Common use of Extension Term Clause in Contracts

Extension Term. Tenant shall have the option to extend the term of this Lease for 3 periods of 5 years each (each such period defined as a “Renewal Period”), on the same terms and conditions (except for Annual Fixed Rental, which shall be subject to adjustment as provided on Schedule “B” annexed hereto) as herein contained. Tenant may exercise each of the 5 year option periods by giving written notice to Landlord not less than 180 days prior to the expiration date of the Initial Term or the Renewal Term, as the case may be.

Extension Term. The term of the Lease may be extended, at Tenant’s option, for up to an additional fifteen (15) years in the form of three (3) five-year options (the “Extension Term”), all or any of which Tenant shall have the option may exercise by providing Landlord with written notice of Tenant’s intention to extend the lease term of this Lease for 3 periods of 5 years each (each such period defined as a “Renewal Period”), on the same terms and conditions (except for Annual Fixed Rental, which shall be subject to adjustment as provided on Schedule “B” annexed hereto) as herein contained. Tenant may exercise each of the 5 year option periods by giving written notice to Landlord not no less than 180 sixty (60) days prior to the before expiration date of the Initial Term or the Renewal any Extension Term, as the case may be.

Extension Term. Tenant shall have the one (1) three (3) year option to extend the term of this the Lease for 3 periods of 5 years each as amended hereby (each such period defined as a the “Renewal PeriodExtension Term”), on the same terms and conditions (except for Annual Fixed Rental, which shall be subject to adjustment as provided on Schedule “B” annexed hereto) as herein contained. Tenant may exercise each of the 5 year option periods by giving exercisable upon written notice to Landlord provided not less later than 180 days prior twelve (12) months before the Termination Date. Yearly Rent payable during the Extension Term shall be equal to the expiration date Fair Market Rental Value as determined pursuant to Section 29.16 of the Initial Term or the Renewal Term, as the case may beLease.