Common use of Renewal Options Clause in Contracts

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. Provided that (1) So long as there is no uncured default hereunder by Tenant is not in default under this Leaseas of the date of Tenant's exercise of any Renewal Option or as of the date of the commencement of any Renewal Term, Tenant shall have be entitled and is hereby granted two (2) successive options (the option "Renewal Options") to extend the Initial Term for an additional period of five (5) years each (the "Renewal Terms"). Except for Base Rent, as hereinafter defined and separately provided for, the Renewal Terms shall be on all the other terms and conditions of this Lease perpetuallyLease; provided, for renewal term(s) of one however, that (1) year each (each, a "Renewal Term"i) upon the exercise of the first Renewal Option Tenant shall have only one remaining Renewal Option and upon its exercise of the second Renewal Option Tenant shall have no further right or option to renew or extend the Term without Landlord's written mutual agreement of both consent, which may be withheld in Landlord's sole discretion, and (ii) Landlord and shall not have any obligations to make any improvements or otherwise provide any inducement to Tenant. Tenant shall exercise its option to renew each Renewal Option, if at all, only by giving Landlord written notice of such exercise to Landlord not less than 90 days six (6) months, nor more than twelve (12) months, prior to the expiration of the Initial Term or the first Renewal Term then in effect Term, as the case may be. If Should Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure fail to timely exercise an a Renewal Option in accordance with the preceding provisions, then the Term shall expire and this Lease shall terminate at the end of the Initial Term or the current Renewal Term, as applicable, and Tenant shall have no further right or option to renew and Tenant shall then have fifteen days from receipt of Landlordor extend the Term. Tenant's notice within which to provide the notice of exercise of such renewal which, if then timely provided, a Renewal Option shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Termirrevocable.”

Renewal Options. Provided that Tenant is not in default under this LeaseDefault at the time of the exercise of the Renewal Option or at the commencement of the applicable Renewal Term (as defined herein) and provided that Tenant or a Permitted Transferee has continuously occupied a minimum of fifty percent (50%) of the Premises for the Permitted Use during the Term and the first Renewal Term, if applicable, Tenant or a Permitted Transferee (but not any other unrelated third party, assignee or sublessee) shall have the right and option to extend (the Initial Term of this Lease perpetually, for renewal term(s“Renewal Option”) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice the Lease for all or a portion of the Premises as then configured, but in any event not less than 90 days 60,000 rentable square feet as then configured, for two (2) separate, additional either five (5) or seven (7) year periods at the election of Tenant (each a “Renewal Term”), by written notice (“Renewal Notice”) delivered to Landlord, which notice shall specify the intended length of the applicable Renewal Term), no earlier than fifteen (15) months and no later than twelve (12) months prior to the expiration of the Initial Term Term, or the first Renewal Term then in effect Term, as the case may be. If Tenant fails to exercise its options , under the same terms, conditions and covenants contained in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, except that: (a) no abatements or other concessions, if any, applicable to the initial Term or the first Renewal Term, if applicable shall apply to the Renewal Term; (b) the Monthly Base Rent, tenant improvements and other leasing concessions shall be equal to the transaction terms for comparable office space of comparable age, type, size and quality being offered in the central business district of Denver, Colorado as extended by any of the end of the Term, or first Renewal Term(s)Term, if applicable, as determined by Landlord and Tenant as set forth hereafter (“Market Rate”); (c) Tenant shall hereinafter have no Renewal Option beyond the expiration of the final Renewal Term; (d) all leasehold improvements within the Premises shall be referred provided in their then existing condition (on an “as is” basis) at the time the applicable Renewal Term commences; and (e) monthly parking charges will reflect the then market rate effective at the time of the commencement of the applicable Renewal Term. In the event Tenant properly exercises its Renewal Option and renews the Lease for a minimum of ninety percent (90%) of the originally leased Premises, then Tenant shall retain all signage rights as described in and subject to as the "Term.”provisions of Article 12.2

