Common use of Extension Option Clause in Contracts

Extension Option. Provided that MediaPlex has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years ("Extension Period"), by giving written notice to Landlord of the exercise of such Extension Option at least nine (9) months, but not more than twelve (12) months, prior to the expiration of the initial Term. The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Mediaplex Inc

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Extension Option. Provided that MediaPlex (a) The 3DO Company has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Affiliates and shall not be transferable or exercisable for the benefit of any TransfereeTransferee other than an Affiliate), (b) The 3DO Company or its Affiliate is in actual occupancy of at least fifty-one percent (51%) of the total square feet of rentable area in the Buildings, and provided (c) Tenant is not in default beyond any applicable notice and cure period under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension OptionEXTENSION OPTION") to extend the Term for one two (12) additional consecutive period periods of five (5) years (each an "Extension PeriodEXTENSION PERIOD")) with respect to one or both Buildings, by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve eighteen (1218) months, prior to the expiration of the initial TermTerm or the prior Extension Period, as the case may be. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover either one or both Buildings, as designated by The 3DO Company or its Affiliate in its notice exercising such Extension Option; provided, however, if in Tenant's notice exercising any Extension Option Tenant fails to designate whether the entire Premises leased by Extension Option is for one or both Buildings, Tenant pursuant shall be conclusively deemed to this Leasehave elected to exercise the Extension Option on both Buildings. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Notwithstanding the foregoing, if Tenant elects to exercise the Extension Option on only one Building, then Landlord and Tenant shall execute a Lease amendment to change Tenant's Share, and to apportion evenly the obligations and rights of Landlord and Tenant, based upon Tenant leasing only one Building. Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (3do Co)

Extension Option. Provided that MediaPlex has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original a) Landlord hereby grants Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the an option (the "Extension Option") to extend the Term (“Extension Option”) for one (1) additional consecutive period of five (5) years ("Extension Period"“Option Term”), by giving written notice to Landlord commencing immediately after the expiration of the exercise of such Term. The Extension Option shall be upon the terms and conditions contained in this Lease, except that the initial Monthly Base Rent for the Premises during the Option Term shall be equal to 95% of the “fair market rent” for the Premises as of the commencement of the Option Term (i.e., the rate that a willing, comparable, new (i.e., non-renewal), non-equity tenant would pay, and that a willing landlord of comparable office space in Point Richmond, California would accept at least nine (9arms’ length), determined in the manner set forth in subparagraph 2.5(b) months, but not more than twelve (12) months, prior below. Notwithstanding anything to the expiration contrary contained herein, in no event shall the Monthly Base Rent payable (on a per square foot basis) by Tenant during the Option Term be less than the Monthly Base Rent payable (on a per square foot basis) by Tenant as of the last month of the initial Term. The fair market rent shall not take into account any Tenant Additions paid for by Tenant without reimbursement from Landlord. Tenant’s election to exercise of the Extension Option by Tenant shall (“Tenant’s Extension Notice”) must be irrevocable and shall cover given to Landlord in writing not less than nine (9) months prior to the entire Premises leased by Tenant pursuant scheduled Expiration Date. Notwithstanding anything to this Lease. Upon such exercisethe contrary contained herein, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument Option exercised by the parties; provided that Landlord and Tenant shall, at Landlord’s option, be null and void and of no further force or effect if requested by either party, execute and acknowledge an instrument confirming the exercise Tenant is in Default under this Lease as of the date of Tenant’s Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth belowNotice.

Appears in 1 contract

Samples: Lease (Transcept Pharmaceuticals Inc)

Extension Option. Provided that MediaPlex Perclose, Inc., has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Affiliates and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease beyond any applicable notice and cure periods at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years (the "Extension Period"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve eighteen (1218) months, prior to the expiration of the initial Term. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (Perclose Inc)

Extension Option. Provided that MediaPlex iMall, Inc., a Nevada corporation, has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension OptionEXTENSION OPTION") to extend the Term for one (1) an additional consecutive period of five (5) years (each an "Extension PeriodEXTENSION PERIOD"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine ten (910) months, but not more than twelve (12) months, prior to the expiration of the initial Term. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Part of Lease Agreement (Imall Inc)

Extension Option. Provided that MediaPlex Infinera Corporation has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") ”), to extend the Term for one from September 1, 2011 until February 28, 2013 (1) additional consecutive period of five (5) years ("the “Extension Period"), by giving written notice to Landlord of the exercise of such any the Extension Option at least nine six (96) months, but not more than twelve (12) months, prior to the expiration of the initial Term. The Except as otherwise provided herein, the exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be one hundred percent (100%) of the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (Infinera Corp)

