Common use of OPTION TO EXTEND THE TERM Clause in Contracts

OPTION TO EXTEND THE TERM. Tenant shall have the option to extend the Term for a period of one (1) year. If Tenant exercises said option, Tenant shall have the conditional right to extend the Term for a second extension period of one (1) year, as hereafter provided. The first such extension shall be referred to in this Lease as the "First Extended Term," the second such extension shall be referred to as the "Second Extended Term," and each such extension shall be referred to as an "Extended Term." If Tenant wishes to exercise an option to extend the Term, Tenant shall deliver written notice of such exercise to Landlord no later than 120 days before the expiration of the Term. If not exercised in this fashion, such options shall expire and be of no further effect. If one or more of said options are exercised, the "Term" shall be deemed to include the Initial Term and the Extended Term(s) as to which options are exercised and shall end on the last day thereof, unless sooner terminated pursuant to the terms of this Lease. The option is personal to Tenant and shall not be assigned except as provided below.

OPTION TO EXTEND THE TERM. Tenant shall have the option to extend the Term for a period of one six (16) yearmonths. If Tenant exercises said option, Tenant shall have the conditional right to extend the Term for a second extension period of one six (16) year, as hereafter providedmonths. The first such extension shall be referred to in this Lease as the "First Extended Term," the second such extension shall be referred to as the "Second Extended Term," and each such extension shall be referred to as an "Extended Term." If Tenant wishes to exercise an option to extend the Term, Tenant shall deliver written notice of such exercise to Landlord no later than 120 30 days before the expiration of the Term. If not exercised in this fashion, such options shall expire and be of no further effect. If one or more of said options are exercised, the "Term" shall be deemed to include the Initial Term and the Extended Term(s) as to which options are exercised and shall end on the last day thereof, unless sooner terminated pursuant to the terms of this Lease. The option is personal to Tenant and shall not be assigned except as provided below.