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have two (2) options to renew (each a “Renewal Option”) the option to extend the Initial Term term of this Lease perpetuallyfor five (5) years each. The first Renewal Option, for renewal term(s) of one (1) year each (eachif exercised at all, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew be exercised by giving Landlord written notice to Landlord given not less than 90 days six (6) months prior to the expiration of the Initial Term or fifth (5th) Lease Year (time being of the essence). The second Renewal Term then in effect as Option, if exercised at all, shall be exercised by written notice to Landlord given not less than six (6) months prior to the case may beexpiration of the tenth (10th) Lease Year (time being of the essence). If Notwithstanding the foregoing, if Tenant fails to exercise its a Renewal Option as aforesaid, then Tenant shall have no options in to extend the time periods or in Term, unless otherwise agreed to by Landlord. All references to the manner provided herein“Term” of this Lease shall, such options unless the context shall clearly indicate a different meaning, be deemed to have lapsedinclude any extension of the Term (the “Renewal Term”) resulting from Tenant’s valid exercise of a Renewal Option. If Tenant exercises a Renewal Option, terminated and then the parties shall be continue to perform all of no further force or effect without any further action or notice required on their respective obligations under this Lease during the part of LandlordRenewal Term applicable to such Renewal Option; provided, however, before that during each Renewal Term: (a) the Base Rent for the first Lease Year of such termination becomes effective, Landlord Renewal Term shall be increased to an amount one hundred two and one half percent (102.5%) of the Base Rent payable during the immediately preceding Lease Year; (b) the Base Rent for each succeeding Lease Year of such Renewal Term (after the first make a good faith effort year) shall be increased to notify Tenant an amount one hundred two and one half percent (102.5%) of Tenant's failure to timely exercise an option to renew the Base Rent payable during the immediately preceding Lease Year; and (c) Tenant shall then have fifteen days from receipt of Landlord's notice within which continue to provide pay the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms Tax and conditions of this Lease shall remain Operating Expense Rent as provided in full force and effect Article IV (Rent) below during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have two separate options (the option "Renewal Options") to extend the Initial Term term of this Lease perpetually, for renewal term(sa period of three (3) of one (1) year each years (each, a "Renewal Term") upon written mutual agreement ). No Renewal Option shall be effective if Tenant is in default under any of both Landlord and Tenantthe terms or conditions of this Lease, either at the time of exercise of the Renewal Option or the time of commencement of the applicable Renewal Term, unless such default is cured prior to the expiration of any applicable cure period. Tenant shall exercise its option to renew The first Renewal Option must be exercised, if at all, by giving Landlord written notice from Tenant to Landlord given not more than fifteen (15) months nor less than 90 days twelve (12) months prior to the expiration of the Initial Term or initial term of this Lease and the second Renewal Option must be exercised, if at all, by written notice from Tenant to Landlord given not more than fifteen (15) nor less than twelve (12) months prior to the expiration of the first Renewal Term. Such notice given by Tenant to Landlord shall be irrevocable. The Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on upon the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the same terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth hereinthe original term, except that the Termination Date shall be annual Base Rent applicable beginning upon the last day commencement of the Renewal Term shall be equal to the Renewal Rate, determined as provided in Exhibit E attached hereto, which in any event shall not be less than the annual Base Rent payable (without consideration of any rental abatement in connection with damage or destruction) as of the lease year immediately preceding the applicable Renewal Term (provided that, to the extent applicable, any rental abatement then in effect, unless sooner terminated as provided herein. The Initial Term of this Leaseeffect shall continue, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as during the "Renewal Term).”

Renewal Options. Provided that Tenant shall have, and is not in default under hereby granted, the options (the “Renewal Options”) to extend the Term of this LeaseLease Agreement for two (2) additional periods of five (5) years each (as applicable, the “Extended Term”) upon and subject to the following terms, conditions and provisions: A. The Renewal Options may only be exercised by Tenant giving irrevocable written notice thereof to Landlord no earlier than fourteen (14) months nor later than nine (9) months prior to the expiration of the then current Term of this Lease Agreement. If Tenant fails to give Landlord such written notice of exercise of such Renewal Option within such specified time period, Tenant shall be deemed to have elected not to exercise, and to have waived, such Renewal Option and the Renewal Option shall automatically terminate and expire and be of no further force and effect. It is expressly agreed that Tenant shall not have the option to extend the Initial Term of this Lease perpetuallyAgreement beyond the Extended Term. If Tenant exercises either of the Renewal Options, for renewal term(s) of one (1) year each (each, a "Renewal Term") such Extended Term shall commence immediately upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial then current Term or of this Lease Agreement (as applicable, the “Extended Term Commencement Date”). B. If Tenant exercises either of the Renewal Options (in accordance with and subject to the provisions of this Section 49), the Extended Term then shall be upon, and subject to, all of the terms, covenants and conditions provided in effect this Lease Agreement except for any terms, covenants and conditions that are expressly or by their nature inapplicable to the Extended Term (including, without limitation, the right to renew the Term of this Lease Agreement beyond the Extended Term) and except that (i) the annual Base Rent during the applicable Extended Term shall be equal to the Prevailing Market Rental Rate (as defined and determined in accordance with Section 50 below) at the case may be. If time Tenant fails to exercise its options exercises such Renewal Option, and (ii) the Leased Premises and all leasehold improvements relating thereto will be provided in the time periods or in condition they exist (i.e., “AS IS” and “WITH ALL FAULTS”) on the manner provided hereinExtended Term Commencement Date, such options and this Lease Agreement shall be deemed to have lapsed, terminated been automatically amended as of the Extended Term Commencement Date in accordance with this Section 49. Tenant and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have promptly (but in no event longer than fifteen (15) days from receipt of after Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All ’s submission of the terms amendment to Tenant) execute and conditions deliver an appropriate amendment of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day Agreement to evidence such terms following commencement of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Extended Term.”

Renewal Options. Provided that Tenant is not in default under this Lease, (a) Tenant shall have the option to extend the Initial Term of renew this Lease perpetually(“Renewal Option”) with respect to the entirety of the Premises (and including, if applicable, the entirety of the Expansion Premises taken pursuant to Rider 2) for renewal term(stwo (2) consecutive additional terms of one five (15) year years each (each, each a "“Renewal Term") ”), commencing upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial initial Term or the first Renewal Term then in effect Term, as applicable. Each Renewal Option must be exercised, if at all, by written notice given by Tenant to Landlord not later than twelve (12) months prior to commencement of the case may beRenewal Term. If Tenant fails properly exercises a Renewal Option, then references in this Lease to exercise its options in the time periods or in the manner provided herein, such options Term shall be deemed to have lapsedinclude the Renewal Term. Tenant’s rights under this Section 2.6 shall, terminated and shall be of no further force or effect without any further action or notice required on at the part option of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew be null and void and Tenant shall then have fifteen days from receipt of Landlord's notice within which no right to provide renew this Lease if on the notice of exercise of such renewal whichdate Tenant exercises a Renewal Option or on the date immediately preceding the [ * ] = Certain confidential information contained in this document, if then timely providedmarked by brackets, shall be deemed an effective renewal of this Lease. All has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the terms and conditions Securities Exchange Act of this Lease shall remain in full force and effect during any Renewal Term(s)1934, as amended. If Tenant exercises its options as set forth herein, the Termination Date shall be the last day commencement date of the a Renewal Term then in effect(i) a Default beyond the applicable cure period shall have occurred and be continuing hereunder, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(sor (ii) the named Tenant hereunder or pursuant to a Permitted Transfer (defined below), if applicablea Tenant Affiliate, shall hereinafter be referred to as does not occupy the "Termentire Premises.”

