Option Premises Sample Clauses

Option Premises. The premises demised under the Option Agreement are the Purchase Option Property and the Resort Property, in each case as defined herein.
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Option Premises. (a) If at any time:
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Option Premises. If Tenant is not then in default under the Lease Tenant shall have the option to rent (the “Option”) an additional 26,800 square feet (the “Option Premises”) [but not a portion of the Option Premises] upon sixty (60) days prior written notice to Landlord. Effective as of the date that any existing tenant(s) vacates the Option Premises the Option Premises shall be deemed a portion of the Leased Premises for all purposes of the Lease and in the event Tenant exercises the Option: (i) Tenant shall pay Basic Rental for the Option Premises at the rate of $3.95 per square foot through the Termination Date and during each Renewal Term (as hereinafter defined) at the rate of $4.30 per square foot; and (ii) Tenant’s proportionate interest for all purposes of the Lease shall be increased from thirty-five and fifty-one one hundredths percent (35.51%) to fifty-three and ninety-six one hundredths percent (53.96%). Tenant shall accept the Option Premises in its “AS-IS” “WHERE-IS” condition.
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Option Premises. Commencing on the termination of the lease of the Intermediate Premises, the Lessor shall lease to the Lessee and the Lessee shall lease from the Lessor Parcel C for a period equal to fifteen (15) years. Notwithstanding anything herein to the contrary, in the event that the Lessor exercises its right to cancel the option of the Lessee to purchase Parcel C as described in the Option to Acquire Parcel C, attached hereto as Exhibit C, the lease of Parcel C by the Lessee shall terminate automatically upon the Lessor's payment of the Cancellation Price to the Lessee, regardless of whether this Lease then extends to the Initial Premises or the Intermediate Premises. In the event that the payment of the Cancellation Price by the Lessor occurs during the lease of the Option Premises, this Lease shall fully terminate upon the Lessor's payment of the Cancellation Price.
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Option Premises 
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Related to Option Premises

  • Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing.

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