Common use of Options to Extend Lease Term Clause in Contracts

Options to Extend Lease Term. Landlord hereby grants to Tenant two (2) options (each referred to as the "Option") to extend the Lease Term each for a five (5) year period (the "Option Term"), on the following terms and conditions: A. Tenant must give Landlord notice in writing of its exercise of the Option before the later to occur of (i) the two hundred fortieth (240th) day before the date the initial Lease Term (or then extended Lease Term as the case may be) would end but for said exercise, or (ii) the seventh (7th) day following the establishment of the fair market rent for the Premises by appraisal pursuant to subparagraph 2.4F if such appraisal process is commenced pursuant to subparagraphs 2.4E and 2.4F. B. Tenant may not exercise the Option at any time that either of the following is true: (i) a Continuing Tenant Default exists under this Lease (unless caused by a subtenant of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) or (ii) a Continuing Tenant Default exists under the Building A Lease (unless caused by a subtenant or assignee of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) and the same person or entity is the owner of record of both the Premises and the real property leased pursuant to the Building A Lease. C. All the terms and conditions of this Lease shall apply during the Option Term, except that the Base Monthly Rent for the Option Term shall be determined as provided in subparagraph 2.4D below.

Options to Extend Lease Term. Landlord hereby grants to Tenant one option to extend the Lease Term for a period of two (2) options years and one option to extend the Lease Term for a period of three (3) years thereafter (each right to extend referred to as the "Option") " and each period referred to extend the Lease Term each for a five (5) year period (as the "Option Term"), on the following terms and conditions: A. Tenant must give Landlord notice in writing of its exercise of the Option before the later to occur of (i) the two hundred fortieth (240th) day before the date the initial Lease Term (or the then extended Lease Term Term, as the case may be) would end and but for said exercise, or (ii) the seventh (7th) day following the establishment of the fair market rent for the Premises by appraisal pursuant to subparagraph 2.4F if such appraisal process is commenced pursuant to subparagraphs 2.4E and 2.4F. B. Tenant may not exercise the Option option at any time that either of the following is true: (i) a Continuing Tenant Default exists under this Lease (unless caused by a subtenant of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) ); or (ii) a Continuing Tenant Default exists under the Building A Lease (unless caused by a subtenant or assignee of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) and the same person or entity is the owner of record of both the Premises and the real property leased pursuant to the Building A Lease. C. All the terms and conditions of this Lease shall apply during the Option Term, except that the Base Monthly Rent for the Option Term shall be determined as provided in subparagraph 2.4D below.

Options to Extend Lease Term. Landlord hereby grants to Tenant two one (21) options option (each referred to as the "Option") to extend the Lease Term each for a five three (53) year period (the "Option Term"), on the following terms and conditions: A. Tenant must give Landlord notice in writing of its exercise of the Option before the later to occur of (i) the two hundred fortieth (240th) day before the date the initial Lease Term (or then extended Lease Term as the case may be) would end and but for said exercise, or (ii) the seventh (7th) day following the establishment of the fair market rent for the Premises by appraisal pursuant to subparagraph 2.4F if such appraisal process is commenced pursuant to subparagraphs 2.4E and 2.4F. B. Tenant may not exercise the Option option at any time that either of the following is true: (i) a Continuing Tenant Default exists under this Lease (unless caused by a subtenant of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) ); or (ii) a Continuing Tenant Default exists under the Building A C Lease (unless caused by a subtenant or assignee of the original Tenant under this Lease and such original Tenant is using reasonable efforts to cause such default to be cured) and the same person or entity is the owner of record of both the Premises and the real property leased pursuant to the Building A C Lease. C. All the terms and conditions of this Lease shall apply during the Option Term, except that the Base Monthly Rent for the Option Term shall be determined as provided in subparagraph 2.4D below.