Common use of Options to Extend Term Clause in Contracts

Options to Extend Term. Tenant shall have two (2) options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each (each an “Extension Period“), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Tenant shall have two (2) options (each an “"Extension Option“") to extend the Term of this Lease for a period of five (5) years each (each an “"Extension Period“"), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two the greater of 75% of the U.S. Consumer Price Index ("CPI") or three and one-half quarter percent (2.53.25%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “"Extension Notice“") not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s 's right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant shall have the right to extend the term of this Lease (the "Extension Option") for one (1) additional term of ten (10) years followed by two (2) options (each an “Extension Option“) to extend the Term of this Lease for a period additional successive terms of five (5) years each by giving Landlord written notice of its intention so to do in each instance at least one (each an “Extension Period“), on 1) year (but not more than two years) prior to the expiration of the then-current term. The term as so extended shall be upon the same terms and conditions as set forth in effect under this Lease immediately prior to the commencement of the Extension PeriodLease, except that (a) the Fixed Rent during the extended term shall be determined in the manner provided in Paragraph 3.2, below. Should Tenant in any instance fail to give timely written notice of its intention to exercise its option to extend the term, Tenant shall be deemed to have no further elected not to exercise its said right to extend the Term term, and this Lease shall expire in accordance with its terms. Time is of the essence with respect to the requirement that Tenant give timely notice of its election to exercise its right to extend the term, and Tenant's failure timely to exercise any option shall constitute a material, irredeemable and incurable failure to satisfy a condition precedent to the vesting of such right, and Tenant hereby expressly waives any right to claim relief from forfeiture, or any other equitable relief, from the consequences of any untimely exercise of its right to extend the term of this Lease. The implied covenant of good faith and fair dealing under this Lease after shall not be construed to impose upon Landlord any obligation to notify Tenant in advance of the second Extension Periodimpending deadline for the exercise of any option, (b) nor shall it obligate Landlord to excuse the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior tardy exercise of any option, however slight. Notwithstanding anything to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoingcontrary set forth above, Tenant shall not have the right to exercise an Extension Option any option to extend the term of this Lease (ai) during the time commencing from the date Landlord delivers to gives Tenant a written notice that Tenant is in default under any provisions material provision of this Lease and continuing until the default described in said notice is cured, (ii) during the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant has cured and unpaid and continuing until the specified default; obligation is paid, or (biii) at as to the second and third Extension Options, if the prior options were not timely exercised. The period of time within which any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord option may be exercised shall not be required extended or enlarged by reason of Tenant's inability to provide Tenant with notice of exercise such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately option prior to satisfaction of the date that foregoing conditions precedent. The Extension Option may not be exercised or assigned involuntarily by or to any person or entity other than Tenant intends to exercise an Extension Optionexcept as provided in Article 17, and such defaults were not cured within the applicable cure period. If Tenant nor shall fail to timely exercise the Extension Option in accordance with the provisions of be assignable apart from this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2Lease.

Options to Extend Term. Tenant shall have two (2) options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each (each an “Extension Period“), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two and one-half three percent (2.53.0%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Tenant shall have two (2) options (each an “Extension Option“) to extend the Term term of this Lease Lease, each for a period of five (5) years each year period (each an “Extension "Option Period“"), on provided (a) Tenant shall give notice to Landlord of its exercise of an option not less than nine (9) months prior to the same terms and conditions expiration of the Lease Term or the first Option Period, as the case may be, (b) no default beyond any applicable grace period in effect the obligations of Tenant under this Lease