Option to Lease. The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Institution from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Institution containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Institution agrees to assume all leases assigned (or enter into subleases or new leases in lieu thereof) pursuant to this Section 4.6. If the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for the Fixtures, Furniture and Equipment located on such leased Bank Premises.
Option to Lease. The Receiver hereby grants to the Assuming Institution an exclusive option for the period of sixty (60) days commencing the day after the Bank Closing Date to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, to the extent such leases can be assigned; provided that the exercise of this option with respect to any lease must be as to all premises or other property subject to such lease. To the extent the lease payments provided for in any assigned lease are minimal in relation to the current market rate, and the value of that difference is not otherwise reflected in the purchase of the associated Fixtures, the Assuming Institution shall pay the Receiver the Fair Market Value of the Receiver’s interest in any such assigned lease. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into new leases in lieu thereof). The Assuming Institution shall assume all leases assigned (or enter into new leases in lieu thereof) pursuant to this Section 4.6.
Option to Lease. The Receiver grants to the Assuming Institution an exclusive option for the period of sixty (60) days commencing the day after the Bank Closing Date to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, to the extent those leases can be assigned; provided that the exercise of this option with respect to any lease must be as to all premises or other property subject to that lease. To the extent the lease payments provided for in any assigned lease are minimal in relation to the current market rate as determined by the Receiver, the Assuming Institution will pay the Receiver the Market Value of the Receiver’s interest in that assigned lease. The Assuming Institution will give written notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into new leases in lieu thereof). The Assuming Institution will assume all leases assigned (or enter into new leases in lieu thereof) pursuant to this Section 4.6.
Option to Lease. (a) Landlord grants to Tenant an option (the "Option") to lease a portion of the Property consisting of (i) a room/cabinet/ground area space of approximately One thousand five hundred forty six (1546) square feet approximately 70’ x 13.5’ including the air space above such room/cabinet/ground space and (ii) space on the structure together with such easements as are necessary for the antennas and initial installation as described on attached Exhibit 1 (collectively, the "Premises").
(b) During the Option period and any extension thereof, and during the term of this Agreement, Tenant and its agents, engineers, surveyors and other representatives will have the right to enter upon the Property to inspect, examine, conduct soil borings, drainage testing, material sampling, radio frequency testing and other geological or engineering tests or studies of the Property (collectively, the "Tests"), to apply for and obtain licenses, permits, approvals, or other relief required of or deemed necessary or appropriate at Tenant’s sole discretion for its use of the Premises and include without limitation applications for zoning variances, zoning ordinances, amendments, special use permits, and construction permits (collectively, the "Government Approvals"), initiate the ordering and/or scheduling of necessary utilities, and otherwise to do those things on or off the Property that, in the opinion of Tenant, are necessary in Tenant’s sole discretion to determine the physical condition of the Property, the environmental history of the Property, Landlord’s title to the Property and the feasibility or suitability of the Property for Tenant’s Permitted Use, all at Tenant’s expense. Tenant will not be liable to Landlord or any third party on account of any pre-existing defect or condition on or with respect to the Property, whether or not such defect or condition is disclosed by Tenant’s inspection. Tenant will restore the Property to its condition as it existed at the commencement of the Option Term (as defined below), reasonable wear and tear and casualty not caused by Tenant excepted. In addition, Tenant shall indemnify, defend and hold Landlord harmless from and against any and all injury, loss, damage or claims arising directly out of Tenant’s Tests.
(c) In consideration of Landlord granting Tenant the Option, Tenant agrees to pay Landlord the sum of FIVE HUNDRED and No/100 Dollars ($500.00) within thirty (30) business days of the Effective Date. The Option will be for an in...
Option to Lease. In the event that (a) Landlord has not entered into a lease for any or all of Suites 201, 203 and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right to lease under Section 15.03 above, then as long as Tenant is not in default under the terms of this Lease, Tenant shall, subject to the provisions of Section 15.03, have the right upon thirty (30) days prior written notice to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its option to lease Suites 201, 203 and 209 in accordance with this Section 15.04, the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease for such space shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy of Suites 201, 203 and 209 under the provisions of this Section 15.04 shall be upon all the same terms and conditions set forth in this Lease. Tenant agrees to accept Suites 201, 203 and 209 in "AS IS" condition. Notwithstanding any of the foregoing provisions of this Section 15.04 to the contrary, the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the right to exercise its rights under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third party.
Option to Lease. The Receiver hereby grants to the Assuming Bank an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Bank any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Bank from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Bank containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Bank shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Bank agrees to assume all leases assigned (or enter into subleases in lieu thereof) pursuant to this Section 4.6.
