Common use of Limitations on Renewal Option Clause in Contracts

Limitations on Renewal Option. If Tenant fails to exercise the Renewal Option within the time required, such failure shall automatically cancel such Renewal Option, and Tenant shall have no right, and Landlord shall have no obligation, to renew this Lease pursuant to such Renewal Option. If Tenant assigns or transfers any interest in this Lease or sublets any part of the Premises other than pursuant to a Permitted Transfer, then notwithstanding anything contained herein to the contrary, such assignment, transfer or sublease shall automatically cancel any Renewal Option which has not then been exercised and automatically cancel any previous exercise of the Renewal Option unless the Renewal Term has already then commenced or Landlord otherwise agrees in writing. In the event of any such cancellation, Tenant shall have no further rights under this Section.

Limitations on Renewal Option. If Tenant fails to exercise the a Renewal Option within the time required, such failure shall automatically cancel such Renewal Option, and Tenant shall have no right, and Landlord shall have no obligation, to renew this Lease pursuant to such Renewal Option. If Tenant assigns or transfers any interest in this Lease lease or sublets any part of the Premises (other than an assignment or subleases permitted pursuant to a Permitted TransferParagraph hereof), then notwithstanding anything contained herein to the contrary, such assignment, transfer or sublease shall automatically cancel any Renewal Option which has not then been exercised and automatically cancel any previous exercise of the any Renewal Option unless the subject Renewal Term has already then commenced or Landlord otherwise agrees in writingcommenced. In the event of any such cancellation, Tenant shall have no further rights under this Section.

Limitations on Renewal Option. If Tenant fails to exercise the Renewal Option within the time required, such failure shall automatically cancel such Renewal Option, and Tenant shall have no right, and Landlord shall have no obligation, to renew this Lease pursuant to such Renewal Option. If Tenant assigns or transfers any interest in this Lease lease or sublets any part of the Premises other than pursuant to a Permitted TransferLeased Premises, then notwithstanding anything contained herein to the contrary, such assignment, transfer or sublease shall automatically cancel any Renewal Option which has not then been exercised and automatically cancel any previous exercise of the Renewal Option unless the subject Renewal Term has already then commenced or Landlord otherwise agrees in writingcommenced. In the event of any such cancellation, Tenant shall have no further rights under this Section.