RIGHT TO EXTEND THIS LEASE Clause Samples
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RIGHT TO EXTEND THIS LEASE. Provided that no Event of Default has occurred and is continuing under any provision of this Lease, either at the time of exercise of the extension right granted herein or at the time of the commencement of such extension, and provided further that Tenant is occupying at least fifty percent (50%) of the Premises, then Tenant may extend the Term of this Lease for one (1) period of sixty (60) months at the “Fair Market Rent” (as defined below). Tenant shall exercise its right to extend the Term by and only by delivering to Landlord, not less than ten (10) months or more than thirteen (13) months prior to the Expiration Date, Tenant’s written notice that it desires to so extend the Term of this Lease (the “Extension Notice”). The “Fair Market Rent” shall mean the economic terms (e.g., Basic Rent, tenant improvement allowance, brokerage commission and any other concessions typically granted by landlords of similar buildings/comparable space in the Sorrento Mesa and Sorrento Valley areas to the extent applicable to the proposed extension) secured at that time by landlords of similar buildings/comparable space in the Sorrento Mesa and Sorrento Valley areas for lease extensions. The Fair Market Rent for any extension of the Term shall be determined as provided in the following provisions. Landlord shall, within thirty (30) days following the Extension Notice, notify Tenant in writing of its determination of the Fair Market Rent including the basis for such determination (“Landlord’s Determination”). Within twenty (20) business days following delivery of the Landlord’s Determination, Tenant shall notify Landlord in writing (“Tenant’s Notice”) that it shall (a) lease the Premises on the terms set forth in Landlord’s Determination, (b) arbitrate Landlord’s Determination as set forth in this Section 3.3 in which case Tenant shall include Tenant’s determination of the Fair Market Rent (“Tenant’s Determination”), or (c) irrevocably withdraw the Extension Notice. If Tenant fails to provide Tenant’s notice as provided herein, Tenant shall be deemed to have irrevocably withdrawn the Extension Notice and waived its extension rights under this Section 3.3. Tenant’s Notice shall serve as its irrevocable notice of its commitment to extend the Term on the terms and conditions herein provided. If applicable, within ten (10) days following delivery of the Tenant’s Determination, the parties shall attempt to agree on an appraiser to determine the Fair Market Rent. If the parties ...
RIGHT TO EXTEND THIS LEASE. Effective as of the Commencement Date for the 15279 Premises, Tenant may exercise its right pursuant to Section 1 of Exhibit G to the Lease entitled “Right to Extend this Lease” with respect to either or both the original Premises (i.e., ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, Suites 100 and 120) or the 15279 Premises.
RIGHT TO EXTEND THIS LEASE. Effective as of the Commencement Date for ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇ shall be deemed a part of the Premises with respect to Section 1 of Exhibit G to the Lease entitled “Right to Extend This Lease”.
RIGHT TO EXTEND THIS LEASE of the Lease entitled "Right to Extend This Lease" shall remain in full force and effect during the extension period ending February 29, 2012.
RIGHT TO EXTEND THIS LEASE. Provided that Tenant is not in default under any provision of this Lease, either at the time of exercise of the extension right granted herein or at the time of the commencement of such extension, and provided further that Tenant is occupying the entire Premises and has not assigned or sublet any of its interest in this Lease, Tenant may extend the Term of this lease for one(1) period of sixty (60) months. Tenant shall exercise its right to extend the Term by and only by (I) delivering to Landlord, not less than one hundred fifty (150) days or more than two hundred ten (210) days prior to the expiration date of the Term, Tenant's written notice of its commitment to extend (the "Commitment Notice"); and (ii) returning to Landlord, within fifteen (15) days after receipt, an executed amendment to this Lease (to be prepared by landlord upon receipt of the Commitment Notice) setting forth the Basic Rent and other charges payable during the extension term. The Basic Rent payable under the Lease during any extension of the Term shall be at ninety-five percent (95%) of the rate Landlord is then receiving for leases of comparable and similarly improved space within the Project on the date of the Commitment Notice, as reasonably determined by Landlord. If Tenant fails to timely comply with any of the provisions of this paragraph, Tenant's right to extend the Term shall be extinguished and the Lease shall automatically terminated as of the expiration date of the Term, without any extension and without any liability to Landlord. Any attempt to assign or transfer any right or interest created by this paragraph shall be void from its inception. Tenant shall have no other right to extend the Term beyond the single sixty (60) month extension created by this paragraph. Unless agreed to in a writing signed by Landlord and Tenant, any extension o the Term, whether created by an amendment to this Lease or by a holdover of the Premises by Tenant, or otherwise, shall be deemed a part of, and not in addition to, any duly exercised extension period permitted by this paragraph.
