Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Original Tenant or a Permitted Assignee, as the case may be, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), 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 default under this Lease after the expiration of any applicable cure period. Upon the proper exercise of each such option to extend, the Lease Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of Tenant’s interest in this Lease), if the Original Tenant or a Permitted Assignee, as the case may be, occupies at least one (1) full floor of the Premises.

Option Right. Landlord hereby grants the Original Tenant or a Permitted Assignee, as the case may be, one two (12) option options to extend the Lease Term each for a period of five (5) years (the “each, an "Option Term”), which option ") 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 after the expiration of any applicable cure periodLease. Upon the proper timely exercise of each such option to extend, the then-applicable Lease Term, as it applies to the Premises, 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 or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s 's interest in this Lease), if the Original Tenant or Lease other than a Permitted Transferee Assignee, as the case may be, occupies at least one (1) full floor of the Premises).

Option Right. Landlord hereby grants Tenant originally named in this Lease (the "Original Tenant or a Permitted Assignee, as the case may be, Tenant") one (1) option to extend the Lease Term for a period of five (5) years (the “"Option Term”), which ") with respect to the entire Premises then leased by Tenant. Such 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 the expiration of any applicable cure periodLease. Upon the proper timely exercise of each such option to extend, the Lease Term, as it applies to the Premises, 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 or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s 's interest in this Lease), if the Original Tenant or Lease other than a Permitted Transferee Assignee, as the case may be, occupies at least one (1) full floor of the Premises).

Option Right. Landlord hereby grants the Tenant named in the Summary (“Original Tenant or a Permitted Assignee, as the case may beTenant“), one (1) option to extend the Lease Term for a period of five one (51) years year (the “Option Term”“), 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 default under this Lease after the expiration of any applicable cure periodLease. Upon the proper exercise of each such option to extend, and provided that, as of the end of the initial Lease 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) yearsyear. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease), ) if the Original Tenant or a Permitted Assignee, as occupies the case may be, occupies at least one (1) full floor of the entire Premises.

Option Right. Subject to the terms hereof, Landlord hereby grants the Original Tenant or a Permitted Assignee, as the case may be, one an Affiliate Assignee two (12) option options to extend the Lease Term with respect to all of the Premises only for a period of five (5) years each (the each, an “Option Term”), which option options shall be exercisable only by written notice Notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such noticeNotice, Tenant is not in monetary default under this Lease after the expiration of any applicable cure periodperiod (a “Material Default”). Upon the proper exercise of each such the applicable option to extend, and provided that, as of the end of the initial Lease Term, or prior Option Term, as applicable, 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. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted any Affiliate Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of Tenant’s interest in this Lease), if the Original Tenant or a Permitted Assignee, as the case may be, occupies at least one (1) full floor of the Premises.

Option Right. Landlord hereby grants the Tenant named in the Summary (the “Original Tenant or a Permitted Assignee, as the case may be, Tenant”) one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), 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 default under this Lease after the expiration of any applicable cure periodand Tenant has not previously been in default under this Lease. Upon the proper exercise of each such option to extend, and provided that, as of the Lease end of the initial Term, as it applies to Tenant is not in default under this Lease and Tenant has not previously been in default under this Lease, the PremisesTerm, for the entire Premises then being leased by Tenant, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 3.2 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of the Original Tenant’s interest in this Lease), ) if the Original Tenant or a Permitted Assignee, as occupies the case may be, occupies at least one (1) full floor of the entire Premises.

Option Right. Landlord hereby grants to the Original Tenant or a Permitted Assignee, as the case may be, and its Affiliate Assignee one (1) option (the "Option") to extend the Lease Term for a period of five (5) years (the “"Option Term”"), with respect to the entire 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 default under this Lease after Lease, and has not previously been in default under the expiration of any applicable cure periodLease, as amended, more than once. Upon the proper exercise of each such option to extend, and provided that, at Landlord's option, as of the 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 more than once, the Term, as it applies to the Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 10 shall be personal to the Original Tenant or a Permitted Assignee, as the case may be, and its Affiliate Assignee and may only be exercised by the Original Tenant or a Permitted Assignee, as the case may be its Affiliate Assignee only (and not by any other assignee, or any sublessee or other transferee of Tenant’s 's interest in this Lease), if the Original Tenant or a Permitted Assignee, as the case may be, occupies at least one (1) full floor of the Premises.