Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, two (2) options to extend the Lease Term for the entire Premises, each by a period of five (5) years (each, an “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, Tenant is not then in monetary or material non-monetary default under this Lease beyond any applicable notice and cure period. Upon the proper exercise of such option to extend, the Lease Term (including the Lease Expiration Date), as it applies to the entire Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall only be exercised by the Original Tenant or any 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 sixty-seven percent (67%) of the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below).

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant and its Permitted Transferee AssigneeTenant"), two one (21) options option to extend ("Extension Option") the Lease Term for the entire Premises, each by a period of five (5) years (each, an “the "Option Term”"). Such , which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default under this Lease Lease, beyond any applicable notice and cure periodperiods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure periods, more than once. 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 periods, and Tenant has not previously been in default under this Lease, beyond any applicable notice and cure periods, more than once, the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire 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 and may only be exercised by the Original Tenant or any Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s 's interest in this Lease) if the Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least sixty-seven percent (67%) of occupies the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)entire Premises.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the "Original Tenant Tenant") and its "Permitted Transferee AssigneeTransferee," as that term is set forth in Section 14.8 of this Lease, two (2) options to extend the Lease Term for the entire Premises, each by a period of five (5) years (each, an “"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, Tenant is not then in monetary or material non-monetary default Default under this Lease (beyond any applicable notice and cure periodperiods). Upon the proper exercise of such option to extend, and provided that, as of the end of the then applicable Lease term, Tenant is not in Default under this Lease (beyond any applicable notice and cure periods), the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall only be exercised by the Original Tenant or any its Permitted Transferee Assignee (and not any other assignee, sublessee sublesee or other transferee of the Original Tenant’s 's interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least sixtyno less than forty-seven percent five thousand (67%45,000) Rentable Square Feet of the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)Building.

Option Right. Landlord hereby grants the Original Tenant, any assignee of Tenant permitted under Article 14 of this Lease, and its Permitted Transferee Assigneeany "Affiliate" (as that term is defined in Section 14.8 below) (collectively, two the "RIGHT HOLDERS"), one (21) options option to extend the Lease Term for the entire Premises, each by a period of five (5) years (eachthe "OPTION TERM" ), an “Option Term”). Such which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default Default under this Lease beyond any applicable notice and cure periodperiods set forth herein. 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 or the first Option Term, as the case may be, Tenant is not in Default under this Lease beyond any applicable notice and cure periods set forth herein, the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to the Right Holders, and may only be exercised by the Original Tenant or any Permitted Transferee Assignee such Right Holders (and not any other assignee, sublessee or other transferee of the Original Tenant’s 's interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least sixty-seven such entities collectively occupy the not less than fifty percent (6750%) of the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)Premises.

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, two one (21) options option to extend the Lease Term for the entire Premises, each by a period of five three (53) years (each, an “the "Option Term”"). Such , which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default under this Lease Lease, beyond any applicable notice and cure periodperiod 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 (including the Lease Expiration Date)Term, as it applies to the entire Premises, shall be extended for a period of five three (53) years. The rights contained in this Section 2.2 2.3 shall be personal to the Original Tenant, and may only be exercised by the Original Tenant or any Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of if the Original Tenant’s interest in this Lease) if Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least sixty-seven percent (67%) of occupies the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant and its Permitted Transferee AssigneeTenant"), two one (21) options option to extend the Lease Term for the entire Premises, each by a period of five three (53) years (each, an “the "Option Term”"). Such , which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default under this Lease beyond Lease, after expiration of any applicable notice and cure periodperiods, and Tenant has not previously been in default under this Lease more than once, after expiration of any applicable notice and cure periods,. Upon the proper exercise of each 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, after expiration of any applicable notice and cure periods, and Tenant has not previously been in default under this Lease more than once, after expiration of any applicable notice and cure periods, the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire Premises, shall be extended for a period of five three (53) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant and may only be exercised by the Original Tenant or any Permitted Transferee Assignee (and not any other assignee, sublessee or other transferee of the Original Tenant’s 's interest in this Lease) if the Original Tenant and/or its Permitted Transferee Assignee is in occupancy of at least sixty-seven percent (67%) of occupies the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)entire Premises.

