Options to Extend Term. Tenant shall have two (2) options (each, an “Option”) to extend the Term by five (5) years each as to the entire Premises (and no less than the entire Premises) upon the following terms and conditions. Any extension of the Term pursuant to an Option shall be on all the same terms and conditions as this Lease, except as follows:
Options to Extend Term. Tenant shall have the option to extend the Term of this Lease for Phase 1A and Phase 1B only (but not Phase 2A), at the Minimum Rental set forth in Section 3.1(b) and (c), below, and otherwise upon all the terms and provisions set forth herein with respect to the initial term of this Lease, for up to two (2) additional periods of ten (10) years each, the first commencing upon the expiration of the initial term hereof and the second commencing upon the expiration of the first extended term, if any. Exercise of such option with respect to the first such extended term shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the initial term hereof, exercise of such option with respect to the second extended term, if the first extension option has been duly exercised, shall be by written notice to Landlord at least eighteen (18) months prior to the expiration of the first extended term hereof. If Tenant is in material default hereunder, beyond any applicable notice and cure periods, on the date of such notice or on the date any extended term is to commence, then the exercise of the option shall be of no force or effect, the extended term shall not commence and this Lease shall expire at the end of the then current term hereof (or at such earlier time as Landlord may elect pursuant to the default provisions of this Lease). If Tenant properly exercises one or more extension options under this Section, then all references in this Lease (other than in this Section 2.6) to the “term” of this Lease shall be construed to include the extension term(s) thus elected by Tenant. Except as expressly set forth in this Section 2.6, Tenant shall have no right to extend the Term of this Lease beyond its prescribed term.
Options to Extend Term. Tenant is given the option to extend the Initial Terms, respectively, as set forth herein, on all of the provisions contained herein by giving notice of exercise (the "Option Notice") to Landlord not more than 360 days and not less than 270 days before the Expiration of the respective Initial Terms or Extended Terms of the Lease. Tenant shall have two 5-year extension options for the Bank Branch and three 5-year options for the rest of the Building (respectively "Option Terms"). As for the rest of the Building, Tenant may exercise its option to extend the term for some or all of the Rentable Area in increments as set forth below, at Tenant's sole discretion, provided that if Tenant has previously returned any of such Rentable Area to Landlord, Tenant shall be deemed to have surrendered its right to relet such space pursuant to the options contained herein. In determining the portions of the second and third floors of the Building as to which Tenant may exercise its option, such portion (a) may not be less than 2,500 square feet of Rentable Area or such other amount as may be agreed to by both Landlord and Tenant in writing; (b) must not leave less than 2,500 square feet of Rentable Area on any floor of the Building, or such other amount as may be agreed to by both Landlord and Tenant in writing; (c) must be contiguous to any other portion leased on the same floor; (d) must leave a remainder on any floor which is, and must itself be, in compliance with all applicable building and fire codes, governmental laws, regulations or restrictions; and (e) may not be split between the second and third floors unless all of one of those floors is leased by Tenant. Provided, however, that, with respect to the first floor of the Building, Tenant may only exercise its option for either the Bank Branch or the entire first floor. If Tenant is in default on the date of giving the Option Notice beyond any time to cure such default allowed by statute or created under this Lease, whichever is greater ("Cure Period"), the Option Notice shall be totally ineffective, or if Tenant is in default beyond any Cure Period on the date the Extended Term is to commence and does not cure the default within the Cure Period, the Extended Term shall not commence and this Lease shall expire at the end of the Initial Term or Extended Term if the Term has been previously extended.
Options to Extend Term. Tenant shall have two (2) options (each an "Extension Option") to extend the Term of this Lease for a period of five (5) years each (each an "Extension Period"), on the same terms and conditions in effect under this Lease immediately prior to the commencement of the Extension Period, except that (a) Tenant shall have no further right to extend the Term of this Lease after the second Extension Period, (b) the Base Rent payable during the Extension Period shall be an amount equal to Base Rent in effect immediately prior to the Extension Period, increased by [***] percent ([***]%) on an annual basis.
Options to Extend Term. Tenant shall have options (each, an “Option”) to extend the Term of this Lease upon the following terms and conditions:
Options to Extend Term. (a) New Albertson’s as the Receiving Party shall have ten (10), and SVU as the Receiving Party shall have ten (10), consecutive options to extend the TSA for a period of one (1) year each on the terms and conditions (including, without limitation, payment timing and fee arrangements) contained in the TSA. Such extension terms shall be exercised, if at all, by the Receiving Party giving written notice to the Service Provider twelve months preceding the extension term being exercised. For such exercise to be valid, the Receiving Party must (i) not be in default under the TSA as of the date of the notice of exercise or as of January 1 of the extension term being exercised, and (ii) be in compliance with the Dispute Resolution Process set forth in Exhibit C hereto.
Options to Extend Term. A. Landlord hereby grants to Tenant 1 option(s) (the "Option(s)") to extend the Lease Term for additional term(s) of four (4) years each (the "Extension(s)"), on the same terms and conditions as set forth in the Lease, but at an increased rent as set forth below. Each Option shall be exercised only by written notice delivered to Landlord at least one hundred twenty (120) days before the expiration of the Original Term or the preceding Extension of the Original Term, respectively. If Tenant fails to deliver Landlord written notice of the exercise of an Option within the prescribed time period, such Option and any succeeding Options shall lapse, and there shall be no further right to extend the Original Term. Each Option shall be exercisable by Tenant on the express conditions that (a) at the time of the exercise, and at all times prior to the commencement of such Extension, Tenant shall not be in default under any of the provisions of this Lease and (b) Tenant has not been ten (10) or more days late in the payment of rent more than a total of three (3) times during the Original Term and all preceding Extensions.
Options to Extend Term. Licensee must exercise its options to extend ---------------------- the Term by delivering written notice thereof to Licensor not later than six (6) months prior to the expiration of the Term, or any extension of the Term. Notwithstanding anything herein to the contrary, Licensee shall have no right to exercise any option to extend the Term if (a) at the time of purported exercise of an option, Licensee is in default under this Agreement, or (b) during any Year of the Term, including any option period, Licensee received more than two notices of default from Licensor, regardless of whether such defaults were cured.
Options to Extend Term. (a) Tenant shall have one option (the Extension Option) to extend the Term for three (3) years for the entire Premises by giving Landlord prior written notice of Tenant's election to exercise this option not less than two hundred ten (210) days before the expiration of the Term as the same may have been extended. However, if there exists an uncured default on Tenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Landlord may cancel Tenant's exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. Each Extension Option shall be on all the same terms of this Lease provided that the Monthly Rent for each such Option Period shall be increased in accordance with Section 42 of this Lease.
Options to Extend Term. Landlord and Tenant hereby agree and acknowledge that following the Extended Expiration Date, Tenant shall have two additional options to extend the Term for two (2) Option Terms of five (5) years each, on the terms and conditions set forth in Section 30 of the Lease.
