Terms and Conditions. If Tenant exercises the renewal option, then all of the terms and conditions set forth in this Lease as applicable to the 14th Floor Expansion Space during the initial term shall apply during such renewal term, except that # Tenant shall have no further right to renew the Lease as to the 14th Floor Expansion Space, # Tenant shall take the 14th Floor Expansion Space in its then as-is state and condition for the renewal term, # the annual fixed rent payable by Tenant for the 14th Floor Expansion Space shall be the then fair market rent for the 14th Floor Expansion Space based upon the terms of the Lease as to the 14th Floor Expansion Space, as renewed, # the Operating Expense Base under [Section 4.05(c)] of the Lease for the 14th Floor Expansion Space shall be the calendar year in which the renewal term commences, and # the Tax Base under [Section 4.01(b)] of the Lease for the 14th Floor Expansion Space shall be the fiscal tax year in which the renewal term commences. Fair market rent shall include the periodic rental increases, if any, that would be included for space leased for the period the 14th Floor Expansion Space will be covered by the Lease. For purposes hereof, the term fair market rent shall have the meaning set forth above in Paragraph 1.b.(i) above. The fair market rent shall be mutually agreed upon by Landlord and Tenant in writing within the thirty (30) calendar day period commencing six (6) months prior to commencement of the renewal period. If Landlord and Tenant are unable to agree upon the fair market monthly rent within said thirty (30) day period, then the fair market rent shall be established by appraisal in accordance with the procedures set forth in attached Exhibit B.
TermsUpon Tenants exercise of the 14th Floor Expansion Option, Landlord and Conditions. If Tenant exercisesshall enter into an amendment to this Lease adding the renewal option, then14th Floor Expansion Space to the Premises on all of the terms and conditions set forth in this Lease as applicable to the 14th Floor Expansion Space duringPremises then demised under the initial term shall apply during such renewal term,Lease, except that # Tenant shall have no further right to renewthe term of the Lease as to the 14th Floor Expansion Space, # TenantSpace shall takecommence on January 1, 2010, or, if later, the date the 14th Floor Expansion Space in its then as-is state and condition for the renewal term,is actually delivered to Tenant, # the annual fixed rent payable by Tenant for the 14th Floor Expansion Space shall be the then fair market rent for the 14th Floor Expansion Space based uponSpace, as set forth in Landlords Option Notification or as determined by the terms of the Leaseappraisal procedure (as applicable), # Tenants Proportionate Share for Taxes as to the 14th Floor Expansion Space,Space and Tenants Proportionate Share for Operating Expenses as renewed, # the Operating Expense Base under [Section 4.05(c)] of the Lease forto the 14th Floor Expansion Space shall be established based on the calendar year in whichthen rentable square footage of the renewal term commences, and14th Floor Expansion Space; # the Tax BaseTax Base under [Section 4.01(b)] of the Lease foras to the 14th Floor Expansion Space shall be the fiscal tax year in which the renewal term commences. Fair market rent shall include14th Floor Expansion Space is added to the periodic rental increases, if any, that would be included for space leased forLease, # the periodOperating Expense Base under [Section 4.05(c)] of the Lease as to the 14th Floor Expansion Space willshall be covered by the Lease. For purposes hereof,calendar year in which the term fair market rent14th Floor Expansion Space is added to this Lease, # Tenant shall havetake the meaning set forth above14th Floor Expansion Space in Paragraph 1.b.(i) above. Theits then as-is condition (unless the current fair market rentterms for the 14th Floor Expansion Space include a tenant improvement allowance, in which event Tenant shall be mutually agreed upon by Landlordreceive a tenant improvement allowance for improvements to the 14th Floor Expansion Space and Tenant in writing within the thirty (30) calendar day period commencing six (6) months prior to commencement of the renewal period. If Landlord and Tenant are unable to agree upon the fair market monthlyannual fixed rent within said thirty (30) day period, then the fair market rent shall be established by appraisal in accordance with the procedures set forth in attached Exhibit B.Landlords Option Notification shall take into account such tenant improvement allowance) and # the renewal option provided for in Article 22 of the Lease shall be inapplicable to the 14th Floor Expansion Space and the provisions of Paragraph l.d. below shall instead apply with regard to the renewal of the Lease as to the 14th Floor Expansion Space.
