Common use of Option to Extend Lease Term Clause in Contracts

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.

Appears in 2 contracts

Samples: Unit Purchase Agreement (Argyle Security, Inc.), Lease Agreement (Argyle Security, Inc.)

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Option to Extend Lease Term. Provided that The Lessee is not may request the Lessor in default with respect writing no later than 120 days before the expiration of the lease to any extend the lease. The Lessor may at its absolute discretion extend the term or condition of this Lease, lease for a further period of up to 2 YEARS after having regard to the performance and observance of the Lessee shall have in regard to this lease and the option availability of suitable alternative sites. Should the Lessor be willing to extend the Lease for two (2) additional five (5)-year terms, provided notice Term in writing shall accordance with this clause then before doing so the rental payable will 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 belowreviewed in accordance with clause 4.

Appears in 1 contract

Samples: Shire of Denmark

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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 one (1) option to extend the term of this Lease for two a period of five (25) additional five (5)-year terms, provided notice in writing shall be given to years. Lessee must give Lessor at least one hundred eighty six (1806) days months prior written notice of their desire to exercise such option. The Base Rent during the end of extended term shall be at the initial term then market rents for comparable space in the building. This option shall not apply should Lessee be in default of the Lease or any extended term thereof. The rental for if the extension period shall be as provided belowpremises has been assigned or subleased.

Appears in 1 contract

Samples: Office Lease Standard Agreement (Gymboree Corp)

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