Options to Extend. Provided there exists no uncured Event of Default under any of this Lease, the Related Leases and the Other Leases at the time Lessee exercises any option to extend (in accordance with this Article XVIII), Lessee will have the right to extend this Lease for two (2) periods of ten (10) years each (each such additional term shall be referred to herein as an "Extended Term"), commencing immediately following the end of the Initial Term or the immediately preceding Extended Term, as the case may be; provided, however, that notwithstanding anything stated in this Paragraph 18.1 or elsewhere in this Lease, Lessee shall not be entitled to exercise its option to extend this Lease for any Extended Term (and any such option to extend shall automatically expire and terminate) unless Lessee concurrently exercises its option to extend all the Related Leases for the same period, as provided in Article XVIII of the Related Leases. The Lease during any Extended Term shall be on the same terms and conditions as during the Initial Term, except that the Minimum Rent shall be determined as set forth in Paragraph 18.2 below. In the event Lessee desires to exercise any option to extend granted in this Article XVIII, Lessee shall give Landlord written notice ("Notice to Extend") not less than one hundred eighty (180) days prior to the expiration of the Initial Term or the immediately preceding Extended Term, as the case may be. If Lessee fails to give Lessor any such notice, then Lessor shall give Lessee written notice that Lessor has not received Lessee's Notice to Extend. If Lessee fails to deliver to Lessor the Notice to Extend within ten (10) days thereafter, Lessee shall be deemed to have elected not to extend this Lease and the Related Leases, such option to extend and all future options to extend granted in this Article XVIII or in the Related Leases shall be null and void and of no further force or effect.
Options to Extend. Lessor hereby grants to Lessee the option to extend the term of this Lease for two (2) additional five (5) year periods commencing when the prior term expires upon each and all of the following terms and conditions:
Options to Extend. Two options of five years each. To exercise an option to extend, the Licensee shall provide written notice to the Licensor at least 90 days prior to end of the relevant Term.
Options to Extend. Tenant shall have the option to extend the term of this Lease for two, ten year periods, subject to the following provisions:
Options to Extend. Provided there exists no uncured defaults under this Lease at the time Lessee exercises any option to extend (in accordance with this ARTICLE XXXIV), Lessee will have the right to extend this Lease for two (2) periods of ten (10) years each (each such additional term shall be referred to herein as an "EXTENDED TERM"), commencing immediately following the end of the Initial Term or the immediately preceding Extended Term, as the case may be. The Lease during any Extended Term shall be on the same terms and conditions as during the Initial Term, except that the Minimum Rent shall be determined as set forth in SECTION 34.2 below. In the event Lessee desires to exercise any option to extend granted in this ARTICLE XXXIV, Lessee shall give Lessor written notice ("NOTICE TO EXTEND") not more than three hundred sixty (360) days prior and not less than one hundred eighty (180) days prior to the expiration of the Initial Term or the immediately preceding Extended Term, as the case may be. If Lessee fails to give Lessor any such notice, then such option to extend and all future options to extend granted in this ARTICLE XXXIV shall be null and void and of no further force or effect.
