Common use of Option to Remarket Clause in Contracts

Option to Remarket. The Lessee's effective exercise and consummation of the Remarketing Option shall be subject to the due and timely fulfillment of each of the following provisions as to the Property as of the dates set forth below. (a) Not later than one hundred eighty (180) days prior to the Expiration Date, the Lessee shall give to the Lessor written notice of the Lessee's exercise of the Remarketing Option, which exercise shall be irrevocable. If Lessee does not deliver a notice of its intention not to renew this Lease as provided in Section 23.1 and fails to timely provide the Remarketing Notice, then this Lease shall be renewed for a Renewal Term as provided in Section 23.