Common use of Extended Terms Clause in Contracts

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for four (4) additional periods (collectively, the "Extended Terms") as follows: four (4) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31, 2028. Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

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Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at Tenant shall have the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option right to extend the Initial Term of this Lease for four two (42) additional periods consecutive extended terms of ten (10) years each (collectively, the "Extended Terms") as follows: four (4) successive five (5) year periods for a maximum ” and individually, an “Extended Term”, and together with the Primary Term, if all such options are exercised, which ends on March 31, 2028. Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180called the “Term”) days, but not more than three hundred sixty (360) days, prior to upon the termination expiration of the Initial Primary Term or the then current preceding Extended Term, as the case may be, unless this Lease shall be sooner terminated pursuant to the terms of this Lease. Lessee If no Event of Default shall exist on such commencement date, each Extended Term shall commence on the day immediately succeeding the expiration date of the Primary Term or the preceding Extended Term, as the case may be, and shall end at midnight Eastern Time on the day immediately preceding the tenth (10th) anniversary of the first day of such Extended Term. Provided there is no Event of Default at the time of exercise of such option, Tenant may exercise each said option to extend this Lease for an Extended Term by giving written notice to that effect at least eighteen (18) months prior to the expiration of the then-existing Term. If Tenant does not exercise any such option in a timely manner, then all rights to extend the Lease automatically shall terminate, Landlord shall have no the right during the remainder of the Term of this Lease to rescind advertise the availability of the Premises for sale or reletting and to erect upon the Premises signs appropriate for the purpose of indicating such availability. The phrase “Term of this Lease” or “term hereof” means the Primary Term, plus any such notice once given. Lessee may not exercise its option for more than one Extended Term at a timewith respect to which the right has been exercised. During each effective Extended TermExcept as otherwise expressly provided herein, all of the terms and conditions provisions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for be applicable during each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related LeasesTerm.

Appears in 1 contract

Samples: Lease (Health Net Inc)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for four (4) additional periods (collectively, the "Extended Terms") as follows: four (4) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31, 20282029. Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for four (4) additional periods (collectively, the "Extended Terms") as follows: four (4) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31April 30, 20282029 . Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, LesseeXxxxxx's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as so long as there exists no Lease Default (as hereinafter defined) at the time of exercise shall have occurred and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may bebe continuing, Lessee is hereby granted the option right to extend the Initial Fixed Term of this Lease for four three (43) additional periods (collectively, the "Extended Terms") as follows: four three (43) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31September 29, 20282024. Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Fixed Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a)3.1.3. Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise extend the options Fixed Term granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases. For the purposes of this Section 1.3, the Related Leases are those leases which pertain to the Acquisition Facilities (as such term is defined in the Agreement Regarding Related Transactions).

Appears in 1 contract

Samples: Facility Lease Agreement (Alterra Healthcare Corp)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for four three (43) additional periods (collectively, the "Extended Terms") as follows: four three (43) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31, 2028the fifteenth (15th) anniversary of the Expiration Date. Lessee's extension option rights options shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a3.1(b). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Balanced Care Corp)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for four three (43) additional periods (collectively, the "Extended Terms") as follows: four three (43) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March December 31, 20282023. The Lessee's extension option rights options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

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Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for four three (43) additional periods (collectively, the "Extended Terms") as follows: four three (43) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31April 30, 20282025. The Lessee's extension option rights options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Group Two Acquisition Facility Leases (as defined in the Agreement Regarding Related Leases Lease Transactions) in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Group Two Acquisition Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for four three (43) additional periods (collectively, the "Extended Terms") as follows: four three (43) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31November __, 20282022. The Lessee's extension option rights options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Group One Acquisition Facility Leases (as defined in the Agreement Regarding Related Leases Lease Transactions) in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Group One Acquisition Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for four (4) additional periods (collectively, the "Extended Terms") as follows: four (4) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31, 20282030. Lessee's extension option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. (a) Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for four two (42) additional periods (collectively, the "Extended Terms") as follows: four two (42) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on March 31February 28, 20282022. The Lessee's extension option rights options shall be exercised by the Lessee by giving written notice to the Lessor of each such extension (each, an "Extension Notice") at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Except as specifically set forth in subsection (b) below, the Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Transactions and the provisions of Section 1.3 of each of the Related Leases3.1.1.

Appears in 1 contract

Samples: 12 Facility Lease Agreement (Arv Assisted Living Inc)

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