Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Tenant named in this Lease (the “Original Tenant”), one (1) option to extend the Lease Term for a period of ten (10) years (the “Option Term”), which option may be irrevocably exercised only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, Tenant is not in Default under this Lease and Tenant has not previously been in default under this Lease more than once. 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, the Lease Term, as it applies to the Premises, shall be extended for a period of ten (10) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease) if Original Tenant or a Permitted Transferee Assignee occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease the Summary and any transferee permitted pursuant to Section 14.7, below (collectively, the “Original Tenant”"ORIGINAL TENANT"), one two (12) option options to extend the Lease Term for a period of ten five (105) years each (the “Option Term”each, an "OPTION TERM"), each of which option may options shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Termas provided below, provided that, as of the date of delivery of any such notice, Tenant is not in Default default under this Lease and Tenant has not previously been in default under this Lease more than onceone (1) times during the last twenty-four (24) months of the Lease Term. 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 or initial Option Term, Tenant is not in Default default under this LeaseLease and Tenant has not previously been in default under this Lease more than one (1) time during the last twenty-four (24) months of the Lease Term, the Lease Term, as it applies to the Premises, shall be extended for a period of ten five (105) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee and may only be exercised by the Original Tenant (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, transferee of Tenant’s 's interest in this Lease) if Original Tenant or a Permitted Transferee Assignee occupies the entire PremisesPremises (except for the occupancy of any permitted Customers [as defined in Section 14.6 below]).

Option Right. Landlord hereby grants the Tenant named in this Lease (the “Original Tenant”), one (1) option to extend the Lease Term for a period of ten five (105) years (the “Option Term”), which option may shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Termas provided below, provided that, as of the date of delivery of such notice, Tenant is not in Default monetary default under this Lease and Tenant has not previously been in monetary default under this Lease more than once. Upon the proper exercise of such option to extend, extend (and provided that, at Landlord’s option, as of the end of the initial Lease Term, Tenant is not in Default monetary default under this LeaseLease and Tenant has not previously been in monetary default under this Lease more than once), the Lease Term, as it applies to the Premises, shall be extended for a period of ten five (105) years. The rights right contained in this Section 2.2 shall be personal to the original Tenant executing this Lease (“Original Tenant”) and any Affiliate (as defined in Section 14.8 hereof) of the Original Tenant’s entire interest in this Lease and may only be exercised by the Original Tenant or a Permitted Transferee Assignee such Affiliate (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 transferee of this Lease, of the Original Tenant’s interest in this Lease) if the Original Tenant or a Permitted Transferee Assignee such Affiliate occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant”), any “Permitted Transferee” as such term is defined in Section 14.8 below and any assignee of Original Tenant’s entire interest in the Lease that has been approved in accordance with the terms of Article 14, below (each, a “Permitted Assignee”), one (1) option to extend the Lease Term for a period of ten eight (10) 8) years (the “Option Term”), which . Such option may to extend shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, stating that Tenant is not in Default under this Lease and Tenant has not previously been in default under this Lease more than oncethereby exercising its option to lease the Premises during the Option Term. Upon the proper exercise of such 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, after the expiration of any applicable notice and cure periods, and has not previously been in default under this Lease after the expiration of any applicable notice and cure periods, more than once in the twelve (12) month period prior to the date of Tenant’s exercise, and as of the end of the initial Lease Term, Tenant is not in Default default under this Lease, after the expiration of any applicable notice and cure periods, the Lease Term, as it applies to the Premises, Term shall be extended for a period of ten eight (10) 8) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a and any Permitted Transferee Assignee (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease14.1, below, of Tenant’s interest in this Lease) if Original ). In the event that Tenant fails to timely and appropriately exercise its option to extend the Lease Term, in accordance with the terms of this Section 2.2, then such option shall automatically terminate and shall be of no further force or a Permitted Transferee Assignee occupies the entire Premiseseffect.

Option Right. So long as Tenant has not subleased more than one (1) floor of the Premises to another tenant, Landlord hereby grants the originally named Tenant named in herein (or any Affiliate to whom this Lease has been assigned pursuant to Section 14.7 above (the “Original Tenant”a "Permitted Assignee")), one (1) option to extend the Lease Term for a period of ten five (105) years (the “"Option Term”"), which option may shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Termas provided below, provided that, as of the date of delivery of such notice, Tenant is not in Default default under this Lease and Tenant has not previously been in default under this Lease more than onceonce in the prior twenty-four (24) months. 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 default under this LeaseLease and Tenant has not previously been in default under this Lease more than once in the prior twenty-four (24) months, the Lease Term, as it applies to the Premises, shall be extended for a period of ten five (105) years. The rights contained in this Section 2.2 29 shall be personal to the Original Tenant or a Permitted Transferee Assignee and may only be exercised by Tenant or a Permitted Assignee (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, transferee of Tenant’s 's interest in this Lease) if Original Tenant or a such Permitted Transferee Assignee occupies at least four (4) floors of the entire Premises.

