Tenant’s Option to Extend. Tenant shall have the right to extend the Term of this Lease in accordance with the Extension Option as provided for in Article 1, provided that Tenant is not in default of any provision of this Lease (beyond any applicable notice and cure period) at the time of its exercise of the Option or upon the commencement of the Extension Term. Tenant may exercise the Extension Option by delivering to Landlord written notice of Tenant’s intention to exercise the Extension Option (the “Notice of Intent”) no later than ninety (90) days and no earlier than one hundred eighty (180) days prior to the expiration of the initial Term of this Lease, time being of the essence. If proper notification of the exercise of the Extension Option is not given and/or received, the Extension Option shall automatically expire. The Extension Term shall be upon all of the terms and conditions contained in this Lease. The Extension Option is personal to the original Tenant and cannot be assigned or exercised by anyone other than said original Tenant and only while the original Tenant is in full possession of the Premises and without the intention of thereafter assigning or subletting; provided, however, notwithstanding the foregoing, the Extension Option shall be assignable to any person or entity to whom Tenant sells all or substantially all of its assets or stock or with whom Tenant merges.
Tenant’s Option to Extend. Provided that, at the time of such exercise, this Lease is still in full force and effect without default by Tenant beyond applicable grace periods and Tenant occupies at least seventy-five percent (75%) of the Premises Rentable Area for its own business purposes, Tenant shall have the right and option (the "Extension Option") to extend the Term of this Lease for one (1) extended term of five (5) years (the "Extended Term") (or such shorter period as Landlord and Tenant shall mutually agree). The Extended Term shall commence on the day immediately succeeding the expiration date of the Initial Term and shall end on the day immediately preceding the fifth anniversary of the first day of such Extended Term. Tenant shall exercise its Extension Option for the Extended Term by giving written notice to Landlord of its desire to do so not later than twelve (12) months prior to the expiration date of the Initial Term. The giving of such notice by Tenant shall automatically extend the Term of this Lease for the applicable Extended Term, and no instrument of renewal need be executed. In the event that Tenant fails to give such notice to Landlord this Lease shall automatically terminate at the end of the Initial Term and Tenant shall have no further option to extend the Term of this Lease. The Extended Term shall be on all the terms and conditions of this Lease, except (i) during any Extended Term, the extension provisions of this Section shall not be effective, and (ii) the Base Rent for the Extended Term shall be the prevailing base rental rate projected to the time of commencement of the Extended Term for comparable space in the Building or comparable space in the market, but in any event not less than the Base Rent in effect immediately prior to the Extended Term. Landlord and Tenant shall attempt to agree upon the applicable Base Rent but, if agreement is not reached by that date which is eleven (11) months prior to the commencement date of the Extended Term, either Landlord or Tenant may elect to follow the Appraisal Process for determination of such Base Rent. The Appraisal Process shall be a determination of the market rate by three (3) appraisers, one selected by the Landlord, one by the Tenant and the third by the two appraisers so selected, each of whom shall have had at least ten (10) years experience in appraising commercial real estate in the Route 495/Route 9 Area. Each appraiser shall independently determine the projected market rate of the Premises as...
Tenant’s Option to Extend. Section 2.3 of the Lease is hereby amended by:
Tenant’s Option to Extend. Provided Tenant has not and is not otherwise in default under the terms of this Lease and there exists no event with which the passing of time or the giving of notice would create a default under this Lease, Tenant shall have one (1) option to extend the term of this Lease for a period of three (3) additional years beyond the Initial Term (the “Option Term”) commencing upon the expiration of the Initial Term. Landlord must receive written notice of Tenant’s election to exercise an option to extent the term of this Lease prior to February 1, 2018. The written notice shall be sent to Landlord by a nationally recognized overnight delivery service or via certified mail, return receipt requested, time being declared of the essence. In the event Tenant materially defaults hereunder, Tenant’s exercise of its option to extend the term of this Lease shall, at Landlord’s election, be deemed waived by Tenant and no longer available to Tenant. During the Option Term, all terms and conditions of this Lease shall remain in full force and effect excepting monthly Rent which shall be as follows: OPTION PERIOD MONTHLY RENT September 1, 2018 – August 31, 2019 $4,479.00 September 1, 2019 – August 31, 2020 $4,614.00 September 1, 2020 – August 31, 2021 $4,753.00
Tenant’s Option to Extend. 41.01 Tenant may extend the Term of this Lease for one (1) period of sixty (60) months each (the "Extension Term") beginning the day immediately succeeding the Expiration Date, upon the same terms and conditions of the Lease, except that:
Tenant’s Option to Extend. On the conditions (which conditions Landlord may in its sole discretion waive by notice to Tenant at any time) that (i) Tenant is in compliance with the terms of this Lease and no Event of Default exists, and (ii) Tenant is occupying at least 60% of the Premises originally demised by this Lease, in the case of each such condition, both as of the time of the exercise of the Tenant's rights in this Article 10, and as of the commencement of the Extension Term, Tenant shall have the option to extend this Lease for each Extension Term. Tenant may exercise each Extension Term by giving written notice ("EXTENSION NOTICE") to Landlord at least nine months before the Lease Expiration Date. Time shall be of the essence in this Article 10.
