Common use of Option to Extend Lease Term Clause in Contracts

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.” 235283

Option to Extend Lease Term. So long as this Lease is in effect, Tenant shall have the option (ieach such option, an "Option to Extend") Paragraph 36(A) to extend the term of the Original within 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, for two (2) options (each an “Option”) to extend the Lease Term, each for an additional term terms of five (5) years each (each, each an “Option "Extension 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 on the expiration date of the then current termoriginal Term of the Lease, said option terms to be on the same terms and conditions as the within Lease except that (i) the Lease shall contain no further options to extend and (ii) the Annual Fixed Rent during said Extension Terms shall be determined as set forth in Section 10.15.1 below. If Each Option to Extend shall be exercised by the earlier of (x) a notice from Tenant fails to timely exercise Landlord given at least nine (9) months before the Option for end of the first Option then-expiring 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 time being of the termsessence. Subject to the provisions set forth below in the next sentence of this Section 10.15 and the provisions of Section 10.15.1 (g) hereof, covenants and conditions upon the delivery of any such notice of exercise of any Option to Extend, the Term of this Lease except shall be irrevocably extended for the applicable Extension Term. If (i) Tenant does not timely exercise any Option to Extend, or (ii) at the time of Tenant's notice of exercise of any Option to Extend or at the time of commencement of any Extension Term, an Event of Default shall exist and be continuing, at Landlord's option, Xxxxxx's Option to Extend the Term shall irrevocably lapse, Tenant shall have no further right to extend the Term, and this paragraph Lease shall apply during such Option expire at the end of the then-current Term. All references to the Term shall mean the initial 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 it may be paid shall be ninety-five percent (95%) of the Fair Market Rental, as hereinafter defined, for the Premises for such Option extended by any Extension Term.” 235283

Option to Extend Lease Term. (i) Paragraph 36(A) Lessee is hereby granted the option to extend the term of the Original this Lease shall be modified by deleting the first for three (3) sentences additional terms, hereinafter referred to as the "First Extended Term," "Second Extended Term," and replacing them with the following: “Landlord hereby grants to Tenant"Third Extended Term" respectively, upon and subject to on all of the terms and conditions set forth and. provisions contained in this paragraphLease, two except rent (2which rent shall be set at the Market Rate as defined in paragraph 4.3) options (each an “Option”) and expiration date of the Initial Term. Lessee may exercise its 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, this Lease by giving written notice Of such exercise (a "Lessee's Renewal Notice") to Landlord no earlier than eighteen (18) months and no Lessor not later than twelve nine (129) months prior to the expiration of the term to be extended; provided, however, that if Lessee is in default on the date of giving Lessee's Renewal Notice, the then current term. If Tenant fails to timely exercise Lessee's Renewal Notice shall be null and void and of no force or effect, and provided further, that if Lessee is in default on, or this Lease has been otherwise terminated prior to, the Option for date that the first Option First Extended Term, the Option for Second Extended Term, or the second Option Third Extended Term, as the case may be, would otherwise commence, such extended term shall not commence and this Lease shall expire at the end of the Initial Term, the First Extended Term or the Second Extended Term, as the case may be. The First Extended Term shall automatically terminate and be of no further force or effect. If Tenant timely exercises an Option for an Option Termbefore five (5) years, each commencing on the day after the expiration of the termsinitial Term. The Second Extended Term shall be for a period of five (5) years, covenants and conditions commencing on the day after the expiration of the First Extended Term. The Third Extended Term shall be for a period of five (5) years, commencing on the day after the expiration of the Second Extended Term. Lessee shall have no right to extend the term of this Lease except this paragraph beyond the Third Extended Term described herein. The Initial Term and any Extended Term(if commenced as provided above) shall apply during such Option Term as though the expiration date of such Option Term was the date originally set forth be collectively referred to 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 "Lease Term.” 235283"

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.” 235283”

Option to Extend Lease Term. Tenant shall have the right and option, which said option shall not be severed from this Lease or separately assigned, mortgaged or transferred, at its election, to extend the Original Lease Term for one (i1) Paragraph 36(Aadditional period of three (3) years (the “Extension Period”) commencing upon the expiration 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 provided that (5a) 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 Landlord shall receive written notice from Tenant of the first Option Term. Each Option Term shall be exercised, if exercise of its election at all, by written notice to Landlord no earlier than eighteen least six (18) months and no later than twelve (126) months prior to the expiration date of the then current termOriginal Lease Term, (b) no Event of Default shall exist at the time of Landlord’s receipt of such notice and at the expiration of the Original Lease Term; and (c) the original Tenant named herein or any Affiliate is itself occupying the entire Premises both at the time of giving the applicable notice and at the commencement of the Extension Period. If Tenant fails to timely Landlord shall receive notice of the exercise of the Option election in the manner and within the time provided aforesaid, the Original Lease Term shall be extended upon the receipt of the notice without the requirement of any action on the part of Landlord or Tenant. Except for the first Option Termamount of Base Rent (which is to be determined as hereinafter provided), all the Option terms, covenants, conditions, provisions and agreements in the Lease contained shall be applicable to the Extension Period, except that there shall be no further options to extend the Lease Term nor shall Landlord be obligated to make or pay for any improvements to the second Option Term Premises nor pay any inducement payments of any kind or nature. Landlord hereby reserves the right, exercisable by Landlord in its sole discretion, to waive (in writing) any condition precedent set forth in clauses (a), (b) or (c) above. Time is of the essence with respect to the exercise of the option contained herein. Tenant shall automatically terminate not have the right to give any notice exercising such option after the expiration of the applicable time limitation set forth herein, and any notice given after such time limitation purporting to exercise such option shall be void and 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.” 235283

