Common use of Term; Renewal Option Clause in Contracts

Term; Renewal Option. (a) Subject to the provisions hereof, Tenant shall have and hold the Leased Property for an initial term (“Initial Term”) which shall begin on the Commencement Date and shall end on the last day of the month in which the twentieth (20th) anniversary of the Commencement Date occurs. Except as otherwise expressly noted, the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. (b) Provided that no Event of Default shall have occurred and be continuing and subject to the conditions hereinafter set forth, Tenant is hereby granted options (individually, a “Renewal Option” and, collectively, the “Renewal Options”) to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenant, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up to thirty (30) years in consecutive periods of not less than five (5) years (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively the “Renewal Terms”); provided that the Term of this Lease shall not extend for more than fifty (50) years, beginning on the Commencement Date of this Lease. Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one (1) Renewal Term at a time. All of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph (e) of Article 4 below. (c) The first Renewal Term shall commence at the expiration of the Initial Term, and each subsequent Renewal Term shall commence at the expiration of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months prior to the expiration of the Initial Term or the expiration of the then current Renewal Term, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTION, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTION, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICE.

Term; Renewal Option. (a) Subject to The term of this Lease (the provisions hereof, Tenant shall have and hold the Leased Property for an initial term (“Initial "Term”") which shall begin on the date that this Lease is fully executed (the "Commencement Date Date") and shall end on October 31, 2012 (the last day of "Expiration Date"), unless: (i) sooner terminated in accordance with the month terms and conditions contained in which this Lease; or (ii) extended pursuant to the twentieth (20th) anniversary of the Commencement Date occurs. Except as otherwise expressly noted, the Term provisions of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter providedLease. (b) Provided that no Event of Default shall have occurred and be continuing and subject to the conditions hereinafter set forth, Tenant is hereby granted options one (individually, a “Renewal Option” and, collectively, the “Renewal Options”1) option to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at upon the following terms and conditions: (i) At the time of notice the exercise of the option to renew and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenantthe said renewal, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up to thirty (30) years in consecutive periods of not less than five (5) years (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively the “Renewal Terms”); provided that the Term of this Lease there shall not extend have occurred an Event of Default (as defined below) which remains uncured under this Lease, Tenant shall have committed no act or omission which with the passage of time could result in an Event of Default and Tenant shall be in possession of the Premises pursuant to this Lease. (ii) Notice of the exercise of the option shall be sent to the Landlord in writing at least six (6) months before the Expiration Date. (iii) The renewal term shall be for more than fifty a period of three (503) years, beginning on the Commencement Date of this Lease. Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one (1) Renewal Term at a time. All of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph (e) of Article 4 below. (c) The first Renewal Term shall commence at the expiration of the Initial Term, and each subsequent Renewal Term all of the terms and conditions of this Lease, other than the Base Rent, shall commence apply during any such renewal term. (iv) The annual Base Rent to be paid during the renewal term shall not be less than that paid for the Premises during the last year of the original Term. However, if the fair rental value per square foot at the expiration commencement of the prior Renewal Term. renewal term shall exceed the rent as established in the preceding sentence, the Tenant shall exercise its options to renewpay such fair rental value. In determining the fair rental value, if the Landlord shall notify Tenant of the fair rental value as established by Landlord. Should Tenant dispute Landlord's determination, then the Tenant shall be free to, at allthe Tenant's sole cost and expense, by delivering notice employ the services of such election to Landlord not later than twelve (12) months prior an appraiser familiar with buildings located within the area comparable to the expiration Building, who shall be a member of MAI and who shall render an appraisal. If the Landlord and the Tenant's appraiser cannot agree on the fair rental value, Landlord shall employ the services of an appraiser familiar with buildings located within the area comparable to the Building who shall be a member of MAI and who shall render an appraisal. If the two appraisers cannot agree on the fair rental value, or in such case, on an independent appraiser acceptable to both, either Landlord or Tenant may request the American Arbitration Association to appoint such independent appraiser who shall be a member of MAI familiar with buildings in the area of the Initial Term or Building who shall render an appraisal, and in such event the expiration judgment of a majority of the then current Renewal Termthree appraisers shall be final and binding upon the parties. The parties shall share equally in the cost of any such independent appraiser. Pending resolution of the issue of fair rental value, the Tenant shall pay the Landlord as of commencement of the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTIONrenewal term, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTIONthe Base Rent as established by Landlord, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICEsubject to retroactive adjustment upon final determination of this issue.

