Common use of Extended Terms Clause in Contracts

Extended Terms. Tenant shall have the right to extend the Term for up to five (5) consecutive renewal terms of ten (10) years each (each, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five one renewal term of fifteen (5) consecutive renewal terms of ten (1015) years each (each, an the “Extended Term”), provided that (unless Landlord . The Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of the extension option and on the first day of each such Extended Fixed Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each the Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid option, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended TermDecember 31, 2018, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five one renewal term of fifteen (5) consecutive renewal terms of ten (1015) years each (each, an the “Extended Term”), provided that (unless Landlord . The Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of the extension option and on the first day of each such Extended Fixed Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each the Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid option, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended TermDecember 31, 2020, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on May 1, there 2017 and expire on April 30, 2032 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on May 1, even if such Entity is a BP Affiliate2032 and expire on April 30, 2047. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermApril 30, 2047. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior April 30, 2015, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than April 30, 2030, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five one renewal term of fifteen (5) consecutive renewal terms of ten (1015) years each (each, an “the "EXTENDED TERM"). The Extended Term”), provided that (unless Landlord Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of the extension option and on the first day of each such Extended Fixed Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each the Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid option, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended TermDecember 31, 2018, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive renewal terms of ten (10) years each (eachcollectively, an the “Extended TermTerms”), provided that (unless Landlord . Each Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of Fixed Term or the extension option and on the first day of each such preceding Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet as the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermTerms. If Tenant shall elect to exercise its option to extend either of the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof thereof, which Notice shall be given not later than eighteen (18a) months prior to June 30, 2024, in the commencement case of the applicable first Extended Term, or (b) June 30, 2034, in the case of the second Extended Term, it being understood and agreed that time shall be of the essence with respect to the giving of any each such Notice. If Tenant shall fail to give any either such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable preceding Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the preceding Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on January 1, there 2025 and expire on December 31, 2039 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on January 1, even if such Entity is a BP Affiliate2040 and expire on December 31, 2054. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermDecember 31, 2054. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior December 31, 2022, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than December 31, 2037, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five (5) consecutive two renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on May 1, there 2017 and expire on April 30, 2032 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on May 1, even if such Entity is a BP Affiliate2032 and expire on April 30, 2047. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that during the second Extended Term, the Minimum Rent shall be adjusted so that the portion of the Minimum Rent attributable to the New Seasons Properties shall be the Fair Market Rental Value thereof, and Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermApril 30, 2047. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior April 30, 2015, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than April 30, 2030, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement. Notwithstanding the foregoing, Tenant shall have no right to extend the Term for the second Extended Term with respect to any Properties located in the State of California. If Tenant shall extend the Term for the second Extended Term, the definition of Leased Property shall exclude any Properties located in the State of California during the second Extended Term, Minimum Rent shall be reduced by the Minimum Rent allocated thereto by the parties, and Tenant shall surrender such Properties to Landlord at the expiration of the first Extended Term in the condition required by Section 5.3 and shall comply with all of its other obligations relating to such Properties as if the Term had expired at the end of the first Extended Term.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive fifteen (15) year renewal terms (the “Extended Terms”, the first of ten (10) years each (eachwhich is herein referred to as the “First Extended Term”, an the second of which is herein referred to as the “Second Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each the Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Terms, except that (a) Tenant shall have no right to extend the Term beyond the expiration of the fifth Second Extended Term, and (b) during the Second Extended Term, the rate of Minimum Rent shall be the Fair Market Rental. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof thereof, not later less than eighteen one (181) months year prior to the commencement scheduled expiration of the applicable Extended Term, it being understood and agreed that time shall be is of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed then current Term or the applicable Extended Termof this Agreement and, and upon such termination, Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five (5) consecutive two renewal terms of ten (10) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on July 1, there 2026 and expire on June 30, 2036 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on July 1, even if such Entity is a BP Affiliate2036 and expire on June 30, 2046. