Effect of Default on Option. (1) Lessee shall have no right to exercise the Option, notwithstanding any provision in the grant of option to the contrary during the time that an Event of Default exists or if Lessor in the twelve months prior the day on which Lessee exercises the Option Lessor has given to Lessee two (2) or more notices to cure an Event of Default or if during the last twenty four (24) months of the original term Lessee has incurred a late charge on account of the late payment of Base Monthly Rent on three (3) or more separate occasions.
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Samples: Commercial Lease (Audentes Therapeutics, Inc.), Net Commercial Lease (Audentes Therapeutics, Inc.)
Effect of Default on Option. (1) Lessee 1)Lessee shall have no right to exercise the Option, notwithstanding any provision in the grant of option to the contrary during the time that an Event of Default exists or if Lessor in the twelve (12) months prior to the day on which Lessee exercises the Option Option, Lessor has given to Lessee two (2) or more notices to cure an Event of Default or if during the last twenty twenty-four (24) months of the original term Lessee has incurred a late charge on account of the late payment of Base Monthly Rent on three (3) or more separate occasions.
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Samples: Net Commercial Lease
Effect of Default on Option. (1) Lessee shall have no right to exercise the Option, notwithstanding any provision in the grant of option to the contrary during the time that an Event of Default exists or if Lessor in the twelve (12) months prior to the day on which Lessee exercises the Option Option, Lessor has given to Lessee two (2) or more notices to cure an Event of Default or if during the last twenty twenty-four (24) months of the original term Lessee has incurred a late charge on account of the late payment of Base Monthly Rent on three (3) or more separate occasions.
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