Common use of Options to Extend Clause in Contracts

Options to Extend. Landlord hereby grants to Tenant two (2) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default of this Lease on the date of exercise of the Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extend.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Truck Hero, Inc.)

Options to Extend. Landlord hereby grants Provided there exists no uncured Event of Default under this Lease or any of the Related Leases at the time Lessee exercises any option to Tenant extend (in accordance with this Article XVIII), Lessee will have the right to extend this Lease for two (2) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional periods of five (5) years per extended option each (each such additional term (“Option Term(s)”shall be referred to herein as an "Extended Term"), upon commencing immediately following the end of the Initial Term or the immediately preceding Extended Term, as the case may be. Notwithstanding anything stated in this Paragraph 18.1 or elsewhere in this Lease, Lessee shall not be entitled to exercise its option to extend this Lease for any Extended Term (and any such option to extend shall automatically expire and terminate) unless Lessee concurrently exercises its option as to the applicable Extended Term under each of the Related Leases, as provided in each of the Related Leases; and any attempt to exercise Lessee's option to extend this Lease without Lessee exercising its options under all of the Related Leases shall be null and void. The Lease during any Extended Term shall be on the same terms and conditions of this Lease as amended below; provided, however, Tenant is not in default of this Lease on the date of exercise of the Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Initial Term, as extended. Tenant except that the Minimum Rent shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent be determined as set forth in Paragraph 3.1 herein18.2 below. In the event Lessee desires to exercise any option to extend granted in this Article XVIII, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, Lessee shall have Tenant’s rights to such Options to Extend.give Landlord written

Appears in 1 contract

Sources: Lease (Alterra Healthcare Corp)

Options to Extend. Landlord hereby grants to Tenant two Provided (2i) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default after any applicable notice and cure period under any of the terms, covenants or conditions of this Lease on or of the Phase 1 Lease and (ii) Tenant and/or its Permitted Assignees are occupying or conducting business from at least 200,000 rentable square feet of the Total Premises, and subject to the terms and conditions set forth hereafter, Tenant is hereby granted the option to extend the term of this Lease for the Premises (as constituted as of the commencement date of exercise of the any Option to Extend and has not been in monetary default of this Lease, Period) leased hereunder for more than thirty two consecutive five year periods (30individually “Option Period”) days, more than three (3) times during the Term, as extendedwhich must be exercised separately. Tenant shall give notify Landlord in writing of Tenant’s exercise of its option to Landlord written notice on or extend the Lease no less than 360 days prior to 180 eighty (180) days before expiration of the then current Term or first Option Term existing Lease expiration date. This Lease shall be extended for a period of five years commencing upon the exercise of day after the Option(s) to Extend for such Option Term, time being of the essencethen expiring Lease term and shall expire five years later. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of monthly Base Rent during the extended term shall be as set forth in Paragraph 3.1 herein, Tenant’s Share 2C1 below. This option to extend can be exercised by Tenant for its use of Project Expenses pursuant to Paragraph 5, the Premises (including any permitted subtenants and any other charges under this Lease. The Options to Extend are personal to Tenant affiliates) and may not be transferred or assigned without Landlord’s written consent which may be withheld in its sole discretionto any subtenant, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extendassignee or other party.

Appears in 1 contract

Sources: Lease Agreement (Intuit Inc)

Options to Extend. Landlord hereby grants to Tenant two (2) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all of the terms and conditions of this Lease as amended below; provided, however, Provided that Tenant is not in default of this Lease hereunder on the date of exercise the Notice to Extend (as hereinafter defined) or on the Expiration Date and on each such date shall be in occupancy of the Option entire Demised Premises, Tenant shall have the right to Extend and has not been in monetary default of this Lease, extend the Term for more than thirty two (302) days, more than three (3) times year renewal terms (the "EXTENSION TERMS"), upon the same terms and conditions as are herein provided, except that (a) Fixed Rent during the Extension Term(s) shall be at the annual Fair Market Rent (as hereinafter defined) for the Demised Premises for such Extension Term, (b) Tenant shall have no option to extend the Lease beyond the expiration of the final Extension Term, and (c) the Demised Premises shall be delivered in their existing condition (on an "as extendedis" basis") at the time such Extension Term commences. Such right shall be exercised by Tenant by giving written notice (the "NOTICE TO EXTEND") to Landlord at least nine (9) months prior to the Expiration Date of the Term or Extended Term(s). Time shall be of the essence for the exercise of such option. Tenant shall give have no further right to Landlord written notice on extend or prior to 180 eighty (180) days before expiration of renew the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essenceLease. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as extension options set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend Section 5 are personal to Tenant United Stationers Supply Co., and may shall not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights inure to such Options to Extendthe benefit of any third party.