immediately prior to shall exist at the commencement time such notice is given and (c) Tenant shall not have been in default under this Lease beyond any applicable grace period on more than two (2) occasions during the entire preceding Lease Term. All of the Extension Period, terms and provisions of this Lease shall be applicable during each Option Period except that (a) Tenant shall have no further right option to extend the Term term of this Lease after beyond the second Extension Period, Option Period and (b) the Base Rent payable during the Extension for each Option Period shall be an amount equal to the greater of (i) the Base Rent in effect immediately prior to for the Extension last year of the Lease Term or the first Option Period, increased by two as the case may be, or (iii) Market Rent, as defined below, as of the first day of such Option Period. "Market Rent" shall be computed as of the applicable date at the then current rentals being charged to new tenants for comparable space located in comparable buildings, taking into account and one-half percent giving effect to, in determining comparability, without limitation, such considerations as size, location and condition of premises and lease term. Landlord shall designate Market Rent for the next Option Period within thirty (2.5%30) on an annual basisdays after Tenant's written request, therefor (such request to be made no earlier than one (1) year before such Option Period). If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to previously designated Market Rent, after Tenant shall exercise an Extension option to extend for an Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2Period, Landlord shall not be required to provide Tenant with notice initially designate Market Rent and shall furnish data in support of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure perioddesignation. If Tenant shall have exercised its option to extend for the Option Period but shall disagree with Landlord's designation of the Market Rent, then Tenant shall have the right, by notice given within fourteen (14) days after Tenant's receipt of Landlord's designation, to submit such Market Rent to arbitration as follows. Market Rent shall be determined by arbitrators, one chosen by Tenant, one chosen by Landlord and a third selected, if necessary, as below provided. All arbitrators selected under this Section shall be experienced real estate appraisers with substantial experience with properties in the vicinity of the Premises. If within fourteen (14) days after Tenant's notice the parties shall agree upon a single arbitrator or if one party shall fail to timely exercise select an arbitrator, the Extension Option in accordance with arbitrator selected by the provisions of this Section 3.2, then other shall be the Extension Option shall terminatesole arbitrator, and Market Rent shall be null and void and of no further force and effectdetermined by such arbitrator. If this Lease or Tenant’s right to possession The unanimous written decision of the Premises two first chosen (or the decision of the first, if a second arbitrator is not chosen) without selection and participation of a third arbitrator, or otherwise the written decision of a majority of the three arbitrators chosen and selected as provided herein, shall terminate in any manner whatsoever before be conclusive and binding upon Landlord and Tenant. Landlord and Tenant shall exercise each notify the Extension Optionother of its chosen arbitrator within fourteen (14) days following the call for arbitration, and, unless such two arbitrators shall have either reached a unanimous decision within thirty (30) days after their designation or jointly selected a third arbitrator, they shall so notify the then President of the local Real Estate Board and request him to select an impartial third arbitrator to act hereunder, or if such individual does not exist or is unavailable, then they shall apply to a court of competent jurisdiction to select an impartial third arbitrator. Such third arbitrator and the first two chosen shall hear the parties and their evidence and render their decision within thirty (30) days following the conclusion of such hearing and notify Landlord and Tenant thereof. Landlord and Tenant shall have assigned or transferred any interest in this Lease or sublet any part bear the expense of the Premises third arbitrator (except pursuant if any) equally. If the dispute between 4 the parties as to a Permitted TransferMarket Rent shall not have been resolved before the commencement of Tenant's obligation to pay rent based upon Market Rent, then Tenant shall pay rent based upon the Market Rent designated by Landlord until either the agreement of the parties as to the Market Rent or the decision of the arbitrators, as defined below)the case may be, then immediately upon such termination, assignment, transfer at which time Tenant shall pay any underpayment of rent to Landlord or sublease, the Extension Option Landlord shall simultaneously terminate and become null and void. Time is refund any overpayment of the essence with regard rent to this Section 3.2Tenant.