Tenant’s Option to Extend. (a) Tenant shall have the option to extend the Initial Term of this Lease for one (1) successive additional period of six (6) years (the “Extension Term”), commencing on the first day following the Termination Date of the Initial Term; subject, however, to the Renewal Conditions (as hereinafter defined). The Extension Term shall be upon the same terms, covenants, conditions and provisions as are in effect as of the Termination Date of the Initial Term, except that the annual Base Rate in effect during the Extension Term shall be as provided in the Agreement of Lease.
Tenant’s Option to Extend. Provided Tenant is in occupancy of premises and is not in default of the Lease, Tenant shall have an option of extending the term of this Lease for one additional renewal term of FIVE (5) years on the same terms and conditions as set forth herein, provided, however, that the Tenant shall pay to the Landlord as basic rent for the said FIVE (5) year renewal term the sum of SEVENTY-ONE THOUSAND FIVE HUNDRED FIFTY AND 00/100 ($71,550.00) per annum in equal monthly installments plus any increase as determined in accordance with the provisions of paragraph 47. Written notice of Tenant's intention to extend the Lease for the said FIVE (5) year renewal term shall be given to the Landlord not later than nine (9) months prior to the expiration of the initial term of the Lease. In the event notice is not received by Landlord at least nine (9) months prior to the expiration of the initial term, said option shall be deemed waived by Tenant.
Tenant’s Option to Extend. Tenant shall have the right to extend the initial terms of this Lease (the "Extension Option") for one (1) period of ten (10) years, provided the following conditions are met:
Tenant’s Option to Extend. On the conditions (which conditions Landlord may in its sole discretion waive by notice to Tenant at any time) that (a) both as of the time of the exercise of Tenant’s rights in this Article 11.0 and as of the commencement of the Extension Term there is no Event of Default; (b) that the person originally named as Tenant in Section 1.1 is occupying the entirety of the Premises then demised by this Lease, Permitted Transfers excepted; and (c) Landlord does not elect to use the Premises for occupancy by Harvard Real Estate – Allston, Inc. or for occupancy or use by an affiliate of Harvard University (collectively, the “Harvard Use”); then Tenant shall have the option to extend this Lease for the Extension Term. Tenant may exercise this option by giving notice (“Extension Notice”) to Landlord not more than eighteen months and not less than one year before the Lease Expiration Date. The termination, expiration, cancellation, assignment (except with respect to a Permitted Transfer), or surrender of this Lease as to the entire Premises shall terminate any rights of Tenant pursuant to this Section. If Landlord elects to use the Premises for the Harvard Use, then Landlord shall so notify Tenant by written notice (“Landlord’s Use Notice”) and Tenant’s option shall be deemed void. If Landlord does not deliver Landlord’s Use Notice on or before the date eleven months before the Lease Expiration Date, Tenant shall by written request require that Landlord confirm its intention to use the Premises (or not to use the Premises) and Landlord shall, within 30 days thereafter, deliver written confirmation of its intention to use (or not use) the Premises for its own use. Such right to reserve the Premises for Harvard Use upon expiration of the Lease shall be personal to Harvard Real Estate – Allston, Inc. and any affiliate and shall not be assignable to any other unaffiliated owner of the Building or the Land.
