extension Option for the Extended Term by giving written notice to Landlord of its desire to do so not later than six (6) months prior to the expiration date of the Initial Term. The giving of such notice by Tenant shall automatically extend the Term of this Lease for the Extended Term, and no instrument of renewal need be executed. In the event that Tenant fails to give such notice to Landlord this Lease shall automatically terminate at the end of the Initial Term, and Tenant shall have no further option to extend the Term of this Lease. The Extended Term shall be on all the terms and conditions of this Lease, except (i) during any 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 Extended Term shall be at the greater of (a) the then current Basic Rent during the last lease Year of the Initial Term and (b) the anticipated fair market rental rate for comparable buildings in the Westborough area for the Premises Rentable Area during the Extended Term (the "Prevailing Fair Market Base Rental Rate") determined as follows. Within twenty (20) days of Tenant's exercise of its Extension Option, Landlord agrees to provide Tenant with Landlord's determination ("Landlord's Determination") of the Fair Market Base Rental Rate. Any determination of the Fair Market Base Rental Rate, whether by Landlord or Tenant, shall include a statement of the elements of rent included in such determination (whether tenant improvement allowances, free rent, common area cost allowances, or otherwise) sufficient to permit a calculation of the effective rent for the Premises.
Tenant's 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:
Tenant's Options. Tenant’s rights as set forth in Sections 26(a) [“Termination Option”], 26(c) [“Renewal Option”], 26(d) [“One-Time Right of First Offer”], and 26(e) [“Right of First Refusal”] remain in full effect; provided, however, that references to the “Premises” in any such provision shall refer collectively to the Existing Premises and the Expansion Premises.
Tenant's 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).
Tenant's 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 Building 1400 Lease beyond any applicable notice and cure period, both at the time that Tenant gives a Premises C Exercise Notice, as hereinafter defined, to Landlord, and as of the commencement of the applicable Premises C Extension Term, as hereinafter defined, Tenant shall have the options (“Premises C Extension Options”) to extend the term of the Building 1400 Lease as follows: (x) in respect of all or a portion of Premises C (“Premises C Extended Term Portion”), as set forth in Section 5.3, for one (1) additional term (“First Premises C Extended Term”) of seven (7) years, commencing as of July 25, 2005 and expiring as of July 24, 2012, and (y) provided that Tenant exercises its right to extend the term of the Building 1400 Lease for the First Premises C Extended Term and Tenant does not exercise its early termination right with respect to the Premises C Extended Term Portion, as set forth in Section 5.5, Tenant shall have the right to extend the term of the Building 1400 Lease with respect to the Premises C Extended Term Portion for one (1) additional term (“Second Premises C Extended Term”) of five years, commencing as of July 25, 2012 and expiring as of July 24, 2017. Tenant shall have no right to extend the term of the Building 1400 Lease in respect of Premises C, except as provided in this Section 5.1(1).
Tenant's 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
Tenant's 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.
Tenant's 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.
Tenant's Options. From and after the date hereof, the provisions of Section 48.4 of the Original Lease shall have no further force or effect.
Tenant's 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.