Option to Lease. Upon expiration or termination of this Agreement in its entirety, CLIENT shall have the option to enter a long-term lease of the Singapore Facility or the portion of the Singapore Facility where Products are manufactured or purchase the Singapore Facility if production of Products occupy one hundred percent (100%) of the Singapore Facility or are the only products manufactured in the Singapore Facility, provided that such option shall be subject to good faith negotiations between the Parties regarding the terms of any such lease or purchase agreement, on terms and conditions to be negotiated in good faith and included in the lease. Notwithstanding the foregoing, if CLIENT exercises such option, LONZA will have the right to rent back those portions of the Singapore Facility necessary to continue to use the Singapore Facility to fulfill existing manufacturing obligations until such obligations are able to be reasonably transitioned to other Facilities.
Option to Lease. During the term of this Agreement, or during the term of any extension hereof, LICENSEE may exercise an option to lease the PREMISES pursuant to the terms and conditions set forth in the Mining Lease attached hereto as EXHIBIT "B" and made a part hereof as though set forth in its entirety. The option to lease shall be deemed exercised when LICENSOR has received a certified check in the amount of Five Thousand Dollars ($5,000.00), together with two (2) copies of EXHIBIT "B" that have been executed by LICENSEE. LICENSOR shall sign one copy and return it promptly to LICENSEE. If LICENSOR is the owner at the date of exercise of this option of less than one hundred percent (100%) of the title to the PREMISES, LICENSOR shall receive an amount equal to LICENSOR's percentage ownership multiplied by Five Thousand Dollars ($5,000.00) pursuant to this paragraph. 49.
Option to Lease. In consideration of the sum of FIFTY THOUSAND AND --------------- NO/ 100 DOLLARS ($50,000.00) (hereinafter referred to as the "First Fee") to be paid to the Company upon execution hereof, the Company hereby grants to divine interVentures, inc. (hereinafter referred to as the "Tenant") an option (hereinafter referred to as the "Option") to enter into the Lease, as described in Paragraph 7 hereof, on or prior to July 31, 1999 (said date is hereinafter referred to as the "End of the Option". Tenant may extend the End of the Option for seven (7) additional calendar months upon payment of an additional amount of FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00) to the Company for each such extension, on or before: (i) August 1, 1999, with respect to an extension of the End of the Option to August 31, 1999; (ii) September 1, 1999, with respect to an extension of the End of the Option to September 30, 1999; (iii) October 1, 1999 with respect to an extension of the End of the Option to October 31, 1999; (iv) November 1, 1999 with respect to an extension of the End of the Option to November 30, 1999; (v) December 1, 1999 with respect to an extension of the End of the Option to December 31, 1999; (vi) January 1, 2000 with respect to an extension of the End of the Option to January 31, 2000; and (vii) February 1, 2000 with respect to an extension of the End of the Option to February 28, 2000 (the aggregate additional amounts so paid is hereinafter referred to as the "Additional Fee," and the sum of the Additional Fee and the First Fee is hereinafter referred to as the "Fee"). In the event that Tenant fails to pay any monthly installment of the Additional Fee in a timely manner: the Tenant shall be deemed to have elected to not exercise the Option and all previously paid installments of the Fee shall be deemed to be forfeited to the Company. In the event that the Tenant exercises the Option, the Fee shall be returned to Tenant. Furthermore, you agree that, in further consideration of the grant of the Option and provided that the Tenant does not enter into the Lease or purchase the Property on or before February 28, 2000, Tenant shall, within five (5) days after demand therefor by the Company, pay Two Hundred Thousand Dollars and No Cents ($200,000.00) (the "Building Material Loss Fee") to the Company. Additionally, in further consideration of the grant of the Option; (i) Tenant shall pay all design and engineering fees and costs incurred with respect to the proposed ren...
Option to Lease. Optionor hereby grants to Optionee an Option to Lease the Land (hereinafter "Option to Lease") , which Option to Lease shall be exercisable by Optionee for a period of nine (9) months after the execution of this Agreement (the "Lease Option Period") (i.e., the last date of the Lease Option Period will be November 13, 1997). The form of the Lease ("the Lease") which is to be the subject of the Option to Lease is attached hereto as Exhibit "2". The Lease Commencement Date shall not be later than the day following the end of the Lease Option Period, or any extension thereof. The Lease will not be effective until the Lease Jd / P.S. --------------------- initials / initials 1 Commencement Date, whether or not it is signed prior to the Lease Commencement Date, and the Lease shall be signed by Optionor (as Lessor) and Optionee (as Lessee) on or before the Lease Commencement Date.