Term; Renewal Option. (a) Subject to and upon the provisions hereofconditions set forth in the Lease, Tenant shall have and hold the Leased Property for an initial term (“Initial Term”) which shall begin on the Commencement Date and shall end on the last day of the month in which the twentieth (20th) anniversary of the Commencement Date occurs. Except as otherwise expressly notedamended by this Amendment, the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. (b) Provided that no Event of Default shall have occurred and be continuing and subject extended from the Effective Date to the conditions hereinafter set forthend on September 30, Tenant is hereby granted options (individually, a “Renewal Option” and, collectively, the “Renewal Options”) to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenant, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up to thirty (30) years in consecutive periods of not less than five (5) years (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively the “Renewal Terms”); provided that the Term of this Lease shall not extend for more than fifty (50) years, beginning on the Commencement Date of this Lease2000. Tenant shall not have the right Renewal Option for three (3) years as set 37 forth in the Lease, which is hereby deleted in its entirety. However. as long as Tenant is not in default under the Lease, Tenant is granted the option to renew the Term as to the entire Premises for one successive period (the "Renewal Term") of sixty (60) months to commence as of October 1, 2000. Tenant shall exercise its option to renew this Lease by delivering written notice thereof to Landlord on or before March 31, 2000. Tenant's failure to exercise timely the renewal option for any one or more Renewal Properties for more than one reason whatsoever shall conclusively be deemed a waiver of such renewal option. Any such renewal of the Lease shall be upon the same terms and conditions of the Lease, except (1a) the Rent during the Renewal Term at a time. All shall be based on the Fair Market Rental Rate (as hereinafter defined) for the Premises as of the termscommencement of the Renewal Term, conditions, covenants and agreements contained herein (b) Tenant shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its have no option to renew as contained herein; provided that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph (e) of Article 4 below. (c) The first Renewal Term shall commence at this Lease beyond the expiration of the Initial Renewal Term, and each subsequent (c) the leasehold improvements in the Premises will be provided to Tenant in their then existing "AS-IS, WHERE-IS" and "WITH ALL FAULTS" condition at the time the Renewal Term commences, excepting only latent defects. In addition, Tenant's renewal option set forth in this paragraph shall commence at the expiration of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months prior be subject and subordinate to the expiration preexisting renewal, expansion, right of refusal and similar options with respect to the Initial Term or the expiration of the then current Renewal Term, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTION, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTION, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICEPremises held by Comerica Bank.

Term; Renewal Option. (a) Subject to the provisions hereof, Tenant shall have and hold the Leased Property for an initial a term (“Initial Term”) which shall begin on as of the Commencement Date date hereof and shall end on March 31, 2023 (the last day “Term of the month in which the twentieth (20th) anniversary of the Commencement Date occursthis Lease”). Except as otherwise expressly noted, the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. (b) . Provided that no Event of Default default has occurred and is continuing hereunder beyond any applicable cure period, and provided that Tenant is operating its business at the Leased Property, Tenant shall have occurred and be continuing and subject the right, upon notice delivered to Landlord not fewer than twelve (12) months nor more than fifteen (15) months prior to the conditions hereinafter set forthexpiration of the then current term hereof, Tenant is hereby granted options (individually, a “Renewal Option” and, collectively, the “Renewal Options”) to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenant, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up to thirty four (304) years in consecutive periods renewal terms of not less than five (5) years each (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively collectively, the “Renewal Terms”); provided . It shall be a condition of the effectiveness of any such exercise by Tenant that no default shall have occurred and be continuing hereunder beyond any applicable cure period and that Tenant shall be in possession of the Term Leased Property both at the time of this Lease shall not extend for more than fifty (50) years, beginning on exercise and at the Commencement Date inception of this Leasethe next ensuing Renewal Term. Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one (1) Renewal Term at a time; provided, however, that at any time that two (2) or more Renewal Terms shall remain unexercised, then subject to the aforesaid conditions, Tenant shall have the right to exercise up to two (2) consecutive Renewal Terms with a single notice. All of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided provided, however, that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph Article 4, paragraph (eg) of Article 4 below. (c) The first Renewal Term shall commence at the expiration of the Initial Term, and each subsequent Renewal Term shall commence at the expiration of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months prior to the expiration of the Initial Term or the expiration of the then current Renewal Term, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTION, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTION, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICE.