Option Right. Landlord hereby grants the Tenant named in the preamble to this Lease (the “"Original Tenant”), ") one (1) option to extend the Lease Term for a period of ten five (105) years (the “"Option Term”"), which option may shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier less than fifteen nine (15) months and not later than twelve (129) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, Tenant is not in Default default under this Lease beyond the applicable cure period and Tenant has not previously been in material default under this Lease more than once. Upon the proper exercise of such the option to extend, and provided that, at Landlord’s option, as of the end of the initial Lease Term, Tenant is not in Default default under this LeaseLease beyond the applicable cure period and Tenant has not previously been in material default under this Lease more than once, the Lease Term, as it applies to the Premises, shall be extended for a period of ten five (105) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee except for any assignee permitted under Section 14.7 and may only be exercised by the Original Tenant (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 transferee of this Lease, of the Original Tenant’s 's interest in this LeaseLease except for any assignee permitted under Section 14.7) if the Original Tenant or a Permitted Transferee Assignee occupies at least 60% of the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the “"Original 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 ten three (103) years (the “"Option Term”"), which option may shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Termas provided below, provided that, as of the date of delivery of such notice, Tenant is not in Default default under this Lease and Tenant has not previously been in default under this Lease more than once. 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 default under this LeaseLease 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 ten three (103) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee and may only be exercised by the Original Tenant or a Permitted Assignee (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 transferee of this Lease, of the Original Tenant’s 's interest in this Lease) if the Original Tenant or a Permitted Transferee Assignee occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant”), and 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 Assignee”), one (1) option to extend the Lease Term for a period of ten five (105) years (the “Option Term”), which . Such option may to extend shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, stating that Tenant is not in Default under this Lease and Tenant has not previously been in default under this Lease more than oncethereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of such 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 and 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 default under this Lease, the Lease Term, as it applies to the Premises, Term shall be extended for a period of ten five (105) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a and any Permitted Transferee Assignee (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease14.1, below, of Tenant’s interest in this Lease) if Original Tenant or a Permitted Transferee Assignee occupies the entire Premises).

Option Right. Landlord hereby grants the Tenant originally named in this Lease (the “Original Tenant”), and any assignee of Original Tenant's entire interest in the Lease that has been approved in accordance with the terms of Article 14, below, including any assignee pursuant to an assignment referred to in Section 14.8 below (a “Permitted Assignee”), one (1) option to extend the Lease Term for a period of ten eight (10) 8) years (the “Option Term”), which . Such option may to extend shall be irrevocably exercised exercisable only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not earlier than fifteen (15) months and not later more than twelve (12) months nor less than nine (9) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, stating that Tenant is not in Default under this Lease and Tenant has not previously been in default under this Lease more than oncethereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of such 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 the applicable notice and cure period) and has not previously been in economic or material non-economic default under this Lease (beyond the applicable notice and cure period) more than twice, and as of the end of the initial Lease Term, Tenant is not in Default default (beyond the applicable notice and cure period) under this Lease, the Lease TermTerm shall be extended, as it applies subject to the Premises, shall be extended for a period of ten (10) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee (and not by any assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1 of this Lease, of Tenant’s interest in this Lease) if Original Tenant or a Permitted Transferee Assignee occupies the entire Premises.provisions of

Option Right. Landlord hereby grants the Tenant named in this Lease (the “"Original Tenant”"), one (1) option to extend the Lease Term for a period of ten (10) years (the “"Option Term”"), which option may be irrevocably exercised only by Tenant by written notice (the “"Option Exercise Notice”") delivered by Tenant to Landlord not earlier than fifteen (15) months and not later than twelve (12) months prior to the expiration of the initial Lease Term, provided that, as of the date of delivery of such notice, Tenant is not in Default under this Lease and Tenant has not previously been in default under this Lease more than once. Upon the proper exercise of such option to extend, 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, the Lease Term, as it applies to the Premises, shall be extended for a period of ten (10) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant or a Permitted Transferee Assignee (and not by any assignee, sublessee or other “"Transferee,” " as that term is defined in Section 14.1 of this Lease, of Tenant’s 's interest in this Lease) if Original Tenant or a Permitted Transferee Assignee occupies the entire Premises.