Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants Tenant one (1) option to extend the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Notice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods under the Lease and Tenant has not been in default beyond the expiration of any applicable notice and cure period more than twice in any one Lease Year. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, under the Lease, the initial Lease Term shall be extended for the Option Term. The rights contained in this Article 30 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise Notice.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant”), and any assignee of Original Tenant's entire interest in the Lease that has been approved in accordance with the terms of Article 14, below, including any assignee pursuant to an assignment referred to in Section 14.8 below (a “Permitted Assignee”), one (1) option to extend the initial Lease Term for the entire Premises for a period of five eight (5) 8) years (the "“Option Term"”), which . Such option to extend shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided belownot more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of the option to extend, and provided that, at Landlord’s option, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods under the this Lease and Tenant has not been in default (beyond the expiration of any applicable notice and cure period period) and has not previously been in economic or material non-economic default under this Lease (beyond the applicable notice and cure period) more than twice in any one Lease Year. Upon the proper exercise of such option to extendtwice, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, default (beyond the applicable notice and cure period) under the this Lease, the initial Lease Term shall be extended for the Option Term. The rights contained in this Article 30 shall be personal extended, subject to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise Notice.provisions of

Option Right. Landlord hereby grants Tenant one the tenant named in this Lease or any permitted assignee or sublessee pursuant to Section 8.8 (1the "Original Tenant") option five (5) options (the "Options" or a "Option") to extend the initial term of the Lease Term for the entire Premises for a period of five (5) years each (the "each, an 'Option Term"), which option . Each Option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant there is not in a state continuing Event of uncured monetary or other default following the expiration of the applicable cure periods under the Lease Default hereunder, and Tenant there has not previously been in default an Event of Default beyond the expiration of any applicable notice and cure period more than twice in any one Lease Yeartwice. Upon the proper exercise of such option to extendan Option, and provided that, as of the end of the initial Lease Primary Term or applicable Option Term, Tenant there is not in default, as described above, a continuing Event of Default under the Lease, and there has not previously been an Event of Default beyond any applicable notice and cure period under this Lease more than twice, the initial term of this Lease Term shall be extended for the Option Terma period of five (5) years. The rights contained in this Article 30 Section 2.2 shall be personal to the original Original Tenant executing the Lease and any Affiliate permitted assignee pursuant to Section 8.8 and may only be exercised by only if the original Original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, permitted assignee pursuant to Section 8.8 occupies the entire Premises as of the date of the Exercise NoticeProperty.

Option Right. Landlord hereby grants the Original Tenant, any assignee of Tenant one permitted under Article 14 of this Lease, and any “Affiliate” (1as that term is defined in Section 14.8 below) option (collectively, the “Right Holders”), two (2) options to extend the initial Lease Term for the entire Premises for a period of five (5) years each (the "each an “Option Term"” and collectively, the “Option Terms”), which option options shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods Default under the this Lease and Tenant has not been in default beyond the expiration of any applicable notice and cure period more than twice in any one Lease Yearperiods set forth herein. Upon the proper exercise of each such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, under Term or the Lease, the initial Lease Term shall be extended for the first Option Term. The rights contained in this Article 30 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, Tenant is not in Default under this Lease beyond any applicable notice and cure periods set forth herein, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to the Right Holders, and may only be exercised by such Right Holders (and not any other assignee, sublessee or other transferee of Tenant's ’s interest in the this Lease) if the original Tenant or Affiliate, as the case may be, occupies the entire Premises as such entities occupy at least one (1) full floor of the date of the Exercise NoticePremises.