Option to Extend Lease Term. (i) Paragraph 36(A) At the expiration of the Original original Term, Tenant may extend this 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, for two (2) options (each an “Option”) to extend the Lease Term, each for an additional term extended terms 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, each by giving Landlord written notice of its intention to Landlord no earlier than eighteen (18) months and no 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 cure period under the Lease on the date of giving such notice or on the then current date of commencement of such extended term. If Any termination of the Lease shall result in automatic termination of this option. Tenant’s right to extend the Lease Term provided herein is personal to Tenant fails to timely exercise the Option for the first Option Termand may not be assigned or otherwise transferred separate from this Lease; provided, however, the Option for foregoing shall not prohibit Tenant from assigning the second Option Term shall automatically terminate and be of no further force or effect. If right to extend to a Tenant timely exercises Affiliate pursuant to an Option for an Option Term, each assignment of the terms, covenants Lease permitted under Section 9.02. 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 Term of this Lease except this paragraph shall not apply during such Option Term as though extended term: (a) any right to rent-free possession; (b) any right to further extension of the expiration date term of such Option Term was the date originally Lease beyond the extended terms set forth herein as above; (c) any right to continue to pay the Expiration Date, provided same Base Rent; (d) any right to additional Tenant Allowance; and (f) the right to the continuation of any cap on Controllable Operating Expenses from the previous year (it being understood that the Base Monthly Rent to be paid Operating Expenses for the first twelve (12) months of each new extension term shall be ninety-five percent (95%the actual Operating Expenses without any cap and thereafter the cap set forth in Section 4.02(e) of shall apply. In no event shall the Fair Market Rental, Base Rent for any extended term be less than the Base Rent payable by Tenant during the full month immediately preceding the extended term. The Base Rent for each extended term shall be calculated as hereinafter defined, for the Premises for such Option Term.” 235283follows:

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.” 235283235287

Option to Extend Lease Term. (i) Paragraph 36(A) of Lessee shall have the Original right and option, which option shall not be severed from this Lease shall be modified by deleting the first three (3) sentences and replacing them with the following: “Landlord hereby grants to Tenantor separately assigned, upon and subject to the terms and conditions set forth in this paragraphmortgaged or transferred, two (2) options (each an “Option”) at its election, to extend the initial Lease Term, each Term for an one (1) additional term period of five (5) years (each, an the “Option TermExtension Period”), with ) commencing upon 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 initial Lease Term. Each Option Term , provided that (a) Lessor shall be exercised, if at all, by receive written notice to Landlord no earlier than eighteen from Lessee of the exercise of its election at least six (18) months and no later than twelve (126) months prior to the expiration date or the initial Lease Term, and (b) no default by Lessee beyond the expiration of any applicable notice and cure period shall exist at the time of Lessor’s receipt of such notice. If Lessor shall receive notice of the then current term. If Tenant fails to timely exercise of the Option election in the manner and within the time provided aforesaid, the Term of the Lease shall be extended for the first Option TermExtension Period upon the receipt of the notice without the requirement of any action on the part of Lessor or Lessee, the Option except as may be required in order to determine Base Rent as hereinafter provided. Except for the second Option amount of Base Rent (which is to be determined as hereinafter provided), all the terms, covenants, conditions, provisions and agreements contained in this Lease shall be applicable to the Extension Period, except that there shall be no further options to extend the Lease Term nor shall automatically terminate Lessor be obligated to make or pay for any improvements to the Premises nor pay any inducement payments of any kind or nature except as determined as applicable to the “fair market rent” as determined below. Lessor hereby reserves the right, exercisable by Lessor in its sole discretion, to waive (in writing) any condition precedent set forth in clauses (a) or (b) above. Time is of the essence with respect to the exercise of the option contained herein. Lessee shall not have the right to give any notice exercising such option after the expiration of the applicable time limitation set forth herein, and any notice given after such time limitation purporting to exercise such option shall be void and 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.” 235283