Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, one (1) option to extend the Lease Term for the entire Premises by a period of seven (7) years (the “Option Term”). Such option shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Notice, (i) Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term. Upon the proper exercise of such option to extend, and provided that, at Landlord’s election, as of the end of the Lease Term, (A) Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term, then the Lease Term, as it applies to the entire Premises, shall be extended for a period of seven (7) years. The rights contained in this Section 2.2 shall only be exercised by the Original Tenant or its Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least seventy-five percent (75%) of the then-existing Premises.

Option Right. Landlord hereby grants to the Original Tenant and its Permitted Transferee AssigneeTenant, one (1) option to extend the Lease Term for the entire Premises by a period of seven five (75) years (the “Option Term”). Such The option to extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) notice delivered by Tenant to Landlord as provided in Section 2.2.3, below, provided that, as of the date of delivery of such Noticenotice, (i) Tenant is not then in default under this Lease, and (ii) Tenant an Option Nullification Default has not been in monetary default occurred under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Termthen remains uncured. Upon the proper exercise of such the option to extend, and provided that, at Landlord’s electionoption, as of the end of the initial Lease Term, (A) Tenant is not in default under this Lease, and (B) Tenant an Option Nullification Default has not been in monetary default occurred under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of then remains uncured, the Lease Term, then the Lease Term, as it applies to the entire Premises, Term shall be extended for a period of seven five (75) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant and any Permitted Transferee and may only be exercised by the Original Tenant or its a Permitted Transferee Assignee (and not any other assignee, assignee or sublessee or other transferee Transferee of the Original Tenant’s interest in this Lease) if the Original Tenant and/or its or a Permitted Transferee Assignee is in occupancy of Transferee, as the case may be, occupies at least seventy-five percent (75%) of the then-existing Premises. In the event that Tenant fails to timely and appropriately exercise its option to extend in accordance with the terms of this Section 2.2, then the option to extend granted to Tenant pursuant to the terms of this Section 2.2 shall automatically terminate and shall be of no further force or effect.

Option Right. Landlord hereby grants to the originally named Tenant herein (the “Original Tenant Tenant”) and its any Permitted Transferee Assignee, one (1) option to extend the Lease Term for the entire Premises by a period of seven five (75) years (the “Option Term”). Such The option to extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) notice delivered by Tenant to Landlord as provided in Section 2.2.3, below, provided that, as of the date of delivery of such Noticenotice, (i) Tenant is not then in default Default under this Lease, and (ii) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term. Upon the proper exercise of such the option to extend, and provided that, at Landlord’s electionoption, as of the end of the initial Lease Term, (A) Tenant is not in default Default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term, then the Lease Term, as it applies to the entire Premises, Term shall be extended for a period of seven five (75) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant and any Permitted Transferee Assignee and may only be exercised by the Original Tenant or its a Permitted Transferee Assignee (and not any other assignee, assignee or sublessee or other transferee of the Original Tenant’s interest in this Lease) if the Original Tenant and/or its or a Permitted Transferee Assignee is in occupancy of Assignee, as applicable, occupies at least seventysixty-five six and 67/100ths percent (7566.67%) of the then-existing rentable square footage of the Premises. In the event that Tenant fails to timely and appropriately exercise its option to extend in accordance with the terms of this Section 2.2, then the option to extend granted to Tenant pursuant to the terms of this Section 2.2 shall automatically terminate and shall be of no further force or effect.