Options to Extend Term. Tenant shall have two (2) options (each an “"Extension Option“") to extend the Term of this Lease for a period of five (5) years each (each an “"Extension Period“"), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two three and one-half quarter percent (2.53.25%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “"Extension Notice“") not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s 's right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Tenant shall have two (2) options (each an “Extension Option“) to extend the Term of this Lease for a period of five (5) years each (each an “Extension Period“), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by two three and one-half percent (2.53.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Landlord hereby grants to Tenant shall have two (2) options (each an “Extension Option“) to extend the Term term of this Lease (each a “Renewal Option”), each option being for a period of five (5) additional years each (each an a “Extension Period“)Renewal Term”) and each option being conditioned upon the terms set forth in this Section 4.1. Each Renewal Option is exercisable only upon strict compliance with the terms set forth herein. If there is a default by the Tenant prior to the start of the Renewal Term which default is not cured within the applicable notice and cure period, the Renewal Option may be terminated by the Landlord at Landlord’s option upon five (5) business days notice to the Tenant in which event the Renewal Option and all subsequent Options shall be void ab initio. The Option may be exercised only by written notice delivered by Tenant to Landlord no later than 12 months prior to the expiration of the then current term, TIME IS OF THE ESSENCE. No Renewal Option may not be exercised more than eighteen (18) months prior to the end of the then current Term. The exercise of a Renewal Option is valid only if it is delivered on time and is unconditional. Tenant may only exercise its Renewal Option if, on the date of delivery of the notice to Landlord, Tenant is not in default of this Lease beyond the expiration of any applicable cure periods. If the parties do not agree on a monthly Base Rent for each month of the renewal period no later than 240 days prior to the end of the then current Term, the Renewal Option shall become void and the lease shall the terminate as of the end of the then current Term as if there had been no option exercise. The lease of the Premises for the applicable renewal shall be on the same terms and conditions contained in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (bi) the monthly Base Rent payable during the Extension Period shall be an amount equal to the monthly Base Rent in effect immediately prior as agreed between the parties for such period and (ii) the number of available renewal options shall be reduced by one. The Initial Term and all Renewal Terms (if exercised) are thereafter referred to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (collectively as the “Extension Notice“) not later than twelve (12) months prior to the commencement date of the Extension Period. Upon delivery of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and voidTerm”. Time is of the essence Essence in exercising the renewal option. Failure to exercise an option on or before the required date and in strict compliance with regard to this Section 3.2section, terminates that option and any other unexercised options.

Options to Extend Term. Landlord hereby grants to Tenant shall have two (2) options (each Individually referred to hereinafter as an “Extension "Option“" and collectively referred to hereinafter as the "Options") to extend the Term term of this Lease for a period additional consecutive terms of five (5) years each and zero (0) months (each is called an “Extension Period“"Extension"), on the same terms and conditions as set forth in effect under this Lease immediately prior to the commencement of the Extension PeriodLease, except that (a) the Basic Annual Rent shall be the amount determined as set forth below. Tenant shall have the opportunity to exercise the initial Option with respect to only four (4) contiguous floors of the Premises. The second Option shall be exercised only with respect to the Premises so leased during the first Extension. Each Option shall be exercised only by written notice delivered to Landlord at least two hundred seventy (270) days before the expiration of the initial term of this Lease or the immediately preceding Extension ("Exercise Date"), as the case may be. If Tenant fails to deliver to Landlord written notice of the exercise of the Option within the time period prescribed above, such Option and any succeeding Options shall lapse, and there shall be no further right to extend the Term term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period Lease. Each Option shall be an amount equal to Base Rent in effect immediately prior to exercisable by Tenant on the Extension Period, increased by two and one-half percent express conditions that (2.5%i) on an annual basis. If Tenant exercises an Extension at the time of the exercise of such Option, such Extension Option shall apply to the entire Premises (and no less than the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months thereafter at all times prior to the commencement date of such Extension, a Tenant's Default shall not have occurred and be continuing under this Lease, and (ii) Tenant has not been ten (10) or more days late in the payment of Rent more than a total of nine (9) times during the term of this Lease. If Tenant property exercises an Option, "term", as used herein and in this Lease, shall be deemed to include the applicable Extension, unless specified otherwise herein. The Basic Annual Rent during each Extension shall be increased, as of the commencement of each Extension Period. Upon delivery (each is called a "Rental Adjustment Date") to ninety-five percent (95%) of the Extension Notice"Fair Market Value" of the Premises, determined in the following manner: Not later than ninety (90) days prior to any applicable Exercise Date, Tenant shall be irrevocably bound give written notice to lease Landlord of its preliminary interest in the applicable Option, and thereafter Landlord and Tenant shall meet in an effort to negotiate, in good faith, the Fair Market Value of the Premises for as of the Extension Periodapplicable Rental Adjustment Date. Notwithstanding If Landlord and Tenant have not agreed upon the foregoing, Tenant shall not have Fair Market Value of the right to exercise an Extension Option Premises at least eighty (a80) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately days prior to the date that Tenant intends to exercise an Extension Optionapplicable Exercise Date, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this Section 3.2, then the Extension Option shall terminate, and Fair Market Value shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of determined by the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.following appraisal method:

