Lease Option. The Owner hereby agrees that so long as the Manager is not in default in the performance of any duty or any obligation hereunder, the Manager shall have the option to lease the Facility at any time during the term of this Agreement (including any extension thereof) by providing the Owner with at least ninety (90) days prior written notice of such election. Within thirty (30) days after the receipt of the Manager's notice to lease, the parties shall enter into a lease agreement substantially in the form attached hereto as Exhibit A (the "Lease"), which Lease shall include, without limitation, a ten (10) year initial term (with three (3) 5-year renewal terms) and rental payments equal to the fair market value (which will be a negotiated percentage of total project costs) as determined immediately prior to the initial term of the Lease and immediately prior to any renewal terms.
Lease Option. The Lessor and the Lessee acknowledge that, on or before June 30, 2008, Umicore Canada Inc. (“Umicore”) may notify the Lessor in writing (hereinafter called the “Surrender Notification”) that it wishes to surrender to the Lessor no later than December 31, 2008 laboratory space on the main floor of the MMC Building that represents a single block of space contiguous with the boundary of the Leased Premises (the “Umicore Surrendered Lab Space”). The Lessor shall provide to the Lessee the Surrender Notification forthwith upon receipt thereof, and the Lessee shall then have the sole, exclusive and irrevocable option to lease any Umicore Surrendered Lab Space (the “Lease Option”). The Lessee shall exercise the Lease Option by providing to the Lessor written notice within fifteen (15) days following the receipt of the Surrender Notice from the Lessor, which notice shall state its intention to exercise the Lease Option unconditionally, and set forth in a diagram the Umicore Surrendered Lab Space for which it is exercising the Lease Option (the “Option Additional Space”), failing which the Lease Option shall expire. Provided that the Lease Option has been exercised in this manner, the Lessee shall enter into a lease document for the Option Additional Space in the same form, mutatis mutandis, as the Lease, which lease document shall incorporate the following terms and conditions:
(a) the Lessee shall pay basic rent for the Option Additional Space in the amount of $10.00 per square foot up to and including June 30, 2015, plus its proportionate share operating costs applicable to the Option Additional Space;
(b) the term of the lease shall be co-extensive with the Term of Lease, with the rights of renewal and renewal term rents as provided for in the Lease, mutatis mutandis, to the Option Additional Space;
(c) the term shall commence on the first day of the month immediately succeeding the month during which Umicore vacated the Umicore Surrendered Lab Space;
(d) any improvements to the Option Additional Space shall be approved in advance by the Lessor, acting reasonably, and shall be planned and completed at the sole cost and risk of the Lessee. The Lessee’s possession of the Umicore Surrendered Lab Space shall be without payment of any Basic Rent or Additional Rent whatsoever for the first three months of the term, for the purpose of readying such premises for its occupancy by, inter alia, installation of such tenant improvements as approved by the Lessor. The Lessee...
Lease Option. SITC hereby grants CURB OP (or its Affiliate designee) the option, exercisable by CURB OP until the earlier of (i) the three-year anniversary of this Agreement or (ii) the termination of this Agreement pursuant to a Sanctioned Termination Event by delivering Notice to SITC, to enter into the Lease Agreement attached as Exhibit A for the space at the Owned Shared Corporate Offices described in the Lease Agreement upon the terms and conditions set forth in such Lease Agreement. Within five Business Days after CURB OP delivers the Notice exercising the option to SITE, each party to the Lease Agreement shall execute and deliver the Lease Agreement to the other party thereto. If CURB OP fails to timely give Notice to SITC as provided for in the immediately preceding sentence, CURB OP shall be deemed to have waived CURB OP’s option to enter into the Lease Agreement. The parties hereto will cooperate in good faith to make any changes reasonably required to the form of Lease Agreement attached as Exhibit A such that the Lease Agreement is in execution form, including appropriately completing any exhibits, placeholders or blanks.
Lease Option. In the alternative to purchasing such additional kiosks, higi may lease additional kiosks for a lease term of five (5) years per kiosk at the amount of One Hundred Twenty-Five U.S. Dollars ($125) per month (inclusive of Optional Support Services), and will adjust proportionally with the change in Xxxx of Materials as provided in Section 7.a.i. In the event that higi chooses to lease any additional kiosks, the parties expressly acknowledge and agree that they will negotiate and execute an appropriate lease agreement at that time.
Lease Option. If EUROIMMUN transfers the product to the client as part of a lease agreement, this Agreement remains in place for the entire product lease period.
Lease Option. At any time, at its sole discretion, Romarco may, upon giving Buckskin written notice, exercise an option to acquire a 100% leasehold interest in the Property, according to the terms of the Lease Agreement attached hereto as Schedule “B” (the “Lease Option Exercise”).
Lease Option. If the Lender's purchase of the Property is to proceed in accordance with Clause 2.5 of this Schedule Part 3A:-
Lease Option. Lessee shall have the option, if Lessee is not at the time in default under this Agreement, to extend the term of this Agreement for one (1) period of five (5) years each (the "Extension Term"), on the same terms, covenants and conditions herein contained. The word "Term" as used in this Agreement shall be deemed to include the Extension Term when and if the Agreement is extended. The option to extend the Term shall automatically be deemed to have been exercised unless Lessee shall deliver to Lessor written notice of Lessee's election not to extend as provided herein on or before one hundred eighty (180) days prior to the Expiration Date.
Lease Option. 22.1 LESSOR hereby grants LESSEE an irrevocable option to lease 20,000 square meters of land adjacent to the Leased Premises and marked for reference in the plot map attached hereto as exhibit "A-2" as the "Expansion Land or Option", and wherein LESSOR agrees to construct a building, based on specifications agreed to between LESSOR and LESSEE. The Option to lease the Expansion Land shall be in effect during the first five years of the Initial Lease Term of this lease and may be exercised in two phases by LESSEE, each for 10,000 square meters, marked for reference in the attached plot map as "Phase 1" and "Phase 2" (hereinafter referred as "Phase 1" and "Phase 2", respectively). The option granted shall be subject to the following terms:
Lease Option. At any time during the period beginning on the date a fully processed data set covering the Contract Area and the 3-D Survey License Area is delivered to each and every party hereto and ending with the termination of this Agreement, the FRONTIER GROUP shall have the right and option ("Option"), but not the obligation, to obtain from FINA a lease covering all or part of the FINA Fee Lands (excluding any Initially Excluded Lands). The Option shall give such rights to acquire such lease(s) to the FRONTIER GROUP to the exclusion of any person or entity not a party to this Agreement. The leasehold interest granted pursuant to such leases(s) shall be limited to that working interest set forth for the FRONTIER GROUP on Exhibit "B" hereto. The Option shall be exercised by giving written notice to FINA (with a copy to SPR) at the address set forth herein. In this notice the FRONTIER GROUP shall identify the acreage to be leased by legal description and tender a check in the amount of $150 per net mineral acre selected. The lease term shall be for three (3) years (with annual rentals of $150 per net mineral acre) and the landowner's royalty reserved unto FINA shall be 33.33% of 8/8ths. Within thirty days after receipt of such notice, FINA agrees to execute and deliver to the FRONTIER GROUP, jointly, one original of an oil and gas lease covering the acreage selected identical in form to the lease attached hereto and made a part hereof as Exhibit "C", and containing the identical terms and conditions as set forth therein.
