Common use of Xxxxx xxx Exercise of Option Clause in Contracts

Xxxxx xxx Exercise of Option. Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this Article 37 four (4) 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 twenty four (24) months prior to the Expiration Date but no later than the date that is twelve (12) months prior to the Expiration Date. Thirteen (13) months prior to the Expiration Date Landlord shall provide Tenant with a written notice of the fact that the Option will expire in thirty (30) days. If Tenant exercises the Option, each of the terms, covenants and conditions of this Lease except this Article 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 payable on the Commencement Date, 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 beyond any applicable cure period under any of the terms, covenants or conditions of this Lease 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 all of Landlord's other rights and

Xxxxx xxx Exercise of Option. Landlord hereby grants to Tenant, upon and subject to Provided that (i) Tenant has not been in Default hereunder at any time during the terms and conditions set forth in Term of this Article 37 four Lease (4) options (the "Options") to extend the Lease Term for an additional term (the "Option Original Term"), each Option (ii) the creditworthiness of Tenant is then acceptable to Landlord, (iii) Tenant named herein remains in possession of and has been continuously operating in the entire Leased Premises, throughout the Original Term and (iv) the current use of the Leased Premises is acceptable to Landlord, Tenant shall have one (1) option to extend the Original Term for one (1) additional period of five (5) years (the "Extension Term"). The Extension Term shall be upon the same terms and conditions contained in the Lease for a period of sixty the Original Term except (60i) months. Each such Option Tenant shall not have any further option to extend and (ii) the Minimum Annual Rent shall be exercisedadjusted as set forth here ("Rent Adjustment"). Tenant shall exercise such option by delivering to Landlord, if at all, by written notice to Landlord no earlier later than the date that is twenty four nine (249) months prior to the Expiration Date but expiration of the Original Term, written notice of Tenant's desire to extend the Original Term. Tenant's failure to properly exe4rcise such option shall waive it. If Tenant properly exercises its option to extend, Landlord shall notify Tenant of the Rent Adjustment no later than the date that is twelve ninety (1290) months days prior to the Expiration Datecommencement of the Extension Term. Thirteen Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within five (135) months prior business days after receipt thereof. If Tenant properly exercises its option to extend, Landlord and Tenant shall execute an amendment to the Expiration Date Landlord shall provide Tenant with Lease s(or, at Landlord's option, a written notice new lease on the form then in use for the Building) reflecting the terms and conditions of the fact that the Option will expire in Extension Term, within thirty (30) days. If Tenant exercises the Option, each days after Tenant's acceptance of the terms, covenants and conditions of this Lease except this Article 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 payable on the Commencement Date, 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 beyond any applicable cure period under any of the terms, covenants or conditions of this Lease 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 all of Landlord's other rights andAdjustment.

Xxxxx xxx Exercise of Option. Provided that (i) Tenant is not then in default hereunder beyond any applicable cure periods, (ii) the creditworthiness of Tenant is then acceptable to Landlord, (iii) Tenant originally named herein remains in possession of and has been continuously operating in the entire Leased Premises throughout the original five (5) year term of this Lease (the "Original Term") and (iv) the current use of the Leased Premises is acceptable to Landlord, Tenant shall have one (1) option to extend the Original Term for one (1) additional period of three (3) years (the "Extension Term"). The Extension Term shall be upon the same terms and conditions contained in the Lease for the Original Term except (i) Tenant shall not have any further option to extend and (ii) the Minimum Annual Rent shall be adjusted as set forth herein ("Rent Adjustment"). Tenant shall exercise such option by delivering to Landlord, no later September 30, 2001, written notice of Tenant's desire to extend the Original Term. Tenant's failure to properly exercise such option shall waive it. If Tenant properly exercises its option to extend, Landlord hereby grants shall notify Tenant of the Rent Adjustment no later than ninety (90) days prior to Tenantthe commencement of the Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within five (5) business days after receipt thereof. If Tenant properly exercises its option to extend, upon Landlord and subject Tenant shall execute an amendment to the Lease (or, at Landlord's option, a new lease on the form then in use for the Building) reflecting the terms and conditions set forth in this Article 37 four (4) 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 twenty four (24) months prior to the Expiration Date but no later than the date that is twelve (12) months prior to the Expiration Date. Thirteen (13) months prior to the Expiration Date Landlord shall provide Tenant with a written notice of the fact that the Option will expire in thirty (30) days. If Tenant exercises the Option, each of the terms, covenants and conditions of this Lease except this Article 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 payable on the Commencement Date, or (ii) ninety five percent (95%) of the Fair Market Rental, as hereinafter defined, for the Premises for the Option Extension Term. Anything contained herein to the contrary notwithstanding, if Tenant is in monetary or material non-monetary default beyond any applicable cure period under any of the terms, covenants or conditions of this Lease 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 all of Landlord's other rights and.

