Common use of Term; Renewal Option Clause in Contracts

Term; Renewal Option. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date. Provided Tenant is not in default of its obligation under this Lease after the expiration of any applicable notice and cure period, Tenant shall have the right to extend the Term of this Lease (each an “Option”) for the number of separate, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i), on the terms and conditions set forth herein, except that the number of Option Periods remaining to be exercised shall, in each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty (60) days prior to the expiration of the Term, or the then current Renewal Period, as the case may be. If Tenant neglects to timely exercise any Option, Tenant’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 shall have the right at any time within fifteen (15) days 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.

Term; Renewal Option. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date. Provided The Commencement Date shall constitute the commencement of the term of this Lease for all purposes, whether or not Tenant is has actually taken possession. If for any reason the Premises are not ready for occupancy by the Commencement Date, Landlord shall not be liable for any claims or damages by reason thereof, but in such event the expiration date of the Lease shall be extended by the number of days between the actual Commencement Date and the Commencement Date contemplated by this Lease. If Tenant occupies the Premises prior to the Commencement Date, including for the purpose of performing improvements pursuant to the Leasehold Improvements Rider attached hereto, Tenant shall comply with all of Tenant’s obligations in this Lease during the early occupancy period (including without limitation the provisions requiring Tenant to obtain insurance and to indemnify and exculpate Landlord) and Tenant’s occupancy of the Premises shall be subject to all of the provisions of this Lease, except for the payment of Base Rent which shall commence as set forth in Section 2.3. Early occupancy of the Premises shall not advance the expiration date of this Lease. Within ten (10) days of the Commencement Date, Tenant shall confirm the Commencement Date and other terms of this Lease by executing and delivering to Landlord the Commencement Date Agreement substantially in the form set forth on Exhibit “C” attached hereto. So long as there exists no uncured default of its obligation under this Lease after and not more than one monetary default occurred during the expiration of any applicable notice and cure periodTerm, then Tenant shall have the right to extend the Term of renew this Lease (each an “Option”) for the number of separate, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i), on the terms and conditions set forth herein, except that the number of Option Periods remaining to be exercised shall, in each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty (60) days prior to the expiration of the Term, or the then current Renewal Period, as the case may be. If Tenant neglects to timely exercise any Option, Tenant’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 shall have the right at any time within fifteen (15) days 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, as more fully set forth on the Renewal Option Rider attached hereto.

Term; Renewal Option. The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date. Provided The Commencement Date shall constitute the commencement of the term of this Lease for all purposes, whether or not Tenant is has actually taken possession. If for any reason the Premises are not ready for occupancy by the Commencement Date, Landlord shall not be liable for any claims or damages by reason thereof, but in such event the expiration date of the Lease shall be extended by the number of days between the anticipated Commencement Date and the actual Commencement Date. If Tenant occupies the Premises prior to the Commencement Date, Tenant shall pay Base Rent and all additional rent and shall comply with all of Tenant’s obligations in this Lease during the early occupancy period (including without limitation the provisions requiring Tenant to obtain insurance and to indemnify and exculpate Landlord) and Tenant’s occupancy of the Premises shall be subject to all of the provisions of this Lease. Early occupancy of the Premises shall not advance the expiration date of this Lease. Within ten (10) days of the Commencement Date, Tenant shall confirm the Commencement Date and other terms of this Lease by executing and delivering to Landlord the Commencement Date Agreement substantially in the form set forth on Exhibit “D” attached hereto. So long as there exists no uncured default of its obligation under this Lease after and not more than two monetary defaults occurred during the expiration of any applicable notice and cure periodTerm, then Tenant shall have the right to extend the Term of renew this Lease (each an “Option”) for the number of separate, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i), on the terms and conditions set forth herein, except that the number of Option Periods remaining to be exercised shall, in each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty (60) days prior to the expiration of the Term, or the then current Renewal Period, as the case may be. If Tenant neglects to timely exercise any Option, Tenant’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 shall have the right at any time within fifteen (15) days 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, as more fully set forth on the Renewal Option Rider attached hereto.

