Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants Original Tenant one (1) option to extend the Lease Term for a period of three (3) 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, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times, the Lease Term, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 2.3 shall be personal to the Original Tenant, and may only be exercised by the Original Tenant if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant Tenant"), one (1) option to extend ("Extension Option") the Lease Term for a period of three five (35) 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, beyond any applicable notice and cure period set forth in this Leaseperiods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Leaseperiods, more than two (2) timesonce. Upon the proper exercise of 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 default under this Lease, beyond any applicable notice and cure period set forth in this Leaseperiods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Leaseperiods, more than two (2) timesonce, the Lease Term, as it applies to the Premises, shall be extended for a period of three five (35) years. The rights contained in this Section 2.3 2.2 shall be personal to the Original Tenant, Tenant and may only be exercised by the Original Tenant (and not any assignee, sublessee or other transferee of Tenant's interest in this Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant Tenant") or an assignee permitted or approved pursuant to the terms of Section 14.6 of this Lease (a "Permitted Assignee"), one (1) option to extend the Lease Term for a period of three (3) 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, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease more than two (2) timesonce. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease more than two (2) timesonce, the Lease Term, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 2.3 2.2 shall be personal to the Original Tenant, Tenant or a Permitted Assignee and may only be exercised by the Original Tenant or a Permitted Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant's interest in this Lease) if the Original Tenant or a Permitted Assignee occupies the entire Premises.

Option Right. Landlord hereby grants Original Tenant one two (12) option to extend the Lease Term for all, but not less than all, of the Premises then leased by Tenant (the "Renewal Premises") for a period of three (3) 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, beyond Lease (after written notice and expiration of any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) timesperiod). Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, beyond Lease (after written notice and expiration of any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) timesperiod), the Lease Term, as it applies to the Premises, Term shall be extended for a period of three (3) years. The rights contained in this Section 2.3 2.2 shall be personal to the Original Tenant, Tenant (any reference to Original Tenant shall include any Permitted Transferee as defined in Section 14.8) and may only be exercised by the Original Tenant (and not any assignee, sublessee or other transferee of the Original Tenant's interest in this Lease) if the Original Tenant occupies the entire PremisesRenewal Premises and is then operating within the Renewal Premises for the Permitted Use. If Tenant does not timely exercise its option to extend, as set forth in this Section 2.2, then the option to extend, as set forth in this Section 2.2, shall terminate, and Tenant shall have no further options to extend the Lease Term.

Option Right. Landlord hereby grants Original to Tenant one (1) option (the "Extension Option") to extend the Lease Term for a period of three five (35) 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, Lease beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) timesperiods. Upon the proper and timely exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, Lease beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) timesperiods, the Lease Term, Term as it applies to the Premises, shall be extended for a period the Option Term upon all of three the terms and conditions set forth in the Lease, except that the Base Rent shall be the Option Rent (3as defined below) yearsand Tenant shall have no further options to extend the Lease Term. The rights contained in this Section 2.3 3.3 shall be personal to the Original TenantTenant (and Permitted Transferees (as defined below), and may only be exercised by the Original Tenant if and its Permitted Transferees and not by any other assignee or any other sublessee or other transferee of Tenant's interest in this Lease or the Original Tenant occupies the entire Premises, or any part thereof.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant Tenant”), its Permitted Transferees, 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 a period of three (3) years (the "“Option Term"”), which . Such option to extend shall be exercisable only by written notice delivered by Tenant to Landlord as provided belownot more than twelve (12) months nor less than nine (9) 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 default under this Lease, beyond any applicable notice and cure period set forth in this Leaseperiods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Term Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times, the Lease Term, as it applies to the Premises, Term shall be extended for a period of three (3) 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 2.3 2.2, then such option shall automatically terminate and shall be personal to the Original Tenant, and may only be exercised by the Original Tenant if the Original Tenant occupies the entire Premisesof no further force or effect.

Option Right. Landlord hereby grants the ‘Tenant named in this Lease (the “Original Tenant Tenant”), one (1) option to extend (“Extension Option”) the Lease Term for For a period of three (3) 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, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times. Upon the proper exercise of such option to extendExtension Option, and provided that, at Landlord's ’s option, as of the end of the initial Lease Term, . Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times, the Lease Term, as it applies to the Premises, shall be extended for For a period of three (3) years. The rights contained in this Section 2.3 2.2 shall be personal to the Original Tenant, Tenant and may only be exercised by the Original Tenant or any “Permitted Assignee.” as that term is defined in Section 14.8 below (but not any other assignee, sublessee or other transferee of Tenant’s interest in this Lease) if the Original Tenant and/or such Permitted Assignee occupies the entire Premises.

Option Right. Landlord hereby grants Original to the Tenant originally named in the Summary and any "Affiliates" (as that term is defined in Section 14.8, below) (the Tenant and Affiliates shall be collectively referred to herein as the "ORIGINAL TENANT") one (1) option to extend the Lease Term for a period of three (3) years (the "Option TermOPTION 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, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, more than two (2) times, the Lease Term, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 2.3 2.2 shall be personal to the Original Tenant, 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) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in the Summary (the "Original Tenant Tenant") one (1) option to extend the Lease Term for a period of three (3) 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, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease more than two (2) timesonce. Upon the proper exercise of such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease more than two (2) timesonce, the Lease Term, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 2.3 SECTION 2.2 shall be personal to the Original Tenant, Tenant and may only be exercised by the Original Tenant (and not any assignee, sublessee or other transferee of the Original Tenants interest in this Lease) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Original Tenant one two (12) option options to extend the Lease Term for a period of three (3) years each (the each, an "Option OPTION Term"), which option 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 default under this Lease, Lease beyond any the applicable notice and cure period set forth provided in this Lease, Lease and Tenant has not previously been in default under this Lease, Lease beyond any the applicable notice and cure period set forth provided in this Lease, Lease more than two (2) timestwice. Upon the proper exercise of any such option to extend, and provided that, at Landlord's option, as of the end of the initial Lease Term as initial Option Term, as the case may be, Tenant is not in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure period set forth in this Lease, Lease more than two (2) timesonce, the Lease Term, as it applies to the Premises, shall be extended for a period of three (3) years. The rights contained in this Section 2.3 shall be personal to the Original Tenant, Tenant and may only be exercised by the Original Tenant (and not any assignee, sublessee or other transferee of Tenant's interest in this Lease) if the Original Tenant occupies the entire Premises.