Xxxxx xxx Exercise of Option. Landlord hereby grants Provided that (i) Tenant is not in default at the time of exercise or commencement of this option, (ii) the creditworthiness of Tenant has not materially diminished, and (iii) the use of the Leased Premises has not changed, Tenant shall have one (1) option to Tenant, extend the term of this Lease (the "Original Term") for one (1) additional period of five (5) years (the "Extension Term"). The Extension Term shall be upon and subject to the same terms and conditions contained in the Lease for the Original Term except (i) Tenant shall not have any further option to extend and (ii) the Minimum Annual Rent shall be adjusted as set forth in this Article 37 four herein (4) options (the "Options") to extend the Lease Term for an additional term (the "Option TermRent Adjustment"). Tenant shall exercise such option by delivering to Landlord, 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 twenty four (24) months prior to the Expiration Date but no later than the date that is twelve (12) months prior to the Expiration Date. Thirteen (13) months prior to expiration of the Expiration Date Landlord shall provide Tenant with a Original Term, written notice of Tenant's desire to extend the fact that the Option will expire in thirty (30) daysOriginal Term. Tenant's failure to properly exercise such option shall waive it. If Tenant properly exercises the Optionits option to extend, each Landlord shall notify Tenant of the terms, covenants and conditions of this Lease except this Article 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 Adjustment no later than ninety (i90) the Base Monthly Rent payable on the Commencement Date, 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 beyond any applicable cure period under any of the terms, covenants or conditions of this Lease either at the time Tenant exercises the Option or at any time thereafter days prior to the commencement date of the Option Extension Term. Tenant shall be deemed to have accepted the Rent Adjustment if it fails to deliver to Landlord a written objection thereto within ten (10) business days after receipt thereof. If Tenant properly exercises its option to extend, Landlord and Tenant shall haveexecute an amendment to the Lease (or, in addition to all of at Landlord's other rights andoption, a new lease on the form then in use for the Building) reflecting the terms and conditions of the Extension Term.

Xxxxx xxx Exercise of Option. Landlord hereby grants Provided (i) Tenant is not in default hereunder and (ii) Tenant originally named herein or a Permitted Transferee remains in possession of and has been operating in the Leased Premises for the Term immediately preceding the Extension Term (defined below), Tenant shall have the option to Tenant, extend the Term of this Lease ("Original Term") for seventy-five percent (75%) or more of the Leased Premises for two (2) additional periods of five (5) years each (the "Extension Term(s)"). The Extension Term shall be upon and subject to the same terms and conditions contained in the Lease for the original Term except (i) this provision giving two (2) extension options shall be amended to reflect the remaining options to extend, if any and (ii) the Minimum Annual Rent shall be adjusted as set forth in this Article 37 four (4) options below (the "Options"'Rent Adjustment'). Tenant shall exercise such options by (i) delivering to extend the Lease Term for an additional term Landlord, no later than nine (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 twenty four (249) months prior to the Expiration Date but no later than expiration of the date that is twelve (12) months prior to the Expiration Date. Thirteen (13) months prior to the Expiration Date Landlord shall provide Tenant with a Original Term or first extension term, as applicable, written notice of Tenant's desire to extend the fact that Term of the Option will expire Lease and designate the location and amount of the part of the Leased Premises to which such option applies (if less than the entire Leased Premises is being renewed as specifically provided herein). Unless Landlord otherwise agrees in thirty (30) dayswriting, Tenant's failure to timely exercise such option shall waive it and any succeeding option. If Tenant properly exercises its option to extend, Landlord and Tenant shall execute an amendment to the Option, each of Lease reflecting the terms, covenants terms and conditions of this Lease except this Article 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 payable on the Commencement Date, or (ii) ninety five percent (95%) of the Fair Market Rental, as hereinafter defined, for the Premises for the Option Extension Term. Anything contained herein to the contrary notwithstanding, if Tenant is in monetary or material non-monetary default beyond any applicable cure period under any of the terms, covenants or conditions of this Lease 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 all of Landlord's other rights and.