Term; Renewal Option. (a) Subject to The Termination Date for the provisions hereof, Tenant shall have and hold the Leased Property for an initial term of the Lease (“i) in the case of the Initial Term”) which Premises, shall begin on the Commencement Date remain unchanged and shall end on continue to be April 30, 2010 (subject to Tenant’s existing renewal option as described below), and (ii) in the last day case of the month in Second Expansion Premises, shall be April 30, 2012 (which would be concurrent with the twentieth (20th) anniversary of extended term for the Commencement Date occurs. Except as otherwise expressly noted, Initial Premises if Tenant duly exercises such existing renewal option for the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter providedInitial Premises). (b) Provided that no Event Tenant shall continue to have the option set forth in Section 2.6 of Default shall have occurred and be continuing and subject the Initial Lease to extend the initial term of the Lease with respect to the conditions hereinafter Initial Premises, at the minimum rental set forthforth in the applicable portions of Schedule 1 attached hereto and incorporated herein by this reference (which minimum rental terms are identical to those set forth in Part II of Schedule 1 attached to the First Amendment) and otherwise upon all the terms and provisions applicable to the initial term of the Lease, Tenant is hereby granted options for one (individually1) additional period of two (2) years, a “Renewal Option” and, collectively, commencing upon the “Renewal Options”) to renew expiration of the initial Term of this the Lease for one with respect to the Initial Premises. The renewal option set forth in such Section 2.6 of the Initial Lease may be exercised by Tenant or more Leased Properties which remain subject to this by any permitted assignee of Tenant’s interest under the Lease that is in possession of the Initial Premises at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is such exercise, but may not be exercised by Tenant, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up or assigned to thirty (30) years in consecutive periods of not less than five (5) years (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively the “Renewal Terms”); provided that the Term of this Lease shall not extend for more than fifty (50) years, beginning on the Commencement Date of this Lease. Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one (1) Renewal Term at a time. All subtenant of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to Initial Premises or any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph (e) of Article 4 belowportion thereof. (c) The first Renewal Term Tenant shall commence also have a separate option, exercisable in the same manner and under the same conditions set forth in Section 2.6 of the Initial Lease, to extend the initial term of the Lease with respect to the Second Expansion Premises, at the minimum rental set forth in the applicable portions of Schedule 1 attached hereto and incorporated herein by this reference and otherwise upon all the terms and provisions applicable to the initial term of the Lease, for one (1) additional period of two (2) years, commencing upon the expiration of the Initial Term, and each subsequent Renewal initial Term shall commence of the Lease with respect to the Second Expansion Premises. The renewal option described in this paragraph (c) may be exercised by Tenant or by any permitted assignee of Tenant’s interest under the Lease that is in possession of the Second Expansion Premises at the expiration time of such exercise, but may not be exercised by or assigned to any subtenant of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months prior to the expiration of the Initial Term Second Expansion Premises or the expiration of the then current Renewal Term, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTION, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTION, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICEany portion thereof.

Term; Renewal Option. (a) Subject to the provisions hereof, Tenant shall have and hold the Leased Property for an initial a term (“Initial Term”) which shall begin on as of the Commencement Date date hereof and shall end on March 31, 2023 (the last day “Term of the month in which the twentieth (20th) anniversary of the Commencement Date occursthis Lease”). Except as otherwise expressly noted, the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. (b) . Provided that no Event of Default default has occurred and is continuing hereunder beyond any applicable cure period, and provided that Tenant is operating its business at the Leased Property, Tenant shall have occurred and be continuing and subject the right, upon notice delivered to Landlord not fewer than twelve (12) months nor more than fifteen (15) months prior to the conditions hereinafter set forthexpiration of the then current term hereof, Tenant is hereby granted options (individually, a “Renewal Option” and, collectively, the “Renewal Options”) to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenant, a “Renewal Property”; and if more than one, the “Renewal Properties”) for up to thirty four (304) years in consecutive periods renewal terms of not less than five (5) years each (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” and collectively collectively, the “Renewal Terms”); provided . It shall be a condition of the effectiveness of any such exercise by Tenant that no default shall have occurred and be continuing hereunder beyond any applicable cure period and that Tenant shall be in possession of the Term Leased Property both at the time of this Lease shall not extend for more than fifty (50) years, beginning on exercise and at the Commencement Date inception of this Leasethe next ensuing Renewal Term. Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one (1) Renewal Term at a time; provided, however, that at any time that two (2) or more Renewal Terms shall remain unexercised, then subject to the aforesaid conditions, Tenant shall have the right to exercise up to two (2) consecutive Renewal Terms with a single notice. All of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided provided, however, that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph Article 4, paragraph (eg) of Article 4 below. (c) The first Renewal Term shall commence at the expiration of the Initial Term, and each subsequent Renewal Term shall commence at the expiration of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months prior to the expiration of the Initial Term or the expiration of the then current Renewal Term, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTION, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTION, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN (10) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICE.PID #_______________