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant (a) XXXX shall have the option to extend the Initial Term of this Lease perpetually, Agreement for renewal term(stwo (2) consecutive additional periods of one ten (110) year years each (each, each of which periods is hereinafter referred to as a "Renewal TermPeriod") upon written mutual agreement ), provided that XXXX is not in default under this Agreement either at the time of both Landlord and Tenantexercising such option or at the commencement of the respective Renewal Period. Tenant XXXX shall exercise its option the aforesaid options to renew renew, in each instance, by giving Landlord PRPA written notice not less than 90 at least 180 days prior to the expiration end of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term Period then in effect, unless sooner terminated as provided hereinapplicable. Each Renewal Period shall begin on the day immediately following either the end of the Term or the last day of the prior Renewal Period, as applicable. In the event XXXX shall fail to exercise its option with regard to any Renewal Period in a timely manner, XXXX'x rights hereunder with regard to such Renewal Period and any subsequent Renewal Period shall immediately and irrevocably terminate. The Initial terms and conditions applicable in each Renewal Period shall be those specified for the Term of this LeaseAgreement, except for the compensation due from XXXX to PRPA for such Renewal Period and the amount of the Letter of Credit (as extended hereinafter defined) required to be delivered by any XXXX, which items shall be established as set forth in subsection (c) below, and except that upon the expiration of the second Renewal Term(sPeriod, XXXX shall have no further right to extend the Term unless XXXX has been granted additional renewal rights as set forth in Subsection 2.3(b), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. Provided that Tenant is not Upon the expiration of the Term as set forth in default under this LeaseArticle 1(c), Tenant shall have the right and option to extend the Initial Term at its election for either 1 – 10 year term or 3 – 5 year terms, such election to be made by Tenant in Tenant’s written notice of this Lease perpetually, for renewal term(s) exercise of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord the first option period. The right and Tenant. Tenant shall exercise its option to renew extend the term of the Lease shall be subject to and contingent upon the conditions set forth hereinafter. Tenant’s right and option to extend the Term shall be exercisable by Tenant giving Landlord written notice not less than 90 days of the exercise of the right and option to Landlord at least 12 months prior to the expiration of the Initial Term or Term. In the Renewal Term then in effect as the case may be. If event Tenant fails to give written notice of its intent to exercise its any option as provided above, all of Tenant’s right and options in to extend the time periods or in the manner provided herein, such options Term shall be deemed to have lapsed, terminated been waived by Tenant and shall be of no further force or effect without any further action effect. In the event Tenant exercises its right and option(s) in accordance with the provisions hereof, the Term shall be extended accordingly (subject to Tenant’s rescission right as set forth below), and all the references contained in the Lease to the Term, whether by number of years or notice required on the part number of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely providedmonths, shall be deemed an effective renewal construed to refer to the original term of this the Lease, as extended, whether or not specific reference is made thereto in the Lease. All of Unless otherwise expressly provided to the terms contrary, the extended Term shall be upon the same terms, conditions, and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options covenants as set forth herein, in the Termination Date Lease except that there shall be no further right or option to extend the last day term of the Renewal Term then in effectLease after the 10 year option term or after the third 5 year option term, unless sooner terminated as provided hereinthe case may be. The Initial time within which the option(s) must be exercised and the reply times in this Section 33 are hereby made of the essence. The right and option(s) to extend the Lease Term shall be subject to and contingent upon each and every one of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”following conditions:

