Second Extended Term. The annual Base Rent for the Second Extended Term, shall be an amount equal to the greater of (1) the Market Rent for the Premises for the Second Extended Term and (2) the product of (A) the annual Base Rent in effect on the last day of the First Extended Term and (B) the greater of (x) 1.03 and (y) the lesser of (aa) 1.06 and (bb) the average annual percentage increase if any, in the CPI between the month preceding the commencement of the First Extended Term and the month preceding the commencement of the Second Extended Term.
Second Extended Term. Subject to the occurrence of the Amendment Effective Date, Tenant shall have exercised the right to extend the Lease through and including the Second Extended Term without any further action of notice of Tenant or Guarantor to the City and Commission that the Lease is so extended.
Second Extended Term. If this Agreement has not expired or been terminated in accordance with Section 8.2 hereof (other than termination by Novartis in accordance with Section 8.2(b) hereof) on or before the expiration of the First Extended Term, Novartis may extend the term of this Agreement from the end of the First Extended Term until the fifth (5th) anniversary of the Effective Date, subject to earlier termination in accordance with Section 8.2 hereof (the “Second Extended Term”), by providing written notice and by paying another Extension Fee (in addition to the Extension Fee paid or payable with respect to the First Extended Term) in accordance with Section 5.2 hereof at any time prior to the expiration of the First Extended Term. The Initial Term, together with the First Extended Term and the Second Extended Term, if applicable, shall be referred to herein collectively as the “Term.” The foregoing notwithstanding, the Term shall automatically expire once Novartis has taken the maximum number of Exclusive Licenses available to Novartis pursuant to Section 3.3 hereof.
Second Extended Term. Provided that (a) at the time of exercise and at the commencement of the Second Extended Term (as hereinafter defined) Tenant is not in default under any term or provision of this Lease beyond expiration of any applicable cure period; and (b) Tenant has previously exercised its option for the First Extended Term; (c) the Lease has not been assigned other than to a controlled entity, as set forth in subparagraph 16(i) of the Lease; and (d) Tenant is not subletting more than twenty-five percent (25%) of the Premises at the commencement of the First Extended Term other than to a controlled entity as set forth in subparagraph 16(i) of the Lease, then Tenant shall have the option to extend the term of this Lease (the "Second Option to Extend", each of the First Option to Extend and the Second Option to Extend being referred to herein from time to time as an "Option to Extend") for one (1) additional period of five (5) years after the First Extended Term (the "Second Extended Term") upon the same terms and conditions set forth in this Lease, so far as applicable, except that Tenant shall have no additional option to extend the Term hereof (beyond the Second Extended Term) and the rental rate for the Second Extended Term shall be the market rent for the consummation, at the time of the exercise of such option, of similar lease transactions for comparable properties located in the general geographical area in which the Premises are located; provided, however, the monthly amount of the Fixed Rent during the Second Extended Term shall not be less than the monthly amount of the Fixed Rent payable during the last year of the First Extended Term. In the event the Tenant wishes to exercise this Second Option to Extend, Tenant shall give Landlord written notice of such election not later than one hundred eighty (180) days prior to expiration of the First Extended Term.
Second Extended Term. If this Agreement has not been terminated in accordance with Section 8.2 hereof (other than termination by Lilly in accordance with Section 8.2(b) hereof) on or before the expiration of the First Extended Term, then Lilly may extend the term of this Agreement from the end of the First Extended Term until December 19, 2015, subject to earlier termination in accordance with Section 8.2 hereof (the “Second Extended Term”), by providing written notice and by paying another Extension Fee in accordance with Section 5.1 hereof at any time prior to the expiration of the First Extended Term. The Initial Term, together with the First Extended Term and the Second Extended Term, if applicable, shall be referred to herein collectively as the “Term.” The foregoing notwithstanding, the Term shall automatically expire once Lilly has taken the maximum number of Exclusive Licenses available to Lilly pursuant to Section 3.3 hereof.
Second Extended Term. All references to “November 18, 2009” as the Second Extended Term in the Loan Documents shall be deleted and replaced with the following date: “June 30, 2011”.
Second Extended Term. Subject to the terms and conditions set forth in paragraph 49.4, Lessee shall have the option to extend the term of this Lease for an additional period of five (5) years commencing on the expiration of the First Extended Term (herein referred to as the "Second Extended Term") by giving notice to Lessor of its election so to extend such term on or prior to March 1, 2002.
Second Extended Term. Effective as of midnight on December 31, 2003, (a) the “Term of Lease” is further extended for a period of thirty-six (36) months from January 1, 2004, through December 31, 2006, and (b) the “Termination Date” set forth on the Reference Page of the Lease (as amended pursuant to Paragraph 3 of the First Amendment), is changed from “December 31, 2003” to “December 31, 2006”.
Second Extended Term. Between September 2, 2004 and September 30, 2005 (the “Second Extended Term”), Innogenetics may terminate this Agreement at any time, by providing three months prior written notice.
Second Extended Term. Section 3 of the Lease titled “Term” is amended in its entirety to read as follows: Fourth Amendment – 0000 Xxx Xxxxxxx, Xxxxx 000 Xxx Xxxx, XX 00000 638034-003 “The initial term of the Lease commenced on December 1, 2011 and expired November 30, 2016 (the “Initial Term”). An extension of the Lease, pursuant to CITY’s exercising the Option under Section 4, commenced on December 1, 2016 and expired November 30, 2021 (the “First Extended Term”). CITY shall occupy the space on a holdover basis from December 1, 2021 through December 31, 2021 at the same rent rate as the previous month. A second extension of the Lease shall commence from January 1, 2022 through December 31, 2026 (the “Second Extended Term”).”
