Option to Extend Lease Term. At the expiration of the original Lease Term, Tenant may extend this Lease as to the entire Premises or a portion of the Premises for two (2) extended terms of five (5) years each (each an “Extended Term”) by giving Landlord written notice (the “Option Notice”) of its intention to do so not later than twelve (12) months prior to the expiration of the original Lease Term, and thereafter twelve (12) months prior to the expiration of the applicable Extended Term; provided, however, that Tenant is not in material default beyond any applicable notice and cure period under the Lease on the date of giving such notice or on the date of commencement of such Extended Term. The Option Notice shall set forth Tenant’s election to extend the Lease for all or a portion of the Premises. If Tenant elects to extend the Lease for only a portion of the Premises, the portion of the Premises for which Tenant elects not to extend the Lease shall be: (i) either located entirely on one floor of the Premises or located on one entire floor and a portion of the other floor; (ii) a minimum of 15,000 RSF; (iii) adjacent to a window line and easily accessible; and (iv) shall be in a readily marketable and leasable location. Landlord shall be responsible for any and all costs to separate the portion of the Premises for which Tenant elects not to extend the Lease from the remainder of the Premises such that the space is a separate easily accessible and readily marketable space promptly following the commencement of the applicable Extended Term. Any termination of the entire Lease shall result in automatic termination of this option. Tenant’s right to extend the Lease Term provided herein is personal to Tenant and may not be assigned or otherwise transferred except in connection with a permitted assignment of this Lease, including to a Tenant’s Affiliate. The Extended Term shall be upon all of the terms and conditions of this Lease, except that the following rights of Tenant during the original Lease Term shall not apply during such Extended Term unless granted as part of the Fair Market Rental: (a) any right to rent-free possession; (b) any right to further extension of the Lease Term beyond the Extended Terms set forth herein above; (c) any right to continue to pay the same Base Rent; (d) any right to additional Tenant Allowance; (e) any right to terminate the Extended Term early; (f) any right to continue to exclude HVAC Capital Expenditures; (g) cost of security for the Building; and (...
Option to Extend Lease Term. Landlord hereby grants to Tenant one option to extend the Lease Term for a five (5) year term on the following terms and conditions:
Option to Extend Lease Term. Landlord and Tenant acknowledge and agree that Tenant shall continue to have one (1) option to extend the Lease Term for a period of five (5) years in accordance with, and pursuant to the terms of, Section 2.2 of the Office Lease.
Option to Extend Lease Term. (a) Tenant is granted an option (the “Extension Option”) to extend the Lease Term for five (5) years, to and including March 31, 2024. The period of time shall be referred to herein as the “Option Period”. To exercise the Extension Option, Tenant must give Landlord unequivocal written notice of Tenant’s election to exercise the Extension Option at least ten (10) calendar months (but not earlier than twelve (12) calendar months) prior to the Expiration Date.
Option to Extend Lease Term. A. Landlord hereby grants to Tenant two (2) options (hereinafter referred to collectively as the “Options” and each individually as an “Option”) to extend the term of this Lease for an additional period of thirty-six (36) consecutive months each (hereinafter referred to collectively as the “Extensions” and each individually as an “Extension”). The proper and valid exercise of the first of the Options (hereinafter referred to as the “First Extension Option”), shall extend the term of this Lease from the expiration date of the initial term of this Lease for a period or thirty-six (36) consecutive months thereafter (hereinafter referred to as the “First Extension Term”). The proper and valid exercise of the second of the Options (hereinafter referred to as the “Second Extension Option”) shall extend the term of this Lease from the expiration date of the First Extension Term for a period of thirty-six (36) consecutive months thereafter (hereinafter referred to as the “Second Extension Term”). In this regard, Landlord and Tenant hereby stipulate, acknowledge and agree that, if the First Extension Option is properly exercised by Tenant as provided for hereinbelow, the First Extension Term shall commence on the day immediately following the expiration date of the initial term of this Lease, and shall end and terminate on the last day of the thirty-sixth (36th) full month following such date, and that if the Second Extension Option is properly exercised by Tenant as provided for hereinbelow, the Second Extension Term shall commence on the day immediately following the expiration date of the First Extension Term, and shall end and terminate on the last day of the thirty-sixth (36th) full month following such date.
Option to Extend Lease Term. Landlord hereby grants to Tenant an option to extend the Lease Term for either a) a one (1) year period; b) a two (2) year period; or c) a three (3) year period (“Option Period”), on the following terms and conditions:
Option to Extend Lease Term. (i) Paragraph 36(A) of the Original Lease shall be modified by deleting the first three (3) sentences and replacing them with the following: “Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this paragraph, two (2) options (each an “Option”) to extend the Lease Term, each for an additional term of five (5) years (each, an “Option Term”), with the first Option Term commencing immediately following the then scheduled Expiration Date, and the second Option Term commencing immediately following the then scheduled expiration of the first Option Term. Each Option Term shall be exercised, if at all, by written notice to Landlord no earlier than eighteen (18) months and no later than twelve (12) months prior to the expiration date of the then current term. If Tenant fails to timely exercise the Option for the first Option Term, the Option for the second Option Term shall automatically terminate and be of no further force or effect. If Tenant timely exercises an Option for an Option Term, each of the terms, covenants and conditions of this Lease except this paragraph shall apply during such Option Term as though the expiration date of such Option Term was the date originally set forth herein as the Expiration Date, provided that the Base Monthly Rent to be paid shall be ninety-five percent (95%) of the Fair Market Rental, as hereinafter defined, for the Premises for such Option Term.”
Option to Extend Lease Term. (a) Lessee is hereby granted and shall, if not then in default under this Lease, have an option to extend the term of this Lease for an additional twelve (12) months (the “Extended Term”) on the same terms, covenants, and conditions contained in this Lease, except that the rent to be paid by Lessee to Lessor shall be as identified in paragraph 3.2.
Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease beyond all applicable cure periods, Tenant shall have the option to extend the Initial Term of this Lease for two (2) additional periods of five (5) years each (the “First Renewal Term”, the “Second Renewal Term” or collectively the “Renewal Terms”) to commence immediately upon the expiration of the Initial Term or the First Renewal Term, as applicable.
Option to Extend Lease Term. Landlord and Tenant acknowledge and agree that the Extended Term provided herein shall be deemed not to represent any of Tenant's three (3) options to extend the Lease Term as provided in Section 2.2 of the Lease. Accordingly, Landlord and Tenant acknowledge and agree that Tenant shall continue to have the three (3) options to extend the Lease Term, each for a period of five (5) years, in accordance with, and pursuant to the terms of, Section 2.2
