Common use of Creation of Extended Term Clause in Contracts

Creation of Extended Term. Upon the timely exercise of the option to extend and the commencement of the extended Term, all references in the Lease to the Term shall be considered to mean the Extended Term as created by the exercise of the option. For the Extended Term, Tenant shall not be entitled to any free rent periods, early occupancy periods, or tenant improvement construction or allowance.

Appears in 2 contracts

Sources: Lease (Neophotonics Corp), Lease (Neophotonics Corp)