Common use of Extended Terms Clause in Contracts

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for three (3) additional periods (collectively, the "Extended Terms") as follows: three (3) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration Date. Lessee's extension options shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Balanced Care Corp)

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Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for three four (34) additional periods (collectively, the "Extended Terms") as follows: three four (34) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateApril 30, 2029 . Lessee's extension options option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b3.1(a). Notwithstanding anything to the contrary set forth herein, LesseeXxxxxx's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for three four (34) additional periods (collectively, the "Extended Terms") as follows: three four (34) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateMarch 31, 2030. Lessee's extension options option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for three four (34) additional periods (collectively, the "Extended Terms") as follows: three four (34) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateMarch 31, 2028. Lessee's extension options option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, Lessee is hereby granted the option to extend the Initial Term of this Lease for three four (34) additional periods (collectively, the "Extended Terms") as follows: three four (34) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateMarch 31, 2029. Lessee's extension options option rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b3.1(a). Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Emeritus Corp\wa\)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for three (3) additional periods (collectively, the "Extended Terms") as follows: three (3) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateNovember __, 2022. The Lessee's extension options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Group One Acquisition Facility Leases (as defined in the Agreement Regarding Related Leases Lease Transactions) in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Group One Acquisition Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

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Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for three (3) additional periods (collectively, the "Extended Terms") as follows: three (3) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateApril 30, 2025. The Lessee's extension options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Group Two Acquisition Facility Leases (as defined in the Agreement Regarding Related Leases Lease Transactions) in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Group Two Acquisition Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

Extended Terms. Provided that this Lease has not been previously terminated, and as so long as there exists no Lease Default (as hereinafter defined) at the time of exercise shall have occurred and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may bebe continuing, Lessee is hereby granted the option right to extend the Initial Fixed Term of this Lease for three (3) additional periods (collectively, the "Extended Terms") as follows: three (3) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateSeptember 29, 2024. Lessee's extension options rights shall be exercised by Lessee by giving written notice to Lessor of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Fixed Term or the then current Extended Term, as the case may be. Lessee shall have no right to rescind any such notice once given. Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b)3.1.3. Notwithstanding anything to the contrary set forth herein, Lessee's rights to exercise extend the options Fixed Term granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases. For the purposes of this Section 1.3, the Related Leases are those leases which pertain to the Acquisition Facilities (as such term is defined in the Agreement Regarding Related Transactions).

Appears in 1 contract

Samples: Facility Lease Agreement (Alterra Healthcare Corp)

Extended Terms. Provided that this Lease has not been previously terminated, and as long as there exists no Lease Default (as hereinafter defined) at the time of exercise and on the last day of the Initial Term or the then current Extended Term (as hereinafter defined), as the case may be, the Lessee is hereby granted the option to extend the Initial Term of this Lease for three (3) additional periods (collectively, the "Extended Terms") as follows: three (3) successive five (5) year periods for a maximum Term, if all such options are exercised, which ends on the fifteenth (15th) anniversary of the Expiration DateDecember 31, 2023. The Lessee's extension options shall be exercised by the Lessee by giving written notice to the Lessor of the Lessee's exercise of each such extension at least one hundred eighty (180) days, but not more than three hundred sixty (360) days, prior to the termination of the Initial Term or the then current Extended Term, as the case may be. The Lessee shall have no right to rescind any such notice once given. The Lessee may not exercise its option for more than one Extended Term at a time. During each effective Extended Term, all of the terms and conditions of this Lease shall continue in full force and effect, except that the Base Rent (as hereinafter defined) for each such Extended Term shall be adjusted as set forth in Section 3.1(b)3.1.1. Notwithstanding anything to the contrary set forth herein, the Lessee's rights to exercise the options granted in this Section 1.3 are subject to the further condition that concurrently with the exercise of any extension option hereunder, the Lessee shall have exercised its option to extend the terms of all of the Related Leases in accordance with the provisions of the Agreement Regarding Related Lease Transactions and the provisions of Section 1.3 of each of the Related Leases.

Appears in 1 contract

Samples: Facility Lease Agreement (Alternative Living Services Inc)

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