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, two one (21) options option to extend the initial Lease Term for the entire Premises, each by Premises for a period of five (5) years (each, an “the "Option Term”"). Such , which option shall be exercisable only by 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, Tenant is not then in a state of uncured monetary or material non-monetary other default following the expiration of the applicable cure periods under this the Lease and Tenant has not been in default beyond the expiration of any applicable notice and cure periodperiod more than twice in any one Lease Year. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, under the Lease, the initial Lease Term (including the Lease Expiration Date), as it applies to the entire Premises, shall be extended for a period of five (5) yearsthe Option Term. The rights contained in this Section 2.2 Article 30 shall be personal to the original Tenant executing the Lease and any Affiliate and may only be exercised by the Original original Tenant or any Permitted Transferee Assignee Affiliate, as the case may be, (and not any other assignee, 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 at least sixty-seven percent (67%) or Affiliate, as the case may be, occupies the entire Premises as of the rentable square footage date of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)Exercise Notice.

Option Right. Landlord hereby grants the Tenant named in this Lease (the “Original Tenant and its Tenant”) or any assignee permitted pursuant to the terms of Section 14.8 of this Lease (a “Permitted Transferee Assignee, two ”) one (21) options option to extend the Lease Term for the entire Premises, each by a period of five (5) years (each, an the “Option Term”). Such , which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default under this Lease beyond after the expiration of any applicable notice and cure period. 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 after the expiration of any applicable notice and cure period, the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire 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 any a Permitted Transferee Assignee 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 and/or its or a Permitted Transferee Assignee is in occupancy of at least sixty-seven percent (67%) of Assignee, as the rentable square footage of case may be, occupies the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)entire Premises.

Option Right. Landlord hereby grants the Original Tenant and its Permitted Transferee Assignee, two one (21) options option to extend ------------ the initial Lease Term for the entire Premises, each by Premises for a period of five (5) years (each, an “the "Option Term”"). Such , which option shall be exercisable only by 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, Tenant is not then in a state of uncured monetary or material non-monetary other default following the expiration of the applicable cure periods under this the Lease and Tenant has not been in default beyond the expiration of any applicable notice and cure period. Upon the proper exercise of such option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in default, as described above, under the Lease, the initial Lease Term (including the Lease Expiration Date), as it applies to the entire Premises, shall be extended for a period of five (5) yearsthe Option Term. The rights contained in this Section 2.2 Article 31 shall be personal to the original Tenant executing the Lease and may only be exercised by the Original original Tenant or any Permitted Transferee Assignee (and not any other assignee, 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 at least sixty-seven percent (67%) occupies the entire Premises as of the rentable square footage date of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)Exercise Notice.

Option Right. Landlord hereby grants the originally named Tenant herein (“Original Tenant and its Permitted Transferee AssigneeTenant”), two or an “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, one (21) options option to extend the Lease Term for the entire Premises, each by a period of five (5) years (each, an the “Option Term”). Such , which option 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 of the date of delivery of such Noticenotice, Tenant is not then in monetary or material non-monetary default under this Lease beyond and Tenant has not previously been in default under this Lease after the expiration of any applicable notice and cure periodperiods. Upon the proper exercise of such option to extend, and provided that, 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 after the expiration of any applicable notice and cure periods, the Lease Term (including the Lease Expiration Date)Term, as it applies to the entire Premises, shall be extended for a period of five (5) years. The rights contained in this Section 2.2 shall be personal to Original Tenant and may only be exercised by the Original Tenant or any Permitted Transferee Assignee an Affiliate of Original Tenant (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 or an Affiliate of at least sixty-seven percent (67%) of Original Tenant occupies the rentable square footage of the initial Premises leased by Tenant under this Lease (subject to the last sentence of Section 14.4 below)entire Premises.