Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Original Tenant two (2) options to extend the Lease Term each for a period of five (5) years (each, an "Option Term") with respect to the entire Premises then leased by Tenant. Such options shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely exercise of each such option to extend, the then-applicable Lease Term shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee).

Option Right. Landlord hereby grants the Original Tenant two Tenant, and any Permitted Assignee, one (21) options option to extend the Lease Term each for a period of five (5) years (each, an "the “Option Term") with respect to the entire Premises then leased by Tenant”). Such options option to extend shall be exercisable only by written notice delivered by Tenant to Landlord as provided belownot more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of the option to extend, and provided that, at Landlord’s option, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice under this Lease and grace periods has not previously been in default under this Lease more than twice during the preceding twelve (12) month period, and as of the end of the initial Lease Term, Tenant is not in default under this Lease. Upon the timely exercise of each such option to extend, the then-applicable Lease Term shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant any Permitted Assignee (and not any other assignee, sublessee or other transferee “Transferee,” as that term is defined in Section 14.1, below, of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee AssigneeLease).

Option Right. Landlord hereby grants the Original Tenant two one (21) options option to extend (“Extension Option”) the Lease Term each for a period of five (5) years (each, an "the “Option Term") with respect to the entire Premises then leased by Tenant. Such options ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-default under this Lease and Tenant has not previously been in monetary default beyond applicable notice and grace periods under this Lease. Upon the timely proper exercise of each such option to extendExtension Option, and provided that, at Landlord’s option, as of the end of the initial Lease Term, Tenant is not in monetary default under this Lease and Tenant has not previously been in monetary default under this Lease, the then-applicable Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants Tenant originally named in this Lease (the "Original Tenant two Tenant") one (21) options option to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") with respect to the entire Premises then leased by Tenant. Such options option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely exercise of each such option to extend, the then-applicable Lease Term shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee).

Option Right. Landlord hereby grants the Tenant originally ------------ named in the Lease (the "Original Tenant two Tenant") one (21) options option to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") with respect to the entire Premises then leased by Tenant. Such options ), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods (collectively, "Material Default") under this Lease. Upon the timely proper exercise of each such option to extend, and provided that, as of the then-applicable end of the initial Lease Term Term, Tenant is not in Material Default under this Lease, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant or any "Affiliate," as that term is defined in Section 14.7, below, and may only be exercised by the Original Tenant or any Affiliate (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant or any Affiliate occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the “Original Tenant two Tenant”) one (21) options option to extend the Lease Term each for a period of five (5) years (each, an "the “Option Term") with respect to the entire Premises then leased by Tenant. Such options ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease and Tenant has not previously been in default under this Lease more than once in any twelve (12) month period. Upon the timely proper exercise of each such option to extend, and provided that, at Landlord’s option, as of the then-applicable end of the initial Lease Term Term, Tenant is not in default under this Lease and Tenant has not previously been in default under this Lease more than once, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant physically occupies the entire Premises.

Option Right. Landlord hereby grants to the Original Tenant two and its Affiliate Assignee one (21) options option (the "Option") to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") ), with respect to the entire Premises then leased by Tenant. Such options Premises, which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease, and has not previously been in default under the Lease, as amended, more than once. Upon the timely proper exercise of each such option to extend, and provided that, at Landlord's option, as of the then-applicable end of the Term, Tenant is not in default under this Lease, and, at Landlord's option, Tenant has not previously been in default under this Lease Term more than once, the Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 10 shall be personal to the Original Tenant and its Affiliate Assignee and may only be exercised by the Original Tenant or its Affiliate Assignee only (and not by any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee AssigneeLease).

