Common use of Remaining Options Clause in Contracts

Remaining Options. Landlord and Tenant acknowledge and agree that, pursuant to the Option Addendum, Tenant has one additional and remaining 5-year option (“Remaining Option”) to extend the Term of the Lease beyond the First Option Termination Date, pursuant to the terms of the Option Addendum. Notwithstanding the foregoing or anything to the contrary contained in the Option Addendum, if Tenant exercises the Remaining Option, the Monthly Base Rent from the commencement of the Remaining Option through the end of the thirtieth (30th) month thereafter shall be $66,904.35 and shall thereafter increase to $71,922.18 at the beginning of the thirty-first (31st) month through the end of the Remaining Option.