Options to Extend. Provided Tenant is not in default under any of the terms, covenants and conditions hereof at the time of the exercise of its option, Tenant shall have four (4) consecutive options to extend the term of this lease for a period of eight (8) years each. Each such option shall be exercised by Tenant giving Landlord a written notice that it is exercising the same at least six (6) months prior to the date upon which this lease would otherwise terminate if such option were not exercised. In computing this six (6) month period the provisions of Article 10 shall be disregarded. Any extended term hereof, pursuant to the exercise of said option or options, shall be subject to all of the terms, covenants and conditions of this lease, save and except that the rental for the applicable extended term or terms shall be the fair market rental value of the demised premises as of the time of the commencement of the applicable extended term. If the parties hereto shall be unable to agree as to the fair market rental value for the extended term or terms, then it shall be determined by arbitration in accordance with the rules of the American Arbitration Association then in effect and judgment upon the award may be entered in any court having jurisdiction thereof. Any improvements constructed on the demised premises by Tenant at its expense shall not be taken into consideration by determining the fair market value. In the event the monthly rental for the first extended term hereof is not determined prior to the commencement of such extended term, Tenant shall pay Landlord monthly rental at the rate payable during the immediately preceding extension until such monthly rental is determined. In the event the monthly rental as finally determined exceeds the monthly rental therefore paid by Tenant to Landlord for any such extension, rental shall be due following the determination of such monthly rental in addition to the monthly rental due for said month, an amount equal to the sum total of the difference between monthly rental therefore paid to Landlord by Tenant during such extended term and the actual monthly rental so determined to be due hereunder for such portion of the extended term. In the event the monthly rental as actually determined for the extended term is less than that theretofore paid to Landlord by Tenant, Landlord shall remit to Tenant, following the determination of such monthly rental, an amount equal to the sum total of the difference between monthly rental there...
Options to Extend. Provided (i) Tenant is not in default after any applicable notice and cure period under any of the terms, covenants or conditions of this Lease or of the Phase 2 Lease and (ii) Tenant and/or its Permitted Assignees are occupying or conducting business from at least 200,000 rentable square feet of the Total Premises, and subject to the terms and conditions set forth hereafter, Tenant is hereby granted the option to extend the term of this Lease for the Premises (as constituted as of commencement date of any Option Period) leased hereunder for two consecutive five year periods (individually “Option Period”) which must be exercised separately. Tenant shall notify Landlord in writing of Tenant’s exercise of its option to extend the Lease no less than 360 days prior to the then existing Lease expiration date. This Lease shall be extended for a period of five years commencing upon the day after the then expiring Lease term and shall expire five years later. The monthly Base Rent during the extended term shall be as set forth in Paragraph 2C1 below. This option to extend can be exercised by Tenant for its use of the Premises (including any permitted subtenants and affiliates) and may be transferred or assigned to any subtenant, assignee or other party.
Options to Extend. 11.1 Subject to the provisions hereinafter set forth in this Article XI, Landlord hereby grants Tenant options to extend the Term on the same terms, conditions and provisions as contained in this Lease, except as otherwise expressly provided herein, for three (3) periods of five (5) years each (collectively the "Extension Periods," or individually an "Extension Period," as applicable). If exercised in accordance herewith, the first Extension Period shall commence on the first (1st) day after the Expiration Date and each successive Extension Period shall commence on the day after the expiration of the immediately preceding Extension Period.
Options to Extend. Provided there exists no uncured Event of Default under either of the Master Leases (excepting stemming from a loss of any licenses necessary to operate a Facility as an assisted living facility under applicable state laws, which loss of licensure shall not be deemed an Event of Default for purposes hereof provided ALC consummates a substitution in accordance with this MOU and the applicable Master Lease with respect to the unlicensed Facility within one hundred twenty (120) days of such loss of license), ALC shall have the right to extend the term of each Master Lease for up to three (3) separate additional periods of ten (10) years each (each, an “Extended Term”), commencing immediately following the end of the Initial Term or the immediately preceding Extended Term. The option to extend each Master Lease must be exercised in writing not later than twelve (12) months prior to the end of the Initial Term or the then-current Extended Term. Time is of the essence as to providing timely notice of exercise. The Master Leases during any Extended Terms shall be on the same terms and conditions as applied during the Initial Term, except that:
Options to Extend a. Landlord hereby grants to Tenant two (2) options (singularly an “Extension Option” and collectively the “Extension Options”) to extend the term of this Agreement for additional terms of five (5) years each (singularly an “Option Period” and collectively the “Option Periods”), on the same terms, conditions and covenants set forth in this Agreement, except the monthly rental shall be adjusted as hereinafter provided. Each Extension Option shall be exercised automatically without providing any notice of extension unless Tenant provides written notice delivered to the Landlord that Tenant will not extend the Term of this Agreement at least one (1) year prior to the expiration of the Primary Term or the preceding Option Period.