Renewal Options. Provided that the Tenant is in not in default under this and has faithfully performed its obligations pursuant to the Lease, the Tenant shall have the option (the "First Renewal Option"), exercisable by notice in writing to extend be served upon the Initial Term of this Lease perpetually, for renewal term(sLandlord not later than the date falling six (6) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days months prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided hereinof this (Lease, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days this Lease for a further term of three (3) years (the "First Renewal Term") from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All expiration of the initial Term hereof upon the same terms and conditions as are contained herein (except for the provisions of D1 and D2 above, the provisions of Section 2.3, 2.4 and 2.5 of the Lease, this Lease shall remain in full force option and effect during any Minimum Rent) and at such Minimum Rent as may be negotiated and agreed upon by and between the Landlord and the Tenant within ninety (90) days following the date of the exercise of the First Renewal Term(s)Option. If the Landlord and Tenant exercises fail to reach agreement as to the amount of Minimum Rent to be paid during the First Renewal Term within the time limited aforesaid, then a single arbitrator shall determine the Minimum Rent. Such single arbitrator shall proceed to hear and determine the matter of such Minimum Rent for, accordance with provisions of the Commercial Arbitration Act, British Columbia, as amended from rime to time, on the basis of fair market rent payable with respect to similarly improved premises of similar size, quality, use and location. The arbitrator's decision shall be final and binding upon each of the parties hereto and shall not be capable of appeal or other judicial review always provided that the monthly Minimum Rent payable in the First Renewal Term shall not be less than the monthly Minimum Rent paid during the last month of the current Term. Provided that the Tenant has exercised the First Renewal Option and is not in default and has faithfully performed its options as set forth hereinobligations pursuant to the Lease, the Termination Date Tenant shall have the option (the "Second Renewal Option"), exercisable by notice in writing to be served upon the last day Landlord not later than the date falling six (6) months prior to the expiration of the First Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, to renew this Lease for a further term of .three (3) years (the "Second Renewal Term") from the expiration of the First Renewal Term upon the same terms and conditions as extended are contained in the Lease (except for the provisions of D1 and D2 above, the provisions of Section 2.3, 2.4 and 2.5 of the Lease, the First Renewal Option, this option and Minimum Rent) and at such Minimum Rent as may be negotiated and agreed upon by any and between the Landlord and the Tenant within ninety (90) days following the date of the exercise of the Second Renewal Term(sOption. If the Landlord and Tenant fail to reach agreement as to the amount of Minimum Rent to be paid during the Second Renewal Term within the time limited aforesaid, then a single arbitrator shall determine the Minimum Rent. Such single arbitrator shall proceed to hear and determine the matter of such Minimum Rent in accordance with provisions of the Commercial Arbitration Act, British Columbia, as amended from time to time, on the basis of fair market rent payable with respect to similarly improved premises of similar size, quality, use and location. The arbitrator's decision shall be final and binding upon each of the parties hereto and shall not be capable of appeal or other judicial review always provided that the monthly Minimum Rent payable in the Second Renewal Term shall not be less than the monthly Minimum Rent paid during the last month of the First Renewal Term. Dominion/Investors/Trillium Lease Xxxx & Company SCHEDULE "E" GUARANTY THIS GUARANTY is made as of this 5th day of March, 2001 by Intel Corporation ("Guarantor"), if applicableto and for the benefit of Dominion Construction Company Inc. (as to an undivided 1/4 interest) and 391102 B.C. Ltd. (as to an undivided 3/4 interest) and their respective successors and assigns as landlord ("Landlord") under that certain lease ("Lease") dated March 5, shall hereinafter be referred 2001, between the Landlord and Trillium Digital Systems Canada, Ltd., a wholly owned subsidiary of Guarantor, as tenant ('Tenant"), relating to as the certain premises ("Term.”Premises") located at 0000 Xxxxxx Xxx, Xxxxxx Way Business Park, Burnaby, B.C.

Renewal Options. (a) Provided that Tenant no Event of Default has occurred and is not in default under this Leasethen continuing, Tenant shall have the right and option to extend the Initial Primary Term of this Lease perpetuallyfor two (2) consecutive, for renewal term(sadditional periods of five (5) of one (1) year years each (each, a "the “First Renewal Term"” and the “Second Renewal Term”, respectively, and, collectively, the “Renewal Terms”) upon written mutual agreement of both Landlord and Tenantin accordance with this Special Stipulation 2. If Tenant does not extend the Primary Term for the First Renewal Term, it shall exercise its have no right to extend the Term for the Second Renewal Term. The option to renew for the First Renewal Term may be exercised by giving Landlord Tenant by written notice given to Landlord not more than fifteen (15) or less than 90 days nine (9) months prior to the expiration end of the Initial Term or the Renewal Term then in effect as the case may bePrimary Term. If Tenant fails properly exercises its right to exercise its options in the time periods First Renewal Term, the option for the Second Renewal Term may be exercised by Tenant by written notice given to Landlord not more than fifteen (15) or in less than nine (9) months prior to the manner provided herein, such options shall be deemed end of the First Renewal Term. Subject to have lapsed, terminated the terms of subsections (b) and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal (c) of this Lease. All Special Stipulation 2, all of the terms and conditions provisions of this Lease shall remain in full force govern and effect during be applicable to the Renewal Terms (with the exceptions that (i) Landlord will have no obligation to construct any Renewal Term(s). If Tenant exercises its options as set forth hereinimprovements, the Termination Date shall be the last day provide any allowances or grant any rental abatement prior to commencement of accrual of Base Rent or Additional Rent for either of the Renewal Terms, and (ii) there will be no renewal of the Term then (other than the Renewal Terms) if Tenant timely exercises its right to extend the Term in effect, unless sooner terminated as provided herein. The Initial Term of accordance with this Lease, as extended by any Renewal Term(ssubsection (a), if applicable, shall hereinafter be referred to as the "Term).”