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermJune 30, 2046. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior June 30, 2024, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than June 30, 2034, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement. Notwithstanding the foregoing, Tenant shall have no right to extend the Term for the second Extended Term with respect to any Properties located in the State of California. If Tenant shall extend the Term for the second Extended Term, the definition of Leased Property shall exclude any Properties located in the State of California during the second Extended Term, Minimum Rent shall be reduced by the Minimum Rent allocated thereto by the parties, and Tenant shall surrender such Properties to Landlord at the expiration of the first Extended Term in the condition required by Section 5.3 and shall comply with all of its other obligations relating to such Properties as if the Term had expired at the end of the first Extended Term.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five (5) consecutive two renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on January 1, there 2029 and expire on December 31, 2043 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on January 1, even if such Entity is a BP Affiliate2044 and expire on December 31, 2058. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermDecember 31, 2058. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior December 31, 2026, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than December 31, 2041, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement. Notwithstanding the foregoing, Tenant shall have no right to extend the Term for either Extended Term with respect to any Properties located in the State of California. If Tenant shall extend the Term, the definition of Leased Property shall exclude any Properties located in the State of California during the Extended Term(s), Minimum Rent shall be reduced by the Minimum Rent allocated thereto by the parties, and Tenant shall surrender such Properties to Landlord at the expiration of the Fixed Term in the condition required by Section 5.3 and shall comply with all of its other obligations relating to such Properties as if the Term had expired at the end of the Fixed Term.

Extended Terms. Provided no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Fixed Term for up to five (5) consecutive renewal terms three additional periods of ten (10) years each (each, an “"Extended Term”"), provided that (unless Landlord . Each Extended Term shall elect in its sole discretion to waive any such condition), at commence on the time Tenant exercises a right to extend day succeeding the expiration of the Fixed Term or the preceding Extended Term, (a) no Event of Default as the case may be, and shall have occurred and be continuing and (b) end on the date day immediately preceding the tenth anniversary of the exercise commencement of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement Lease shall apply to each such Extended Term, except that (a) the Minimum Rent for the first year of each Extended Term shall be the greater of (x) the Minimum Rent payable during the last year of the Fixed Term (for the first Extended Term) or the last year of the immediately preceding Extended Term (including, but without limitation, for the two percent annual Minimum Rent increases provided in the definition of Minimum Rentsecond and third Extended Terms), except that as the case may be, and (y) the Fair Market Rental for the Leased Property determined as of the commencement of such Extended Term, and (b) Tenant shall have no further right to extend the Term beyond the expiration of the fifth Extended TermTerms hereinabove provided. If Tenant shall elect to exercise its option to extend either of the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice written notice thereof not later than eighteen one (181) months year prior to the commencement expiration of the applicable Extended Termthen current term of this Lease (Fixed or Extended, as applicable); it being understood and agreed that time shall be is of the essence with respect to the giving of any such Noticenotice. If Tenant shall fail to give any such Noticenotice, this Agreement Lease shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, term then in effect and Tenant shall have no further option to extend the Term term of this AgreementLease. If Tenant shall give such Noticenotice, the extension of this Agreement Lease shall be automatically effected effected, without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five (5) consecutive two renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on January 1, there 2025 and expire on December 31, 2039 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on January 1, even if such Entity is a BP Affiliate2040 and expire on December 31, 2054. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermDecember 31, 2054. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior December 31, 2022, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than December 31, 2037, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement. Notwithstanding the foregoing, Tenant shall have no right to extend the Term for either Extended Term with respect to any Properties located in the State of California. If Tenant shall extend the Term, the definition of Leased Property shall exclude any Properties located in the State of California during the Extended Term(s), Minimum Rent shall be reduced by the Minimum Rent allocated thereto by the parties, and Tenant shall surrender such Properties to Landlord at the expiration of the Fixed Term in the condition required by Section 5.3 and shall comply with all of its other obligations relating to such Properties as if the Term had expired at the end of the Fixed Term.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive renewal terms of ten fifteen (1015) years each (eachcollectively, an “the "Extended Term”Terms"), provided that (unless Landlord . Each Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of Fixed Term or the extension option and on the first day of each such preceding Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet as the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermTerms. