OPTION TO EXTEND THE TERM. Landlord hereby grants to Tenant, upon and subject to the terms and conditions set forth in this paragraph, the option (the "Option") to extend the term of this Lease for an additional term (the "Option Term"), which Option Term shall be a period of sixty (60) months. The Option Term shall be exercised, if at all by written notice to Landlord on or before the date that is three (3) months prior to the expiration date of the initial term of the Lease. If Tenant exercises the Option. each of the terms, covenants and conditions of this Lease except this paragraph shall apply during the Option Term as though the expiration date of the Option Term was the date originally set forth herein as the expiration date of the initial term provided that the rent to be paid shall be the Fair Market Rental, as hereinafter defined, for the Premises for the Option Term. Anything contained herein to the contrary notwithstanding, if Tenant is in monetary or material non-monetary default under any of the terms, covenants or conditions of this Lease either at the time Tenant exercises the Option or at any time thereafter prior to the commencement date of the Option Term, Landlord shall have, in addition to all of Landlords other rights and remedies provided in this Lease, the right to terminate the Option upon notice to Tenant, in which event the expiration date of this Lease shall be and remain the expiration date of the initial term. As used herein, the term "Fair Market Rental" for the Premises shall mean the rental and all other monetary payments that Landlord could obtain during the Option Term from a third party desiring to lease the Premises for the Option Term taking into account the age of the Building, the quality of construction of the Building and the Premises, the services provided under the terms of this Lease, the rental and other monetary payments, and any escalations and adjustments thereto (including without limitation Consumer Price Indexing) then being obtained for new leases of space comparable to the Premises in the locality of the Building and all other factors that would be relevant to a third party desiring to lease the Premises If Tenant exercises the Option, Landlord shall send to Tenant a notice setting forth the Fair Market Rental for the Premises for the Option Term, on or before the date that is one hundred fifty (150) days prior to the expiration date of the initial term. If Tenant disputes Landlord's determination of the Fair Market Rental for th...
OPTION TO EXTEND THE TERM. OF THE CONTRACT (FAR 52.217-9) (MAR 2000)
OPTION TO EXTEND THE TERM. The parties hereby acknowledge and agree that Tenant did exercise the Option to Extend the Term of the Lease in accordance with the terms and conditions set forth in Addendum 1 of the Lease. Tenant further acknowledges and agrees that the Option to Extend the Lease as set forth in Addendum 1 is of no further force and effect, and Tenant does not have any additional rights under the Lease to further extend the Term of the Lease.
OPTION TO EXTEND THE TERM. OF THE CONTRACT (MAR 2000) (NAVSEA VARIATION) (APR 2015)
OPTION TO EXTEND THE TERM. OF THE CONTRACT (MAR 2000) para.(a) fill-in: . . .no later than thirty (30) days before the end of the ordering, period. . .its intent to extend at least thirty (30) days. . . para (c) fill in: shall not exceed sixty (60) months.
OPTION TO EXTEND THE TERM. Tenant shall have the option to extend the Term for a period of six (6) months. If Tenant exercises said option, Tenant shall have the right to extend the Term for a second extension period of six (6) months. The first such extension shall be referred to in this Lease as the "First Extended Term," the second such extension shall be referred to as the "Second Extended Term," and each such extension shall be referred to as an "Extended Term." If Tenant wishes to exercise an option to extend the Term, Tenant shall deliver written notice of such exercise to Landlord no later than 30 days before the expiration of the Term. If not exercised in this fashion, such options shall expire and be of no further effect. If one or more of said options are exercised, the "Term" shall be deemed to include the Initial Term and the Extended Term(s) as to which options are exercised and shall end on the last day thereof, unless sooner terminated pursuant to the terms of this Lease. The option is personal to Tenant and shall not be assigned except as provided below.
OPTION TO EXTEND THE TERM. Provided that Tenant has not defaulted in performing and failed to cure any of its obligations under the Lease as amended, and is not in default at the time of its exercise of this option, Tenant shall have the option, during the 1st Extension Term only, to extend the Term ("Extension Option") for an additional five (5) year period only ("2nd Extension Term") upon all of the following conditions:
OPTION TO EXTEND THE TERM. Sublessee shall have the option to extend the Term for an additional term ending on June 30, 2011 (the "Extended Term") upon the same terms, covenants and conditions set forth in this Sublease, except that the minimum Monthly Base Rent for the Extended Term shall be an amount equal to the greater of (i) the Monthly Base Rent for year 9 through the end of the Term, or (ii) an amount equal to ninety-five percent (95%) of the Fair Rental Value (as defined in Section 5.2 below) of the Sublease Premises as of the date on which Sublessee delivers the "Exercise Notice" (as hereinafter defined). Sublessee's option to extend the Term may be exercised only by delivery to Sublessor of written notice (the "Exercise Notice") of such exercise by Sublessee no earlier than one year and no later than six months prior to the expiration of the initial Term. Notwithstanding the above, Sublessee's right to extend the Term shall be conditioned upon Sublessee not being (i) in default (whether or not subsequently cured) under the Sublease more than one time per year during the Term; or (ii) in default either at the time of Sublessee's exercise of the option or at the time of the commencement of the Extended Term. In the event of any such default or any purported exercise of the option to extend the Sublease delivered prior to one year or later than six months before the expiration of the Term, such purported exercise shall be null and void and the term of this Sublease shall expire at the end of the Term. Fair Rental Value shall be determined in accordance with the procedures of Section 5.3 of this Sublease, with the thirty-day period referred to in subsection 5.3.1. commencing on the date of the Exercise Notice.
OPTION TO EXTEND THE TERM. Landlord grants to Tenant ------- ---- ------------------------- options to renew this Lease for six (6) separate but consecutive five (5) year terms. In order to exercise any such option the Tenant must be in full compliance with the terms of the Lease and must notify Landlord in writing at least one hundred eighty (180) days prior to the expiration of the then current term. The rates for the option periods are set forth on Schedule I attached ---------- hereto and made a part hereof. Tenant shall pay full Additional Rent (as described in Section 4.02) during any extension period. The Initial Term and any extended term may be referred to herein as the "Demised Term".
OPTION TO EXTEND THE TERM of the Contract (April 1996)
