Second Option Period Sample Clauses

Second Option Period. If Xxxxxxx has exercised the first option under clause 4.3 and gives a notice in accordance with clauses 4.5 or 4.8 exercising the second option given to it under clause
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Second Option Period. Five (5) years beginning at the expiration date of the First Option Period.
Second Option Period. If an Event of Default by Tenant shall not then exist, and Tenant has exercised the right to the First Option Period, Tenant shall have the right to extend the Term of the Lease for a Second Five (5) Year Option Period; provided, however, that the right to exercise the Second Option shall be personal to Tenant to the extent that if, during the Agreed Initial Term, Tenant shall have assigned this Lease or subleased the entire Premises or substantially all the Premises, for the balance of the Agreed Initial Term and the First Option Period such that the original Tenant hereunder (as such Tenant may have changed through any one or more mergers, affiliations, associations or combinations as described in Paragraph 13(j) above) is no longer in possession of all or substantially all of the Premises, then the Second Option shall be null and void and Tenant shall have no right to extend the term of this Lease for the Second Option Period. The Second (2nd) Five Year Option Period shall commence on the day following the date on which the First Option Period terminates and shall terminate on the last day of the Sixtieth (60th) month thereafter. The failure by Tenant to exercise any Option Period herein shall terminate Tenant's right to any successive Option Periods. Tenant shall exercise the right to the Second Five Year Option Period by delivering written notice to Landlord not later than six (6) months prior to the expiration of the First Option Period.
Second Option Period. The term
Second Option Period. Thirty Five Thousand Dollars ($35,000.00) per year, payable in twelve (12) equal monthly installments of Two Thousand Nine Hundred Sixteen Dollars and Sixty-Six Cents ($2,916.66), payable on the first day of each calendar month commencing on the first day of the Second Option Period, if any.
Second Option Period. If GSK's Development Election for a particular Licensed Product was made during the Second Option Period pursuant to Sections 4.3.1(c) or 4.3.2(a): (A) the royalty rate for all Licensed Products shall [ * ] ; and (B) the royalty rate for the individual Licensed Product so accepted during the Second Option Period shall be as follows: [ * ]
Second Option Period. The Second Option shall be exercisable from the date that shall be [3] Business Days from the date of the First Option Exercise Notice until the (i) 11:59 p.m. (Eastern Standard Time) on the date that is 24 months from the Operative Date, or (ii) the date of termination of this Agreement in accordance with Section 4.10 (the “Second Option Period”).
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Second Option Period. Base Rent during the Second Option Period shall be an amount equal to 95% of Fair Market Rent as of the commencement of the Section Option Period, determined as set forth in Section 3.4, provided that Base Rent shall be at least 2% greater and not more than 5% greater than the Base Rent in effect at the end of the First Option Period, and shall be subject to a 2% annual increase.
Second Option Period. Developer shall have the right to extend the Option Term through the end of the Second Option Period, provided that Developer does the following prior to the end of the First Option Period:
Second Option Period. (1) For the Second Option Period, the Tenant shall notify the Landlord, in writing, one (1) year before the expiration of the First Option Period that it intends to exercise the option to renew. Failure to notify the Landlord, in writing, by the aforementioned date shall terminate the right of the Tenant to exercise the option to renew. (2) The yearly rent for the Second Option Period shall be the yearly rent required to be paid in the last
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