Common use of Extension Rights Clause in Contracts

Extension Rights. Tenant shall have 1 right (an “Extension Right”) to extend the term of this Lease for 3 years (an “Extension Term”) on the same terms and conditions as this Lease (other than with respect to Base Rent and the Work Letter) by giving Landlord written notice of its election to exercise the Extension Right at least 9 months prior, and no earlier than 12 months prior, to the expiration of the Base Term of the Lease. Upon the commencement of the Extension Term, Base Rent shall be payable at the Market Rate (as defined below). Base Rent shall thereafter be adjusted on each annual anniversary of the commencement of such Extension Term by a percentage as determined by Landlord and agreed to by Tenant at the time the

Extension Rights. Tenant shall have 1 right 2 consecutive rights (each, an “Extension Right”) to extend the term of this the Lease for 3 2 years each (each, an “Extension Term”) on the same terms and conditions as this the Lease (other than with respect to Base Rent Rent, the Work Letter and the Second Expansion Premises Work Letter) by giving Landlord written notice of its election to exercise the each Extension Right at least 9 months prior, and no earlier than 12 months prior, prior to the expiration of the Base Term of the Lease. Upon Lease or the commencement expiration of the first Extension Term, . Base Rent shall be payable at adjusted on the Market Rate (as defined below). Base Rent shall thereafter be adjusted commencement date of such Extension Term and on each annual anniversary of the commencement of such Extension Term by a percentage as determined multiplying the Base Rent payable immediately before such adjustment by Landlord the Rent Adjustment Percentage and agreed adding the resulting amount to by Tenant at the time theBase Rent payable immediately before such adjustment.