Option Right. Landlord hereby grants the Original Tenant, any assignee of Tenant permitted under Article 14 of this Lease, and any "Affiliate" (as that term is defined in Section 14.8 below) (collectively, the "RIGHT HOLDERS"), one (1) option to extend the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"OPTION TERM" ), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods Default under the this Lease and Tenant has not been in default beyond the expiration of any applicable notice and cure period more than twice in any one Lease Yearperiods set forth herein. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default, as described above, under Term or the Lease, the initial Lease Term shall be extended for the first Option Term. The rights contained in this Article 30 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, Tenant is not in Default under this Lease beyond any applicable notice and cure periods set forth herein, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to the Right Holders, and may only be exercised by such Right Holders (and not any other assignee, sublessee or other transferee of Tenant's interest in the this Lease) if such entities collectively occupy the original Tenant or Affiliate, as the case may be, occupies the entire Premises as not less than fifty percent (50%) of the date of the Exercise NoticePremises.

Option Right. Landlord hereby grants the originally named Tenant herein (or any affiliate to which this Lease has been assigned pursuant to Paragraph 24(c) above (a "Permitted Assignee")), one (1) option to extend the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the under this Lease beyond any applicable cure periods under the Lease period and Tenant has not previously been in default under this Lease beyond the expiration of any applicable notice and cure period more than twice once in any one Lease Yearthe prior twenty-four (24) months. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in defaultdefault under this Lease beyond any applicable cure period and Tenant has not previously been in default beyond any applicable cure period under this Lease more than once in the prior twenty-four (24) months, the Term, as described aboveit applies to the Premises, under the Lease, the initial Lease Term shall be extended for a period of five (5) years at the Option Termmonthly base rent and on the other terms set forth in Paragraph 41(b) below. The rights contained in this Article 30 Paragraph 41 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise Noticea Permitted Assignee.

Option Right. Landlord hereby grants Original Tenant one (1) option to extend the initial Lease Term for the entire Premises for a period of five three (53) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods under the Lease and Tenant has not been in default this Lease, beyond the expiration of any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than twice in any one Lease Yeartwo (2) times. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in defaultdefault under this Lease, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times, the Lease Term, as described aboveit applies to the Premises, under the Lease, the initial Lease Term shall be extended for the Option Terma period of three (3) years. The rights contained in this Article 30 Section 2.3 shall be personal to the original Tenant executing the Lease and any Affiliate Original Tenant, and may only be exercised by the original Original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise NoticePremises.

Option Right. Landlord hereby grants the Tenant named in the preamble to this Lease (the "Original Tenant") one (1) option to extend the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided belownot less than nine (9) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of under this Lease beyond the applicable cure periods under the Lease period and Tenant has not previously been in material default beyond the expiration of any applicable notice and cure period under this Lease more than twice in any one Lease Yearonce. Upon the proper exercise of such the option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in defaultdefault under this Lease beyond the applicable cure period and Tenant has not previously been in material default under this Lease more than once, the Lease Term, as described aboveit applies to the Premises, under the Lease, the initial Lease Term shall be extended for the Option Terma period of five (5) years. The rights contained in this Article 30 Section 2.2 shall be personal to the original Original Tenant executing the Lease and except for any Affiliate assignee permitted under Section 14.7 and may only be exercised by the original Original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in the Leasethis Lease except for any assignee permitted under Section 14.7) if the original Original Tenant or Affiliate, as the case may be, occupies the entire Premises as at least 60% of the date of the Exercise NoticePremises.

