Common use of Effect of Default on Options Clause in Contracts

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option, notwithstanding any provision In the grant of Option to the contrary, (I) during the time commencing from the date Lessor gives to Lessee a notice of default pursuant to paragraph 13.1 (c) or 13.1 (d) and continuing until the noncompliance alleged in said notice of default is cured, or (ii) during the period of time commencing on the day after a monetary obligation to Lessor is due from Lessee and unpaid (without any necessity for notice thereof to Lessee) and continuing until the obligation is paid, or (III) in the event that Lessor has given to Lessee three or more notices of default under paragraph 13.1 (c), or paragraph 13.1

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option, notwithstanding any provision In in the grant of Option to the contrary, (Ii) during the time commencing from the date Lessor gives to Lessee a notice of default pursuant to paragraph 13.1 (cParagraph 13.1(b) or 13.1 (d13,1(c) and continuing until the noncompliance default alleged in said notice of default is cured, or (ii) during the period of time commencing on the day after a monetary obligation to Lessor is due from Lessee and unpaid (without any necessity for notice thereof to Lessee) and continuing until the obligation is paid, or (IIIiii) in the at any time after an event that Lessor has given to Lessee three or more notices of default under paragraph 13.1 (cdescribed in Paragraphs 13.1(a), 13.1(d), or paragraph 13.1l3.

Effect of Default on Options. (aA) Lessee shall have no right to exercise an Option, notwithstanding any provision In in the grant of Option to the contrary, (I1) during the time commencing from the date Lessor gives to Lessee a notice of default pursuant to paragraph 13.1 (cb) or 13.1 (dc) and continuing until the noncompliance default alleged in said notice of default is cured, or (ii) during the period of time commencing on the day after a monetary obligation to Lessor is due from Lessee and unpaid (without any necessity for notice thereof to Lessee) and continuing until the obligation is paid, or (IIIiii) in the at any time after an event that Lessor has given to Lessee three or more notices of default under paragraph 13.1 (cdescribed in paragraphs 13.1(a), 13.11(d) or paragraph 13.113.1(e) (without any necessity

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option, notwithstanding any provision In in the grant of Option to the contrary, (Ii) during the time commencing from the date Lessor gives to Lessee a notice of default pursuant to paragraph 13.1 (c13.1(c) or 13.1 (d13.1(d) and continuing until the noncompliance alleged in said notice of default is cured, or (ii) during the period of time commencing on ton the day after a monetary obligation to Lessor is due from Lessee and unpaid (without any necessity for notice thereof to Lessee) and continuing until the obligation is paid, or (IIIiii) in the event that Lessor has given to Lessee three or more notices of default under paragraph 13.1 (c), or paragraph 13.1more

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option, notwithstanding any provision In in the grant of Option to the contrary, (Ii) during the time commencing from the date Lessor gives to Lessee a notice of default pursuant to paragraph 13.1 (c13.1(c) or 13.1 (d13.1(d) and continuing until the noncompliance alleged in said notice of default is cured, or (ii) during the period of time commencing on the day after a monetary obligation to Lessor is due from Lessee and unpaid (without any necessity for notice thereof to Lessee) and continuing until the obligation is paid, or (IIIiii) in the event that Lessor has given to Lessee three or more notices of default under paragraph 13.1 (c), or paragraph 13.1of