Common use of Modification to Existing Lease / Extension of Lease Term Clause in Contracts

Modification to Existing Lease / Extension of Lease Term. Lessee agrees to extend its lease and occupancy of the Leased Premises, commencing as of the end of the Term as stated under the Existing Lease, i.e. from April 1, 2017 (herein, the “First Extension Commencement Date”), which extended term as to the Leased Premises will expire thirty six full calendar (36) months from the Expansion Space Commencement Date as determined in Section 3 below (the “First Extension Termination Date”). The period from the First Extension Commencement Date through the First Extension Termination Date is referred to as the “First Extended Term”. Further, Lessee agrees to lease the Expansion Space (in addition to the Leased Premises), commencing on the Expansion Space Commencement Date (as defined herein below) through and to the First Extension Termination Date. As of the Expansion Space Commencement Date, the Expansion Space shall be considered to be included in the term “Lease Premises” as used in the Lease. Notwithstanding the Expansion Space Commencement Date, this First Amendment is to be considered a valid and binding obligation of the parties effective as of the date of execution of this First Amendment by the parties, with the Existing Lease to continue to govern the Lessee’s use and occupancy of the Leased Premises hereunder up to the Expansion Space Commencement Date hereunder.