Appears in 1 contract

Sources: Industrial Lease (United Stationers Inc)

Options to Extend. If Tenant is not then in default under any terms and provisions of this Lease, Tenant shall have the option to extend the term of this Lease for an additional term (sometimes in this Lease referred to as the "first additional term") of two years, from and after the expiration of the initial term of the Lease. In order to exercise such option, Tenant shall provide Landlord hereby grants with advance written notice of Tenant's intent to exercise option no less than 120 days prior to the expiration of the initial term of the Lease. In the event that Tenant fails to provide such notice to Landlord as provided herein, such option shall lapse and shall be rendered null and void. In the event that Tenant exercises its option to extend this Lease as provided herein, such extension shall be on the same terms and conditions as their initial term of this Lease, except that the amount of the rent for such extension shall be determined in the manner provided under Paragraph 5B below. If Tenant exercises its first option to extend the term of this Lease, Tenant is not then in default under any of the terms and provisions of this Lease, and Tenant shall have the option to further extend the term of the Lease for a second additional term (sometimes in this Lease referred to as the "second additional terms) of two (2) options to extend (“Option(s) to Extend”) years, from and after the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all expiration of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default of this Lease on the date of exercise of the Option to Extend and has not been in monetary default first additional term of this Lease, for more than thirty (30) days, more than three (3) times during upon the Term, as extended. Tenant shall give to Landlord giving of written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of such option to Landlord at least one hundred twenty (120) days prior to the Option(s) to Extend for such Option Term, time being expiration of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice first additional term of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant Said second extension shall be on the same terms and may not conditions as the basic term with the exception of rent which shall be assigned without Landlord’s written consent which may be withheld determined in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extend.the manner provided under Paragraph 5B.

Appears in 1 contract

Sources: Lease Agreement (Imagemax Inc)

Options to Extend. Landlord hereby grants Provided there exists no uncured Event of Default under any of this Lease, the Related Leases and the Other Leases at the time Lessee exercises any option to Tenant extend (in accordance with this Article XVIII), Lessee will have the right to extend this Lease for two (2) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional periods of five (5) years per extended option each (each such additional term (“Option Term(s)”shall be referred to herein as an "Extended Term"), upon each and all commencing immediately following the end of the terms and conditions of this Lease Initial Term or the immediately preceding Extended Term, as amended belowthe case may be; provided, however, Tenant is not that notwithstanding anything stated in default of this Lease on the date of exercise of the Option to Extend and has not been Paragraph 18.1 or elsewhere in monetary default of this Lease, Lessee shall not be entitled to exercise its option to extend this Lease for more than thirty any Extended Term (30and any such option to extend shall automatically expire and terminate) daysunless Lessee concurrently exercises its option to extend all the Related Leases for the same period, more than three (3) times as provided in Article XVIII of the Related Leases. The Lease during any Extended Term shall be on the same terms and conditions as during the Initial Term, except that the Minimum Rent shall be determined as extendedset forth in Paragraph 18.2 below. Tenant In the event Lessee desires to exercise any option to extend granted in this Article XVIII, Lessee shall give to Landlord written notice on or prior ("Notice to 180 Extend") not less than one hundred eighty (180) days before prior to the expiration of the then current Initial Term or first Option Term of the exercise of the Option(s) to Extend for such Option immediately preceding Extended Term, time being of as the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereundercase may be. If notice Lessee fails to give Landlord any such notice, then such option to extend and all future options to extend granted in this Article XVIII shall be null and void and of exercise of any Option to Extend is not timely given, all no further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extendforce or effect.

Appears in 1 contract

Sources: Lease Amendment (Assisted Living Concepts Inc)

Options to Extend. Landlord hereby grants to (a) Tenant two (2) options shall not have any option or right to extend the Term except as hereinafter provided in this Section. (b) Tenant shall have the right to extend the Lease Term set forth in Article Two of the Lease for four (4) consecutive periods, the first such period to be for four years eleven months (“Option(s) to ExtendFirst Option Term”) and the Term second through fourth such periods to be for five years each, (respectively the Premises for “Second Option Term”, “Third Option Term”, and “Fourth Option Term” and, together with the First Option Term, each an additional five (5) years per extended option term (“Option Term(s)Term), ) upon each and all of the same terms and conditions set forth in the other Sections of this Lease as amended below; providedthe Lease, however, Tenant is not in default subject to the fulfillment of this Lease the conditions that on or before the date of exercise which is twelve (12) months prior to the expiration of the Initial Term or immediately preceding Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. applicable, Tenant shall give have delivered a written notice to Landlord written notice on or prior referring to 180 eighty this Addendum to Lease and stating that Tenant elects to extend the Lease pursuant hereto. Notwithstanding the foregoing, the exercise by Tenant of the Third Option Term shall be governed by the provisions of Section 4(b) hereof. (180c) days before Should Landlord and Tenant not mutually agree to the terms of the Third Option Term Rent, as provided in Section 4 herein, Tenant shall have the right to terminate the Lease effective as of the expiration of the then current Term or first Second Option Term by written notice to Landlord, which written notice shall be delivered to Landlord on or before the beginning of the exercise twelfth (12th) month prior to the expiration of the Option(s) to Extend for such Second Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extend.

