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Extension Term
Extension Term contract clause examples

Extension Term. The term of the Lease for the Premises is set to expire on January 31, 2022. By virtue of this Amendment, Landlord and Tenant hereby agree that the term of the Lease for the Premises shall be extended to and including the earlier to occur of # upon 30 days written notice from Landlord (in no event sooner than July 31, 2022) or # October 31, 2022 (such actual date being the “Expiration Date”), subject to the terms and conditions contained herein and the Lease. For the purposes of this Amendment, the period of time between and including February 1, 2022 (the “Extended Term Effective Date”) and the Expiration Date shall be referred to herein as, the “Extension Term”. Furthermore, any and all previously granted and unexercised options to extend the term of the Lease shall be null and void and of no further force or effect.

Extension Term. The second, third, fourth and fifth sentences of Section 40(a) of the Lease are hereby deleted in their entirety and replaced with the following:

Patent Term Extension. Cell Medica shall apply for an extension of the term of any patent included within the Implicated Patent Rights if appropriate under the Drug Price Competition and Patent Term Restoration Act of 1984 and/or European, Japanese and other foreign counterparts of such law. Cell Medica shall prepare all documents, and Baylor agrees to execute the documents and to take additional action as Cell Medica reasonably requests in connection therewith.

Term Extension. The Original Term of the Lease, as extended by the Extended Term pursuant to the First Amendment, is hereby extended for a period of twenty-four (24) months (the “Second Extended Term”) commencing on May 1, 2021 (the “Second Extended Term Commencement Date”) and expiring on April 30, 2023, unless sooner terminated in accordance with the terms of the Lease. Except as expressly set forth herein, all of the terms and conditions of the Lease shall apply to the Second Extension Term. All references in the Lease to the Original Term shall include the Extended Term and the Second Extended Term and all references in the Lease to the “Expiration Date” shall mean April 30, 2023.

Extension Term. The term of the Lease for the Premises is set to expire on December 31, 2019. By virtue of this Amendment, Landlord and Tenant hereby agree that the term of the Lease for the Premises shall be extended to and including December 31, 2020 (the "Expiration Date"), subject to the terms and conditions contained herein and the Lease. For the purposes of this Amendment, the period of time between and including January 1, 2020 (the "Extended Term Effective Date") and the Expiration Date shall be referred to herein as, the "Extension Term". Furthermore, any and all previously granted and unexercised options to extend the term of the Lease shall be null and void and of no further force or effect.

Extension of Term. Landlord and Tenant hereby agree that the Term of the Lease shall be extended from February 1, 2023 (“Extension Commencement Date”) until January 31, 2028 (“Extension Expiration Date”) (the period beginning on the Extension Commencement Date and ending on the Extension Expiration Date is referred to as the “Extension Term”). All references in the Lease to the “Term” shall hereafter be deemed to include the Extension Term and expire on January 31, 2028.

Extension of Term. The Term of the Suite 100 Lease is extended until 11:59 PM, Arizona time, on January 31st, 2025, which will also be referred to as the Expiration Date referred to in the Suite 100 Lease, subject to the renewal options discussed below.

Extension Term. [Section 1.2] of the Lease (Extension Terms) shall remain in effect throughout the Extension Term. For clarity, Tenant shall retain the option to extend the Term beyond the expiration of the Extension Term for one (1) additional period of five (5) years upon written notice to landlord (the “Additional Extension”), provided that there has been no material adverse change in Tenant’s net worth as of the date of such written notice, as verified by landlord based upon a certificate from Tenant’s chief financial officer and audited financials. If landlord determines, based on its review of Tenant’s financial information, that Tenant’s net worth has materially adversely change from that certain net worth of the date of the First Amendment, Landlord shall have the right, in its sole and absolute discretion, to reject Tenant’s exercise of the Additional Extension by providing written notice thereof to Tenant no later than fifteen (15) days following Landlord’s receipt of such notice, whereupon the Term of the Lease shall expire on the expiration of the Term of the Lease, as extended by this First Amendment. If Landlord fails to reject such option to extend, [Section 1.2] of the Lease, including without limitation, the procedure for determining the Extension Term Base Rent, shall remain in full force and effect.

Extension Term. Notwithstanding anything to the contrary set forth herein, the Term is hereby extended by forty-eight (48) months and the Term Expiration Date is hereby amended to be May 15, 2023. The period of time from the Partial Surrender Effective Date through the new Term Expiration Date shall be referred to herein as the “Extension Term” and any references to “Term” in the Lease shall be deemed to include the Extension Term. Notwithstanding anything to the contrary set forth in the Existing Lease, the Option to extend the Term of the Lease as set forth in [Section 42] of the Existing Lease shall terminate as of the Third Amendment Execution Date, and Tenant shall have no further options to extend the Lease.

Research Term Extension. Acadia shall have the exclusive option at its sole discretion to extend the Research Term with respect to a Research Program by an additional ​, exercisable by written notice to Stoke at any time prior to the expiration of the then-current Research Term, up to ​ times, for a maximum Research Term of ​ with respect to such Research Program.

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