Renewal Options. Provided that Tenant Subtenant is not then in default under of this LeaseSublease as of the date of the applicable Renewal Notice and the commencement of the applicable Renewal Term (and has not ever been in default of this Sublease beyond any applicable notice and cure period), Tenant Subtenant shall have the option successive options (each, a “Renewal Option”) to extend the Initial Term term of this Lease perpetually, Sublease for renewal term(sthree (3) additional periods of one (1) year each (each, a "“Renewal Term"”) on the same terms and conditions of this Sublease as are provided for in the initial term of this Sublease, except as provided below in this Section 16.4, and without any free rent periods or tenant improvement allowances. Each Renewal Term shall commence upon the date of expiration of the initial term of this Sublease or prior Renewal Term, as the case may be. To exercise its Renewal Option, Subtenant must give written mutual agreement notice (each, a “Renewal Notice”) to Sublandlord that Subtenant is exercising its applicable Renewal Option at least twelve (12) months (but not earlier than eighteen (18) months) before the date of both Landlord and Tenantexpiration of the initial term of this Sublease or prior Renewal Term, as the case may be. Once such notice is delivered to Sublandlord, such notice shall be irrevocable by Subtenant. Time is of the essence with respect to the giving of each Renewal Notice. Upon the giving of the last Renewal Notice for a Renewal Term, or upon the failure of Subtenant to timely give a Renewal Notice, Subtenant shall have no further right or option to extend or renew the term of this Sublease. Tenant acknowledges and agrees that notwithstanding anything to the contrary in this Sublease, the right to exercise each Renewal Option shall not extend to any assignee (other than an assignee pursuant to a Permitted Transfer (as that term is defined in Section 12.6 of the Original Xxxxxxxxx) or sub-subtenant of Subtenant, or to any space assigned or sub-subleased by Subtenant, and any attempt to exercise its option any 126547966 v6 Renewal Option by any such assignee or sub-subtenant, or by Subtenant in connection with such assigned or sub-subleased space, shall be deemed null and void. The applicable Renewal Option may be exercised with respect to renew by giving Landlord written notice not less the entire Sublease Premises only. Notwithstanding anything to the contrary contained herein, Subtenant shall only have the right to exercise the second (2nd) and third (3rd) Renewal Options if Sublandlord mutually agrees to such renewal in writing. Commencing no sooner than 90 days eighteen (18) months prior to the expiration of the Initial 1st Renewal Term or the 2nd Renewal Term then in effect (as the case may be. If Tenant fails ), Subtenant shall have the right to exercise its options in request Sublandlord’s intention as to whether or not Sublandlord will approve the time periods 2nd and 3rd Renewal Options and, if Sublandlord shall fail to respond by the twelfth (12th) month prior to the commencement of the applicable 2nd or in 3rd Renewal Term (or if Sublandlord otherwise notifies Subtenant that the manner provided hereinsecond (2nd) and/or third (3rd) Renewal Options are not agreeable to Sublandlord), such options then Sublandlord shall be deemed to have lapsedrejected Subtenant’s request and Subtenant shall have no right to the applicable Renewal Option for the 2nd or 3rd Renewal Term (and if Sublandlord rejects or is deemed to reject Subtenant’s request for the 2nd Renewal Term, terminated and then Subtenant shall be of have no further force right with respect to a Renewal Option for either the 2nd or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any 3rd Renewal Term(sTerm). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of The Sublease Base Rental Rate for the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Terms shall be: $477,225.40 per annum for the first (1st) Renewal Term(s), if applicable, shall hereinafter be referred to as Term; $491,542.16 per annum for the "second (2nd) Renewal Term; and $506,288.43 per annum for the third (3rd) Renewal Term.”

Renewal Options. Provided that If this Lease shall not have been terminated pursuant to any provision hereof, and provided there shall then exist no Event of Default under this Lease or event or condition which, with the lapse of the applicable grace period (unless Tenant is not in default using and continues to use until completion, diligent and good faith efforts to correct such event or condition), would mature into an Event of Default under this Lease, Tenant shall have the option to extend the Initial Term of renew this Lease perpetually, (the "Renewal Option") for renewal term(stwo (2) additional terms of one five (15) year years each (each, a each an "Renewal Extended Term") ), upon written mutual agreement the same terms and conditions as in the initial Lease Term except that the Base Rent for the renewal term shall be a mutually agreed upon negotiated rental rate. The Renewal Option must be for all of both the Premises leased by Tenant on the date that Tenant gives notice to Landlord and Tenantof its exercixx xx the Renewal Option. Tenant shall exercise its option to renew by giving give Landlord written notice not less than 90 days nine (9) months or more than twelve (12) months notice of Tenant's intent to renew prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may beapplicabxx xxxm. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any either Renewal Term(s). If Tenant exercises its options as set forth hereinOption is exercised, the Termination Expiration Date shall be mean the last day of the renewed Lease Term. Landlord shall not provide any tenant improvement work or allowance for any exercised Renewal Term then in effect, unless sooner terminated as provided hereinOption. Tenant shall not be entitled to exercise its second Renewal Option if Tenant has not exercised its First Renewal Option. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, Base Year for each renewal term shall hereinafter be referred to as the "Termcalendar year in which such renewal term first commences.”