Options to Extend Term. Tenant shall have two Subject to the terms of this Section 3.3, Lessor hereby grants Lessee six (26) options (each an “Extension each, a "Renewal Option“," and collectively, the "Renewal Options") to extend the Term of this Lease for a period EXHIBIT 10.27 successive periods of five ten (510) years each beyond the Expiration Date (each an “Extension Period“each, a "Renewal Term," and collectively, the "Renewal Terms"). The Renewal Options shall be personal to and may only be exercised by Lessee, any Person to whom Lessee assigns its entire right, title and interest in and to this Lease pursuant to Section 13.1 below (but specifically excluding any sublessee), on any Lender who acquires and succeeds to the same terms and conditions in effect interest of Lessee under this Lease immediately prior by virtue of any foreclosure sale, whether the foreclosure sale is conducted pursuant to court order or pursuant to a power of sale contained in a Leasehold Mortgage, or by assignment or other conveyance in lieu of foreclosure, and any transferee or other successor or assign of such Lender; provided, however, that each Specific Parcel Lease shall contain renewal options with terms identical to those set forth in this Section 3.3. The Renewal Options shall be effective only if no Material Default has occurred and is continuing (taking into account all applicable grace or cure periods) hereunder, either at the time of exercise of the respective Renewal Option or at the time of commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after respective Renewal Term. Each Renewal Option commencing with the second Extension Period, (b2nd) the Base Rent payable during the Extension Period Renewal Option shall be an amount equal to Base Rent in effect immediately effective only if Lessee has validly exercised all prior to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire PremisesRenewal Option(s). Tenant may exercise an Extension Option only The Renewal Options must be exercised, if at all, by giving Landlord irrevocable and unconditional written notice thereof (the “Extension each, an "Election Notice“") from Lessee to Lessor given not later more than twenty- four (24) months nor less than twelve (12) months prior to the commencement date then-current Expiration Date, subject to the provisions of Section 17.3. Any such Election Notice given by Lessee to Lessor shall be irrevocable. If Lessee fails to exercise a Renewal Option in a timely manner as provided for above, the Renewal Option shall be void. The Renewal Terms shall be upon the same terms and conditions as the initial Term, except that the Annual Base Rent shall be adjusted effective as of the Extension Period. Upon delivery commencement of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option first (a1st) Renewal Term and every five (5) years thereafter during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease such Renewal Term and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Defaultall subsequent Renewal Terms, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Optionany, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this procedure set forth in Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined 4.1(b) below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. Tenant shall have two Subject to the terms of this Section 3.3, Lessor hereby grants Lessee six (26) options (each an “Extension each, a "Renewal Option“," and collectively, the "Renewal Options") to extend the Term of this Lease for a period EXHIBIT 10.27 *CONFIDENTIAL TREATMENT REQUESTED. CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. successive periods of five ten (510) years each beyond the Expiration Date (each an “Extension Period“each, a "Renewal Term," and collectively, the "Renewal Terms"). The Renewal Options shall be personal to and may only be exercised by Lessee, any Person to whom Lessee assigns its entire right, title and interest in and to this Lease pursuant to Section 13.1 below (but specifically excluding any sublessee), on any Lender who acquires and succeeds to the same terms and conditions in effect interest of Lessee under this Lease immediately prior by virtue of any foreclosure sale, whether the foreclosure sale is conducted pursuant to court order or pursuant to a power of sale contained in a Leasehold Mortgage, or by assignment or other conveyance in lieu of foreclosure, and any transferee or other successor or assign of such Lender; provided, however, that each Specific Parcel Lease shall contain renewal options with terms identical to those set forth in this Section 3.3. The Renewal Options shall be effective only if no Material Default has occurred and is continuing (taking into account all applicable grace or cure periods) hereunder, either at the time of exercise of the respective Renewal Option or at the time of commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after respective Renewal Term. Each Renewal Option commencing with the second Extension Period, (b2nd) the Base Rent payable during the Extension Period Renewal Option shall be an amount equal to Base Rent in effect immediately effective only if Lessee has validly exercised all prior to the Extension Period, increased by two and one-half percent (2.5%) on an annual basis. If Tenant exercises an Extension Option, such Extension Option shall apply to the entire Premises (and no less than the entire PremisesRenewal Option(s). Tenant may exercise an Extension Option only The Renewal Options must be exercised, if at all, by giving Landlord irrevocable and unconditional written notice thereof (the “Extension each, an "Election Notice“") from Lessee to Lessor given not later more than twenty- four (24) months nor less than twelve (12) months prior to the commencement date then-current Expiration Date, subject to the provisions of Section 17.3. Any such Election Notice given by Lessee to Lessor shall be irrevocable. If Lessee fails to exercise a Renewal Option in a timely manner as provided for above, the Renewal Option shall be void. The Renewal Terms shall be upon the same terms and conditions as the initial Term, except that the Annual Base Rent shall be adjusted effective as of the Extension Period. Upon delivery commencement of the Extension Notice, Tenant shall be irrevocably bound to lease the Premises for the Extension Period. Notwithstanding the foregoing, Tenant shall not have the right to exercise an Extension Option first (a1st) Renewal Term and every five (5) years thereafter during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease such Renewal Term and continuing until Tenant has cured the specified default; (b) at any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Defaultall subsequent Renewal Terms, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Optionany, and such defaults were not cured within the applicable cure period. If Tenant shall fail to timely exercise the Extension Option in accordance with the provisions of this procedure set forth in Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined 4.1(b) below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.

