Common use of Option Years Clause in Contracts

Option Years. Provided Lessee is and remains in full compliance with the terms and conditions of this Agreement, Lessee shall have the option to extend the Extension Term for two (2) additional consecutive one (1) year terms, referred to herein, respectively, as the “First Option Year” and the “Second Option Year.” The term of this Agreement shall automatically extend for the First Option Year unless Lessee provides written notice to the Port at least one hundred thirty five (135) days prior to expiration of the Extension Term that Lessee declines the First Option Year, in which event the term of this Agreement shall expire upon expiration of the Extension Term. The term of this Agreement shall automatically extend for the Second Option Year unless Lessee provides written notice to the Port at least one hundred thirty five (135) days prior to expiration of the First Option Term that Lessee declines the Second Option Year, in which event the term of this Agreement shall expire upon expiration of First Option Year. The First Option Year and the Second Option Year are from time to time referred to herein each as an “Option Year” and, collectively, as the “Option Years.”

Option Years. Provided Lessee is and remains in full compliance with the terms and conditions of this Agreement, Lessee shall have the option to extend the Extension Term for two (2) additional consecutive one (1) year terms, referred to herein, respectively, as the “First Option Year” and the “Second Option Year.” The term of this Agreement shall automatically extend for the First Option Year unless Lessee ▇▇▇▇▇▇ provides written notice to the Port at least one hundred thirty five fifty (135150) days prior to expiration of the Extension Term that Lessee declines the First Option Year, in which event the term of this Agreement shall expire upon expiration of the Extension Term. The term of this Agreement shall automatically extend for the Second Option Year unless Lessee ▇▇▇▇▇▇ provides written notice to the Port at least one hundred thirty five fifty (135150) days prior to expiration of the First Option Term that Lessee declines the Second Option Year, in which event the term of this Agreement shall expire upon expiration of First Option Year. The First Option Year and the Second Option Year are from time to time referred to herein each as an “Option Year” and, collectively, as the “Option Years.”

Option Years. Provided Lessee is and remains in full compliance with the terms and conditions of this Agreement, Lessee shall have the option to extend the Extension Term for two (2) additional consecutive one (1) year terms, referred to herein, respectively, as the “First Option Year” and the “Second Option Year.” The term of this Agreement shall automatically extend for the First Option Year unless Lessee provides written notice to the Port at least one hundred thirty five twenty (135120) days prior to expiration of the Extension Term that Lessee declines the First Option Year, in which event the term of this Agreement shall expire upon expiration of the Extension Term. The term of this Agreement shall automatically extend for the Second Option Year unless Lessee provides written notice to the Port at least one hundred thirty five twenty (135120) days prior to expiration of the First Option Term that Lessee declines the Second Option Year, in which event the term of this Agreement shall expire upon expiration of First Option Year. The First Option Year and the Second Option Year are from time to time referred to herein each as an “Option Year” and, collectively, as the “Option Years.”