Common use of Option to Extend Lease Term Clause in Contracts

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 five (5) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Commencement Date Agreement (Dialysis Corp of America)

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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 five three (53) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Agreement of Lease (Convera Corp)

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 two (12) additional period periods of five (5) years each (the "“First Renewal Term"”, the “Second Renewal Term” or collectively the “Renewal Terms”) to commence immediately upon the expiration of the Initial Term or the First Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Osiris Therapeutics, Inc.)

Option to Extend Lease Term. Provided Tenant is not in default of any material term, covenant or condition of this LeaseLease after the expiration of any applicable notice and/or cure period, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of five (5) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Agreement of Lease (Integral Systems Inc /Md/)

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Option to Extend Lease Term. Provided So long as Tenant is not in default of any termunder this Lease and has not on more than one prior occasion been in default, covenant or condition of this Leasewhich default has been cured, Tenant shall have the an option to extend the Initial Lease Term (“Option to Extend”) for a period of three (3) years for Lease Years 4 through 6 in accordance with the terms of this Section 2.3 (“Option Term”). The Option to Extend the Lease for one (1) additional period of five (5) years (Term is personal to the "Renewal Term") to commence immediately upon the expiration of the Initial TermTenant and is not transferable or exercisable by any transferee.

Appears in 1 contract

Samples: Subordination, Nondisturbance and Attornment Agreement (NightHawk Radiology Holdings Inc)

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this LeaseLease beyond any applicable notice and cure period, Tenant shall have the option to extend the Initial Term of this Lease for one the entire Premises for three (13) additional period periods of five (5) years each (the "Renewal Term") to commence immediately upon the expiration of the Initial Term, the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Titan Corp)

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