Extension Option. Section 2 of the First Addendum to Lease is hereby deleted in its entirety and is of no further force or effect. Provided that MediaPlex (i) Alpha and Omega Semiconductor Incorporated, a California corporation, has not assigned this the Lease or sublet any or all of the Premises other than to a Permitted Transferee (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this the Lease and shall not be transferable or exercisable for the benefit of any transferee other than a Permitted Transferee), and provided Tenant is not in default (ii) no Event of Tenant’s Default exists under this Lease the Lease, as amended hereby, at the time of exercise or at any time thereafter until the beginning of any such extension of the Lease Term, Tenant shall have the option (the "Extension Option") to extend the Lease Term for one (1) additional consecutive period of five (5) years ("the “Extension Period"), by giving written notice to Landlord of the exercise of such Extension Option at least nine twelve (912) months, but not more than twelve fifteen (1215) months, prior to the expiration of the initial Extended Lease Term. Tenant’s exercise outside of the period between such dates shall be of no force or effect. The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this the Lease, as amended hereby. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested in writing by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Lease Term shall be upon all the terms and conditions set forth in this Lease the Lease, as amended hereby, and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the LeaseLease Term; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Landlord shall not be obligated to pay any fee or commission to any broker; and (iv) Base Monthly Rent for any such the Extension Period shall be one hundred percent (100%) of the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: First Amendment (ALPHA & OMEGA SEMICONDUCTOR LTD)

Extension Option. Provided that MediaPlex Natus Medical, Inc. has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Affiliates and shall not be transferable or exercisable for the benefit of any TransfereeTransferee other than an Affiliate), and provided Tenant is not in default under this Lease beyond any applicable cure period at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension OptionEXTENSION OPTION") to extend the Term for one (1) additional consecutive period of five (5) years ("Extension PeriodEXTENSION PERIOD"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve fifteen (1215) months, prior to the expiration of the initial Term. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Part of Lease Agreement (Natus Medical Inc)

Extension Option. Provided that MediaPlex HemaCare Corporation, a California corporation, has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and o an Affiliate and shall not be transferable or exercisable for the benefit of any TransfereeTransferee other than an Affiliate), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years ("the “Extension Period"), by giving written notice to Landlord of the exercise of such Extension Option at least nine (9) months, but not more than twelve (12) months, prior to the expiration of the initial TermTerm (as such Term may have been automatically extended pursuant to Section 38 (c) above). The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such the Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Part of Lease Agreement (Hemacare Corp /Ca/)

Extension Option. Provided that MediaPlex Perclose, Inc., has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Affiliates and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease beyond any applicable notice and cure periods at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years ("the “Extension Period"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve eighteen (1218) months, prior to the expiration of the initial Term. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (Fox Hollow Technologies Inc)

Extension Option. Provided that MediaPlex Lessee has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision paragraph are and shall be personal to the original Tenant Lessee under this Lease and only while the original Lessee is in full possession of the Premises and, if requested by Lessor, with Lessee certifying that Lessee has no intention of thereafter assigning or subletting, and that all rights pursuant to this provision shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant Lessee is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant Lessee shall have the option (the "Extension Option") to extend the Term for one two (12) additional consecutive period periods of five (5) years (each an "Extension Period"), by giving written notice to Landlord Lessor of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve fifteen (1215) months, prior to the expiration of the initial TermTerm or the first Extension Period (as the case may be). The exercise of the Extension Option by Tenant Lessee shall be irrevocable and shall cover the entire Premises leased by Tenant Lessee pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the an Extension Period without the execution of any further instrument by the parties; provided that Landlord Lessor and Tenant Lessee shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any The extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant Lessee shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord Lessor shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) the Base Rent for any such the first Extension Period shall be the then Fair Market monthly Base Rental Rent in effect during the last year of the Initial Term, subject to annual adjustment pursuant to Paragraph 4.3 of this Lease; and (as defined belowiv) the Base Rent for the Premises for the space and term involvedsecond Extension, which if exercised, shall be determined the then prevailing fair market rental value of the Premises. The term of this Lease, whether consisting of the Initial Term alone or the Initial Term as set forth belowextended by one or both of the Extension Periods (if the Extension Option is exercised), is referred to in this Lease as the "Term."

