Common use of First Extension Term Clause in Contracts

First Extension Term. Subject to the terms and conditions of this Section 10, Sublessee shall have the right to extend the Initial Term of this Sublease for a one (1) year period from the Expiration Date through May 31, 2007 (the "First Extension Term"). The First Extension Term, together with the Initial Term shall be referred to as the "Term" if: (i) Sublessor receives notice of exercise ("Renewal Notice") not later than the date that is nine (9) months prior to the Expiration Date; (ii) Sublessee is not in default under this Sublease beyond any applicable cure periods at the time that Sublessee delivers its Renewal Notice and at the commencement of the First Extension Term; and (iii) This Sublease has not been assigned by Sublessee and not more than seventy-five percent (75%) of the Premises has been further sublet by Sublessee prior to the date upon which Sublessee delivers its Renewal Notice. Base Rent for the First Extension Term shall be One Hundred Fifty-Four Thousand Two Hundred Five and Sixty-Three One-Hundredths Dollars ($154,205.63) per month, and shall be payable in addition to Additional Rent. Base Rent and Additional Rent for the First Extension Term shall be payable on the same terms as such items are payable under this Sublease during the Initial Term. Promptly after Sublessee provides the Renewal Notice, the parties shall enter into an amendment to this Sublease to extend the Expiration Date to May 31, 2007 and set forth the Base Rent as provided in this Section 10(a).

First Extension Term. Subject to the terms and conditions of this Section 10, Sublessee shall have the right to extend the Initial Term of this Sublease for a one (1) year period from the Expiration Date through May 31, 2007 (the "First Extension Term"). The First Extension Term, together with the Initial Term shall be referred to as the "Term" if: (i) Sublessor receives notice of exercise ("Renewal Notice") not later than the date that is nine (9) months prior to the Expiration Date; (ii) Sublessee is not in default under this Sublease beyond any applicable cure periods at the time that Sublessee delivers its Renewal Notice and at the commencement of the First Extension Term; and (iii) This Sublease has not been assigned by Sublessee and not more than seventy-five percent (75%) of the Premises has been further sublet by Sublessee prior to the date upon which Sublessee delivers its Renewal Notice. Base Rent for the First Extension Term shall be One Hundred Fifty-Four Thousand Two Hundred Five and Sixty-Three One-Hundredths Dollars [*] ($154,205.63[*]) per month, and shall be payable in addition to Additional Rent. Base Rent and Additional Rent for the First Extension Term shall be payable on the same terms as such items are payable under this Sublease during the Initial Term. Promptly after Sublessee provides the Renewal Notice, the parties shall enter into an amendment to this Sublease to extend the Expiration Date to May 31, 2007 and set forth the Base Rent as provided in this Section 10(a).