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof not later than eighteen twelve (1812) months prior to the commencement scheduled expiration of the applicable Extended then current Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Tenant Provided that no Event of Default, or event which, with notice or lapse of time or both, would constitute an Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term (as hereunder defined), then Lessee shall have the right to extend renew this Lease with respect to all (but not less than all) of the Term Facilities then covered by this Lease for up to five two (52) consecutive renewal terms of ten (10) years year renewal terms (each (each, an “Extended Term”), provided that upon (unless Landlord shall elect in its sole discretion i) giving written notice to waive any Lessor of such condition), at the time Tenant exercises a right to extend the Term, renewal not less than twelve (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (1812) months prior to the commencement expiration of the applicable then current Term, (ii) delivering to Lessor concurrent with such notice a reaffirmation of the Guaranty(ies) executed by Guarantor(s) stating, in substance, that Guarantor’s(s’) obligations under the Guaranty(ies) shall extend to this Lease, as extended by the Extended Term and (iii) with respect to any Facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the concurrent exercise by the “Lessee” thereunder of the renewal of each such New Lease for the corresponding and co-terminus “Extended Term” thereof. During each Extended Term, it being understood and agreed that time shall be all of the essence with respect terms and conditions of this Lease shall continue in full force and effect. Notwithstanding anything to the giving contrary in this Section 19.1, Lessor, in its sole discretion, may waive the condition to Lxxxxx’s right to renew this Lease that no Event of any Default, or event which, with notice or lapse of time or both, would constitute an Event of Default, have occurred or be continuing, and the same may not be used by Lessee as a means to negate the effectiveness of Lessee’s exercise of its renewal right for such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five (5) consecutive two renewal terms of ten fifteen (1015) years each (each, each an “Extended Term”). If and to the extent Tenant shall exercise the options, provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended TermTerm shall commence on January 1, there 2029 and expire on December 31, 2043 and the second Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantorcommence on January 1, even if such Entity is a BP Affiliate2044 and expire on December 31, 2058. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermDecember 31, 2058. If Tenant shall elect to exercise its the option to extend the Term for any the first Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior December 31, 2026, and if Tenant shall elect to exercise its option to extend the commencement of Term for the applicable second Extended Term after having elected to extend the Term for the first Extended Term, it shall do so by giving Landlord Notice not later than December 31, 2041, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the first Extended Term as applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord’s option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the Extended Term, as applicable, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Tenant (a) Provided that no Event of Default, or event which, with notice or lapse of time or both, would constitute a monetary Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term, Lessee shall have the right (subject to extend Section 19.1(c)) to renew this Lease with respect to all (but not less than all) of, respectively, the Term Pool 1 Facilities, the Pool 2 Facilities and the Pool 3 Facilities then covered by this Lease for up to five (5) consecutive the Extended Terms for such Facilities set forth on Exhibit A-0, Xxxxxxx X-0 and Exhibit A-3 attached hereto. Each renewal terms of ten (10) years each (each, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor exercised, if at all, by Lessee (i) giving written notice to Lessor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof renewal not later less than eighteen (18) months prior to the commencement expiration of the applicable Extended then-current Term, it being understood and agreed that (ii) delivering (if the Guaranty is, at the time shall of such notice, required to be in place pursuant to this Lease) to Lessor, concurrently with the delivery of the essence notice described in clause (i) hereof, a reaffirmation of the Guaranty executed by the Guarantor stating, in substance, that the Guarantor’s obligations under such Guaranty shall extend to this Lease, as extended by the subject Extended Term (but Lessor may, at its sole and absolute discretion, waive this requirement), and (iii) with respect to any facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the giving exercise by the “Lessee” thereunder of the renewal of each such New Lease or other lease for the corresponding and co-terminus “Extended Term” thereof, concurrently with the delivery of the notice described in clause (i) hereof. Lessee’s exercise of any such Notice. If Tenant renewal option hereunder shall fail to give any such Notice, this Agreement shall automatically terminate at the end be irrevocable and immediately binding upon Lessee as of the Fixed Term or date that Lessee delivers the applicable Extended Termnotices and reaffirmations pursuant to the foregoing items (i)through (iii). As of the date hereof, and Tenant shall have no further option to extend the parties agree that the Term of this AgreementLease including all Extended Terms does not exceed 80% of the estimated remaining useful life of any Facility. If Tenant shall give such NoticeDuring eachExtended Term, all of the extension terms and conditions of this Agreement Lease shall be automatically effected without the execution of any additional documents; it being understood continue in full force and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the sameeffect.