Option Right. Landlord hereby grants the originally named Tenant herein (or any assignee to which this Lease has been assigned pursuant to Paragraph 24(c) above (a "Permitted Assignee")), one (1) option to extend the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the under this Lease beyond any applicable cure periods under the Lease period and Tenant has not previously been in default under this Lease beyond the expiration of any applicable notice and cure period more than twice once in any one Lease Yearthe prior twenty-four (24) months. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in defaultdefault under this Lease beyond any applicable cure period and Tenant has not previously been in default beyond any applicable cure period under this Lease more than once in the prior twenty-four (24) months, the Term, as described aboveit applies to the Premises, under the Lease, the initial Lease Term shall be extended for a period of five (5) years at the Option Termmonthly base rent and on the other terms set forth in Paragraph 41(b) below. The rights contained in this Article 30 Paragraph 41 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise Noticea Permitted Assignee.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant"), one (1) option to extend ("Extension Option") the initial Lease Term for the entire Premises for a period of five (5) years (the "Option Term"), which option shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the applicable cure periods under the Lease and Tenant has not been in default this Lease, beyond the expiration of any applicable notice and cure period periods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure periods, more than twice in any one Lease Yearonce. Upon the proper exercise of such option to extendExtension Option, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in defaultdefault under this Lease, beyond any applicable notice and cure periods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure periods, more than once, the Lease Term, as described aboveit applies to the Premises, under the Lease, the initial Lease Term shall be extended for the Option Terma period of five (5) years. The rights contained in this Article 30 Section 2.2 shall be personal to the original Original Tenant executing the Lease and any Affiliate and may only be exercised by the original Original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the this Lease) if the original Original Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise NoticePremises.

Option Right. Landlord hereby grants the originally named Tenant one herein (1or any affiliate to which this Lease has been assigned pursuant to Subparagraph 24(c) option above (a “Permitted Assignee”)), two (2) options to extend the initial Lease Term for the entire Premises for a period of five (5) years each (the "“Option Term"Terms”), which option options shall be exercisable only by written Exercise Notice (as defined below) notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant is not in a state of uncured monetary or other default following the expiration of the under this Lease beyond any applicable cure periods under the Lease period and Tenant has not previously been in default under this Lease beyond the expiration of any applicable notice and cure period more than twice once in any one Lease Yearthe prior twelve (12) months. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, under Term or the Lease, the initial Lease Term shall be extended for the first Option Term. The rights contained in this Article 30 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the original Tenant or Affiliate, as the case may be, (Tenant is not in default under this Lease beyond any applicable cure period and Tenant has not previously been in default beyond any other assignee, sublessee or other transferee of Tenant's interest applicable cure period under this Lease more than once in the Leaseprior twelve (12) if months, the original Term, as it applies to the Premises, shall be extended for a period of five (5) years at the monthly base rent and on the other terms set forth in Subparagraph 40(b) below. The rights contained in this Paragraph 40 shall be personal to Tenant or Affiliate, as the case may be, occupies the entire Premises as of the date of the Exercise Noticea Permitted Assignee.

Option Right. Landlord hereby grants Tenant one the tenant named in this Lease or any permitted assignee or sublessee pursuant to Section 8.8 (1the "Original Tenant") option five (5) options (the "Options" or a "Option") to extend the initial term of the Lease Term for the entire Premises for a period of five (5) years each (the each, an "Option Term"), which option . Each Option shall be exercisable only by written Exercise Notice (as defined below) delivered notice delivered-by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Noticenotice, Tenant there is not in a state continuing Event of uncured monetary or other default following the expiration of the applicable cure periods under the Lease Default hereunder, and Tenant there has not previously been in default an Event of Default beyond the expiration of any applicable notice and cure period more than twice in any one Lease Yeartwice. Upon the proper exercise of such option to extendan Option, and provided that, as of the end of the initial Lease Primary Term or applicable Option Term, Tenant there is not in default, as described above, a continuing Event of Default under the LeaseLease and there has not previously been an Event of Default beyond any applicable notice and cure period under this Lease more than twice, the initial term of this Lease Term shall be extended for the Option Terma period of five (5) years. The rights contained in this Article 30 Section 2.2 shall be personal to the original Original Tenant executing the Lease and any Affiliate permitted assignee pursuant to Section 8.8 and may only be exercised by only if the original Original Tenant or Affiliate, as the case may be, (and not any other assignee, sublessee or other transferee of Tenant's interest in the Lease) if the original Tenant or Affiliate, as the case may be, permitted assignee pursuant to Section 8.8 occupies the entire Premises as of the date of the Exercise NoticeProperty.