Common use of Option to Extend Lease Term Clause in Contracts

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of three (3) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Agreement of Lease (Convera Corp)

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Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this LeaseLease beyond all applicable cure periods, Tenant shall have the option to extend the Initial Term of this Lease for one two (12) additional period periods of three five (35) 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.

Appears in 1 contract

Samples: Agreement of Lease (Spectranetics Corp)

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease, Tenant shall have the option to extend the Initial Term of this Lease for one two (12) additional period periods of three five (35) 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.

Appears in 1 contract

Samples: Agreement of Lease (Osiris Therapeutics, Inc.)

Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this Lease, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of three five (35) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Commencement Date Agreement (Dialysis Corp of America)

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Option to Extend Lease Term. Provided Tenant is not in default of any term, covenant or condition of this LeaseLease beyond any applicable notice and cure period, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of the entire Premises for three (3) additional periods of five (5) years each (the "Renewal Term") to commence immediately upon the expiration of the Initial Term, the First Renewal Term and the Second Renewal Term, as applicable.

Appears in 1 contract

Samples: Agreement of Lease (Titan Corp)

Option to Extend Lease Term. Provided Tenant is not in default of any material term, covenant or condition of this LeaseLease after the expiration of any applicable notice and/or cure period, Tenant shall have the option to extend the Initial Term of this Lease for one (1) additional period of three five (35) years (the "Renewal Term") to commence immediately upon the expiration of the Initial Term.

Appears in 1 contract

Samples: Agreement of Lease (Integral Systems Inc /Md/)

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