Extended Terms. Provided that (i) no Event of Default shall have occurred and be continuing, and (ii) the term of the Other Lease shall have been simultaneously extended, Tenant shall have the right to extend the Term for up to five (5) two consecutive renewal terms of, in the case of the first Extended Term, ten (10) years each (eachand, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date case of the exercise of the extension option and on the first day of each such second Extended Term, there five (5) years (collectively, the "Extended Terms"). Each Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet commence on the standard in clause (a) or (c) day succeeding the expiration of the definition of Qualifying Guarantor Fixed Term or shall provide Landlord with the audited financial statement described in preceding Extended Term, as the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermTerms. If Tenant shall elect to exercise its option to extend either of the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof thereof, in the case of the first Extended Term, not later than eighteen twenty-four (1824) months prior to the commencement expiration of the applicable Fixed Term, and in the case of the second Extended Term, not later than eleven (11) months prior to the expiration of the first Extended Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such NoticeNotice and notice pursuant to the Other Lease, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Provided that (i) no Event of Default shall have occurred and be continuing, and (ii) the term of the Other Lease shall have been simultaneously extended, Tenant shall have the right to extend the Term for up to five (5) two consecutive renewal terms of, in the case of the first Extended Term, ten (10) years each (eachand, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date case of the exercise of the extension option and on the first day of each such second Extended Term, there five (5) years (collectively, the "EXTENDED TERMS"). Each Extended Term shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet commence on the standard in clause (a) or (c) day succeeding the expiration of the definition of Qualifying Guarantor Fixed Term or shall provide Landlord with the audited financial statement described in preceding Extended Term, as the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermTerms. If Tenant shall elect to exercise its option to extend either of the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof thereof, in the case of the first Extended Term, not later than eighteen twenty-four (1824) months prior to the commencement expiration of the applicable Fixed Term, and in the case of the second Extended Term, not later than eleven (11) months prior to the expiration of the first Extended Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such NoticeNotice and notice pursuant to the Other Lease, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Tenant (a) Provided that no Event of Default, or event which, with notice or lapse of time or both, would constitute a monetary Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term, Lessee shall have the right (subject to extend Section 19.1(c)) to renew this Lease with respect to all (but not less than all) of, respectively, the Term Pool 1 Facilities, the Pool 2 Facilities and the Pool 3 Facilities then covered by this Lease for up to five (5) consecutive the Extended Terms for such Facilities set forth on Exhibit X-0, Xxxxxxx X-0 and Exhibit A-3 attached hereto. Each renewal terms of ten (10) years each (each, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor exercised, if at all, by Lessee (i) giving written notice to Lessor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof renewal not later less than eighteen (18) months prior to the commencement expiration of the applicable Extended then-current Term, it being understood and agreed that (ii) delivering (if the Guaranty is, at the time shall of such notice, required to be in place pursuant to this Lease) to Lessor, concurrently with the delivery of the essence notice described in clause (i) hereof, a reaffirmation of the Guaranty executed by the Guarantor stating, in substance, that the Guarantor’s obligations under such Guaranty shall extend to this Lease, as extended by the subject Extended Term (but Lessor may, at its sole and absolute discretion, waive this requirement), and (iii) with respect to any facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the giving exercise by the “Lessee” thereunder of the renewal of each such New Lease or other lease for the corresponding and co-terminus “Extended Term” thereof, concurrently with the delivery of the notice described in clause (i) hereof. Lessee’s exercise of any such Notice. If Tenant renewal option hereunder shall fail to give any such Notice, this Agreement shall automatically terminate at the end be irrevocable and immediately binding upon Lessee as of the Fixed Term or date that Lessee delivers the applicable Extended Termnotices and reaffirmations pursuant to the foregoing items (i) through (iii). As of the date hereof, and Tenant shall have no further option to extend the parties agree that the Term of this AgreementLease including all Extended Terms does not exceed 80% of the estimated remaining useful life of any Facility. If Tenant shall give such NoticeDuring each Extended Term, all of the extension terms and conditions of this Agreement Lease shall be automatically effected without the execution of any additional documents; it being understood continue in full force and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the sameeffect.