Term; Renewal Option. The Subject to the provisions hereof, Tenant shall have and hold the Leased Property for a term which shall begin as of the date hereof and end on March 31, 2023 (the “Term of this Lease”). Except as otherwise expressly noted, the Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Datealso include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. Provided that no 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 the right, upon notice delivered to Landlord not in default of its obligation under this Lease after fewer than twelve (12) months nor more than fifteen (15) months prior to the expiration of the then current term hereof, to renew this Lease for up to four (4) renewal terms of five (5) years each (each, a “Renewal Term” and collectively, the “Renewal Terms”). 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 notice cure period and cure periodthat Tenant shall be in possession of the Leased Property both at the time of exercise and at the inception of the next ensuing Renewal Term. Tenant shall not have the right to exercise its option to renew this Lease 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 extend exercise up to two (2) consecutive Renewal Terms with a single notice. All of the Term 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 this Lease (each an “Option”) for the number of separateits option to renew as contained herein; provided, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i)however, on the terms and conditions set forth herein, except that the number of Option Periods remaining to Basic Rent shall be exercised shalldetermined as provided in Article 4, in each case, be reduced by oneparagraph (g) below. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty (60) days prior to the expiration of the Term, or the then current Renewal Period, as the case may be. If Tenant neglects to timely exercise any Option, Tenant’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 shall have the right at any time within fifteen (15) days 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.PID #_______________

Term; Renewal Option. The Subject to the provisions hereof, Tenant shall have and hold the Leased Property for a term which shall begin as of the date hereof and end on March 31, 2023 (the “Term of this Lease”). Except as otherwise expressly noted, the Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Datealso include any Renewal Term(s) properly exercised by Tenant as hereinafter provided. Provided that no 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 the right, upon notice delivered to Landlord not in default of its obligation under this Lease after fewer than twelve (12) months nor more than fifteen (15) months prior to the expiration of the then current term hereof, to renew this Lease for up to four (4) renewal terms of five (5) years each (each, a “Renewal Term” and collectively, the “Renewal Terms”). 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 notice cure period and cure periodthat Tenant shall be in possession of the Leased Property both at the time of exercise and at the inception of the next ensuing Renewal Term. Tenant shall not have the right to exercise its option to renew this Lease 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 extend exercise up to two (2) consecutive Renewal Terms with a single notice. All of the Term 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 this Lease (each an “Option”) for the number of separateits option to renew as contained herein; provided, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i)however, on the terms and conditions set forth herein, except that the number of Option Periods remaining to Basic Rent shall be exercised shalldetermined as provided in Article 4, in each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty paragraph (60g) days prior to the expiration of the Term, or the then current Renewal Period, as the case may be. If Tenant neglects to timely exercise any Option, Tenant’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 shall have the right at any time within fifteen (15) days 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 anybelow.

Term; Renewal Option. The Subject to and upon the conditions set forth in the Lease, as amended by this Amendment, the Term of this Lease shall commence on be extended from the Commencement Effective Date and shall to end on September 30, 2000. Tenant shall not have the Expiration DateRenewal Option for three (3) years as set 37 forth in the Lease, which is hereby deleted in its entirety. Provided However. as long as Tenant is not in default of its obligation under this Lease after the expiration of any applicable notice and cure periodLease, Tenant shall have is granted the right option to extend renew the Term as to the entire Premises for one successive period (the "Renewal Term") of this Lease (each an “Option”) for the number of separate, consecutive additional periods (“Renewal Periods”) which are specified in Section 1(i), on the terms and conditions set forth herein, except that the number of Option Periods remaining to be exercised shall, in each case, be reduced by one. If Tenant elects to exercise an Option, Tenant shall notify Landlord in writing at least sixty (60) days prior months to commence as of October 1, 2000. Tenant shall exercise its option to renew by delivering written notice thereof to Landlord on or before March 31, 2000. Tenant's failure to exercise timely the renewal option for any 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 (a) the Rent during the Renewal Term shall be based on the Fair Market Rental Rate (as hereinafter defined) for the Premises as of the commencement of the Renewal Term, (b) Tenant shall have no option to renew this Lease beyond the expiration of the Renewal Term, or and (c) the leasehold improvements in the Premises will be provided to Tenant in their then current existing "AS-IS, WHERE-IS" and "WITH ALL FAULTS" condition at the time the Renewal PeriodTerm commences, as the case may beexcepting only latent defects. If Tenant neglects to timely exercise any OptionIn addition, Tenant’s 's renewal option set forth in this paragraph shall be subject and subordinate to the preexisting renewal, expansion, right of refusal and similar options with respect 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 shall have the right at any time within fifteen (15) days 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 anyPremises held by Comerica Bank.