Appears in 1 contract

Samples: Cupertino Electric Inc

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Extension Option. Provided that MediaPlex Unwired Planet has not assigned this Lease or sublet any or all of the Premises other than to an Affiliate (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Affiliates and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease beyond any applicable notice and cure periods at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension OptionEXTENSION OPTION") to extend the Term for one (1) additional consecutive period of five (5) years (the "Extension PeriodEXTENSION PERIOD"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve eighteen (1218) months, prior to the expiration of the initial Term. The `Me exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (Clarent Corp/Ca)

Extension Option. Provided that MediaPlex Xxxx & Xxxxxx Markets, LLC has not assigned this Lease Lease, or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant Lessee under this Lease and shall not be transferable or exercisable for the benefit of any Transfereetransferee), and provided Tenant that Lessee is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the TermLease, Tenant Lessee shall have the option options (the each an "Extension Option") to extend the Term for one up to four (14) additional consecutive period periods of three (3) years and thereafter for up to two (2) additional consecutive periods of five (5) years (each an "Extension Period"), by giving written notice to Landlord Lessor of the exercise of any such Extension Option at least nine six (96) months, but not more than twelve (12) months, prior to the expiration of the initial TermInitial Term or the prior Extension Period, as the case may be. The exercise of the any Extension Option by Tenant Lessee shall be irrevocable and shall cover the entire Premises leased by Tenant Lessee pursuant to this Lease. Upon such exercise, the term Term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord Lessor and Tenant Lessee shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The failure of Lessee to exercise any Extension Option, or the expiration or termination of the Lease, shall terminate Lessee's right to exercise any subsequent Extension Option and Lessee shall terminate if not exercised precisely in the manner provided hereinhave no further right to renew or extend this Lease. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: that (i) Tenant Lessee shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; and (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be equal to the then Fair Market Base Rental Rent (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Retail Lease (Dean & Deluca Inc)

Extension Option. 2.2.1 Provided that MediaPlex MD Beauty, Inc. has not assigned this Lease or sublet any more than twenty-five percent (25%) or all of the Premises to an entity other than a Permitted Transferee (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and its Permitted Transferees and shall not be transferable or exercisable for the benefit of any Transferee other than a Permitted Transferee), and provided Tenant is not in default under this Lease beyond any applicable notice and cure period at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years ("Extension Period"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine twelve (912) months, but not more than twelve fifteen (1215) months, prior to the expiration of the initial Term. The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Office Lease (Bare Escentuals Inc)

Extension Option. Provided that MediaPlex Sysorex Global Holdings Corp. has not assigned this Lease (except to a Peimitted Transferee pursuant to a Permitted Transfer) or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and any Permitted Transferee which is an assignee pursuant to a Permitted Transfer and shall not otherwise be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default beyond any applicable notice and cure periods under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five three (53) years ("the “Extension Period"), by giving written notice to Landlord of the exercise of such Extension Option at least nine (9) months, but not more than twelve (12) months, prior to the expiration of the initial Term. The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; (iii) Landlord shall not be obligated to pay any fee or commission to any broker; and (iiiiv) Base Rent for any such the Extension Period shall be the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Part of Lease Agreement (Inpixon)

Extension Option. Provided that MediaPlex Scientific Learning Corporation has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee, except for Transfers to Affiliates permitted under Section 14.9), and provided Tenant is not in default beyond any applicable cure period under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option (the "Extension OptionEXTENSION OPTION") to extend the Term for one (1) additional consecutive period of five (5) years (each an "Extension PeriodEXTENSION PERIOD"), by giving written notice to Landlord of the exercise of any such Extension Option at least nine (9) months, but not more than twelve (12) months, prior to the expiration of the initial Term. The exercise of the any Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the applicable Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Any Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: (i) Tenant shall have no further option to extend the Term of the Lease, other than as specifically set forth herein; (ii) Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be ninety-five percent (95%) of the then Fair Market Base Rental (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.

