Option Space Clause Samples

Option Space. During the term of this Lease, the Tenant shall have the option to add to the Premises that portion of the Building in Exhibit D marked as “Option Space” upon not less than sixty (60) days written notice to the Landlord. It is agreed that the Option Space consists of approximately 1,030 usable square feet of floor area. Upon such exercise, the Option Space shall be deemed to be a part of the Premises and the Basic Rent shall be increased at a rate of usable square footage of the Option Space multiplied by $34.00 per annum. In addition, Tenant shall have full access to Room 3238, the common area immediately across the corridor from the open lab space. Tenant shall not have the right to use the Option Space absent exercise of the option by written notice to the Landlord. In addition, in the event Blue Sky Biotech vacates the office space set forth in blue and marked “Blue Sky” on Exhibit E, Tenant shall have a first right of refusal to occupy such space. It is agreed that the Blue Sky space is approximately 500 usable square feet. Initial General Liability Insurance: $1,000,000 per occurrence/$2,000,000 aggregate (combined single limit) for property damage, bodily injury or death. Permitted Uses: General office uses and scientific laboratory space for research and development in the life sciences field of study which shall be conducted in compliance with all applicable municipal, state and federal laws, rules and regulations and in all events the Permitted Uses shall be conducted in a manner so as to not be unreasonably disruptive in any manner to any other tenant or occupant in the Building. Tenant will procure and maintain in full force and effect all licenses and permits which may be required for any use made of the Premises.

Option Space. Lessee shall have the option to add to the Demised Premises an additional area of approximately 3,500 — 6,366 square feet (as determined by Lessor and measured under BOMA) of rentable area on the seventh (7th) floor of the Building that is contiguous to the Demised Premises (such space being identified as the “Addendum No. 5 Option Space”, and such option being hereinafter referred to as the “Addendum No. 5 Option Space Option”). The configuration of the Addendum No. 5 Option Space shall satisfy all applicable laws, have reasonable access to common areas and common facilities located on the 7th floor of the Building and be usable for general office purposes. The final configuration of the Addendum No. 5 Option Space shall be designated by Lessor. Lessor shall deliver the Addendum No. 5 Option Space separately demised from the remainder of the seventh (7th) floor with a demising wall constructed, but Lessor shall have no obligation to perform any further work with respect to the Addendum No. 5 Option Space or the delivery thereof. Such demising wall shall be constructed in a manner in compliance with applicable laws and consistent with Building standard finishes. Without limiting the generality of the effect of the foregoing, the corridor side of any such demising wall shall be consistent with Lessor’s Work. Subject to the foregoing, Lessee may exercise the Addendum No. 5 Option Space Expansion Option by giving written notice to Lessor no later than October 31, 2018 (“Lessee’s Addendum No. 5 Option Space Option Notice”). If Lessee delivers Lessee’s Addendum No. 5 Option Space Option Notice, Lessor shall deliver the Addendum No. 5 Option Space to Lessee not earlier than January 1, 2020, and not later than April 30, 2022. If Lessee delivers Lessee’s Addendum No. 5 Option Space Option Notice, then, on or before November 10, 2018, Lessor shall notify Lessee in writing (“Lessor’s Addendum No. 5 Option Space Notice”) of the configuration and rentable square footage of the Addendum No. 5 Option Space and the date Lessor will deliver the Addendum No. 5 Option Space to Lessee (“Addendum No. 5 Option Space Delivery Date”), all in accordance with the terms and conditions hereof. Lessee may not lease less than all of the Addendum No. 5 Option Space designated by Lessor.

Option Space. 57.1 Provided that there then exists no Event of Default by Tenant under the Lease nor any event that with the giving of notice and/or the passage of time would constitute a default, then Tenant shall have the right of first offer (“Right of First Offer”) to lease the premises in the Building that is shown on Schedule 2 as the “Option Space” (the “Option Space”), subject to the terms of this Paragraph 57. Tenant’s rights pursuant to this Paragraph 57 are subject to the rights of any other party to lease the Option Space as of the date of this Lease. 57.2 If the Option Space becomes available for lease to any third party (“Prospective Tenant”) other than the current tenant of the Option Space as of the date of this Lease, or an affiliate, assignee, subtenant or successor-in-interest to the current tenant of the Option Space as of the date of this Lease, at any time during the first five (5) Lease Years of the initial Term of this Lease, then Landlord shall provide Tenant with written notice of the availability of the Option Space (the “Landlord’s Notice”). Tenant shall have ten (10) days following Tenant's receipt of Landlord's Notice to respond in writing to Landlord to commit to lease the Option Space upon the terms and conditions set forth in this Paragraph 57.2. In the event Tenant timely responds in writing to Landlord and elects to lease the Option Space pursuant to the terms and conditions set forth in this Paragraph 57.2, an amendment to the Lease shall be prepared and executed by the parties incorporating the terms set forth in in this Paragraph 57.2 with respect to the Option Space. In the event Tenant fails to respond timely or elects not to lease the Option Space as herein provided, Landlord shall have the right to lease the Option Space to any Prospective Tenant on any terms and conditions at any time during the remainder of the Term of this Lease. The terms and conditions of Tenant’s lease of the Option Space if exercised during the first five (5) Lease Years of the initial Term of this Lease shall be as follows: (a) Expiration Date – the expiration date of Tenant’s lease of the Option Space shall be the Expiration Date of this Lease as set forth in Paragraph 1.7.

