Common use of Additional Term Clause in Contracts

Additional Term. If this Lease has not been terminated and Lessee is not in default of any material provision of this Lease, Lessee shall have the option to extend this Lease for an additional term of ten (10) years, under the same terms and conditions as are provided in this Lease except that (a) there shall be no further right of renewal, and (b) the rent for such additional term shall be increased by a mutually agreed amount. Lessee may exercise such option by giving notice to Lessor as provided herein no and no later than August 30, 2016.

Additional Term. If this Lease has not been terminated and Lessee is not in default of any material provision of this Lease, Lessee shall have the option to extend this Lease for an additional term of ten (10) years, under the same terms and conditions as are provided in this Lease except that (a) there shall be no further right of renewal, and (b) the rent for such additional term shall be increased by a mutually agreed amount. Lessee may exercise such option by giving notice to Lessor as provided herein no and no later than August November 30, 20162020.