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, one (1) option to extend ------------ the Lease Term for all, but not less than all of, the entire Premises leased by Tenant, for a period of seven five (75) years (the “Option Term”"OPTION TERM"). Such , which option shall be exercisable only by “Notice” written Exercise Notice (as that term is defined in Section 29.18 of this Leasebelow) delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Exercise Notice, (i) Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary default under this the Lease (beyond the any applicable notice and cure periods) during the prior two (2) years of the Lease Termperiod. Upon the proper exercise of such option to extend, and provided that, at Landlord’s election, as of the end of the initial Lease Term, (A) Term Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this the Lease (beyond the any applicable notice and cure periods) during the prior two (2) years of period, the Lease Term, then the Lease Term, as it applies to the entire Premises, Term shall be extended for a period of seven (7) yearsthe Option Term. The rights contained in this Section 2.2 Extension Rider shall be personal to the original Tenant executing the Lease and any assignee to which Tenant's entire interest in this Lease has been assigned pursuant to Article 14, and may only be exercised by the Original original Tenant or its Permitted Transferee Assignee (and not any other such assignee, as the case may be (but not by any sublessee or other transferee of the Original Tenant’s 's interest in this the Lease) if Original the original Tenant and/or its Permitted Transferee Assignee is in occupancy of or such assignee occupies at least seventy-five percent (75%) 50% of the then-existing PremisesPremises as of the date of the Exercise Notice.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant and Tenant”), its Permitted Transferee AssigneeTransferees, or any assignee of Tenant's entire interest in this Lease approved by Landlord in accordance with the terms of Article 14, below, one (1) option to extend the Lease Term for the entire Premises by a period of seven three (73) years (the “Option Term”). Such option to extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) written notice delivered by Tenant to Landlord as provided below, provided that, as not more than twelve (12) months nor less than nine (9) months prior to the expiration of the date of delivery of such Noticeinitial Lease Term, (i) stating that Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary default under this Lease (beyond thereby irrevocably exercising its option to lease the applicable notice and cure periods) Premises during the prior two (2) years of the Lease Option Term. Upon the proper exercise of such the option to extend, and provided that, at Landlord’s electionoption, as of the end date of the Lease Termdelivery of such notice, (A) Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years , and as of the end of the initial Lease TermTerm Tenant is not in default under this Lease, then the Lease Term, as it applies to the entire Premises, Term shall be extended for a period of seven three (73) years. The rights contained In the event that Tenant fails to timely and appropriately exercise its initial option to extend the Lease Term in accordance with the terms of this Section 2.2 2.2, then such option shall only automatically terminate and shall be exercised by the Original Tenant of no further force or its Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least seventy-five percent (75%) of the then-existing Premiseseffect.

Option Right. Landlord hereby grants the tenant originally named herein (the “Original Tenant Tenant”) and its “Permitted Transferee Assignee,” as that term is set forth in Section 14.8 of this Lease, one (1) option to extend the Lease Term for the entire Premises by a period of seven five (75) years (the “Option Term”). Such option shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such Notice, (i) Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary or material non-monetary default under this Lease (beyond the any applicable notice and cure periodsperiod and (ii) there has been no material adverse change in Tenant’s financial condition during the prior two twenty-four (2) years of the Lease Term24)-month period, as determined by Landlord in its commercially reasonable discretion. Upon the proper exercise of such option to extend, and provided that, at Landlord’s election, as of the end of the Lease Term, (A) Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term, then the Lease Term, as it applies to the entire Premises, shall be extended for a period of seven five (75) years. The rights contained in this Section 2.2 2.3 shall only be exercised by the Original Tenant or its Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least seventy-five percent (75%) of the entire then-existing Premises.

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, one (1) option to extend the Lease Term for the entire Premises by a period of seven (7) years named in this Second Amendment (the “Option Term”"Original Tenant"). Such option shall be exercisable only by “Notice” , any assignee of Tenant permitted under Article 14 of the Original Lease, and any "Affiliate" (as that term is defined in Section 29.18 14.8 of this the Original Lease) to which the Lease is assigned (collectively, the "Right Holders"), one (1) option (the "Option") to further extend the Lease Term for a period of two (2) years, commencing on July 1, 2014 and ending on June 30, 2016 (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 Noticenotice, (i) Tenant is not then in default under this the Lease, and (ii) Tenant has not been in monetary default under this Lease (as amended, beyond the any applicable notice and cure periods) during the prior two (2) years of the Lease Termperiods set forth therein. Upon the proper exercise of such option to extendOption, and provided that, at Landlord’s election, as of the end of the Lease Extended Term, (A) Tenant is not in default under this the Lease, and (B) Tenant has not been in monetary default under this Lease (as amended, beyond the any applicable notice and cure periods) during periods set forth therein, the prior two (2) years of the Lease Term, then the Lease Extended Term, as it applies to the entire Premises, shall be extended for a period of seven (7) yearsthe Option Term. The rights contained in this Section 2.2 6 shall be personal to the Right Holders and may only be exercised by the Original Tenant or its Permitted Transferee Assignee such Right Holders (and not any other assignee, sublessee or other transferee of the Original Tenant’s 's interest in this the Lease, as amended hereby, not included in the definition of Right Holders) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of such entities occupy at least seventy-five percent one (75%1) full floor of the then-existing Premises.