Terms and Conditions. If Tenant exercises the renewal option, then all of the terms and conditions set forth in this Lease as applicablefair market rent is not established prior to the 14th Floor Expansion Space during the initial term shall apply during such renewal term, except that # Tenant shall have no further right to renew the Lease as to the 14th Floor Expansion Space, # Tenant shall take the 14th Floor Expansion Space in its then as-is state and condition forcommencement of the renewal term, # thethen Tenant shall pay fixed annual fixed rent payable by Tenantand payments for Operating Expenses and Taxes for the 14th Floor Expansion Space shall beat the then fair market rentrate that was in effect for the 14th Floor Expansion Space based uponimmediately prior to the termscommencement of the Leaserenewal term and, as tosoon as the fair market rent is determined for the 14th Floor Expansion Space, as renewed, #Tenant shall pay to Landlord within ten (10) days of written demand any deficiency in the Operating Expense Base under [Section 4.05(c)] ofamount paid by Tenant during such period, or, if Tenant paid excess rent during such period, Landlord shall credit such excess payments to the Lease for the 14th Floor Expansion Space shall be the calendar year in which the renewal term commences, and # the Tax Base under [Section 4.01(b)] of the Lease for the 14th Floor Expansion Space shall be the fiscal tax year in which the renewal term commences. Fair market rent shall include the periodic rental increases, if any, that would be included for space leased for the period the 14th Floor Expansion Space will be covered by the Lease. For purposes hereof, the term fair market rent shall have the meaning set forth above in Paragraph 1.b.(i) above. The fair market rent shall be mutually agreed upon by Landlord and Tenant in writing within the thirty (30) calendar day period commencing six (6) months prior to commencement of the renewal period. If Landlord and Tenant are unable to agree upon the fair market monthly rent within said thirty (30) day period, then the fair market rent shall be established by appraisal in accordance with the procedures set forth in attached Exhibit B.amounts next due.
Terms and Conditions. If the 14th Floor Expansion Space is added to the Lease pursuant to this Paragraph 1, Tenant exercisesshall have the renewal option, then alloption to renew the term of the terms and conditions set forth in this Lease as applicable to the 14th Floor Expansion Space duringfor one (1) additional term of five (5) years, commencing on June 1, 2016, which renewal option is separate from Tenants renewal option under Article 22 of the initial termLease as to the Premises other than the 14th Floor Expansion Space. The renewal option must be exercised, if at all, by written notice given by Tenant to Landlord not later than June 1, 2015. Notwithstanding the foregoing, at Landlords election, the renewal option shall apply during such renewal term, except that #be null and void and Tenant shall have no further right to renew the Lease as to the 14th Floor Expansion Space,Space if on the date Tenant exercises the option or on the date immediately preceding the commencement of the renewal period # the Tenant shall takeoriginally named in this Amendment is not in occupancy of the entire 14th Floor Expansion Space or such Tenant does not intend to continue to occupy all of the same (but intends to assign this Lease or sublet the 14th Floor Expansion Space in its then as-is state and condition for the renewal term,whole or in part), or # the annual fixed rent payable by Tenant for the 14th Floor Expansion Space shall be the then fair market rent for the 14th Floor Expansion Space based upon the termsthere exists an uncured breach of the Lease asby Tenant that has continued beyond any applicable notice and cure period, or, if the cure period has not yet expired, is not cured prior to the 14th Floor Expansion Space, as renewed, # the Operating Expense Base under [Section 4.05(c)]expiration of the Lease for the 14th Floor Expansion Space shall be the calendar year in which the renewal term commences, and # the Tax Base under [Section 4.01(b)] of the Lease for the 14th Floor Expansion Space shall be the fiscal tax year in which the renewal term commences. Fair market rent shall include the periodic rental increases, if any, that would be included for space leased for the period the 14th Floor Expansion Space will be covered by the Lease. For purposes hereof, the term fair market rent shall have the meaning set forth above in Paragraph 1.b.(i) above. The fair market rent shall be mutually agreed upon by Landlord and Tenant in writing within the thirty (30) calendar day period commencing six (6) months prior to commencement of the renewalcure period. If Landlord and Tenant are unable to agree upon the fair market monthly rent within said thirty (30) day period, then the fair market rent shall be established by appraisal in accordance with the procedures set forth in attached Exhibit B.
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