Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants Tenant originally named in this Lease (the "Original Tenant") one (1) option to extend the Lease Term for a period of five (5) years (the "Option Term") with respect to the entire Premises then leased by Tenant. Such option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely exercise of each such option to extend, the Lease Term shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee).

Option Right. Landlord hereby grants the Original Tenant originally named in this Lease (or a Permitted Assignee, as the "Original Tenant") case may be, one (1) option to extend the Lease Term for a period of five (5) years (the "“Option Term") with respect to the entire Premises then leased by Tenant. Such ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease after the expiration of any applicable cure period. Upon the timely proper exercise of each such option to extend, the Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than Lease), if the Original Tenant or a Permitted Transferee Assignee), as the case may be, occupies at least one (1) full floor of the Premises.

Option Right. Landlord hereby grants the Original Tenant originally named in this Lease (the "Original Tenant") one (1) option to extend (“Extension Option”) the Lease Term for a period of five (5) years (the "“Option Term") with respect to the entire Premises then leased by Tenant. Such ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-default under this Lease and Tenant has not previously been in monetary default beyond applicable notice and grace periods under this Lease. Upon the timely proper exercise of each 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 monetary default under this Lease and Tenant has not previously been in monetary default under this Lease, the Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Original Tenant originally named in this Lease two (the "Original Tenant"2) one (1) option options to extend the Lease Term each for a period of five (5) years (the each, an "Option Term") with respect to the entire Premises then leased by Tenant. Such option options shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely exercise of each such option to extend, the then-applicable Lease Term shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee).

Option Right. Landlord hereby grants the Tenant originally named in this Lease the Summary (the "“Original Tenant"”) one (1) option to extend the Lease Term for a period of five (5) years (the "“Option Term") with respect to the entire Premises then leased by Tenant. Such ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice under this Lease and grace periods Tenant has not previously been in default under this Lease. Upon the timely proper exercise of each such option to extend, and provided that, as of the end of the initial Term, Tenant is not in default under this Lease Term and Tenant has not previously been in default under this Lease, the Term, for the entire Premises then being leased by Tenant, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 3.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally named in this Lease the Summary (the "“Original Tenant") “), one (1) option to extend the Lease Term for a period of five one (51) years year (the "“Option Term") with respect to the entire Premises then leased by Tenant. Such “), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely 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 under this Lease, the Lease Term Term, as it applies to the Premises, shall be extended for a period of five one (51) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the partiesyear. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Subject to the terms hereof, Landlord hereby grants the Original Tenant originally named in this Lease or an Affiliate Assignee two (the "Original Tenant"2) one (1) option options to extend the Lease Term with respect to all of the Premises only for a period of five (5) years each (the "each, an “Option Term") with respect to the entire Premises then leased by Tenant. Such option ”), which options shall be exercisable only by written notice Notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such noticeNotice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease after the expiration of any applicable cure period (a “Material Default”). Upon the timely proper exercise of each such the applicable option to extend, and provided that, as of the end of the initial Lease Term, or prior Option Term, as applicable, Tenant is not in Material Default under this Lease, the Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not or any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Affiliate Assignee).

Option Right. Landlord hereby grants to the Original Tenant originally named in this Lease (the "Original Tenant") and its Affiliate Assignee one (1) option (the "Option") to extend the Lease Term for a period of five (5) years (the "Option Term") ), with respect to the entire Premises then leased by Tenant. Such Premises, which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease, and has not previously been in default under the Lease, as amended, more than once. Upon the timely proper exercise of each such option to extend, and provided that, at Landlord's option, as of the end of the Term, Tenant is not in default under this Lease, and, at Landlord's option, Tenant has not previously been in default under this Lease Term more than once, the Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 10 shall be personal to the Original Tenant and its Affiliate Assignee and may only be exercised by the Original Tenant or its Affiliate Assignee only (and not by any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee AssigneeLease).