Tenant’s Renewal Option. Provided the Lease is in good standing and no default by Tenant exists hereunder and no event has occurred that with the passage of time and/or the giving of notice would result in a default by Tenant hereunder, Landlord hereby gives and grants to Tenant the right, privilege and option of extending this Lease in accordance with the Options to Renew set forth in Section 22 of the Basic Lease Provisions. Tenant shall exercise such options by giving notice to the Landlord of its intention to so renew not less than nine (9) months prior to the then applicable expiration of the Term. Failure to give any such notice shall be deemed a waiver of Tenant’s right to exercise this option and shall conclusively make the remaining option(s) to extend, if any, null and void. All of the terms, covenants and conditions of this Lease shall apply during the extended term(s), except that Basic Rent during the extended term shall be determined as follows: Within thirty (30) days after Landlord’s receipt of Tenant’s written notice exercising the option to extend the term, Landlord shall deliver to Tenant written notice of the Basic Rent for the first year of said extended term, which Basic Rent shall be at then market rates for similar premises in the area of the Building, which shall be supported by reasonable evidence supplied by Landlord, but in no event less than the Basic Rent for the then expiring year. In the event that the Basic Rent for the Renewal Term exceeds the Basic Rent for the then expiring year, then Tenant shall thereafter have fifteen (15) days in which to revoke its notice of renewal, failing which Tenant shall be deemed to have exercised said option to renew at the Basic Rent set forth in Landlord’s notice. So long as the Basic Rent determined by Landlord is supported by reasonable evidence, Tenant shall not have any other remedy should it disagree with said determination. In the event of such renewal, Basic Rent shall thereafter increase annually by three percent (3%) per annum. All renewals and extensions under this Lease shall be deemed to be included in the definition of Term as set forth herein.
Tenant’s Renewal Option. Tenant shall have the right, at its option (referred to herein as the “Renewal Option”), to renew the initial term of this Lease, for the entire Premises, as constituted as of March 31, 2017, for one renewal term of five (5) years (referred to herein as the “Renewal Term”), which shall commence on April 1, 2017 (the “Renewal Term Commencement Date”) and expire on March 31, 2022 (the “Renewal Term Expiration Date”). Except for the Renewal Option, Tenant shall have no other right to extend or renew the Term of the Lease, Tenant shall have no right to exercise the Renewal Option unless no Event of Default exists as of the date of both the Renewal Notice (as defined below) and the Renewal Term Commencement Date. The Renewal Option is personal to Tenant or its permitted (pursuant to Section 14.9 above) or approved (by Landlord) assignee and shall be deemed revoked and of no force and effect if the named Tenant hereunder or its permitted (pursuant to Section 14.9 above) or approved (by Landlord) assignee is not in the aggregate physically occupying at least seventy-five percent (75%) of the Premises. Furthermore Tenant may not assign and/or transfer any of its rights under this Article 32.
Tenant’s Renewal Option. Landlord and Tenant hereby agree that Paragraph 61 of the Original Lease (entitled "Option to Extend Lease Term") shall continue to apply to this Lease. i.e., there is one remaining 5-year renewal option available to Tenant pursuant to such Paragraph 61.
Tenant’s Renewal Option. Tenant is hereby granted two (2) options to extend the Term of this Lease for two (2) consecutive additional periods of five years each (the "First Renewal Term" and the "Second Renewal Term" each a "Renewal Term" and, if exercised by Tenant, included in the "Term" of this Lease). Tenant shall exercise the aforesaid options to extend the Term for the First Renewal Term or the Second Renewal Term, in each instance, by giving Landlord written notice at least nine (9) months prior to the Expiration Date, or the last day of the First Renewal Term, as applicable. The First Renewal Term shall begin on the day immediately following the Expiration Date, and the Second Renewal Term shall begin on the day immediately following the last day of the First Renewal Term. Each Renewal Term shall be on the same terms and conditions as specified for the initial Term of this Lease, except that (i) the Base Rent during each Renewal Term shall continue to increase at the rate of 2% each Lease Year during each Renewal Term and (ii) Landlord shall have no obligation to improve or otherwise perform any work in the Premises. In the event that Tenant shall fail to timely exercise its option with regard to the Renewal Terms, Tenant's rights hereunder with regard to both the Renewal Terms shall immediately and irrevocably terminate.
Tenant’s Renewal Option. Provided no event of default has occurred by Tenant under this Lease beyond the expiration of all applicable grace and/or cure periods expressly provided for herein, Tenant shall have the option (the “Renewal Option”) to renew the Term of this Lease for an additional two (2) year period (the “Renewal Period”). If Tenant desires to exercise the Renewal Option, Tenant must deliver written notice (the “Renewal Notice”) to Landlord in accordance with Article 17 of this Lease no less than six (6) months prior to the Expiration Date, otherwise, the Renewal Option will lapse and be deemed forever waived by Tenant. The same terms and conditions as contained in this Lease will apply during the Renewal Period, except the Base Rent will be as set forth below. Any attempt by Tenant to exercise the Renewal Option by any method, at any time or in any circumstances other than as specifically set forth herein will be null and void and of no force or effect at the sole option and discretion of Landlord. The Renewal Option is reserved to Tenant and Affiliates and will not inure to the benefit of any assignees, sublessees, transferees, successors and/or assigns of Tenant. During the Renewal Period, the Base Rent shall be as follows: Renewal Year Annual Base Rent Monthly Base Rent 1 $ 321,904.00 $ 26,825.33 2 $ 321,904.00 $ 26,825.33
Tenant’s Renewal Option. Tenant shall have the right, at its option (referred to herein as the “Renewal Option”), to renew the initial term of this Lease, for the entire Premises as then constituted, for one renewal term of five (5) years (referred to herein as the “Renewal Term”), which shall commence on January 1, 2016 (the “Renewal Term Commencement Date”) and expire on December 31, 2020 (the “Renewal Term Expiration Date”). Except for the Renewal Option, Tenant shall have no other right to extend or renew the Term of the Lease. Tenant shall have no right to exercise the Renewal Option unless all of the following conditions have been satisfied on the date of the Renewal Notice (as hereinafter defined) and on the Renewal Term Commencement Date:
Tenant’s Renewal Option. Tenant shall have the option, to ----------------------- be exercised as hereinafter provided, to extend the term of this Lease Agreement for succeeding periods of one year (each, an "Extended Term") upon the following terms and conditions:
Tenant’s Renewal Option. Effective as of the Extension Commencement Date, Paragraph 35 of the Original Lease shall be deleted in its entirety and replaced with the following:
Tenant’s Renewal Option. (a) Landlord hereby grants to Tenant the conditional right, exercisable at Tenant's option, to renew the term of this Lease for one (1) term (Renewal Term) of three (3) consecutive years. If exercised, and if the conditions applicable thereto have been satisfied, the Renewal Term shall commence on the day immediately following the Lease Expiration date as provided in this Lease. The right of renewal herein granted to Tenant with respect to the Renewal Term shall be subject to, and shall be exercised in accordance with, the following terms and conditions:
Tenant’s Renewal Option. A. Tenant, provided it is not in default and has not sublet the Premises or assigned this Lease, shall have the right to extend the Lease Term for one additional period of five (5) years commencing on the day following the Termination Date and ending on the fifth (5th) anniversary of the Termination Date (the "Renewal Term"). Such Renewal Option shall be exercised by providing written notice ("Initial Renewal Notice") to Landlord on or after the date fifteen (15) months prior to the Termination Date and on or before the date twelve (12) months prior to the Termination Date.
