Right to Extend the Lease Sample Clauses
The Right to Extend the Lease clause grants the tenant the option to prolong the lease term beyond its original expiration date. Typically, this clause outlines the conditions under which the extension can be exercised, such as providing written notice within a specified timeframe and agreeing to predetermined or market-based rental rates for the extension period. Its core practical function is to provide tenants with flexibility and security in their occupancy, while giving landlords clarity on future tenancy arrangements.
Right to Extend the Lease. The provisions of Section 3.3 of the Lease entitled “Right to Extend this Lease” shall remain in full force and effect and exercisable by Tenant during the Term of the Lease as extended by this Amendment.
Right to Extend the Lease. The parties confirm and agree that Tenant’s right to extend the Lease contained in Section 3.4 of the Lease shall not be applicable as to the 5251 California Expansion Space.
Right to Extend the Lease. Sections 3.4 and 3.5 of the Lease, entitled "Right to Extend this Lease" and "Prevailing Market Rent", respectively, are hereby deleted in their entirety and substituted therefor shall be the following Section 3.4:
Right to Extend the Lease. Provided that no Event of Default exists under any provision of the Lease at the time of exercise of the S: \IPG \OFFICE PROPERTIES \OFFICE LEGAL\▇▇▇▇▇▇ \ AMENDMENTS-2013 \ BROADCOM-Ae8(MH)-2 DOC February 25, 2013 1 extension rights granted herein, and provided Tenant has not assigned the Lease (except for this purpose only, an assignment pursuant to Section 9.4 shall not be considered an assignment), then Tenant may extend the Term of the Lease for the entire Premises for two (2) successive extension periods, the initial extension period commencing on May 1, 2017 and ending on May 31, 2018 (the "Initial Extension Period"), and the second of such extension periods commencing on June 1, 2018 and ending on May 31, 2019 (the "Second Extension Period), all on the terms and conditions provided in this Section 3.4. The Initial Extension Period and the Second Extension Period are herein collectively referred to as the "Extension Periods", and individually as an "Extension Period". It shall be a further condition of Tenant's right to exercise the Term for the Initial Extension Period that Tenant shall have exercised its right to extend the "Initial Extension Period" under the 2004 Lease Fifth Amendment; and it shall be a further condition of Tenant's right to exercise the Term for the Second Extension Period that Tenant shall have exercised its right to extend the "Second Extension Period" under the 2004 Lease Fifth Amendment. Tenant (i) shall exercise its right to extend the Term for the Initial Extension Period by and only by delivering to Landlord, not later than May 31, 2014, Tenant's irrevocable written notice of its commitment to extend the Term for the Initial Extension Period, and (ii) shall exercise its right to extend the Term for the Second Extension Period by and only by delivering to Landlord, not later than May 31, 2015, Tenant's irrevocable written notice of its commitment to extend the Term for the Second Extension Period (each such notice, a "Commitment Notice"). Tenant's exercise of its right to extend the Term for the Initial Extension Period, as herein provided, shall be a condition precedent for Tenant's right to extend the Term for the Second Extension Period. Tenant's lease of the Premises during each of the Extension Periods shall be on the same terms and conditions set forth in the Lease, except that the Basic Rent payable under the Lease during each of the Extension Periods shall be Six Hundred Forty Thousand Two Hundred and Eighty Three ...
Right to Extend the Lease. The provisions of Section 3.1(b) of the Lease entitled “Right to Extend this Lease,” as amended by Section III.B in the First Amendment and Section III.B of the Fourth Amendment, are hereby deleted in their entirety, and substituted therefor shall be the following:
Right to Extend the Lease. The Provisions of Section 3.2 of the Lease entitled “Right to Extend this Lease” shall remain in full force and effect and exercisable by Tenant during the Term of the Lease as extended by this Amendment, except that the reference in the second (2nd) sentence of the first (1st) paragraph to “not less than six (6) months or more than nine (9) months” is hereby revised to “not less than nine (9) months or more than twelve (12) months”.
Right to Extend the Lease. The provisions of Section 3.1(b) of the Lease entitled “Right to Extend this Lease,” as amended by Section III.B in the First Amendment, shall remain in full force and effect and exercisable by Tenant during the Term of the Lease as extended by this Amendment; provided that the first sentence of the last paragraph of said Section 3.1(b) is hereby deleted in its entirety and substituted therefore shall be the following: “If Tenant fails to timely exercise the extension rights created by this Section 3.1(b) within the time period set forth in the initial paragraph of this Section 3.1(b), then Tenant’s right to extend the Term shall be extinguished and the Lease shall automatically terminate as of the expiration date of the Term, without any extension and without any liability to Landlord.”
Right to Extend the Lease. Paragraph 3 of the Lease Addendum entitled "Right to Extend the Lease", shall be deleted in its entirety and the following shall be substituted in lieu thereof:
Right to Extend the Lease. The provisions of Section 3.1(b) of the Lease shall remain in full force and effect and exercisable by Tenant during the Term of the Lease as extended by this Amendment, except that said Section 3.1(b) is hereby amended as follows:
(i) All references to the “two (2) successive periods of sixty (60) months” are hereby revised to “one (1) period of sixty (60) months;”
(ii) The reference in the second (2nd) sentence of the initial paragraph of Section 3.1(b) to “. . . not less than nine (9) months or more than twelve (12) months,” is hereby revised to “. . . not less than six (6) months or more than twelve (12) months;” and
(iii) The initial sentence of the last paragraph of Section 3.1(b) is hereby deleted in its entirety, and substituted therefor shall be the following sentence: “If Tenant fails to timely exercise the extension rights created by this Section 3.1(b) within the time period set forth in the initial paragraph hereof, then Tenant’s right to extend the Term shall be extinguished and the Lease shall automatically terminate as of the expiration date of the Term, without any extension and without any liability to Landlord.”