Appears in 1 contract

Samples: Lease Agreement (Scientific Learning Corp)

Extension Option. Provided that MediaPlex has not assigned this Lease or sublet any or all of the Premises (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, 2.3.1 Tenant shall have the option (the "Extension Option") to extend the Term for one (1) additional consecutive period of five (5) years ("the “Extension Period"Term”) commencing upon the expiration of the original Term referred to in Section 2.2 (the “Original Term”), by giving provided that Tenant shall give Landlord written notice to Landlord of the Xxxxxx’s irrevocable exercise of such Extension Option option at least nine (9) months, but not more than twelve (12) months, months prior to the expiration of the initial Original Term. The exercise , as the same may have been extended to date, and provided further that at both the time of the giving such notice and at the time of the commencement of the Extension Option by Term: (a) the Lease is in full force and effect, (b) Tenant shall is not in default, beyond applicable notice and cure periods, in the performance or observance of any of the terms and provisions of this Lease on the part of the Tenant to be irrevocable performed or observed, (c) Tenant has neither assigned the Lease nor sublet all or a portion of the Premises (other than as part of a Permitted Transfer (as such term is hereinafter defined)), and shall cover (d) Tenant is occupying the entire Premises leased (other than any portion of the Premises occupied by a subtenant or assignee pursuant to a Permitted Transfer). Prior to the exercise by Tenant pursuant to this Lease. Upon of such exerciseoption, the term expression “Term” shall mean the Original Term, and after the exercise by Tenant of such option, the expression “Term” shall mean the Original Term as it has been extended by the Extension Term. All the terms, covenants, conditions, provisions and agreements in the Lease contained shall automatically be extended for applicable to the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits theretoTerm, except that: that (i) Tenant shall have no further option to extend the Term of the Lease; (ii) Landlord shall not be obligated to contribute funds toward undertake any Landlord Work or leasehold improvements or otherwise prepare the cost of Premises for Tenant or provide any remodelingtenant allowance to Tenant, renovation(ii) the Annual Base Rent shall be as set forth below, alteration or improvement work in the Premises; and (iii) Base Rent in no event shall Tenant have the right to extend the Term for any such Extension Period shall be the then Fair Market Base Rental more than one (as defined below) for the Premises for the space and term involved, which shall be determined as set forth below.1)

Appears in 1 contract

Samples: Cambridge Heart Inc

Extension Option. Provided that MediaPlex has not assigned this Lease or sublet any or all of the Premises Lessor hereby grants to Lessee two (it being intended that all rights pursuant to this provision are and shall be personal to the original Tenant under this Lease and shall not be transferable or exercisable for the benefit of any Transferee), and provided Tenant is not in default under this Lease at the time of exercise or at any time thereafter until the beginning of any such extension of the Term, Tenant shall have the option 2) option(s) (the "Extension OptionOption(s)") to extend the Term term of this Lease, each for one (1) an additional consecutive period term of five (5) years ("Extension Period")years, by giving written notice to Landlord of commencing when the exercise of such Extension Option at least nine (9) monthsthen-existing term expires, but not more than twelve (12) months, prior to the expiration of the initial Term. The exercise of the Extension Option by Tenant shall be irrevocable and shall cover the entire Premises leased by Tenant pursuant to this Lease. Upon such exercise, the term of the Lease shall automatically be extended for the Extension Period without the execution of any further instrument by the parties; provided that Landlord and Tenant shall, if requested by either party, execute and acknowledge an instrument confirming the exercise of the Extension Option. The Extension Option shall terminate if not exercised precisely in the manner provided herein. Any extension of the Term shall be upon all the terms and conditions set forth in this Lease and all Exhibits thereto, except that: Paragraph. Lessee may exercise such option by giving Lessor written notice of its intention not less than six (i6) Tenant shall have no further option months prior to extend the Term expiration of the then-existing term of this Lease; (ii) Landlord . If the Extension Options are exercised, the basic rent for the Premises shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises; and (iii) Base Rent for any such Extension Period shall be become the then Fair current fair market monthly rent ("Market Base Rental (as defined belowRate") for the Premises for as of the space commencement date of the applicable extended term taking into account that there will be no free rent, no real estate fees paid by Lessor and term involvedno tenant improvement allowances or other concessions and excluding any value that may be attributable to the improvements installed in the Premises at Lessee's cost, which as determined by the agreement of the parties or, if the parties cannot agree within sixty (60) calendar days prior to the commencement of such extended term, then by an appraisal. All other terms and conditions contained in this Lease, as the same may be amended from time to time by the parties in accordance with the provisions of this Lease, shall remain in full force and effect and shall apply during the Extension Option term. If it becomes necessary to determine the Market Rate by appraisal, real estate appraisers), all of whom shall be determined as set forth below.Members of the Appraisal Institute and who have at least five (5) years experience appraising research, development and office space located in the vicinity of the Premises shall be appointed and shall act in accordance with the following procedures:

Appears in 1 contract

Samples: Fourth And (Trubion Pharmaceuticals, Inc)

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