Common use of TO EXTEND Clause in Contracts

TO EXTEND. x. XXXXX OF OPTION(S). Tenant shall have the right, at its option, to extend the Lease for two (2) period(s) of five (5) years each ("EXTENDED TERM(S)") on an "as is" basis commencing at the expiration of the previous Term, provided that at the time of exercise and at the time of commencement of each Extended Term, Tenant is not in default beyond any applicable cure period under this Lease. Upon commencement of each renewal option term, Landlord shall extend to Tenant a refurbishment allowance in the amount of five dollars ($5.00) per rentable square foot, which allowance shall be reflected in the determination of the Fair Market Rental Value.