Common use of Options to Extend Lease Term Clause in Contracts

Options to Extend Lease Term. (a) Tenant shall have one (1) option (the "Extension Option") to extend the Lease Term for five (5) years ("Option Period") for the Premises in their entirety by giving Landlord prior written notice of Tenant's election to exercise this option not less than six (6) months before the expiration of the Lease Term as the same may have been extended. However, if there exists an Event of Default on Tenant's part either at the time of the exercise of any Extension Option or at the time that any Option Period would commence, Landlord may cancel Tenant's exercise of such Extension Option, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. Each Extension Option shall be on all the same terms of this Lease provided that the Monthly Rent for each such Option Period shall be increased in accordance with Section 42 of this Lease and in any case shall not be less than the Monthly Rent due under this Lease for the final month of the initial Lease Term. (b) The Extension Option is personal to the named tenant herein and any Transfer of such tenant's interest in the Lease (other than a Permitted Transfer), whether or not consented to by Landlord, shall cause such Extension Option to terminate and be of no further force or effect.

Options to Extend Lease Term. Landlord hereby grants to Tenant two (a2) Tenant shall have one options (1) each such option (the being hereinafter referred to individually as an "Extension Option" and collectively as th "Options") to extend the Lease Term for additional terms of five (5) years each (each such extension being hereinafter reffered to individually as an "Extension" and collectively as the "Extensions"), on the same terms and conditions as set forth in this Lease, but at an increased rent as set forth below. Each Option Period") for the Premises in their entirety shall be exercised only by giving Landlord prior written notice of Tenant's election from Tenant delivered to exercise this option not less than landlord at least six (6) months before the expiration of the Lease Term as or the same may have been extendedpreceding Extension of the Lease Term, respectively. HoweverIf Tenant fails to deliver to Landlord notice of the exercise of an Option within the prescribed time, if such Option and any succeeding Options shall lapse, and there exists an Event of Default shall be no further right to extend the Lease Term. Each option shall be exercisable by Tenant on Tenant's part either the express conditions that (I) at the time of the exercise of any Extension Option or at exercise, and immediatley prior to the time that any Option Period would commence, Landlord may cancel Tenant's exercise commencement of such Extension OptionExtension, in which case the Extension Option shall be of no further force or effect and all subsequent Extension Options shall be deemed canceled. Each Extension Option shall be on all the same terms of this Lease provided that the Monthly Rent for each such Option Period shall be increased in accordance with Section 42 of this Lease and in any case Tenant shall not be less than the Monthly Rent due in default under this Lease for the final month any of the initial Lease Term. provisions of this Lease, and (bii) The Extension Option is personal to the named tenant herein and any Transfer of such tenant's interest Tenant has not been ten (10) or more days late in the Lease (other payment of Base Rent more than a Permitted Transfer), whether or not consented to by Landlord, shall cause such Extension Option to terminate total three (3) times during the Lease Term and be of no further force or effectall preceding Extensions.