Appears in 1 contract

Sources: Industrial Real Estate Lease (Dicks Sporting Goods Inc)

Options to Extend. Landlord Lessor hereby grants to Tenant two Lessee the option to extend the term of this Lease for One (21) additional Sixty (60) month period(s) commencing when the prior term expires upon each and all of the following terms and conditions: (i) In order to exercise an option to extend, Lessee must give written notice of such election to Lessor and Lessor must receive the same at least nine months but not more than twelve months prior to the date that the option period would commence, time being of the essence. If proper notification of the exercise of an option is not given and/or received, such option shall automatically expire. Options (if there are more than one) may only be exercised consecutively. (ii) The provisions of paragraph 39, including those relating to Lessee's Default set forth in paragraph 39.4 of this Lease, are conditions of this Option. (iii) Except for the provisions of this Lease granting an option or options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”)term, upon each and all of the terms and conditions of this Lease as amended below; provided, however, Tenant except where specifically modified by this option shall apply. (iv) This Option is not in default of this Lease on personal to the date of exercise of the Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5original Lessee, and any other charges under this Lease. The Options to Extend are personal to Tenant and may cannot be assigned or exercised by anyone other than said original Lessee and only while the original Lessee is in full possession of the Premises and without Landlord’s written consent which may the intention of thereafter assigning or subletting. (v) The monthly rent for each month of the option period shall be withheld calculated as follows, using the method(s) indicated below: (Check Method(s) to be Used and Fill in its sole discretion, except that Tenant’s Affiliate(sAppropriately), if any, shall have Tenant’s rights to such Options to Extend.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Exagen Inc.)

Options to Extend. 2.1 Landlord hereby grants to Tenant tenant two (2) options separate but consecutive rights and option to extend this Lease for separate extension periods of ten (“Option(s) to Extend”) the Term for the Premises for an additional five (510) years per extended option term (“Option Term(s)”), upon each and all immediately following the expiration of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default of this Lease on the date of exercise of the Option to Extend and has not been in monetary default Initial Term of this Lease. 2.2 In order to exercise its option for the first extension period, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall (i) not then be in default under this Lease and (ii) shall give written notice to Landlord written notice on or prior to 180 of its exercising of its option for the extension period not later than one hundred eighty (180) days before prior to the expiration of the then current Term or first Option Initial Term of this Lease. 2.3 In order to exercise its option for the exercise second extension period, Tenant shall (i) not then be in default under this Lease; (ii) have exercised its first option hereof; and (iii) shall give written notice to Landlord of its exercising of its option for the second extension period not later than ninety (90) days prior to the expiration of the Option(s) first extension period of this Lease. 2.4 The extension periods shall be subject to Extend for such Option Termand governed by the same identical terms, time being covenants and conditions of the essence. The Initial Term as defined of this Lease except in Paragraph 2 hereof shall also include any Options respect to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent the termination date and for the Option Terms shall consist of Base Rent as rentals which are set forth in Paragraph 3.1 hereinSection 3 hereof. If Tenant remains in possession of the premises after expiration of any lease term without executing a new lease or exercising its option to extend, Tenant’s Share such holding over shall be construed as a tenancy from month-to-month, subject to all covenants and conditions of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options Upon such holding over, Tenant must vacate the premises within thirty (30) days after receiving written notice from Landlord to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extendvacate.

Appears in 1 contract

Sources: Ground Lease (Home Bancshares Inc)

Options to Extend. Landlord hereby grants to Tenant two Provided (2i) options to extend (“Option(s) to Extend”) the Term for the Premises for an additional five (5) years per extended option term (“Option Term(s)”), upon each and all of the terms and conditions of this Lease as amended below; provided, however, Tenant is not in default after any applicable notice and cure period under any of the terms, covenants or conditions of this Lease on or of the Phase 2 Lease and (ii) Tenant and/or its Permitted Assignees are occupying or conducting business from at least 200,000 rentable square feet of the Total Premises, and subject to the terms and conditions set forth hereafter, Tenant is hereby granted the option to extend the term of this Lease for the Premises (as constituted as of commencement date of exercise of the any Option to Extend and has not been in monetary default of this Lease, Period) leased hereunder for more than thirty two consecutive five year periods (30individually “Option Period”) days, more than three (3) times during the Term, as extendedwhich must be exercised separately. Tenant shall give notify Landlord in writing of Tenant’s exercise of its option to Landlord written notice on or extend the Lease no less than 360 days prior to 180 eighty (180) days before expiration of the then current Term or first Option Term existing Lease expiration date. This Lease shall be extended for a period of five years commencing upon the exercise of day after the Option(s) to Extend for such Option Term, time being of the essencethen expiring Lease term and shall expire five years later. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of monthly Base Rent during the extended term shall be as set forth in Paragraph 3.1 herein, Tenant’s Share 2C1 below. This option to extend can be exercised by Tenant for its use of Project Expenses pursuant to Paragraph 5, the Premises (including any permitted subtenants and any other charges under this Lease. The Options to Extend are personal to Tenant affiliates) and may not be transferred or assigned without Landlord’s written consent which may be withheld in its sole discretionto any subtenant, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extendassignee or other party.

