Common use of FIRST OPTION TO EXTEND Clause in Contracts

FIRST OPTION TO EXTEND. Lessee shall have the right, subject to the provisions hereinafter provided, to extend the term of this Lease for one (1) period of five (5) years on the terms and provisions of this Article XXXI. Such five-year renewal period is sometimes herein referred to as the "First Renewal Term". The conditions of such First Renewal Term shall be as follows: (a) That this Lease is in full force and effect and Lessee is not in default in the performance of any of the terms, covenants and conditions herein contained, in respect to which notice of default has been given hereunder which has not been or is not being remedied in the time limited Scottsdale Northsight/JDA Software 04/30/98: 532732.1827-0801 Exhibit C in this Lease, at the time of exercise of the right of renewal, but Lessor shall have the right at its sole discretion to waive the non-default conditions herein. (b) That such First Renewal Term shall be on the same terms, covenants and conditions as in this Lease; provided, however, the annual Base Rent for such First Renewal Term shall be an amount equal to 115% of the Base Rent rate for the last sixty (60) months of the initial ten (10) year term of this Lease per rentable square feet of the Premises. (c) That Lessee shall exercise its right to the First Renewal Term provided herein, if at all, by notifying Lessor in writing of its election to exercise the right to renew the term of this Lease no later than twelve (12) months prior to end of the initial ten-year term.

FIRST OPTION TO EXTEND. Lessee 45.1. Subject to the provisions of Section 46.03 hereof, Tenant shall have the right, subject to the provisions hereinafter provided, right to extend the term of this Lease for one an additional term of three (1) period of five (53) years commencing on the terms and provisions of this Article XXXI. Such five-year renewal period is sometimes herein March 1, 2001 (hereinafter referred to as the "Commencement Date of the First Renewal Extension Term') and ending on February 29, 2004 (such additional term is hereinafter called the "First Extension Term") provided that: (i) Tenant shall give Landlord notice (hereinafter called the "First Extension Notice") of its election to extend the term of this Lease on or before February 29, 2000. The conditions of such First Renewal Term Time shall be of the essence with respect to the giving of the First Extension Notice; and (ii) Tenant is not in default under the Lease as follows:of the time of the giving of the First Extension Notice and as of the Commencement Date of the First Extension Term. (a) That this Lease is Except as provided in full force and effect and Lessee is not in default in the performance of any of the terms, covenants and conditions herein contained, in respect to which notice of default has been given hereunder which has not been or is not being remedied in the time limited Scottsdale Northsight/JDA Software 04/30/98: 532732.1827-0801 Exhibit C in this Lease, at the time of exercise of the right of renewal, but Lessor shall have the right at its sole discretion to waive the non-default conditions herein. subsections (b) That such First Renewal and (c) hereof, Tenant's occupancy of the demised premises during the Extension Term shall be on the same terms, covenants terms and conditions as are in effect immediately prior to the expiration of the initial term of this Lease; , provided, however, the annual Base Rent for such First Renewal Term Tenant shall be an amount equal only have two further rights to 115% of the Base Rent rate for the last sixty (60) months of the initial ten (10) year term of this Lease per rentable square feet of the Premises. (c) That Lessee shall exercise its right to the First Renewal Term provided herein, if at all, by notifying Lessor in writing of its election to exercise the right to renew extend the term of this Lease no later than twelve pursuant to Articles 47 and 48 hereof. (12b) months prior During the First Extension Term Article 43 hereof shall apply to end Tenant's work to refurbish the demised premises, except that (i) the "Work Credit" shall mean an amount up to the product of (A) the then rentable square foot area of the initial ten-demised premises less 5,000 and (B) $7.00, and (ii) such Work Credit shall be available only with respect to any actual construction performed by Tenant in the demised premises during the one (1) year termperiod commencing on December 1, 2000.