Term and Extension Options Clause Samples
Term and Extension Options. (a) The Initial Term of this Lease shall be for a period commencing on the commencement date of this Lease as mutually agreed upon by the parties and terminating on the twentieth-fifth (25th) anniversary thereof, plus the number of days necessary to end the term on the last day of a calendar month or on such earlier date upon which said term may expire or be terminated pursuant to any of the conditions of limitation or other provisions of this Lease, or pursuant to the provisions of any present or future constitution, law, statute, ordinance, rule, regulation, other governmental order, or controlling judicial determination of any federal, state, local, municipal, or other governmental body, agency, or authority having or asserting jurisdiction, and all departments, commissions, boards, and officers thereof (collectively, the Laws).
(b) Provided the Tenant shall keep, observe, and perform all of the terms, covenants, and conditions of this Lease on Tenant's part to be kept, observed, and performed, Tenant shall have the right to extend the term of this Lease for one (1) consecutive period of five (5) Lease Years (hereinafter referred to as the First Extended Term), provided Tenant shall notify Landlord, in writing, by registered or certified mail, return receipt requested, not less than twelve (12) months prior to the expiration of the then existing term hereof, that Tenant elects to extend the term of this Lease, and provided further that this Lease, as extended, shall be upon the same terms, covenants, and conditions as are contained herein, except as to the duration of the term hereof, the fixed annual Minimum Rental rate amount and any other provisions of this Lease which by their terms are applicable only to any portions of the term and excluding any further option of extension. Failure to comply with the provisions of this paragraph shall be deemed a complete waiver of the options herein granted.
Term and Extension Options. TO HAVE AND TO HOLD for the Initial Term.
Term and Extension Options. The Lease has an initial term of (___) years, subject to extension (at Tenant’s option) as provided therein for ___ (___) successive additional periods of (___) years each.
Term and Extension Options. The definitions of "Expiration Date" and "Term" set forth in the Lease are hereby deleted. Notwithstanding anything to the contrary contained in the Lease: (i) "Expiration Date" shall mean the day immediately preceding the fifth (5th) anniversary of the Fourth Amendment Lease Commencement Date, as same may be extended pursuant to the Lease as amended by this Fourth Amendment", and (ii) "Term" shall mean the period of time measured from March 1, 1999 to and including the Expiration Date as herein defined. The two 5-year Extension Options granted in Section 2.2 of the Original Lease shall apply to the entire Leased Premises, including without limitation, the Fourth Amendment Space, and, notwithstanding anything to the contrary contained in the Lease, the first five-year Extension Term (as defined in Section 2.2 of the Original Lease) shall commence immediately upon the expiration of the Term, and the second five-year Extension Term shall commence upon the expiration of the first Extension Term, in each case, if so elected by Tenant. Tenant may not exercise an Extension Option with respect to less than the entire Leased Premises.
Term and Extension Options. Pursuant to the Option to Extend contained in the Lease, Tenant elects to extend the Term of the Lease for the third Extension Term which shall commence on July 1, 2005 and expire on June 30, 2010, unless terminated earlier pursuant to the term of the Lease, and Landlord hereby accepts such election. The rent for the third Extension Term shall be calculated in accordance with Section 1.2 of the Addendum to the Lease, and Exhibit 6 to the Lease, referred to as Option to Extend. Tenant shall at that time have one additional Extension Term of five (5) years remaining under the original Lease terms. Landlord grants to Tenant one additional Extension Term of five (5) years, exercisable in the manner otherwise provided for in the Lease, resulting in Tenant having two (2) remaining Extension Terms, the first of which will commence July 1, 2010, if properly exercised by Tenant.
Term and Extension Options. (a) The term of this Sublease shall commence on the date on which Landlord makes the Subleased Premises available for occupancy by Subtenant hereunder, which is targeted for May 1, 2016; provided, however, that the term of this Sublease shall not commence prior to the date that Overlandlord consents to this Sublease in writing (the “Term Commencement Date”). Promptly after the Term Commencement Date is determined, Sublandlord and Subtenant shall execute so acknowledgement thereof in the form attached hereto as Exhibit B. The term of this Sublease shall end on January 31, 2017, or such earlier date upon which said term may expire or be terminated pursuant to any of the conditions or limitations or other provisions of this Sublease, or pursuant to law (which date for the termination of the term hereof shall hereafter be called the “Termination Date”).
Term and Extension Options