Xxxxx and Exercise of Option. In the event Landlord elects to sell the Building either separately or as part of a larger sale including other building(s) within the Project ("Offered Property"), Landlord (referred to hereinafter in this Section 20 as "Seller") hereby grants Tenant a right of first offering to purchase. Prior to Seller committing to sell its interest in the Offered Property to a third party, Seller shall give Tenant written notice of such desire and the terms and other information under which Seller intends to sell the Offered Property. Provided at the time of such written notice: (i) Tenant leases at least two buildings within the Project; and (ii) Tenant is not in default under the Lease beyond the expiration of any applicable cure period, Tenant shall have the option, which must be exercised, if at all, by written notice to Seller within fifteen (15) days after Tenant's receipt of Seller's notice, to purchase Seller's interest in the Offered Property at the sales price and terms of sale specified in the notice. In the event Tenant timely exercises such option to purchase its interest in the Offered Property, Seller shall sell its interest in the Offered Property to Tenant, and Tenant shall purchase its interest in the Offered Property from Seller in accordance with the price and terms specified in Seller's notice. Seller and Tenant shall, in good faith, attempt to reach agreement on the terms of a mutually acceptable purchase agreement consistent with the terms set forth in Seller's notice within thirty (30) days of Tenant's exercise of its option to purchase. In the event either: (i) Tenant fails to exercise Tenant's option within said 15-day period; or (ii) after Tenant's exercise, Seller and Tenant are unable to reach agreement on a mutually acceptable purchase agreement within the subsequent 30-day period; Seller shall have one hundred eighty (180) days thereafter to sell its interest in the Offered Property at no less than ninety percent (90%) of the sales price and upon substantially the same other terms of sale as specified in the notice to Tenant. In the event Seller fails to sell its interest in the Offered Property within said one hundred eighty (180) day period or in the event Seller proposes to sell its interest in the Offered Property at less than ninety percent (90%) of the sales price or on other material terms which are more favorable to the prospective buyer than that proposed to Tenant, Seller shall be required to resubmit such offer to Tenant in ac...
Xxxxx and Exercise of Option. Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this paragraph, two (2) options (the "Options") to extend the Lease Term for an additional term (the "Option Term"), each Option Term shall be for a period of sixty (60) months. Each such Option shall be exercised, if at all, by written notice to Landlord no earlier than the date that is thirty (36) months prior to the Expiration Date but no later than the date that is thirty (30) months prior to the Expiration Date. If Tenant exercises the Option, each of the terms, covenants and conditions of this Lease except this paragraph shall apply during the Option Term as though the expiration date of the Option Term was the date originally set forth herein as the Expiration Date, provided that the Base Monthly Rent to be paid by Tenant during the Option Term shall be the greater of (i) the Base Monthly Rent applicable to the period immediately prior to the commencement of the Option Term, or (ii) ninety five percent (95%) of the Fair Market Rental, as hereinafter defined, for the Premises for the Option Term. Anything contained herein to the contrary notwithstanding, if Tenant is in monetary or material non-monetary default under any of the terms, covenants or conditions of this Lease (after expiration of the applicable cure period) either at the time Tenant exercises the Option or at any time thereafter prior to the commencement date of the Option Term, Landlord shall have, in addition to
Xxxxx and Exercise of Option. In the event either or both Master Landlord and Landlord elect to sell their respective interests in the Building, Master Landlord and Landlord hereby grants Tenant a right of first offering to purchase their respective interests in the Building (Master Landlord and Landlord are individually and collectively referred to in this Section as “Seller”). Prior to Seller offering to sell its interest in the Building to a third party, Seller shall give Tenant written notice of such desire and the terms and other information under which Seller intends to sell the Building. Provided at the time of exercise, Tenant is not in default beyond the expiration of any applicable cure period, Tenant shall have the option, which must be exercised, if at all, by written notice to Seller within thirty (30) days after Tenant’s receipt of Seller’s notice, to purchase its interest in the Building at the sales price and terms of sale specified in the notice. In the event Tenant timely exercises such option to purchase its interest in the Building, Seller shall sell its interest in the Building to Tenant, and Tenant shall purchase its interest in the Building from Seller in accordance with the price and terms specified in Seller’s notice Seller and Tenant shall, in good faith, attempt to reach agreement on the terms of a mutually acceptable purchase agreement consistent with the terms set forth in Seller’s notice within thirty (30) days of Seller’s notice. In the event (i) Seller and Tenant are unable to reach agreement on a mutually acceptable purchase agreement within such thirty (30) day period or (ii) Tenant fails to exercise Tenant’s option within said thirty (30) day period, Seller shall have one hundred eighty (180) days thereafter to sell its interest in the Building at no less than ninety five percent (95%) of the sales price and upon the same or substantially the same other terms of sale as specified in the notice to Tenant. In the event Seller fails to sell its interest in the Building within said one hundred eighty (180) day period or in the event Seller proposes to sell its interest in the Building at less than ninety five percent (95%) of the sales price or on other material terms which are more favorable to the prospective buyer than that proposed to Tenant, Seller shall be required to resubmit such offer to Tenant in accordance with this Right of First Offering except that Tenant shall be required to respond to any resubmission within a seven (7) day period.
