8.1. SR 03-21-2016 - Laserfiche WebLink

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of said transmittal by Tenant), and (b) seek the judicial remedy of specific performance. Notwithstanding the foregoing provisions of this Section 24.1, Tenant shall have no right to offset or abate the Rent payable thereunder as a result of or relating to any such Landlord Default. In no event will Landlord be liable to Tenant for any special or consequential damages, nor for punitive damages, and Tenant waives and releases all claims to recover any such damages. 24.2 Landlord acknowledges and irrevocably agrees that upon the filing by or against Landlord of a petition under the Bankruptcy Code naming Landlord as debtor, Tenant shall be entitled to all rights afforded a lessee under the Bankruptcy Code, including but not limited to those rights set forth in Section 365(h) therein, and that in the event of such a bankruptcy filing, this Lease shall constitute an "unexpired lease of real property", and all rights under this Lease of any nature whatsoever shall be deemed to be and are, without limitation, "in or appurtenant to the real property" as both such terms are used in Section 365(h) of the Bankruptcy Code. ARTICLE 25 OPTIONS TO EXTEND 25.1 Extension Periods. Subject to the provisions hereinafter set forth in this Article 25 and provided no Event of Default exists, Landlord hereby grants Tenant the options to extend the Term of the Lease with regard to all or any portion of the Building on the same terms, conditions and provisions as contained herein, except as otherwise provided herein, (the "Extension Options", or individually, an "Extension Option") for two (2) consecutive periods of five (5) years each (collectively, the "Extension Periods", or individually, an "Extension Period"). Tenant shall be under no obligation to extend the Term on all or any portion of the Premises for any of the Extension Periods. The Term may not be extended for all or any portion of the Premises for any Extension Period unless the Term had been so extended for the immediately preceding Extension Period, if any. The first Extension Period shall commence on the first day following the Expiration Date of the initial Term, and each subsequent Extension Period shall commence on the first day following the Expiration Date of the previous Extension Period. 25.2 Monthly Rent During: Extension Period. (a) The Monthly Rent to be paid by Tenant during each Extension Period shall be "Market Monthly Rent" (as defined below). Payment of all Additional Rent and other charges required to be made by Tenant as provided in this Lease shall continue to be made during each Extension Period. As used in this Lease, the term "Market Monthly Rent" means the greater of either: (i) the Monthly Rent payable pursuant to this Lease for the last month of the original ten (10) year Term, or the last month of the First Extension Period (as applicable); or (ii) annual net rental rate per rentable square foot of the Premises that a willing tenant would pay, and a willing landlord would accept in arms -length bona fide negotiations, for similar lease renewal space in the Building or in comparable buildings located in the greater northwest Minneapolis, Minnesota market area, if the same were leased to a single tenant for such Extension Period, taking into account all pertinent factors. 39