Exercise of Option to Extend Term. If no “Suspension Condition” (as hereinafter defined) exists at the time of Tenant’s exercise of the option to extend the Term or at the commencement of the Extended Term, and if Tenant has timely and properly exercised the option to extend set forth in the Annex Lease for the comparable extended term, Tenant shall have one (1) option (the “Extension Option”) to extend the Initial Term for an additional period of five (5) years (an “Extended Term”). To exercise Tenant’s option with respect to the Extended Term, Tenant shall give notice to Landlord not less than twelve (12) months prior to the expiration of the Initial Term (“Election Notice”). A “Suspension Condition” shall mean the existence of any event or condition of default after the expiration of any applicable grace, notice or cure periods. Notwithstanding any provision in this Lease to the contrary, Tenant shall have no right to exercise the Extension Option unless Tenant simultaneously properly exercises the extension option under the Annex Lease.
Exercise of Option to Extend Term. If no “Suspension Condition” (as hereinafter defined) exists at the time of Tenant’s exercise of an option to extend the Term or at the commencement of the Extended Term, as the case may be, and if Tenant has timely and properly exercised the option to extend set forth in the Landmark Lease for the comparable extended term, Tenant shall have one (1) option (the “Extension Option”) to extend the Initial Term until December 31, 2010 (the “Extended Term”). To exercise Tenant’s option with respect to the Extended Term, Tenant shall give notice to Landlord not earlier than eighteen (18) months prior and not later than twelve (12) months prior to the expiration of the Initial Term (“Election Notice”). A “Suspension Condition” shall mean the existence of any event or condition of default after the expiration of any applicable grace, notice or cure periods under either this Lease or the Landmark Lease.
Exercise of Option to Extend Term. If no “Suspension Condition” (as hereinafter defined) exists at the time of Tenant’s exercise of an option to extend the Term or at the commencement of the Extended Term, as the case may be, Tenant shall have one (1) option (the “Extension Option”) to extend the Initial Term for an additional period that shall expire on December 31, 2010 (the “Extended Term”). To exercise Tenant’s option with respect to the Extended Term, Tenant shall give notice to Landlord not earlier than eighteen (18) months prior and not later than twelve (12) months prior to the expiration of the Initial Term (“Election Notice”). A “Suspension Condition” shall mean the existence of any event or condition of default after the expiration of any applicable grace, notice or cure periods.
Exercise of Option to Extend Term. If no "Suspension Condition" (as hereinafter defined) exists at the time of Tenant's exercise of the option to extend the Initial Term or at the commencement of the Extended Term, as the case may be, Tenant shall have two (2) options (each an "Extension Option") to extend the Initial Term for an additional period of five (5) years each (each an "Extended Term"). To exercise Tenant's option with respect to the Extended Term, Tenant shall give notice to Landlord not less than two hundred ten (210) days prior to the expiration of the Initial Term, or the first Extended Term ("Election Notice"). A "Suspension Condition" shall mean the existence of any event or condition of default after expiration of any applicable grace, notice or cure periods. Tenant shall have no right to exercise the second Extension Option unless Tenant properly exercised the first Extension Option.
Exercise of Option to Extend Term. So long as (i) Tenant has not failed to cure any monetary defaults after applicable notice and cure periods during the one (1) year period preceding the date that Tenant exercises its Extension Option (as defined below) and
Exercise of Option to Extend Term. So long as (i) Tenant has not failed to cure any monetary defaults after applicable notice and cure periods during the one (1) year period preceding the date that Tenant exercises its Extension Option (as defined below) and (ii) Tenant has not failed to cure any monetary defaults after applicable notice and cure periods during the period beginning on the date that Tenant exercises its Extension Option and continuing until the day which precedes the commencement of the Extended Term, Tenant shall have one (1) option (the “Extension Option”) to extend the Term for an additional period of two (2) years, starting on May 1, 2012 and ending on April 30, 2014 (the “Extended Term”). To exercise Tenant’s option with respect to the Extended Term, Tenant shall give notice to Landlord not more than nine (9) months and not less than six (6) months prior to the expiration of the initial Term (“Election Notice”).
Exercise of Option to Extend Term. Full execution of this Renewal And Amendment Of Lease shall be deemed the exercise of First Renewal Option A by Tenant. Notwithstanding anything herein to the contrary, Tenant shall, in addition to the above mentioned First Renewal Option A and First Renewal Option B, have the three (3)
Exercise of Option to Extend Term. In order to timely exercise the Option to Extend Term, Tenant must deliver unequivocal and unconditional written notice thereof to Landlord ("Notice of Exercise of Option to Extend Term") at least two hundred seventy (270) calendar days prior to the Expiration Date but not more than three hundred sixty (360) calendar days prior to the Expiration Date.
Exercise of Option to Extend Term. Tenant shall have one (1) option (the “Extension Option”) to extend the initial Term for an additional period of five (5) years (the “Extended Term”) provided that the following conditions are satisfied: (i) as of the date of delivery of the Election Notice (as defined below), Tenant is not in economic or material default under this Lease, beyond any applicable notice and cure period expressly set forth in this Lease; (ii) as of the end of the initial Term, Tenant is not in economic or material default under this Lease, beyond any applicable notice and cure period expressly set forth in this Lease; and (iii) Tenant has not previously been in economic or material default under this Lease, beyond any applicable notice and cure period expressly set forth in this Lease, more than twice during the one (1) year period immediately preceding the date that Tenant delivers the Election Notice. To exercise Tenant’s option with respect to the Extended Term, Tenant shall give notice to Landlord not more than eighteen (18) months and not less than twelve (12) months prior to the expiration of the initial Term (“Election Notice”).
Exercise of Option to Extend Term. If Tenant has not been in default beyond any applicable cure period in any of its obligations under this Lease during the Lease Term, and Tenant is not in default of its obligations under this Lease beyond any applicable notice and cure periods at the time of Tenant's exercise, then Tenant shall have the option and right to extend the Term (the "Option") for a three (3) year period (the "Extended Term") upon compliance with this Section. Tenant shall exercise its Option by delivering written notice to Landlord of such exercise not less than ten (10) months prior to the end of the Term. If Tenant fails to give its written notice by said time, then the Option shall immediately lapse and terminate without any further notice or action by Landlord. The period of the exercised Option shall be included within the meaning of "Term." All terms and conditions of this Lease shall apply during the entire Term as extended by Tenant's exercised Option, except Basic Rent shall be established as provided in Subsection (b) or (c) below and any obligation of Landlord as to improvements to the Premises set forth in Section 4 of the Lease shall not apply. The Option is granted specifically to the named Tenant entity and any successor pursuant to an Allowed Transfer, and no other assignee, subtenant or successor through a Transfer shall hold the Option to extend the Term unless Landlord expressly grants such Option to the assignee, subtenant or successor.
