Determination of Market Rate. Tenant shall send Landlord a preliminary expression of Tenant’s willingness to renew this Lease no earlier than January 31, 2030, or later than April 30, 2030 (the “Renewal Notice”), together with financial statements meeting the requirements of Section 24.20. In the event Tenant timely provides Landlord with Tenant's Renewal Notice, Landlord shall notify Tenant (“Landlord's Response”), on or before July 31, 2030, of the Renewal Rent to be payable by Tenant during the Renewal Term. Tenant and Landlord shall negotiate in good faith to determine and mutually agree upon the Market Rate for the Renewal Term. If Landlord and Tenant are unable to agree upon the Market Rate for the Renewal Term, on or before August 31, 2030 (the “Negotiation Period”), as evidenced by an amendment to the Lease executed by both Landlord and Tenant and amending the Lease to provide for the extension of the Term for the Renewal Term, the Renewal Rent, any other terms set forth in Landlord’s Response to improve the Premises or provide any improvement allowance as contemplated in [Section 25.1(b)] and any other any other terms mutually agreed to by Landlord and Tenant, if applicable, then within 10 days after the last day of the Negotiation Period, Tenant may, by written notice to Landlord (the “Notice of Exercise”), irrevocably elect to exercise such Renewal Option. In order for Tenant to exercise such Renewal Option, Tenant shall send the Notice of Exercise to Landlord stating # that Tenant is irrevocably exercising its right to extend the Term pursuant to Article XXV; and # Landlord and Tenant shall be irrevocably bound by the determination of Market Rate set forth hereinafter in this Section 25.2, and if applicable, Section 25.4. If Tenant shall fail to deliver the Notice of Exercise on or before 10 days after the last day of the Negotiation Period, then Tenant shall have waived any right to exercise the Renewal Option. In the event any date referenced in this Section 25.2 falls on a day other than a business day, such date shall be deemed to be the next following business day.

“Tenant shall send Landlord a preliminary expression of Tenant’s willingness to renew this Lease no earlier than March 31, 2030, or later than June 30, 2030 (the “Renewal Notice”), together with financial statements meeting the requirements of [Section 24.20]. In the event Tenant timely provides Landlord with Tenant's Renewal Notice, Landlord shall notify Tenant (“Landlord's Response”), on or before September 30, 2030, of the Renewal Rent to be payable by Tenant during the Renewal Term. Tenant and Landlord shall negotiate in good faith to determine and mutually agree upon the Market Rate for the Renewal Term. If Landlord and Tenant are unable to agree upon the Market Rate for the Renewal Term, on or before October 31, 2030 (the “Negotiation Period”), as evidenced by an amendment to the Lease executed by both Landlord and Tenant and amending the Lease to provide for the extension of the Term for the Renewal Term, the Renewal Rent, any other terms set forth in Landlord’s Response to improve the Premises or provide any improvement allowance as contemplated in [Section 25.1(b)] and any other any other terms mutually agreed to by Landlord and Tenant, if applicable, then within 10 days after the last day of the Negotiation Period, Tenant may, by written notice to Landlord (the “Notice of Exercise”), irrevocably elect to exercise such Renewal Option.”

In the event the Tenant is interested in exercising the Option to Renew, the Tenant shall give timely notice of the Tenant's interest to the Landlord no earlier than fifteen (15), and no later than thirteen (13), months prior to the end of the Initial Term. Within four (4) weeks of the giving of such notice, the Landlord shall give notice to the Tenant of the Landlord’s quotation of the Market Rental Rate for the Leased Premises during the Renewal Term. In the event the Tenant desires to exercise the Option to Renew, the Tenant shall do so exclusively by giving timely notice thereof to the Landlord no earlier than thirteen (13), and no later than twelve (12), months prior to the end of the Initial Term, and indicating in that notice whether or not the Landlord’s quotation of the Market Rental Rate for the Leased Premises during the Renewal Term, as set forth in the Landlord’s notice, is acceptable. In the event the Tenant fails timely to notify the Landlord of its interest in exercising the Option to Renew or timely to exercise the Option to Renew, the Option to Renew shall thereupon expire.

Within thirty (30) days after receipt of Tenant’s renewal notice, Landlord shall deliver its determination of the Prevailing Market Rate for the Renewal Term. Within thirty (30) days after receipt of the Prevailing Market Rate, Tenant shall notify Landlord that Tenant either # accepts Landlord’s renewal terms, in which event the parties shall promptly enter into an amendment to this Lease incorporating such terms, or # rejects Landlord’s renewal terms and does not elect to renew which does not require any action on Tenant’s behalf or # rejects Landlord’s renewal terms, but Tenant requests that Landlord and Tenant will negotiate in good faith for an additional thirty (30) days (“Negotiation Period”).

In the event Tenant timely delivers the Notice of Exercise to Landlord, Landlord and Tenant shall each simultaneously present to the other party their final determinations of the Market Rate for the Renewal Term (the “Final Offers”) within 15 days after the last day of the Negotiation Period. If the Market Rate as determined by the lower of the two (2) proposed Final Offers is not more than five percent (5%) below the higher, then the Market Rate shall be determined by averaging the two (2) Final Offers.

Within ten (10) business days following receipt of Tenant’s Extension Exercise Notice, Landlord shall notify Tenant in writing of Landlord’s good faith determination of the Market Rental Rate. Tenant shall have the right, within ten (10) business days following receipt of Landlord’s determination of the Market Rental Rate, to elect by written notice to Landlord one of the following: # to revoke Tenant’s exercise of the Extension Option, in which event Tenant’s exercise of the Extension Option shall be deemed null and void and of no force or effect whatsoever; # to accept Landlord’s determination of the Market Rental Rate; or # to object to Landlord’s determination of the Market Rental Rate. Failure of Tenant to timely give Landlord written notice pursuant to the immediately preceding sentence shall be deemed to be Tenant’s election pursuant to clause (x) of such sentence. If Tenant objects to Landlord’s determination of the Market Rental Rate, then Landlord and Tenant shall use commercially reasonable efforts to negotiate, in good faith, the Market Rental Rate applicable to the Extension Premises for the Extension Term. If Landlord and Tenant have not agreed upon the Market Rental Rate applicable to the Extension Premises within fifteen (15) business days following the delivery of Tenant’s notice objecting to Landlord’s initial determination of the Market Rental Rate, the Market Rental Rate shall be determined in accordance with the Baseball Arbitration procedure described below.