Common use of Relative Position of Option and Indenture Clause in Contracts

Relative Position of Option and Indenture. The option granted to the Lessee in this Article shall be and remain prior and superior to the Indenture and may be exercised whether or not the Lessee is in default under this Lease, provided that such default will not result in nonfulfillment of any condition to the exercise of any such option and further provided that all options herein granted shall terminate upon the termination of this Lease.

Relative Position of Option and Indenture. The option granted to the Lessee Tenant in this Article shall be and remain prior and superior to the Indenture and may be exercised whether or not the Lessee Tenant is in default under this Lease, provided that such default will not result in nonfulfillment of any condition to the exercise of any such option and further provided that all options herein granted shall terminate upon the termination of this Lease.