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five two (52) consecutive renewal terms of ten fifteen (1015) years each (eachcollectively, an the “Extended TermTerms”), provided that (unless Landlord . Each Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of Fixed Term or the extension option and on the first day of each such preceding Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet as the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended TermTerms. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice thereof not later than eighteen twelve (1812) months prior to the commencement scheduled expiration of the applicable Extended then current Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term or the preceding Extended Term, as the case may be, and Tenant shall have no further option to extend the Term of this Agreement. -20- ARTICLE 3

Extended Terms. Provided that no Event of Default shall have occurred and be continuing, Tenant shall have the right to extend the Term for up to five six (56) consecutive renewal terms of ten five (105) years each (each, an “Extended Term” and collectively, the “Extended Terms”), provided that (unless Landlord . Each Extended Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of Fixed Term or the extension option and on the first day of each such preceding Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet as the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliatecase may be. All of the terms, covenants and provisions of this Agreement shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that (a) Tenant shall have no right to extend the Term beyond the expiration of the sixth (6th) Extended Term and (b) Minimum Rent during the first Fiscal Year of the third (3rd), fourth (4th), fifth (5th) and sixth (6th) Extended TermTerms shall be adjusted in accordance with Section 3.1.1(b). If Tenant Provided that this Agreement shall elect not have been terminated pursuant to exercise its option to extend any provision hereof, the Term shall be automatically extended for any an Extended Term, it unless Tenant shall do so by giving give Landlord Notice thereof not later than eighteen (18) twelve months prior to the commencement scheduled expiration of the applicable Extended Termthen-current Term that Tenant elects not to so extend the Term of this Agreement, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail give Notice that it elects not to give any such Noticeextend the Term in accordance with this Section 2.4, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended then-current Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such NoticeOtherwise, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Tenant is granted the option to extend the Initial ---------------- Lease Term ("Renewal Option(s)") upon and subject to all of the provisions contained herein, except for the Monthly Rent and the option to extend as set forth herein, for two (2) separate, consecutive five (5) year periods (the "Extended Term(s)") following expiration of the Initial Lease Term set forth in Section 2.1D by giving written notice of exercise of the Renewal Option ("Option ------------ Notice") to Landlord not more than two hundred seventy (270) Days nor fewer than one hundred fifty (150) Days before the expiration of the term then in effect. Once exercised, the Tenant shall not have the right to extend revoke its election to exercise the Term Renewal Option. If the Renewal Option is not exercised as provided for up herein within the time provided for, then the Renewal Option shall expire and the Tenant shall not have the right to five renew the Lease. To avoid any inadvertent forfeiture of any Renewal Option, if Tenant fails to give the Option Notice at least one hundred fifty (5150) consecutive renewal terms Days before the expiration of the term then in effect and has not given Landlord advance Notice of Tenant's intent not to exercise its Renewal Option, then Tenant's right to exercise such Renewal Option shall continue, as shall its tenancy under this Lease, until ten (10) years each Days after Landlord gives Tenant Notice of Landlord's election to terminate the Renewal Option, during which ten (each, an “Extended Term”)10) Day period Tenant may exercise its Renewal Option, provided that (unless Landlord shall elect in its sole discretion it otherwise is eligible to waive any such condition), at do so under the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions terms of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended Term, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the sameLease.

