Tenant Option Sample Clauses

Tenant Option. So long as this Lease is in full force and effect and Tenant is not in default beyond applicable notice and cure periods in the performance of any of the covenants or terms and conditions of this Lease at the time of notification to Landlord or at the time of commencement of the Extension Term, as that term is hereinafter defined, Tenant shall have the option to extend the Lease Term for one year (the “Extension Term”), at the Prevailing Market Rate (as hereinafter defined). Tenant shall provide Landlord with written notice three (3) months prior to the expiration of the Lease Term of its desire to extend the Lease Term of the Lease. Landlord shall provide Tenant with a written proposal setting forth its determination of the Prevailing Market Rate to extend the Lease Term of this Lease within thirty (30) days of such notice. Tenant shall have ten (10) days from its receipt of Landlord’s proposal to either accept such proposal or to not extend the Lease Term of the Lease. The “Prevailing Market Rate” shall mean the then prevailing market rate for lease renewals in the Office Building and in similar buildings in the vicinity of the Office Building comparable to the Lease and the Premises, which shall be determined by Landlord in its sole and absolute discretion. If Landlord and Tenant are unable to reasonably agree upon the Prevailing Market Rate within such 10-day period after Tenant’s receipt of Landlord’s proposal, then Tenant’s exercise of the Extension Option shall be null and void and of no further force and effect.
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Tenant Option. Tenant shall have one (1) option to extend the Term of this Lease for an additional period of three (3) years which will commence on the day following the last day of the Term (the "Extension Term"). The option for the additional period may be exercised by Tenant only by written notice (the "Extension Exercise Notice") given to Landlord not earlier than the date which is twelve (12) months prior and not later than the date which is at least nine (9) months prior to the expiration of the period of the Term (the "Extension Exercise Date"). Except as stated below in this Section 32, all of the terms and conditions of this Lease in effect immediately prior to the commencement of an extension period shall equally pertain in all respects to that extension period.
Sample 1
Tenant Option. Landlord hereby grants to Tenant the exclusive right to an option to purchase the Premises for Two Hundred Sixty Two Thousand and 00/100 Dollars ($262,000.00) (“Option”), beginning with the initial term of this Agreement and expiring at the expiration or termination of this Agreement including any renewal terms thereof. Tenant shall notify Landlord in writing, prior to the termination date of the option, of Xxxxxx’s intent to exercise the option to purchase. The Premises includes: (a) all buildings and other improvements on the land; and (b) all appurtenant rights, privileges, and easements.
Sample 1
Tenant Option. Tenant shall have two (2) options to extend the ------------- Term of this Lease each for an additional period of five (5) years (individually, an "Extension Term," and collectively, "Extension Terms") which will commence on the day following the last day of the Term, or the last day of the first Extension Term, if exercised. The option for each Extension Term may be exercised by Tenant only by written notice (the "Extension Exercise Notice") given to Landlord not earlier than the date which is twelve (12) months prior and not later than the date which is at least nine (9) months prior to the expiration of the period of the Term, or the expiration of the period of the first Extension Term, if exercised (the "Extension Exercise Date"). Except as stated below in this Article, all of the terms and conditions of this Lease in effect immediately prior to the commencement of an Extension Term shall equally pertain in all respects to that Extension Term.
Sample 1

Related to Tenant Option

  • Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing.

  • Tenant The complete name of every Tenant who will enter this lease with the intention of renting the Landlord’s property as a month-to-month rental is a necessary part of this document’s introduction. (3)

  • Leased Premises Lessor hereby leases to Lessee, and Lessee leases and takes from Lessor, the Leased Premises subject to the conditions of this Lease.

  • The Premises Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises set forth in Section 2.2 of the Summary (the “Premises”). The outline of the Premises is set forth in Exhibit A attached hereto, and an outline of the Project is set forth in Exhibit A-1 attached hereto. The parties hereto agree that the lease of the Premises is upon and subject to the terms, covenants and conditions herein set forth, and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of such terms, covenants and conditions by it to be kept and performed and that this Lease is made upon the condition of such performance. The parties hereto hereby acknowledge that the purpose of Exhibit A is to show the approximate location of the Premises in the “Building,” as that term is defined in Section 1.1.2, below, only, and such Exhibit is not meant to constitute an agreement, representation or warranty as to the construction of the Premises, the precise area thereof or the specific location of the “Common Areas,” as that term is defined in Section 1.1.3, below, or the elements thereof or of the accessways to the Premises or the “Project,” as that term is defined in Section 1.1.2, below. Except as specifically set forth in this Lease, Tenant shall accept the Premises in its presently existing “as-is” condition and Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises. Tenant also acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty regarding the condition of the Premises, the Building or the Project or with respect to the suitability of any of the foregoing for the conduct of Tenant’s business, except as specifically set forth in this Lease. However, notwithstanding the foregoing, Landlord agrees that base Building electrical, mechanical, heating, ventilation and air conditioning and plumbing systems located in the Premises shall be in good working order and the roof shall be water tight as of the date Landlord delivers possession of the Premises to Tenant. Except to the extent caused by the acts or omissions of Tenant or any Tenant Parties (as defined in Section 10.13 below) by any alterations or improvements performed by or on behalf of Tenant, if such systems and/or the roof are not in good working order as of the date possession of the Premises is delivered to Tenant and Tenant provides Landlord with notice of the same within ninety (90) days following the date Landlord delivers possession of the Premises to Tenant, Landlord shall be responsible for repairing or restoring the same at Landlord’s sole cost and expense. Subject to any repairs or restoration required by the immediately preceding sentence, the commencement of business operations from the Premises by Tenant shall presumptively establish that the Premises and the Building were at such time in good and sanitary order, condition and repair. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Premises, the Building and the Project have not undergone inspection by a Certified Access Specialist (CASp).

  • LANDLORD The covenants and obligations contained in this Lease on the part of Landlord are binding on Landlord, its successors, and assigns only during their respective period of ownership of an interest in the Building. In the event of any transfer or transfers of such title to the Building, Landlord (and, in the case of any subsequent transfers or conveyances, the then grantor) shall be concurrently freed and relieved from and after the date of such transfer or conveyance, without any further instrument or agreement, of all liability with respect to the performance of any covenants or obligations on the part of Landlord contained in this Lease thereafter to be performed.

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