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 (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee); (iii) during the time Lessee is in Breach of this Lease; or (iv) in the event that Lessee has been given three (3) or more notices of separate Default, whether or not the Defaults are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of paragraph 38.4(a).

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; , (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee); , (iii) during the time Lessee is in Breach of this Lease; , or (iv) in the event that Lessee has been given three (3) or more notices of separate Default, whether or not the Defaults are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of paragraph 38.4(aParagraph 39.4(a).

Effect of Default on Options. (aA) Lessee shall have no right to exercise an Option (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee); (iii) during the time Lessee is in Breach of this Lease; or (iv) in the event that Lessee has been given three (3) or more notices of separate Default, whether or not the Defaults are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of paragraph 38.4(a).

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; , (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee); , (iii) during the time Lessee is in Breach of this Lease; , or (iv) in the event that Lessee has been given three five (35) or more notices of separate Default, whether or not the Defaults are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's ’s inability to exercise an Option because of the provisions of paragraph 38.4(aParagraph 39.4(a).

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option Option: (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; , (ii) during the period of time any arty Rent is unpaid (without regard to whether notice thereof is given Lessee); (iii) during the time Lessee is in Breach of this Lease; , or (iv) in the event that Lessee has been given three (3) or more notices of separate Default, whether or not the Defaults to Default are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. . 22 (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability Inability to exercise an Option because of the provisions of paragraph 38.4(aParagraph 39.4(a).

Effect of Default on Options. (a) Lessee shall have no right to exercise an Option Option. (i) during the period commencing with the giving of any notice of Default and continuing until said Default is cured; , (ii) during the period of time any Rent is unpaid (without regard to whether notice thereof is given Lessee); , (iii) during the time Lessee is in Breach of this Lease; , or (iv) in the event that Lessee has been given three (3) or more notices of separate Default, whether or not the Defaults are cured, during the twelve (12) month period immediately preceding the exercise of the Option; (v) becoming a "debtor" as defined in II USC Sec 101 during the term of this Lease. (b) The period of time within which an Option may be exercised shall not be extended or enlarged by reason of Lessee's inability to exercise an Option because of the provisions of paragraph 38.4(aParagraph 39.4(a).