Common use of Exercise of Extension Option Clause in Contracts

Exercise of Extension Option. Provided Tenant is ---------------------------- eligible and permitted to exercise the Option, Tenant may exercise such Extension Options by notifying Landlord in writing no later than six (6) months prior to the expiration of the applicable Term, the parties hereby agreeing that time is of the essence with respect to such notice. If Tenant does not timely give such notice to Landlord as here provided, then the Lease shall terminate at the end of the extant Term and the option to extend for any unexercised Extension Terms shall be deemed terminated.

Exercise of Extension Option. Provided Tenant is eligible ---------------------------- eligible and permitted to exercise the Option, Tenant may exercise such Extension Options by notifying Landlord in writing no later than six (6) months prior to the expiration of the applicable Term, the parties hereby agreeing that time is of the essence with respect to such notice. If Tenant does not timely give such notice to Landlord as here provided, then the Lease shall terminate at the end of the extant Term and the option to extend for any unexercised Extension Terms shall be deemed terminated.