Xxxxx and Exercise of Option. Provided that Tenant is not in default in the payment of Rent or no material Event of Default (as defined in Section 20.1) has occurred, Tenant shall have the option (“Extension Option”) to extend the Lease Term for two (2) additional periods of seven (7) years each (each an “Extension Term”). Each Extension Term shall be upon the same terms and conditions contained in the Lease except (x) the provision giving two (2) extension options shall be amended to reflect only the remaining option to extend, if any, (y) any rent abatements or other concessions applicable to the Leased Premises under this Lease shall not apply to the Extension Term, and (z) the Base Rent shall be adjusted as set forth below (the “Base Rent Modification”). Tenant shall exercise each option by delivering written notice (“Tenant’s Interest Notice”) to Landlord, no earlier than eighteen (18) months prior to the expiration of the then existing Term and no later than nine (9) months prior to the expiration of the then existing Term. Tenant’s failure to timely deliver Tenant’s Interest Notice shall be deemed a waiver of such option.
Xxxxx and Exercise of Option. In the event Landlord elects to sell the Building either separately or as part of a larger sale including other building(s) within the Project ("Offered Property"), Landlord (referred to hereinafter in this Section 20 as "Seller") hereby grants Tenant a right of first offering to purchase. Prior to Seller committing to sell its interest in the Offered Property to a third party, Seller shall give Tenant written notice of such desire and the terms and other information under which Seller intends to sell the Offered Property. Provided at the time of such written notice: (i) Tenant leases at least two buildings within the Project; and (ii) Tenant is not in default under the Lease beyond the expiration of any applicable cure period, Tenant shall have the option, which must be exercised, if at all, by written notice to Seller within fifteen (15) days after Tenant's receipt of Seller's notice, to purchase Seller's interest in the Offered Property at the sales price and terms of sale specified in the notice. In the event Tenant timely exercises such option to purchase its interest in the Offered Property, Seller shall sell its interest in the Offered Property to Tenant, and Tenant shall purchase its interest in the Offered Property from Seller in accordance with the price and terms specified in Seller's notice. Seller and Tenant shall, in good faith, attempt to reach agreement on the terms of a mutually acceptable purchase agreement consistent with the terms set forth in Seller's notice within thirty
Xxxxx and Exercise of Option. Landlord grants to Tenant, subject to the terms and conditions set forth in this Section 18.A, an option ( “Option”) to extend the Lease Term for an additional term (the “Option Term”). The
Xxxxx and Exercise of Option. Landlord grants to Tenant, subject to the terms and conditions set forth in this Section 18.A, two (2) options (the “Options”) to extend the Lease Term for an additional term (the “Option Term”). Each Option Term shall be for a period of thirty (30) months and shall be exercised, if at all, by written notice to Landlord no earlier than nine (9) months prior to the date the Lease Term would expire but for such exercise but no later than six (6) months prior to the date the Lease Term would expire but for such exercise, time being of the essence for the giving of such notice. If Tenant exercises the Option, all of the
Xxxxx and Exercise of Option. Provided that (i) Tenant is not in Default hereunder, and (ii) Tenant originally named herein or a Permitted Transferee remains in possession of (a) the Original Premises since the Commencement Date and continuing through the entire term of the Original Premises, and (b) the Additional Space since the Additional Space Commencement Date and continuing through the entire term of the Original Premises, Tenant shall have the option to extend the Lease Term of the Leased Premises for two (2) additional periods of five (5) years each (the “Extension Term(s)); provided, however, condition (ii)(b) above shall apply only if the term of the Additional Space has been extended, either pursuant to Section 16.21 hereof or by agreement of the parties, for the Additional Space Extension Term.”
Xxxxx and Exercise of Option. Landlord grants to Tenant, subject to the terms and conditions set forth in this Section 18.A, one (1) option ("Option") to extend the Lease Term for an additional term (the "Option Term"). The Option Term shall be for a period of sixty (60) months and shall be exercised, if at all, by written notice to Landlord no earlier than eighteen (18) months prior to the Expiration Date but no later than nine (9) months prior to the Expiration Date. If Tenant exercises the Option, all of the terms, covenants and conditions of this Lease except this Section shall apply during the Option Term, except that the Base Monthly Rent for the
Xxxxx and Exercise of Option. Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this paragraph, two (2) options (the "Options") to extend the Lease Term for an additional term (the "Option Term"), each Option Term shall be for a period of thirty-six (36) months. Each such Option shall be exercised, if at all, by written notice to Landlord no earlier than the date that is fifteen (15) months prior to the Expiration Date (which as used in this Paragraph 37.A in connection with the second Option, shall mean the date of Expiration of the first
