Common use of Options to Extend Term Clause in Contracts

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.

Appears in 1 contract

Samples: Letter and Construction Agreement (Improvenet Inc)

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Options to Extend Term. (a) Tenant shall have one option two (2) options (the Extension OptionOption(s)) to extend the Term for three (3) years each ("Option Period") for the entire Premises by giving Landlord prior written notice of Tenant's election to exercise this option not less than two hundred ten twelve (21012) days months 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.

Appears in 1 contract

Samples: Kana Communications Inc

Options to Extend Term. (a) Tenant shall have one the option (collectively the "Extension OptionOptions") to extend the Term for three two additional periods of five (35) years for the entire Premises each (each an "Option Period") by giving Landlord prior written notice of Tenant's election to exercise this option not more than eighteen (18) months before the expiration of the Term as the same may have been extended and not less than two hundred ten fifteen (21015) days months before the expiration of the Term as the same may have been extended. However, ; provided that 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 determined in accordance with Section 42 of this Lease.

Appears in 1 contract

Samples: Office Lease (Regan Holding Corp)

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Options to Extend Term. (a) Tenant Subtenant shall have one option ---------------------- (the Extension Option) to extend the Term for three five (35) years for the entire Premises by giving Landlord Sublandlord prior written notice of TenantSubtenant's election to exercise this option not less than two hundred and ten (210) days before the expiration of the Term as the same may have been extendedTerm. However, if there exists an uncured default Default or Breach on TenantSubtenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Landlord Sublandlord may cancel Tenant's Subtenants 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 The Extension Option shall be on all the same terms of this Lease Sublease provided that the Monthly Minimum Rent for each such Option Period shall be increased in accordance with Section 42 21 of this LeaseSublease.

Appears in 1 contract

Samples: Sublease Agreement (Andromedia Inc)

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