Common use of Additional Term Clause in Contracts

Additional Term. If Lessee is not then and has never been in default of any term or condition of this Lease, this Lease may be extended at the option of Lessee for an additional term of years (the “Additional Lease Term”) commencing at the Expiration Date upon the terms and conditions of this Lease then in effect. Lessee shall deliver written notice of its intent to exercise the option not more than nine months and not less than six months prior to the expiration of the Initial Lease Term. The Initial Lease Term and the Additional Lease Term shall collectively be referred to as the “Lease Term.”

Appears in 4 contracts

Sources: Long Term Sublease, Long Term Sublease, Long Term Sublease