Extension Options. (a) Borrower shall have two (2) options (each, an “Extension Option”) to extend the Maturity Date of the Loan for consecutive one (1) year periods (each, an “Extension Period”). In order to exercise the first such extension right, Borrower shall deliver to Lender a written notice (which may be revocable) of such extension no earlier than ninety (90) days and no later than thirty (30) days before the Initial Maturity Date (provided that if Borrower shall subsequently revoke such notice, then Borrower shall be responsible for Lender’s out of pocket costs and expenses in connection with such revocation, including, without limitation, Breakage Costs), and, upon giving of such notice of extension, and subject to the satisfaction of each of the applicable conditions set forth below in Section 2.3.6(b) on or before the applicable date specified below, the Initial Maturity Date as theretofore in effect will be extended to the First Extended Maturity Date. In order to exercise the second such extension right, Borrower shall deliver to Lender a written notice (which may be revocable) of such extension no earlier than ninety (90) days and no later than thirty (30) days before the First Extended Maturity Date (provided that if Borrower shall subsequently revoke such notice, then Borrower shall be responsible for Lender’s out of pocket costs and expenses in connection with such revocation, including, without limitation, Breakage Costs) and, upon the giving of such notice of extension, and subject to the satisfaction of each of the applicable conditions set forth below in Section 2.3.6(b) on or before the applicable date specified below, the Maturity Date as theretofore in effect will be extended to the Second Extended Maturity Date.
Extension Options. Landlord hereby grants to Tenant four (4) consecutive options to extend the Term of this Lease for not less than all of the Premises then being leased by Tenant, other than the Temporary Suites (as defined in Section 1 of the Addendum) and the Second Floor Space (as defined in Section 3 of the Addendum) (each, an “Extension Option”), each for a period of six (6) months (each, an “Option Term”). Except as otherwise provided herein, each such extension shall be on the same terms, conditions and provisions as contained in this Lease (including escalation of the Base Rent by 3% per annum). Except as provided in this Section 1.3, Tenant shall have no other rights to extend the Term. If Tenant wishes to exercise an Extension Option, Tenant shall, on or before the date occurring 12 months prior to the expiration of the Term or the applicable Option Term, as applicable, irrevocably exercise the Extension Option by delivering Notice (each, an “Exercise Notice”) thereof to Landlord. If Tenant fails to timely deliver an Exercise Notice, the Extension Option (and any remaining Extension Options) shall thereupon expire automatically. Tenant’s right to exercise the Extension Options is personal to, and may be exercised only by Point.360, a California corporation (the “Original Tenant”) or any Transferee to whom Original Tenant’s entire interest in this Lease or the Premises has been transferred in a Permitted Transfer. Notwithstanding anything in this Section 1.3 to the contrary, if an Event of Default has occurred at the time the Exercise Notice is received by Landlord or at any time thereafter until the commencement date of the applicable Option Term, then Landlord shall have the right, in addition to all of its other rights and remedies under this Lease, to unilaterally revoke Tenant’s exercise of the Extension Option, in which case Tenant shall have no further rights under this Lease to renew or extend the Term and this Lease shall expire on the Termination Date.
Extension Options. Subject to the provisions of this Section 5, Mezzanine Borrower shall have the option (the First Extension Option), by irrevocable written notice (the First Extension Notice) delivered to Mezzanine Lender no later than thirty (30) days prior to the Initial Maturity Date, to extend the Maturity Date to November 11, 2010 (the First Extended Maturity Date). In the event Mezzanine Borrower shall have exercised the First Extension Option, Mezzanine Borrower shall have the option (the Second Extension Option), by irrevocable written notice (the Second Extension Notice) delivered to Mezzanine Lender no later than thirty (30) days prior to the First Extended Maturity Date, to extend the First Extended Maturity Date to November 10, 2011 (the Second Extended Maturity Date). In the event Mezzanine Borrower shall have exercised the Second Extension Option, Mezzanine Borrower shall have the option (the Third Extension Option), by irrevocable written notice (the Third Extension Notice) delivered to Mezzanine Lender no later than thirty (30) days prior to the Second Extended Maturity Date, to extend the Second Extended Maturity Date to November 12, 2012 (the Third Extended Maturity Date). Mezzanine Borrower's right to so extend the Maturity Date shall be subject to the satisfaction of the following conditions precedent prior to each extension hereunder:
Extension Options. Four (4) extensions of five (5) years each, as described in Section 3.02.
Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six (6) consecutive times for a period of five (5) years each (each such extension, an "Extended Term"). Tenant may exercise its option for an Extended Term solely by giving written notice at least one hundred eighty (180) days prior to the termination of the then-current term. Tenant shall be entitled to exercise these options only if at the time of the giving of such notice, Tenant is then the lessee of the Property pursuant to this Lease, and at the time of the commencement of the applicable Term or Extended Term no Event of Default shall then exist. During the Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, as the same may be amended, supplemented or modified.
Extension Options. (i) The Borrower may, by written notice to the Administrative Agent (such notice, an “Initial Extension Notice”) not earlier than 60 days prior and not later than 30 days prior to the Initial Revolving Termination Date, elect to extend the Initial Revolving Termination Date for an additional twelve (12) months, subject to the terms of this Section 2.22(b). The Administrative Agent shall distribute any such Extension Notice promptly to the Lenders following its receipt thereof. As conditions precedent to such extension, the Borrowers shall, on or prior to the Initial Revolving Termination Date, satisfy each of the following requirements for such extension to become effective:
Extension Options. Subject to the provisions of this Section 5, Borrower shall have (i) the option (the FIRST EXTENSION OPTION), by irrevocable written notice (an EXTENSION NOTICE) delivered to Lender no later thirty (30) days prior to the Initial Maturity Date, to extend the Initial Maturity Date to November 9, 2005 (the FIRST EXTENDED MATURITY DATE), (ii) the option (the SECOND EXTENSION OPTION), by delivering to Lender an Extension Notice no later than thirty (30) days prior to the First Extended Maturity Date, to extend the First Extended Maturity Date to November 9, 2006 (the SECOND EXTENDED MATURITY DATE), and (iii) the option (the THIRD EXTENSION OPTION), by delivering to Lender and Extension Notice no later than thirty (30) days prior to the Second Extended Maturity Date, to extend the Second Extended Maturity Date to November 9, 2007 (the THIRD EXTENDED MATURITY DATE). Borrower's right to so extend the Maturity Date shall be subject to the satisfaction of the following conditions precedent as of the delivery of the applicable Extension Notice and as of the Initial Maturity Date, the First Extended Maturity Date or the Second Extended Maturity Date, as the case may be, prior to such extension hereunder:
Extension Options. Tenant shall have the option to extend the term of this Lease for one (_1_) period(s) of five (_5_) years, following each term hereof (the “Extended Term”), upon the condition that there is no default in the performance of any condition of this Lease for which a notice of default has been given to Tenant. However, in the case of any default which cannot with due diligence be cured prior to the last date on which Tenant is entitled to exercise the option, if Tenant shall have proceeded promptly after the service of the notice of default with due diligence to cure the default, Tenant may, nevertheless, exercise the option and shall be entitled to any such Extended Term. The Extended Term shall be upon the same conditions as provided in this Lease.
Extension Options. Two (2) extensions of ten (10) years each, as described in Section 3.02.
Extension Options. Tenant shall have the option to extend the Term of the Agreement for ( ) additional periods of ( ) years each.