Option Right. Landlord hereby grants the Original Tenant two (2) options to extend the Lease Term each for a period of five (5) years each (each, an "Option TermOPTION TERM") with respect to the entire Premises then leased by Tenant. Such ), which options shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease and Tenant has not previously been properly declared in default under this Lease more than once. Upon the timely proper exercise of each any such option to extend, and provided that, as of the then-applicable end of the initial Lease Term or initial Option Term, as the case may be, Tenant is not in default under this Lease and Tenant has not previously been properly declared in default under this Lease more than once, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Original Tenant two one (21) options option to extend the Lease Term each (the "Option to Extend") for a period of five (5) years (each, an the "Option Term") with respect ), which Option to the entire Premises then leased by Tenant. Such options Extend shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond under the Lease after the expiration of all applicable notice and grace periods under this Leasecure periods. Upon the timely proper exercise of each such option Option to extendExtend and provided that, as of the end of the Lease Term, Tenant is not in monetary or material non-monetary default under the Lease after the expiration of all applicable cure periods, the then-applicable Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 2.3 shall not be personal to the Original Tenant and may only be exercised by the Original Tenant (and not or any other assignee, sublessee or other transferee of the Original Tenant's interest in this the Lease other than a Permitted Transferee Assignee)permitted under the Lease.

Option Right. Landlord hereby grants the Tenant named in the Summary (“Original Tenant two Tenant“), one (21) options option to extend the Lease Term each for a period of five one (51) years year (each, an "the “Option Term") with respect to the entire Premises then leased by Tenant. Such options “), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease. Upon the timely proper exercise of each such option to extend, and provided that, as of the then-applicable end of the initial Lease Term Term, Tenant is not in default under this Lease, the Lease Term, as it applies to the Premises, shall be extended for a period of five one (51) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the partiesyear. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally ------------ named in this Lease (the "Original Tenant two Tenant") one (21) options option to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") with respect to the entire Premises then leased by Tenant. Such options ), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease and Tenant has not previously been in default under this Lease more than once. Upon the timely proper exercise of each such option to extend, and provided that, as of the then-applicable end of the initial Lease Term Term, Tenant is not in default under this Lease and Tenant has not previously been in default under this Lease more than once, the Lease Term, it applies the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section ------- 2.2 shall be personal to the Original Tenant and may only be exercised by the --- Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Original Tenant two herein, or its Affiliate, one (21) options option to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") with respect to the entire Premises then leased by Tenant. Such options ), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this Lease, after expiration of any applicable cure periods. Upon the timely proper exercise of each such option to extend, and provided that, as of the then-end of the initial Lease Term, Tenant is not in default under this Lease the Lease Term, after expiration of any applicable Lease Term cure periods, as it applies to the Premises, including any first Offer Space then leased by Tenant, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 41 shall be personal to the Original Tenant and its Affiliates and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee).Lease) if Tenant occupies the entire Premises. 41.2

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant two Tenant"), one (21) options option to extend the Lease Term each for a period of five (5) years (each, an the "Option Term") with respect to the entire Premises then leased by Tenant. Such options ), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice and grace periods under this LeaseLease and Tenant has not previously been in default under this Lease more than once. Upon the timely proper exercise of each such option to extendextend the initial Lease Term, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease and Tenant has not previously been in default under this Lease more than once, the then-applicable Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease other than a Permitted Transferee Assignee)Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in the Summary (the “Original Tenant two Tenant”) one (21) options option to extend the Lease Term each for a period of five (5) years (each, an "the “Option Term") with respect to the entire Premises then leased by Tenant. Such options ”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in monetary or material non-monetary default beyond applicable notice under this Lease and grace periods Tenant has not previously been in default under this Lease. Upon the timely proper exercise of each such option to extend, and provided that, as of the then-applicable end of the initial Term, Tenant is not in default under this Lease Term and Tenant has not previously been in default under this Lease, the Term, for the entire Premises then being leased by Tenant, shall be extended for a period of five (5) years, on all of the same terms and conditions except that the Base Rent shall be equal to the Option Rent, and except for such other modifications as are then agreed upon by the parties. The rights contained in this Section 2.2 3.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant's ’s interest in this Lease other than a Permitted Transferee Assignee)Lease) if Original Tenant occupies the entire Premises.