Option to Extend Lease Term. Landlord hereby grants to Tenant one option to extend the Lease Term of the 000 Xxxx Xxxxx Lease for a five (5) year term commencing when the prior term expires, under the following terms and conditions:
Option to Extend Lease Term. At the expiration of the original Lease Term, Tenant may extend this Lease as to the entire Premises or a portion of the Premises for two (2) extended terms of five (5) years each (each an “Extended Term”) by giving Landlord written notice (the “Option Notice”) of its intention to do so not later than twelve (12) months prior to the expiration of the original Lease Term, and thereafter twelve (12) months prior to the expiration of the applicable Extended Term; provided, however, that Tenant is not in material default beyond any applicable notice and cure period under the Lease on the date of giving such notice or on the date of commencement of such Extended Term. The Option Notice shall set forth Tenant’s election to extend the Lease for all or a portion of the Premises. If Tenant elects to extend the Lease for only a portion of the Premises, the portion of the Premises for which Tenant elects not to extend the Lease shall be: (i) either located entirely on one floor of the Premises or located on one entire floor and a portion of the other floor; (ii) a minimum of 15,000 RSF; (iii) adjacent to a window line and easily accessible; and (iv) shall be in a readily marketable and leasable location. Landlord shall be responsible for any and all costs to separate the portion of the Premises for which Tenant elects not to extend the Lease from the remainder of the Premises such that the space is a separate easily accessible and readily marketable space promptly following the commencement of the applicable Extended Term. Any termination of the entire Lease shall result in automatic termination of this option. Tenant’s right to extend the Lease Term provided herein is personal to Tenant and may not be assigned or otherwise transferred except in connection with a permitted assignment of this Lease, including to a Tenant’s Affiliate. The Extended Term shall be upon all of the terms and conditions of this Lease, except that the following rights of Tenant during the original Lease Term shall not apply during such Extended Term unless granted as part of the Fair Market Rental: (a) any right to rent-free possession; (b) any right to further extension of the Lease Term beyond the Extended Terms set forth herein above; (c) any right to continue to pay the same Base Rent; (d) any right to additional Tenant Allowance; (e) any right to terminate the Extended Term early; (f) any right to continue to exclude HVAC Capital Expenditures; (g) cost of security for the Building; and (...
Option to Extend Lease Term. (a) Tenant is granted an option (the “Extension Option”) to extend the Lease Term for five (5) years, to and including March 31, 2027. The period of time shall be referred to herein as the “Option Period”. To exercise the Extension Option, Tenant must give Landlord unequivocal written notice of Tenant’s election to exercise the Extension Option at least ten (10) calendar months (but not earlier than twelve (12) calendar months) prior to the Expiration Date.
Option to Extend Lease Term. So long as this Lease is in effect, Tenant shall have the option (each such option, an "Option to Extend") to extend the term of the within Lease for two (2) terms of five (5) years each (each an "Extension Term"), commencing on the expiration date of the original Term of the Lease, said option terms to be on the same terms and conditions as the within Lease except that (i) the Lease shall contain no further options to extend and (ii) the Annual Fixed Rent during said Extension Terms shall be determined as set forth in Section 10.15.1 below. Each Option to Extend shall be exercised by the earlier of (x) a notice from Tenant to Landlord given at least nine (9) months before the end of the then-expiring Term, time being of the essence. Subject to the provisions set forth below in the next sentence of this Section 10.15 and the provisions of Section 10.15.1 (g) hereof, upon the delivery of any such notice of exercise of any Option to Extend, the Term of this Lease shall be irrevocably extended for the applicable Extension Term. If (i) Tenant does not timely exercise any Option to Extend, or (ii) at the time of Tenant's notice of exercise of any Option to Extend or at the time of commencement of any Extension Term, an Event of Default shall exist and be continuing, at Landlord's option, Xxxxxx's Option to Extend the Term shall irrevocably lapse, Tenant shall have no further right to extend the Term, and this Lease shall expire at the end of the then-current Term. All references to the Term shall mean the initial Term as it may be extended by any Extension Term.
Option to Extend Lease Term. Landlord hereby grants to Tenant a single option to extend the Lease Term for either or both the Existing Premises and the New Premises, for one further term which is three (3) years in length, commencing on November 1, 2012 and continuing through October 31, 2015 (the “Extended Term”), under the following terms and conditions:
Option to Extend Lease Term. Landlord and Tenant acknowledge and agree that Tenant shall continue to have one (1) option to extend the Lease Term for a period of five (5) years in accordance with, and pursuant to the terms of, Section 2.2 of the Office Lease.
Option to Extend Lease Term. (a) Lessee is hereby granted and shall, if not then in default under this Lease, have an option to extend the term of this Lease for an additional twelve (12) months (the “Extended Term”) on the same terms, covenants, and conditions contained in this Lease, except that the rent to be paid by Lessee to Lessor shall be as identified in paragraph 3.2.
Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of three (3) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.
Option to Extend Lease Term. Landlord and Tenant acknowledge and agree that notwithstanding the extension of the Lease for the Extended Term provided herein, Tenant shall continue to have one (1) option to extend the Lease Term for a period of three (3) years in accordance with, and pursuant to the terms of, Section 2.2 of the Lease, provided that references therein to the expiration of the Lease Term shall be deemed to refer to the expiration of the Extended Term.
Option to Extend Lease Term. Provided that Lessee is not in default with respect to any term or condition of this Lease, Lessee shall have the option to extend the Lease for two (2) additional five (5)-year terms, provided notice in writing shall be given to Lessor at least one hundred eighty (180) days prior to the end of the initial term of the Lease or any extended term thereof. The rental for the extension period shall be as provided below.