RIGHT TO EXTEND THIS LEASE. Exhibit G to the Lease entitled “Right to Extend this Lease” shall remain in full force and effect during the Term ending January 31, 2022.
RIGHT TO EXTEND THIS LEASE. Section 7 of Exhibit G to the Lease, entitled “Right to Extend this Lease” is hereby amended to only apply to the 17200 Laguna Canyon Premises, it being understood and agreed that Section 7 of Exhibit G remains in full force and effect, except that any reference to the “Premises” in Section 7 of Exhibit G shall hereby mean the 17200 Laguna Canyon Premises only. In the event Tenant exercises its extension right pursuant to Section 7 of Exhibit G to the Lease, then, as part of the amendment to be executed by the parties to document the Basic Rent for the first 60-month extension period, the parties will also amend the definition of the Premises to include only the 17200 Laguna Canyon Premises.
RIGHT TO EXTEND THIS LEASE. Provided that no Default exists under any provision of this Lease, either at the time of exercise of the extension right granted herein or at the time of the commencement of such extension, and provided further that Tenant is occupying the entire Premises and has not assigned any of its interest in this Lease (other than in connection with a Permitted Transfer), then Tenant may extend the Term of this Lease for one (1) period of sixty (60) months. Tenant shall exercise its right to extend the Term by and only by delivering to Landlord, not less than nine (9) months or more than twelve (12) months prior to the expiration date of the Term, Tenant’s irrevocable written notice of its commitment to extend (the “Commitment Notice”). The Basic Rent payable under the Lease during any extension of the Term shall be determined as provided in the following provisions.
RIGHT TO EXTEND THIS LEASE of the Lease entitled “Right to Extend” shall remain in full force and effect with respect to the Premises (as amended hereby), provided that Tenant has validly exercised its respective extension rights pursuant to Section 3.5 of the
RIGHT TO EXTEND THIS LEASE. Provided that Tenant is not in default under any provision of this Lease at the time of exercise of the extension right granted herein, and provided further that Tenant will be occupying the entire Premises at the commencement of the extension term, Tenant may extend the Term of this Lease for one (1) period of sixty (60) months. Tenant shall exercise its right to extend the Term by and only by delivering to Landlord, not less than six (6) months or more than nine (9) months prior to the expiration date of the Term, Tenant's written notice of its irrevocable commitment to extend (the "Commitment Notice"). Should Tenant fail timely to deliver the Commitment Notice, then this extension right shall thereupon lapse and be of no further force or effect. The Basic Rent payable under the Lease during the extension of the Term shall be at the prevailing "Fair Market Rent" (including periodic adjustments) for comparable space as of the commencement of the extension period. In no event shall the monthly Basic Rent payable for the extension period be less than the Basic Rent payable during the month immediately preceding the commencement of such extension period. For purposes hereof, "Fair Market Rent" shall mean the effective base rental rates (including periodic adjustments to such base rental rates) then being received for premises of similar size and quality to the Premises, located in industrial parks in the Sunnyvale area which are similar in size and quality to the Property, leased for terms of approximately five years, and otherwise subject to leases containing substantially similar terms as those contained in this Lease. Notwithstanding the foregoing, "Fair Market Rent" shall not include any rental value attributable to improvements, alterations, fixtures, equipment, and personal property installed in the Premises at Tenant's expense.