Extended Terms. Tenant (a) Provided that no Master Lease Event of Default, or event which, with notice or lapse of time or both, would constitute a monetary Master Lease Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term, Lessee shall have the right (subject to Section 19.2(b)) to extend the Term for up of this Lease with respect to five (5) consecutive renewal terms of ten (10) years each (each, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) on the date all of the exercise of the extension option and on the first day of each such Extended TermApplicable Facilities, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to for each Extended Term as set forth herein. Each renewal option shall be exercised, if at all, by Lessee (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition i) giving written notice to Lessor of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof such renewal not later less than eighteen (18) months prior to the commencement expiration of the applicable Extended then- current Term, it being understood and agreed that (ii) delivering (if the Guaranty is, at the time shall of such notice, required to be in place pursuant to this Lease) to Lessor, concurrently with the delivery of the essence notice described in clause (i) hereof, a reaffirmation of the Guaranty executed by the Guarantor stating, in substance, that the Guarantor’s obligations under such Guaranty shall extend to this Lease, as extended by the subject Extended Term (but Lessor may, at its sole and absolute discretion, waive this requirement), and (iii) with respect to any facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the giving exercise by the “Lessee” thereunder of the renewal of each such New Lease or other lease for the corresponding and co-terminus “Extended Term” thereof, concurrently with the delivery of the notice described in clause (i) hereof. Lessee’s exercise of any such Notice. If Tenant renewal option hereunder shall fail to give any such Notice, this Agreement shall automatically terminate at the end be irrevocable and immediately binding upon Lessee as of the Fixed Term or date that Lessee delivers the applicable Extended Termnotices and reaffirmations pursuant to the foregoing items (i) through (iii). As of the date hereof, and Tenant shall have no further option to extend the parties agree that the Term of this AgreementLease including all Extended Terms does not exceed 80% of the estimated remaining useful life of any Facility. If Tenant shall give such NoticeDuring each Extended Term, all of the extension terms and conditions of this Agreement Lease shall be automatically effected without the execution of any additional documents; it being understood continue in full force and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.effect

Extended Terms. Tenant “(a) Extended Term(s) for All Facilities (other than the Cherry Hill Facility). Provided that no Event of Default, or event which, with notice or lapse of time or both, would constitute an Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term (as hereunder defined), then Lessee shall have the right to extend renew this Lease with respect to all (but not less than all) of the Term Facilities (other than the Cherry Hill Facility) then covered by this Lease for up to five two (52) consecutive renewal terms of ten (10) years year renewal terms (each (each, an “Extended Term”), provided that upon (unless Landlord shall elect in its sole discretion i) giving written notice to waive any Lessor of such condition), at the time Tenant exercises a right to extend the Term, renewal not less than twelve (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (1812) months prior to the commencement expiration of the applicable then current Term, (ii) delivering to Lessor concurrent with such notice a reaffirmation of the Guaranty (ies) executed by Guarantor(s) stating, in substance, that Guarantor’s(s’) obligations under the Guaranty(ies) shall extend to this Lease, as extended by the Extended Term and (iii) with respect to any Facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the concurrent exercise by the “Lessee” thereunder of the renewal of each such New Lease for the concurrent exercise by the “Lessee” thereunder of the renewal of each such New Lease for the corresponding and co-terminus “Extended Term” thereof. During each Extended Term, it being