Renewal Options. Provided (a) As long as an Event of Default has not occurred, or if an Event of Default has occurred that it is not then continuing, and subject to the conditions hereinafter set forth, Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one hereby granted options (1) year each (eachindividually, a "Renewal TermOption" and collectively, the "Renewal Options") upon written mutual agreement to renew the Term with respect to all (or, subject to the limitations set forth below, a portion) of both Landlord the Leased Premises for two (2) successive periods (individually a "Renewal Term" and Tenantcollectively the "Renewal Terms") of five (5) years each, but in no event to exceed a maximum additional period in the aggregate of ten (10) years beyond the expiration of the Initial Term (the "Renewal Option Period"). The first Renewal Term shall commence at the expiration of the Initial Term and the second Renewal Term shall commence at the expiration of the first Renewal Term. Tenant shall exercise its option to renew by giving must furnish Landlord with written notice not less of its intent to exercise the applicable Renewal Option and the portion of the Leased Premises (subject to the limitations set forth herein) (the "Renewal Space") which Tenant elects to lease during the applicable Renewal Term, no later than 90 days twenty-four (24) months prior to the expiration of the Initial Term or the first Renewal Term, as applicable (the "Intent Notice"). If Tenant intends to exercise any Renewal Option as to a portion, and not all, of the then current Leased Premises (i) the Renewal Space must be configured in full floor increments, (ii) the Renewal Space must be configured so that all floors comprising the Renewal Space are contiguous (excluding any floors Landlord has recaptured pursuant to the provisions of this Lease), (iii) in all events the Renewal Space must contain either the first floor or the highest floor of the Building which was part of the Leased Premises immediately prior to the commencement of the applicable Renewal Term; provided, however, if Tenant elects to lease the highest floor and the remaining floors of the Renewal Space which are contiguous thereto, Tenant shall also be permitted to lease all of the Net Rentable Area on the first floor of the Building as a part of the Renewal Space, (iv) the Renewal Space must contain at least fifty percent (50%) of the total square footage of Net Rentable Area of the Building, and (v) the space not included in the Renewal Space must be delivered to Landlord in accordance with the provisions of Section 5.2(d) of this Lease except that Tenant, at its sole cost is obligated to seal any floor penetrations between floors which are included in the Renewal Space and ones which are not included in the Renewal Space with Building Standard material in a manner reasonably satisfactory to Landlord. If Tenant timely delivers the Intent Notice to Landlord, Landlord shall no later than twenty-three (23) months prior to the expiration of the Initial Term or the first Renewal Term, as applicable, deliver to Tenant written notice ("Rate Notice") of Landlord's good faith determination of the Market Base Rental Rate (defined below) for the Renewal Space as of the commencement of the applicable Renewal Term and any Parking Rental (defined below) for the Parking Permits (if applicable pursuant to subsection 9.1(b)(iii) below). If Tenant objects to Landlord's determination of the Market Base Rental Rate within ten (10) days of receipt of the Rate Notice, Landlord and Tenant shall use good faith efforts (neither party acting arbitrarily or capriciously to resolve their differences as to the Market Base Rental Rate within thirty (30) days after Tenant's receipt of the Rate Notice (the "Renewal Election Period"). If Landlord and Tenant agree in writing as to the Market Base Rental Rate prior to the expiration of the Renewal Election Period, the Market Base Rental Rate so agreed to by Landlord and Tenant shall be applicable if Tenant, in its sole discretion, elects to exercise the applicable Renewal Option prior to the expiration of the Renewal Election Period. If Tenant timely furnishes the Intent Notice to Landlord, and Tenant and Landlord cannot agree to the Market Base Rate for the Renewal Space for the applicable Renewal Term, prior to the expiration of the Renewal Election Period, Tenant may elect to submit the determination of the Market Base Rental Rate to arbitration in accordance with subsection (d) below by furnishing notice to Landlord in writing (the "Election Notice") prior to the expiration of the Renewal Election Period. If Tenant timely delivers the Intent Notice and the Election Notice to Landlord, and at any time prior to the commencement of the applicable Renewal Term an Event of Default occurred, Landlord, at its sole option during the continuance of such Event of Default, may terminate any right by Tenant under this Section 9.1 to exercise the applicable Renewal Option and the Renewal Option (and any subsequent Renewal Option) shall expire and thereafter shall be exercisable by Tenant. If Tenant fails to timely deliver the Intent Notice or the Election Notice as provided above, the applicable Renewal Option and the subsequent Renewal Option (if applicable shall terminate automatically, and Tenant shall have waived forever its right to renew and extend the Term. If Tenant elected during the Renewal Election Period to submit the determination of the Market Base Rental Rate to arbitration and the decision of the arbitrators with respect to Market Base Rental Rate cannot be or is not rendered on or prior to the date that is which is fifteen (15) months and five (5) days prior to the expiration of the then current Term of this Lease, then Tenant shall have the option to exercise its right to renew the Term of this Lease by written notice deliverable to Landlord prior to the date which is fifteen (15) months prior to the expiration of the then current term, in effect which event its election to renew shall become irrevocable and Tenant shall be bound by the decision of the arbitrators made pursuant to subsection (d) below (as will Landlord). If Tenant fails to timely give such notice of its election to exercise the Renewal Option prior to the date fifteen (15) months prior to the expiration of the then current Term of this Lease, Tenant shall be deemed to have elected to waive forever its right to renew and extend the Term. If Tenant elected during the Renewal Election Period to submit the determination of the Market Base Rental Rate to arbitration and the decision of the arbitrators is rendered prior to the date which is fifteen (15) months and five (5) days prior to the expiration of the then current Term of this Lease, on or prior to the earlier of (x) fifteen (15) months prior to the expiration of the then current Term of this Lease, or (y) thirty (30) days following the rendering of such decision, Tenant may elect one (1) of the following options: (A) to not exercise the subject Renewal Option and thereby permit this Lease to expire upon the expiration of the then existing Term (and the Renewal Options not previously exercised in accordance with the terms of this Lease shall automatically terminate and Tenant shall have waived forever its right to further extend the Term), or (B) to renew the Lease upon the Market Base Rental Rate determined by arbitration subject to subsection (d) below. If Tenant fails to timely exercise option (A) or (B), Tenant shall be deemed to have elected option (A). If Landlord and Tenant do not agree in writing as to the Market Base Rental Rate prior to the exercise by Tenant of the applicable Renewal Option all payments of Rent as to the Renewal Space during the applicable Renewal Term shall be made as and when required in this Lease, notwithstanding any unresolved objections, based upon the Market Base Rental Rate specified in the Rate Notice, and upon resolution of the arbitration pursuant to subsection (d) below, any overpayment or underpayment theretofore made shall be adjusted in accordance with the Market Base Rental Rate as determined by arbitration by decreasing or increasing, as the case may be. If Tenant fails to exercise its options in , the time periods next installment or in installments of Base Rental coming due by the manner provided hereinamount of such overpayment or underpayment, such options as the case may be (and no interest or penalty shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(sapplied thereto). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”"

Renewal Options. Provided Tenant may have two (2) options to extend the Term (each a “Renewal Option”), at the sole discretion and written consent of Landlord. The first Renewal Option shall be for a period of five (5) years and the second Renewal Option shall be for a period of five (5) years (each a “Renewal Term”). A Renewal Option may be exercised only by the entity identified as the Tenant in the Basic Lease Information or an assignee that is a Tenant Affiliate and may not be exercised by any other sublessee or assignee or by any other successor or assign. A Renewal Option shall be effective only if Tenant is not in default Default under this Lease, Tenant shall have either at the option to extend time of exercise of the Initial Term Renewal Option or the time of this Lease perpetually, for renewal term(s) commencement of one (1) year each (each, a "the Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew a Renewal Option, if at all, by giving Landlord written notice (“Election Notice”) from Tenant to Landlord, in a form substantially the same as Exhibit C, given not more than twelve (12) months nor less than 90 days six (6) months prior to the expiration of the Initial initial Term or the first Renewal Term then in effect as the case may beTerm. Any such notice given by Tenant to Landlord shall be irrevocable. If Tenant fails to exercise its options the Renewal Option in the time periods or in the a timely manner as provided hereinfor above, such options said Renewal Option shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s)void. If Tenant exercises its options fails to exercise the first Renewal Option in a timely manner as set forth hereinprovided for above, the Termination Date second Renewal Option shall also be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Termvoid.”

