Common use of OPTIONS PERSONAL TO ORIGINAL LESSEE Clause in Contracts

OPTIONS PERSONAL TO ORIGINAL LESSEE. Each Option granted to Lessee in this Lease is personal to the original Lessee named in Paragraph 1.1 hereof, and cannot be voluntarily or involuntarily assigned or exercised by any person or entity other than said original Lessee while the original Lessee is in full and actual possession of the Premises. The Options, if any, herein granted to Lessee are not assignable, either as a part of an assignment of this Lease or separately or apart therefrom, and no Option may be separated from this Lease in any manner, by reservation or otherwise. Notwithstanding the foregoing, each Option shall be exercisable by an affiliate of Lessee should the Lease have previously been assigned to such affiliate.

Appears in 3 contracts

Samples: Photon Dynamics Inc, Oculex Pharmaceuticals Inc /, Photon Dynamics Inc

AutoNDA by SimpleDocs

OPTIONS PERSONAL TO ORIGINAL LESSEE. Each The Option granted to Lessee in this Lease is personal to the original Lessee named in Paragraph 1.1 hereof, hereof and any affiliate and cannot be voluntarily or involuntarily assigned or exercised by exercise any person or entity other than said original Lessee or any affiliate while the original Lessee is in full and actual possession of the PremisesPremises and without the intention of thereafter assigning or subletting. The Options, if any, herein granted to Lessee are not assignable, except to any affiliate either as a part of an assignment of this Lease or separately or apart therefrom, and no Option may be separated from this Lease in any manner, by reservation or otherwise. Notwithstanding the foregoing, each Option shall be exercisable by an affiliate of Lessee should the Lease have previously been assigned to such affiliate.

Appears in 1 contract

Samples: Burke Industries Inc /Ca/

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!