Appears in 1 contract

Sources: Lease Agreement (Intuit Inc)

Options to Extend. Landlord hereby grants to Tenant two (2) options shall have the option to extend (“Option(s) to Extend”) the Term for the Premises for an additional ----------------- three (3) periods of five (5) years per extended option term (“Option Term(s)”)each, upon each and all of to follow consecutively after the terms and conditions of this Lease Term, so long as amended below; provided, however, Tenant is not in default default, beyond any applicable cure periods, of any of the material provisions of this Lease on commencing at the date of exercise of the Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term time of the exercise of the Option(s) to Extend for such Option Term, time being any of the essenceoptions hereunder and for the period of time continuing to the expiration of the Term or the then existing Extended Term. The Such options shall be exercised by notice from Tenant to Landlord given not less than nine (9) months prior to the expiration of the Term as defined in Paragraph 2 or the then existing Extended Term and upon the giving of such notice, the Lease and the Term hereof shall also automatically be extended for an additional period of five (5) years without the necessity for the execution of any other instrument in confirmation thereof except for a document memorializing the Annual Fixed Rent (as hereinafter defined) for the Extended Term. Except for any option to extend which has theretofore been exercised and the rent payable during any such extension period, which shall be determined in the manner provided in Section 4.1.1 below, such extension shall be upon all the same terms, conditions and provisions herein contained. References in this Lease to the Term hereof shall be deemed to include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent Extended Term for which the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which original term may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extendso extended.

Appears in 1 contract

Sources: Lease Agreement (Organogenesis Inc)

Options to Extend. Landlord hereby grants Notwithstanding the provisions of Section 2(a) to Tenant the contrary and provided Subtenant is not in default under this Sublease at the time of the exercise thereof or at the time of its occupancy pursuant thereto, Subtenant shall have an aggregate of three (3) options to extend this Sublease (each, an "Option to Extend") as to the Sublease Premises. Subtenant shall have two (2) options consecutive Options to extend (“Option(s) Extend with respect to Extend”) the Term for the 9360 Premises for an additional five six (56) years per month period each. Subtenant shall have one (1) Option to Extend with respect to the 9390 Premises for an additional three (3) month period. Each Option to Extend shall be exercisable by Subtenant upon delivery of prior written notice (the "Exercise Notice") thereof to Sublandlord. Each Exercise Notice shall be given not later than ninety (90) days prior to the then-expiration of the Term applicable to the relevant portion of the Sublease Premises. In the event Subtenant shall exercise an Option to Extend pursuant to the provisions set forth herein, the Term of this Sublease shall be extended option term (“by the period applicable to such Option Term(s)”), upon each to Extend and the Sublease Expiration Date as to such portion of the Sublease Premises shall be deemed to be the expiration date of such extended Term of this Sublease. Such extended Term shall be on all of the terms and conditions of this Lease Sublease, as amended below; providedapplicable, howeverincluding the rental rate applicable to the portion of the Sublease Premises for which occupancy is so extended. As to the 9360 Premises, Tenant is not in default of this Lease on Subtenant shall have exercised the date of first Option to Extend as a condition to its exercise of the second Option to Extend and has not been in monetary default of this Lease, for more than thirty (30) days, more than three (3) times during the Term, as extended. Tenant shall give to Landlord written notice on or prior to 180 eighty (180) days before expiration of the then current Term or first Option Term of the exercise of the Option(s) to Extend for such Option Term, time being of the essence. The Term as defined in Paragraph 2 hereof shall also include any Options to Extend properly exercised hereunder. If notice of exercise of any Option to Extend is not timely given, all further Options to Extend shall automatically expire. The rent for the Option Terms shall consist of Base Rent as set forth in Paragraph 3.1 herein, Tenant’s Share of Project Expenses pursuant to Paragraph 5, and any other charges under this Lease. The Options to Extend are personal to Tenant and may not be assigned without Landlord’s written consent which may be withheld in its sole discretion, except that Tenant’s Affiliate(s), if any, shall have Tenant’s rights to such Options to Extend.

Appears in 1 contract

Sources: Sublease Agreement (Amylin Pharmaceuticals Inc)