understood and agreed that time shall be all of the essence with respect terms and conditions of this Lease shall continue in full force and effect. Notwithstanding anything to the giving contrary in this Section 19.1(a), Lessor, in its sole discretion, may waive the condition to Lessee’s right to renew this Lease that no Event of any Default, have occurred or be continuing, and the same may not be used by Lessee as a means to negate the effectiveness of Lessee’s exercise of its renewal right for such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Tenant shall have the right to extend the Term for up to five (5) consecutive renewal terms of ten (10) years each (each, an “Extended Term”), provided that (unless Landlord shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) Provided no Default or Event of Default shall have occurred and be continuing and Tenant shall simultaneously exercise its right to extend the term of all of the Other Leases, Tenant shall have the right to extend the Fixed Term for two additional periods of ten (b10) years each (the "Extended Terms"). Each Extended Term shall commence on the date day succeeding the expiration of the exercise Fixed Term or the preceding Extended Term, as the case may be, and shall end on the day immediately preceding the tenth anniversary of the extension option and on the first day commencement of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement Lease shall apply to each such Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that (a) the Minimum Rent for the second such Extended Term shall be the greater of (x) the Minimum Rent payable during the first such Extended Term and (y) the Fair Market Rental for the Leased Property determined as of the commencement of such Extended Term, and (b) Tenant shall have no further right to extend the Term beyond the expiration of the fifth Extended TermTerms hereinabove provided. If Tenant shall elect to exercise its option to extend either of the Term for any Extended Termaforesaid options, it shall do so by giving Landlord Notice written notice thereof not later than eighteen one (181) months year prior to the commencement expiration of the applicable Extended Termthen current term of this Lease (Fixed or Extended, as applicable); it being understood and agreed that time shall be is of the essence with respect to the giving of any such Noticenotice. If Tenant shall fail to give any such Noticenotice, this Agreement Lease shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, term then in effect and Tenant shall have no further option to extend the Term term of this AgreementLease. If Tenant shall give such Noticenotice, the extension of this Agreement Lease shall be automatically effected effected, without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Provided that (i) no Event of Default shall have occurred and be continuing, and (ii) the term of the Other Lease shall have been simultaneously extended, Tenant shall have the right to extend the Term for up to five one renewal term of fifteen (5) consecutive renewal terms of ten (1015) years each (each, an “the "EXTENDED TERM"). The Extended Term”), provided that (unless Landlord Term shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) commence on the date day succeeding the expiration of the exercise of the extension option and on the first day of each such Extended Fixed Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each the Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent)Term, except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Termaforesaid option, it shall do so by giving Landlord Notice thereof not later than eighteen (18) months prior to the commencement of the applicable Extended TermJune 20, 2015, it being understood and agreed that time shall be of the essence with respect to the giving of any such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such NoticeNotice and notice pursuant to the Other Lease, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same. Notwithstanding the provisions of the foregoing sentence, if, subsequent to the giving of such Notice, an Event of Default shall occur, at Landlord's option, the extension of this Agreement shall cease to take effect and this Agreement shall automatically terminate at the end of the Fixed Term, and Tenant shall have no further option to extend the Term of this Agreement.