Term; Renewal Option. (a) Subject to the provisions hereof, Tenant The Term of this Lease shall have and hold the Leased Property for an initial term (“Initial Term”) which shall begin commence on the Commencement Date and shall end on the last day Expiration Date. Provided Tenant is not in default of its obligation under this Lease after the month in which expiration of any applicable notice and cure period, Tenant shall have the twentieth (20th) anniversary of the Commencement Date occurs. Except as otherwise expressly noted, right to extend the Term of this Lease shall also include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. (b) Provided that no Event of Default shall have occurred and be continuing and subject to the conditions hereinafter set forth, Tenant is hereby granted options (individually, a “Renewal Option” and, collectively, the “Renewal Options”) to renew the Term of this Lease for one or more Leased Properties which remain subject to this Lease at the time of notice and at the time of renewal (each Leased Property for which a Renewal Option is exercised by Tenant, a an “Renewal Property”; and if more than one, the “Renewal PropertiesOption”) for up to thirty the number of separate, consecutive additional periods (30) years in consecutive periods of not less than five (5) years (nor more than ten (10) years) each, as determined by Tenant in its sole discretion (individually, a “Renewal Term” Periods”) which are specified in Section 1(i), on the terms and collectively the “Renewal Terms”); provided conditions set forth herein, except that the Term number of this Lease shall not extend for more than fifty (50) yearsOption Periods remaining to be exercised shall, beginning on the Commencement Date of this Leasein each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall not have the right to exercise its option to renew this Lease for any one or more Renewal Properties for more than one notify Landlord in writing at least sixty (160) Renewal Term at a time. All of the terms, conditions, covenants and agreements contained herein shall continue with equal force and effect with respect to any Renewal Terms created by the proper exercise by Tenant of its option to renew as contained herein; provided that the Basic Rent for each Renewal Property shall be determined as provided in Paragraph (e) of Article 4 below. (c) The first Renewal Term shall commence at the expiration of the Initial Term, and each subsequent Renewal Term shall commence at the expiration of the prior Renewal Term. Tenant shall exercise its options to renew, if at all, by delivering notice of such election to Landlord not later than twelve (12) months days prior to the expiration of the Initial Term Term, or the expiration of the then current Renewal TermPeriod, as the case may be. IN ORDER TO PREVENT TENANT’S INADVERTENT FORFEITURE OF ANY THEN REMAINING RENEWAL OPTIONIf Tenant neglects to timely exercise any Option, IF TENANT SHALL FAIL TO TIMELY EXERCISE ANY AVAILABLE RENEWAL OPTIONTenant’s right to exercise shall not expire or lapse unless Tenant fails to exercise such Option within fifteen (15) days after notice from Landlord of Tenant’s failure to timely exercise the Option. If Landlord does so notify Tenant, TENANT’S RIGHT TO EXERCISE SUCH RENEWAL OPTION SHALL NOT LAPSE UNTIL LANDLORD SHALL DELIVER TO TENANT WRITTEN NOTICE THAT SUCH NOTICE OF EXERCISE HAS NOT BEEN DELIVERED AND TENANT SHALL THEREAFTER FAIL TO EXERCISE SUCH RENEWAL OPTION WITHIN TEN Tenant shall have the right at any time within fifteen (1015) DAYS FOLLOWING THE DELIVERY OF SUCH NOTICEdays after such notice to notify Landlord in writing of either Tenant’s exercise of its Option, or Tenant’s waiver of its Option. If Tenant fails to respond within such fifteen (15) day period, Tenant shall conclusively be deemed to have waived its Option and this Lease shall terminate on the then expiration date of the Term or the expiration of then applicable Renewal Period, if any.