Common use of The Extended Term(s) Clause in Contracts

The Extended Term(s). If Tenant shall comply with each of the terms, provisions and conditions of this Lease so that at the end of the First Extended Term there is no uncured Event of Default of Tenant hereunder, Tenant shall have the right and option to extend the term of this Lease for an additional extended term of five (5) years (the “Second Extended Term”). If Tenant shall comply with each of the terms, provisions and commitments of this Lease so that at the end of the Second Extended Term there is no uncured event of default of Tenant hereunder, Tenant shall have the right and option to extend the term of this Lease for an additional term of five (5) years (the “Third Extended Term”). Tenant shall have the right and option to extend the term of this Lease for four (4) additional terms of five (5) years each following the Third Extended Term, provided that there is no uncured event of default of Tenant hereunder at the end of the Third Extended Term and at end of each succeeding extended term. The Second Extended Term, the Third Extended Term and any succeeding extended term may be referred to hereinafter as the “Extended Term” or “Extended Terms”.”

Appears in 2 contracts

Samples: Lease Agreement (Tropicana Entertainment Inc.), Lease Agreement (Manchester Mall Inc)

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The Extended Term(s). If Tenant shall comply with each of the terms, provisions and conditions of this Lease so that at the end of the First Extended Original Term there is no uncured Event of Default of Tenant hereunder, Tenant shall have the right and option to extend the term of this Lease for an additional term of five (5) years. If Tenant shall comply with each of the terms, provisions and conditions of this Lease so that at the end of the first extended term there is no uncured Event of Default of Tenant hereunder, Tenant shall have the right and option to extend the term of this Lease for an additional extended term of five (5) years (the “Second Extended Term”)years. If Tenant shall comply with each of the terms, provisions and commitments of this Lease so that at the end of the Second Extended Term second extended term there is no uncured event of default of Tenant hereunder, Tenant shall have the right and option to extend the term of this Lease for an additional and final term of five (5) years (the “Third Extended Term”)years. Tenant shall have the right and option to extend the term of this Lease for four (4) additional terms of five (5) years each following the Third Extended Term, provided that there is no uncured event of default of Tenant hereunder at the end of the Third Extended Term and at end of each succeeding extended term. The Second Extended Term, the Third Extended Term and any succeeding Such extended term or terms may be referred to hereinafter as the “Extended Term” or the “Extended Terms”.

Appears in 2 contracts

Samples: Lease (Manchester Mall Inc), Tropicana Entertainment Inc.

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