Renewal Options. All renewal options contained in the Lease, including without limitations, the rights contained in Article 39 of the Lease and Section 7 of the First Amendment are hereby deleted in their entirety and the following is substituted therefor: Provided that Tenant is not in default under this Lease, Tenant shall have Lease and that no event or condition exists which with notice and the expiration of any race period would constitute a Default or an Event of Default under this Lease at the time the option may be exercised and at the time the Renewal Option (as defined below) commences, Landlord grants to Tenant one option (the “Renewal Option”) to extend the Initial Term of this Lease perpetuallywith respect to all of the Premises or part thereof after accounting for Partial Surrender Option under Section 4 below, for renewal term(s) of one (1) year each additional period of two (each, 2) years (a "“Renewal Term") upon written mutual agreement of both Landlord and TenantPeriod”). The Renewal Option may be exercised by Tenant shall exercise its option to renew by giving Landlord delivering written notice not less (the “Renewal Notice”) to Landlord at least nine (9) months but no more than 90 days twelve (12) months prior to the expiration of the Initial Term or then current Lease Term. In the Renewal Term then in effect as the case may be. If event that Tenant fails timely to exercise its options in give such notice to Landlord, this Lease shall automatically terminate at the time periods or in end of the manner provided hereinLease Term, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which no further option to provide extend the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this LeaseLease Term. All Time is of the terms and conditions of this Lease shall remain essence in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day exercise of the Renewal Term then in effect, unless sooner terminated as provided hereinOption. The Initial Term of this Lease, Annual Rent (the “Renewal Rental Rate”) for the Renewal Period shall be as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”follows:

Renewal Options. Section 43.1 Provided that Tenant is not in default under this Lease, Tenant shall have the option to extend the Initial Term of (a) this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord is in full force and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration effect as of the Initial Term or date of the First Renewal Term then in effect Notice (as hereinafter defined) and the Second Renewal Notice (as hereinafter defined), as the case may be. If , (b) there shall not then be existing an Event of Default hereunder and (c) Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be in actual physical occupancy of no further force or effect without any further action or notice required at least fifty percent (50%) of the Premises on the part date of Landlord; providedthe applicable Renewal Notice and upon commencement of the applicable Renewal Term, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which two options to provide extend the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal Term of this Lease. All , each for an additional term of five years (respectively, the “First Renewal Term” and the “Second Renewal Term” and collectively, the “Renewal Terms”), commencing on the day after the Fixed Expiration Date, in the case of the terms First Renewal Term, and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, commencing on the Termination Date shall be day after the last day of the First Renewal Term, in the case of the Second Renewal Term. Notwithstanding the preceding sentence, Landlord, in its sole discretion, may waive any Event of Default by Tenant and no such Event of Default may be used by Tenant to negate the effectiveness of Tenant’s exercise of the option(s) hereunder. Tenant’s option with respect to the First Renewal Term then in effect, unless sooner terminated as provided hereinshall be exercisable by written notice (the “First Renewal Notice”) to Landlord given not later than twelve (12) months prior to the Fixed Expiration Date. The Initial Term Tenant’s option with respect to the Table of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”Contents

Renewal Options. Provided that Tenant is not in default under this Lease, Tenant shall have the option option, subject to extend the Initial requirements set forth in this Section 3(c), to renew the Term of the Lease for four (4) consecutive Five (5) year renewal terms (each a “Renewal Term”). Each Renewal Term shall be upon the same terms and conditions as contained in this Lease perpetuallyLease, except that (i) any rent free periods, rental concessions, inducements, allowances and other similar items applicable during any Term will not apply during any Renewal Term, (ii) Tenant will accept the Demised Premises on an “as is” basis at the commencement of the Renewal Term, (iii) there shall be no further right of renewal except as stated above, and (iv) the Minimum Annual Rent for renewal term(seach respective Renewal Term shall be equal to one hundred ten percent (110%) of one (1) year each (each, a "the Minimum Annual Rent of the last Lease Year or Renewal Term". The renewal option set forth in this Section 3(c) upon will only be valid if (a) the Tenant that signed this Lease, or its successor by merger or acquisition of substantially all of the assets of the branch bank of the Tenant operated at the Premises, is the occupant of the Demised Premises; (b) Landlord has received written mutual agreement notice of both Landlord and Tenant. Tenant shall exercise its option ’s election to renew by giving Landlord written notice not less than 90 at least one hundred eighty (180) days prior to the expiration of the Initial initial Term or the then existing Renewal Term then Term, as applicable; (c) Tenant is not in effect as default beyond any applicable notice and cure period; and (d) Tenant has duly and regularly performed its obligations under this Lease (Landlord reserving, in its sole discretion, the case may be. If Tenant fails right to waive compliance with any or all of the foregoing pre-conditions to Tenant’s exercise its options in the time periods or in the manner provided hereinof any option to renew, such options shall waiver to be deemed to have lapsed, terminated and shall be evidenced by Landlord’s written acceptance of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of ’s exercise of such the renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(soption). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. (a) Provided that Tenant (i) the Lease is in full force and effect as of the date of the applicable Renewal Notice (as such term is hereinafter defined), and (ii) Lessee shall not be in default beyond any applicable notice and cure period under this the Lease, Tenant Lessee shall have the option to extend the Initial Term of this the Lease perpetually, for renewal term(stwo (2) additional terms of one five (15) year years each (each, a "“Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to ”), commencing on the day after the expiration of the Initial Term initial term of this Lease or the day after the expiration of the first Renewal Term, as applicable (each, an “Expiration Date”). Lessee’s option with respect to a Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed exercisable by written notice (the “Renewal Notice”), to have lapsed, terminated Lessor given not more than eight (8) months nor less than four (4) months prior to the applicable Expiration Date. Each Renewal Term shall constitute an extension of the Term of the Lease and shall be upon all of the same terms and conditions as the initial Term, except that (i) there shall be no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew the Term of the Lease after the expiration of the second Renewal Term, (ii) Lessor shall not be required to furnish any materials or perform any work to prepare the Premises for Lessee’s occupancy and Tenant Lessor shall then have fifteen days from receipt of Landlord's notice within which not be required to provide make any Allowance or reimburse Lessee for any improvements made or to be made by Lessee, or grant Lessee any rent concession, and (iii) the notice of exercise of such renewal which, if then timely provided, Base Rent for each Renewal Term shall be deemed an effective renewal as determined pursuant to the provisions of this Lease. All of (b), (c) and (d), below, and shall commence on the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last first day of the applicable Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "Term.”