Option Right. Landlord hereby grants to the Original Tenant Tenant, any Affiliate of Tenant, and its any Permitted Transferee Assignee, one two (12) option options to extend the Lease Term for the entire Premises by a period of seven five (75) years each (the each an “Option Term” and each such option, an “Option to Extend”). Such option The Options to Extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) notice delivered by Tenant Original Tenant, an Affiliate, or a Permitted Transferee Assignee, as applicable, to Landlord as provided in Section 2.2.3 below, ; provided that, as of the date of delivery of such Noticenotice, (i) Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary default under this Lease (beyond the applicable received notice and cure periods) during the prior two (2) years of the Lease Term. Upon the proper exercise of such option to extend, and provided that, at Landlord’s election, as of the end of the Lease Term, (A) that Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term, then the Lease Term, as it applies to the entire Premises, shall be extended for a period of seven (7) yearsDefault. The rights contained in this Section 2.2 shall be personal to the Original Tenant, any Affiliate, and any Permitted Transferee Assignee and may only be exercised by the Original Tenant Tenant, an Affiliate, or its a Permitted Transferee Assignee (and not any other assignee, assignee or sublessee or other transferee Transferee of the Original Tenant’s interest in this Lease) if provided that the Original Tenant and/or its Tenant, the Affiliate, or such Permitted Transferee Assignee is in occupancy of at least seventy-five has not subleased more than fifty percent (7550%) of the then-existing Premisesrentable square footage of the Premises pursuant to a sublease or subleases then in effect. In the event that Tenant (or any Affiliate or Permitted Transferee Assignee) fails to timely and appropriately exercise its Option to Extend in accordance with the terms of this Section 2.2, then such Option to Extend shall automatically terminate and shall be of no further force or effect.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant Tenant”), and its any assignee of Original Tenant's entire interest in the Lease that has been approved in accordance with the terms of Article 14, below (a “Permitted Transferee Assignee”), one (1) option to extend the Lease Term for the entire Premises by a period of seven ten (710) years (the “Option Term”). Such option to extend shall be exercisable only by “Notice” (as that term is defined in Section 29.18 of this Lease) written notice delivered by Tenant to Landlord not more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term (or initial Option Term, as provided belowthe case may be), stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the applicable Option Term. Upon the proper exercise of the option to extend, and provided that, as of the date of delivery of such Noticenotice, (i) Tenant is not then in default under this Lease, and (ii) Tenant has not been in monetary default under this Lease (beyond the applicable notice and cure periods) during the prior two (2) years of the Lease Term. Upon the proper exercise of such option to extend, and provided that, at Landlord’s election, as of the end of the Lease Term, (A) Tenant is not in default under this Lease, and (B) Tenant has not been in monetary default under this Lease (beyond after the expiration of any applicable notice and cure periods) during the prior two (2) years period, and as of the end of the initial Lease Term, then Tenant is not in default under this Lease, after the expiration of any applicable notice and cure period, the Lease Term, as it applies to the entire Premises, Term shall be extended for a period of seven ten (710) years. The rights contained in this Section 2.2 shall only be exercised by the personal to Original Tenant or its and any Permitted Transferee 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 interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least seventy). 4864-five percent (75%) of the then7268-existing Premises.1728.5183307.00004/2-27-24/ejs/ejs -6- [Nexus on Grand][Myriad Genetics, Inc.]