First Extended Term. The annual Base Rent for the First Extended Term, shall be an amount equal to the greater of (1) the Market Rent for the Premises for the First Extended Term and (2) the product of (A) the annual Base Rent in effect on the last day of the Term and (B) the greater of (x) 1.03 and (y) the lesser of (aa) 1.06 and (bb) the average annual percentage increase, if any, in the CPI between August 2014 and the month preceding the commencement of the First Extended Term.
First Extended Term. Landlord and Tenant acknowledge that Txxxxx has exercised its right to extend the Term for the first Extended Term and that the first Extended Term commenced on April 12, 2006.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Novartis in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, Novartis may extend the term of this Agreement from the end of the Initial Term until the fourth (4th) anniversary of the Effective Date, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.2 hereof at any time prior to the expiration of the Initial Term. Portions of this Exhibit, indicated by the xxxx “[***],” were omitted and have been filed separately with the Securities and Exchange Commission pursuant to the Registrant’s application requesting confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.
First Extended Term. All references to “November 18, 2008” as the First Extended Term in the Loan Documents shall be deleted and replaced with the following date: “June 30, 2010”.
First Extended Term. Subject to the provisions of paragraph 49.3, Lessee shall have the option to extend the term of this Lease beyond the term specified in paragraph 3.1 (herein referred to as the "Initial Term") for an additional period of five years commencing on the date following the expiration of the Initial Term (herein referred to as the "First Extended Term") by giving notice to Lessor of its election so to extend such term on or prior to March 1, 1997.
First Extended Term. The currently scheduled “Termination Date” of the Lease, as extended pursuant to the First Amendment, is February 15, 2004. The parties now desire to further extend the Term of the Lease, subject to the terms and conditions set forth in the Lease and this Third Amendment, effective as of January 1, 2004, which date precedes the currently scheduled Termination Date by approximately one and one-half months. As such, Paragraph 3 of the First Amendment is hereby amended by advancing the “Termination Date” set forth therein from “February 15, 2004” to “December 31, 2003”.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Novartis in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, Novartis may extend the term of this Agreement from the end of the Initial Term until the fourth (4th) anniversary of the Effective Date, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.2 hereof at any time prior to the expiration of the Initial Term.
First Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the Initial Term, then Lilly may extend the term of this Agreement from the end of the Initial Term until June 19, 2015, subject to earlier termination in accordance with Section 8.2 hereof (the “First Extended Term”), by providing written notice and by paying the Extension Fee in accordance with Section 5.1 hereof at any time prior to the expiration of the Initial Term.
First Extended Term. Tenant shall have the option to extend the term of this Lease for a thirty-six (36) month extended term (the "First Extended Term"), the First Extended Term to begin on the day after the end of the primary term of the Lease. To effectively exercise Tenant's First Extended Term option, Tenant must provide the Landlord with written notice of Tenant's intention to extend and the written notice must be received by the Landlord no later than six (6) months prior to the end of the primary term of this Lease. If Landlord does not receive Tenant's written notice of Tenant's intention to extend the term prior to the six (6) month deadline, Tenant shall not be entitled to exercise the First Extended Term option.
First Extended Term. Provided that the aggregate Minimum Net Sales (as hereinafter defined) required to be achieved for the first three (3) Contract Years of the Initial Term ending January 31, 2001 are met, and as of the last day of the Initial Term, Licensee is not in default under this Agreement nor has there occurred any event that, with the passage of time or the giving of notice, or both, would constitute a default under this Agreement by Licensee, the term of this Agreement may be extended by Licensee for the period (the "First Extended Term") beginning on February 1, 2002 and ending on January 31, 2006, unless sooner terminated in accordance with this Agreement, provided notice of such extension is given in writing to Licensor at least six (6) months prior to the end of the Initial Term. The amount of Minimum Net Sales (as hereinafter defined) to be achieved by Licensee during the First Extended Term is set forth in Paragraph 4.2.