Options to Extend Term. (a) Landlord hereby grants to Tenant shall have two (2) options (each an “Extension Option“”) to extend the Term of this Lease for a period an additional term (the “Option Term”) of five (5) years each (each an “Extension Period“), on upon and subject to the same terms and conditions set forth in effect under this Lease immediately Section. The Extension Options shall be exercised, if at all, consecutively by written notice given to Landlord not less than nine (9) months prior to the commencement Expiration Date of the Extension PeriodTerm, except that (a) Tenant shall have no further right to extend in the Term case of this Lease after the second Extension Period, Option not less than nine (b9) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately months prior to the Expiration Date of the Term as extended by the first Extension Period, increased by two and Option. Tenant may exercise the first Extension Option for either all or one-half percent (2.5%) on an annual basisof the Building, as designated in Tenant’s notice exercising such Extension Option. In the event that Tenant has exercised the first Extension Option for all of the Building, Tenant may exercise the second Extension Option for either all or one-half of the Building, as designated in Tenant’s notice exercising such Extension Option. In the event that Tenant has exercised the first Extension Option for only one-half of the Building Tenant may only exercise the second Extension Option for such one-half of the Building. If Tenant exercises an Extension Option, such Extension Option each of the terms, covenants and conditions of this Lease shall apply to during the entire Premises (and no less than applicable Option Term as though the entire Premises). Tenant may exercise an Extension Option only by giving Landlord irrevocable and unconditional written notice thereof (the “Extension Notice“) not later than twelve (12) months prior to the commencement expiration date of the Extension Period. Upon delivery Option Term was the date originally set forth herein as the Expiration Date of the Extension NoticeTerm, Tenant provided that (i) the Rent and Additional Charges to be paid during the applicable Option Term shall be irrevocably bound to lease ninety five percent (95%) of the Prevailing Market Rental, as hereinafter defined, for the Premises for the Extension Period. Notwithstanding applicable Option Term, (ii) the foregoing, Tenant Expiration Date for the Lease shall not have become the right to exercise an Extension expiration date for the applicable Option (a) during the time commencing from the date Landlord delivers to Tenant a written notice that Tenant is in default under any provisions of this Lease and continuing until Tenant has cured the specified defaultTerm; (biii) at there shall be no additional option terms and (iv) if less than all of the Building has been leased for any time after any Default (provided, however, that, for purposes of this Section 3.2, Landlord shall not be required to provide Tenant with notice of such Default) and continuing until Tenant cures any such Default, if such Default is susceptible to being cured; or (c) in the event that Tenant has defaulted in the performance of its obligations under this Lease two (2) or more times during the twelve (12)-month period immediately prior to the date that Tenant intends to exercise an Extension Option, and such defaults were not cured within the applicable cure period. If Tenant rentable area covered by this Lease shall fail to timely exercise the Extension Option be recalculated in accordance with Section 2.1, provided however, that the provisions of this Section 3.2, then the Extension Option shall terminate, and shall be null and void and of no further force and effect. If this Lease or Tenant’s right to possession of the Premises shall terminate in any manner whatsoever before Tenant shall exercise the Extension Option, or if Tenant shall have assigned or transferred any interest in this Lease or sublet any part of the Premises (except pursuant to a Permitted Transfer, as defined below), then immediately upon such termination, assignment, transfer or sublease, the Extension Option shall simultaneously terminate and become null and void. Time is of the essence with regard to this Section 3.2.BOMA