Extended Terms. Tenant Provided that no Event of Default, or event which, with notice or lapse of time or both, would constitute an Event of Default, has occurred and is continuing, either at the date of exercise or upon the commencement of an Extended Term (as hereunder defined), then Lessee shall have the right to extend renew this Lease with respect to all (but not less than all) of the Term Facilities then covered by this Lease for up to five two (52) consecutive renewal terms of ten (10) years year renewal terms (each (each, an “Extended Term”), provided that upon (unless Landlord shall elect in its sole discretion i) giving written notice to waive any Lessor of such condition), at the time Tenant exercises a right to extend the Term, renewal not less than twelve (a) no Event of Default shall have occurred and be continuing and (b) on the date of the exercise of the extension option and on the first day of each such Extended Term, there shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet the standard in clause (a) or (c) of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliate. All of the terms, covenants and provisions of this Agreement shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth Extended Term. If Tenant shall elect to exercise its option to extend the Term for any Extended Term, it shall do so by giving Landlord Notice thereof not later than eighteen (1812) months prior to the commencement expiration of the applicable then current Term, (ii) delivering to Lessor concurrent with such notice a reaffirmation of the Guaranty(ies) executed by Guarantor(s) stating, in substance, that Guarantor’s(s’) obligations under the Guaranty(ies) shall extend to this Lease, as extended by the Extended Term and (iii) with respect to any Facility(ies) subject to a New Lease hereafter with or in favor of Lessor or any Affiliate of Lessor, the concurrent exercise by the “Lessee” thereunder of the renewal of each such New Lease for the corresponding and co-terminus “Extended Term” thereof. During each Extended Term, it being understood and agreed that time shall be all of the essence with respect terms and conditions of this Lease shall continue in full force and effect. Notwithstanding anything to the giving contrary in this Section 19.1, Lessor, in its sole discretion, may waive the condition to Xxxxxx’s right to renew this Lease that no Event of any Default, or event which, with notice or lapse of time or both, would constitute an Event of Default, have occurred or be continuing, and the same may not be used by Lessee as a means to negate the effectiveness of Lessee’s exercise of its renewal right for such Notice. If Tenant shall fail to give any such Notice, this Agreement shall automatically terminate at the end of the Fixed Term or the applicable Extended Term, and Tenant shall have no further option to extend the Term of this Agreement. If Tenant shall give such Notice, the extension of this Agreement shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.

Extended Terms. Provided that (i) no Event of Default shall have occurred and be continuing, (ii) this Lease shall be in full force and effect and (iii) the tenant under each Simultaneous Lease shall have simultaneously exercised its option to extend the term of the Simultaneous Lease to which it is a party (other than Simultaneous Leases that have been terminated in accordance with the provisions thereof, or by the mutual agreement of the landlord and tenant thereunder). Tenant shall have the right to extend the Term for up to five (5) two consecutive renewal extended terms of ten (10) five years each (each, an “"Extended Term”"). Each Extended Term shall commence on the day succeeding the expiration of the Initial Term or the preceding Extended Term therefor, as the case may be (any such day, an "Extended Term Commencement Date"), provided that (unless Landlord and shall elect in its sole discretion to waive any such condition), at the time Tenant exercises a right to extend the Term, (a) no Event of Default shall have occurred and be continuing and (b) expire on the date day prior to the fifth (5th) anniversary of the exercise of the extension option and on the first day of each such Extended Term Commencement Date. For any Extended Term, there the Participating Revenue Percentage shall be a Guaranty in favor of Landlord from a Qualifying Guarantor which shall either meet equal to the standard in clause (a) or (c) fair market rate as of the definition of Qualifying Guarantor or shall provide Landlord with the audited financial statement described in the last paragraph of the definition of Qualifying Guarantor to establish that it meets the criteria in clause (b) thereof to be a Qualifying Guarantor, even if such Entity is a BP Affiliateapplicable Extended Term Commencement Date as reasonably determined by Landlord. All of the other terms, conditions, covenants and provisions of this Agreement Lease shall apply to each Extended Term (including, but without limitation, the two percent annual Minimum Rent increases provided in the definition of Minimum Rent), except that Tenant shall have no right to extend the Term beyond the expiration of the fifth for such Extended Term. If Tenant shall elect to exercise its option to extend any of the Term for any Extended Termaforesaid extensions, it Tenant shall do so by giving Landlord Notice thereof notice therefor not later than eighteen twelve (1812) months prior to the commencement expiration of the applicable Extended then current Term, it being understood and agreed that time shall be is of the essence with respect to the giving of any such Noticenotice. Tenant may not exercise this extension right with respect to more than one Extended Term at a time. If Tenant shall fail to give any such Noticenotice, this Agreement Lease shall automatically terminate at the end of the Fixed Term or the applicable Extended then current Term, and Tenant shall have no further option right to extend the Term of this AgreementLease. If Tenant shall give such Noticenotice, the extension of this Agreement the Lease shall be automatically effected without the execution of any additional documents; it being understood and agreed, however, that Tenant and Landlord shall execute such documents and agreements as either party shall reasonably require to evidence the same.