Common use of Extension Options Clause in Contracts

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.

Appears in 4 contracts

Samples: Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc), Lease (Golf Trust of America Inc)

AutoNDA by SimpleDocs

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six five (65) 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.

Appears in 3 contracts

Samples: Lease (Golf Trust of America Inc), Contribution and Leaseback Agreement (Golf Trust of America Inc), Golf Trust of America Inc

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six four (64) 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.

Appears in 2 contracts

Samples: Lease (Golf Trust of America Inc), Golf Trust of America Inc

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease (or any permitted assignee) 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 remain in full force and effect, as the same may be amended, supplemented or modified.

Appears in 2 contracts

Samples: Lease (Golf Trust of America Inc), Pledge Agreement (Golf Trust of America Inc)

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six four (64) consecutive times for a period of five (5) years each (each such extension, an "Extended Term"). Tenant may exercise its Tenant's option for an Extended Term solely by giving shall be deemed to have been exercised, unless Tenant gives written notice to Landlord at least one hundred eighty (180) days prior to the termination of the then-current term that Tenant elects not to extend the 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.

Appears in 1 contract

Samples: Secondary Collateral Pledge Agreement (Golf Trust of America Inc)

AutoNDA by SimpleDocs

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six two (62) 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 existexist beyond any applicable cure period. During the each 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.

Appears in 1 contract

Samples: Lease (Golf Trust of America Inc)

Extension Options. Landlord grants Tenant the right to extend the Initial Term of this Lease six two (62) 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 each 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.

Appears in 1 contract

Samples: Lease (Golf Trust of America Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.