Renewal Options. Provided that Tenant (a) Subject to the conditions hereinafter set forth and provided this Lease is not then in default under this Leaseeffect, Tenant shall have the option right to extend renew the Initial Term term of this Lease perpetually, for two (2) consecutive renewal term(sterms of five (5) of one (1) year years each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew ), by giving Landlord delivering written notice not less than 90 (the "Renewal Notice") to Landlord of its exercise of such right at least one hundred eighty (180) days prior to before the expiration end of the Initial Original Term or the any Renewal Term then in effect Term, as the case may be. Subject to the terms of this Lease set forth below, the first such Renewal Term shall begin upon the expiration of the Original Term and the second Renewal Term shall begin upon the expiration of the first Renewal Term. All of the terms, provisions and covenants of this Lease shall apply to each Renewal Term except that Basic Rent for each Renewal Term shall be established as provided in paragraph (b) below. Tenant shall have no right to exercise any option under this Section 3.03 if any Event of Default (as hereinafter defined) exists at the time of electing a renewal option or at the time any Renewal Term would commence. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or give timely notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option intention to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of , the terms and conditions Term of this Lease shall remain in full force expire on the scheduled expiration date, and effect during any Renewal Term(s)Tenant shall have no further option to renew this Lease. If Tenant exercises its options as set forth hereindoes not exercise any such option in a timely manner, then Landlord shall have the Termination Date shall be right during the last day remainder of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease to advertise the availability of the Premises for sale or lease. In this Lease the phrases "term of this Lease, as extended by ," "term hereof," "Lease Term," and "Term" mean the Original Term and any Renewal Term(s), if applicable, shall hereinafter be referred Term that may become effective pursuant to as the "Termthis Section 3.03.”

Renewal Options. 40.01 (a) Provided that this lease shall be in full force and effect on the Expiration Date without default on the part of Tenant is not in default under this Leasehereunder beyond the expiration of notice and any grace period, Tenant shall have the option to extend the Initial Term of this Lease perpetually, for renewal term(s) of one (1) year each (each, a "Renewal Term") upon written mutual agreement of both Landlord and Tenant. Tenant shall exercise its option to renew by giving Landlord written notice not less than 90 days prior to the expiration of the Initial Term or the Renewal Term then in effect as the case may be. If Tenant fails to exercise its options in the time periods or in the manner provided herein, such options shall be deemed to have lapsed, terminated and shall be of no further force or effect without any further action or notice required on the part of Landlord; provided, however, before such termination becomes effective, Landlord shall first make a good faith effort to notify Tenant of Tenant's failure to timely exercise an option to renew and Tenant shall then have fifteen days from receipt of Landlord's notice within which to provide the notice of exercise of such renewal which, if then timely provided, shall be deemed an effective renewal of this Lease. All of the terms and conditions of this Lease shall remain in full force and effect during any Renewal Term(s). If Tenant exercises its options as set forth herein, the Termination Date shall be the last day of the Renewal Term then in effect, unless sooner terminated as provided herein. The Initial Term of this Lease, as extended by any Renewal Term(s), if applicable, shall hereinafter be referred to as the "1st Renewal Option") to renew this lease for a renewal term (hereinafter referred to as the "1st Renewal Term") of five (5) years, to commence on the Expiration Date (hereinafter referred to as the "1st Renewal Term Commencement Date") and to expire five (5) years thereafter (herein referred to as the "1st Renewal Term Expiration Date"). Tenant shall exercise the 1st Renewal Option by sending a written notice thereof (which notice is hereinafter referred to as the "1st Renewal Notice") to Landlord by certified mail, return receipt requested, not less than twelve (12) months prior to the Expiration Date. If Tenant shall send the 1st Renewal Notice within the time and in the manner hereinbefore provided, this lease shall be deemed renewed for the 1st Renewal Term upon the terms, covenants and conditions hereinafter contained. If Tenant shall fail to send the 1st Renewal Notice within the time and in the manner hereinbefore provided, the 1st Renewal Option shall cease and terminate, and Tenant shall have no further option to renew this lease.”