Option Space. The Landlord hereby grants to the Tenant an option, exercisable as hereinafter provided, to lease all of the rentable area located on the 43rd floor of the Building (known as Block 1265, Lot 1047) substantially as shown hatched on the diagram attached hereto as Exhibit E (“Option Space”) for a term commencing on the Option Space Term Commencement Date and ending on the expiration date of the term of this Lease as it may be extended pursuant to Article 32 (or on such earlier date upon which said term may expire or be terminated pursuant to / this Lease or pursuant to law). The parties agree that, for all purposes of this Lease, the Option Space shall be deemed to contain 33,070 rentable square feet. The Tenant may exercise its option with respect to the Option Space only by Notifying the Landlord of its election on or prior to the Option Exercise Date (as to which date time is of the essence). The “Option Exercise Date” shall mean the date occurring 15 months prior to the Anticipated Vacancy Date. The “Anticipated Vacancy Date” shall be the date the Landlord in good faith anticipates that the Option Space will be vacant, as set forth in a notice (the “Anticipated Vacancy Notice”) delivered to Tenant reasonably promptly following the Landlord’s leasing of the Option Space to a third party (or parties), provided that the Anticipated Vacancy Date shall in no event occur prior to the 10th anniversary of the term commencement date nor subsequent to the 12th anniversary of the term commencement date. If the Landlord does not give an Anticipated Vacancy Notice by the date occurring 19 months prior to the 10th anniversary of the term commencement date, the Anticipated Vacancy Date shall be deemed to be such 10th anniversary and the Option Exercise Date shall be the date occurring 15 months prior thereto. If the Landlord gives an Anticipated Vacancy Notice, then such Anticipated Vacancy Notice shall set forth the Option Exercise Date. Notwithstanding anything herein contained to the contrary, the Landlord shall have the right, subsequent to the giving of an Anticipated Vacancy Notice, to give a subsequent Anticipated Vacancy Notice and to revise the Anticipated Vacancy Date (it being stipulated, however, that the Landlord may not accelerate or postpone the prior Anticipated Vacancy Date by more than one year and that the Anticipated Vacancy Date shall in no event occur prior to the 10th anniversary of the term commencement date or later than the 12th anniversary of ...

Option Space. [This paragraph intentionally omitted.]

Option Space. For purposes of this Amendment, "Option Space" shall mean as of any date, that certain space located on the 1st floor of the Building and containing approximately 3,538 square feet of rentable area (Suite 175), as shown on EXHIBIT A attached hereto, less such portions of said space, if any, which are leased by Tenant as of such date.

Option Space. The Rent payable under this Lease shall be increased by the amount of Rent attributable to the Option Space that is leased by Tenant. The parties shall immediately execute an amendment to this Lease stating the addition of the Option Space or part of it to the Premises.

Option Space. Section 44.1 Provided Tenant shall have given timely notice as hereinafter provided, Tenant shall have the option (the “Space Option”) to lease either 50,000 or 100,000 rentable square feet in the Building, as designated by Landlord (the “Option Space”) upon the terms and subject to the conditions of this Lease (including without limitation the same Term, but exclusive of any rent abatements, tenant allowances, or work to be performed by Landlord to prepare the Option Space for occupancy) and such additional terms and conditions as are hereinafter set forth. Notwithstanding the foregoing, if Tenant exercises the Space Options as provided herein and selects an Option Space of (x) 50,000 rentable square feet, Landlord shall be entitled, based on space availability in the Building as determined by Landlord in its sole discretion, to offer to Tenant (and Tenant shall be obligated to accept) Option Space consisting of between 50,000 and 60,000 rentable square feet, provided that such Option Space consists of full and contiguous floors only, and (y) 100,000 rentable square feet, Landlord shall be entitled, based on space availability in the Building as determined by Landlord in its sole

Option Space. Section 42.1. Provided that the conditions set forth in Section 42.2 hereof are satisfied, Tenant shall have the option (the "Option") to lease (i) the entire tenth floor (10th) of the Building as shown by cross-hatching on Exhibit "D-1" attached hereto and made a part hereof (the "First Option Space") on January 1, 2001 (such date or such earlier date upon which the term shall commence with respect to such Space pursuant to the provisions hereof, being referred to as the "First Option Space Commencement Date"); and/or (ii) the entire eighteenth (18th) floor of the Building as shown by cross-hatching on Exhibit "D-2" attached hereto and made a part hereof (the "Second Option Space") on March 1, 1998 (such date or such earlier date upon which the term shall commence with respect to such Space pursuant to the provisions hereof, being referred to as the "Second Option Space Commencement Date"); and/or (iii) the entire nineteenth (19th) floor of the building as shown by cross-hatching on Exhibit "D-3" attached hereto and made apart hereof (the "Third Option Space") on March 1, 1998 (such date or such earlier date upon which the term shall commence with respect to such Space pursuant to the provisions hereof, being referred to as the "Third Option Space Commencement Date"); (each of the option spaces referred to in subparagraphs (i) through (iii) above are individually and collectively referred to as the "Option Space") for a term commencing on the First Option Space Commencement Date, the Second Option Space Commencement Date and/or the Third Option Space Commencement Date, as the case may be (such date with respect to each of the First Option Space, the Second