Conditions of Options. Each Option so granted shall be subject to the following conditions:
Conditions of Options. (a) Unless the Companies have the right to cancel as provided in Section XIV or Section XV, __% of the Shares covered under the Option shall be exercisable at _________, 20__, __% at _________, 20__, and ___% at _________, 20__ (each a "Vested Percentage"). The number of Shares available for purchase pursuant to the Option is as follows:
Conditions of Options. 8 3.4 Exercise........................................................................................9 4. CONSIDERATION............................................................................................9 4.1.1 Payment................................................................................9
Conditions of Options. The option granted to GM and GE above shall be --------------------- subject to the following:
Conditions of Options. Tenant shall have two (2) options to extend the Term (each, an “Extension Option”) for period of five (5) years each (each, an “Extension Term”), subject to the conditions described in this Article 20, with each such Extension Term commencing on the day after the expiration of the previous Term. The second Extension Option shall not be exercisable unless Tenant exercises the first Extension Option. Tenant shall have no other right to extend the Term except as set forth in this Article 20. Each Extension Option may be exercised only by written notice delivered by Tenant to Landlord (the “Extension Notice”) not less than twelve (12) months prior to the expiration of the initial Term or the first Extension Term (as applicable). If Tenant fails to deliver timely notice, Tenant shall be considered to have elected not to exercise the subject Extension Option. If Tenant properly exercises an Extension Option and (i) there is no Event of Default under this Lease either at the time of exercising the Extension Option or at the end of the initial Term or the first Extension Term (as applicable), (ii) Tenant has not assigned the Lease or sublet the Premises other than pursuant to a Permitted Transfer, and (iii) Tenant or a Permitted Transferee occupies the Premises, the Term, as it applies to the entire Premises, shall be extended for such Extension Term upon the terms and conditions set forth herein.
