Lease Option Clause Examples

Lease Option. At any time, at its sole discretion, Romarco may, upon giving Buckskin written notice, exercise an option to acquire a 100% leasehold interest in the Property, according to the terms of the Lease Agreement attached hereto as Schedule “B” (the “Lease Option Exercise”).

Lease Option. If EUROIMMUN transfers the product to the client as part of a lease agreement, this Agreement remains in place for the entire product lease period.

Lease Option. The Owner hereby agrees that so long as the Manager is not in default in the performance of any duty or any obligation hereunder, the Manager shall have the option to lease the Facility at any time during the term of this Agreement (including any extension thereof) by providing the Owner with at least ninety (90) days prior written notice of such election. Within thirty (30) days after the receipt of the Manager's notice to lease, the parties shall enter into a lease agreement substantially in the form attached hereto as Exhibit A (the "Lease"), which Lease shall include, without limitation, a ten (10) year initial term (with three (3) 5-year renewal terms) and rental payments equal to the fair market value (which will be a negotiated percentage of total project costs) as determined immediately prior to the initial term of the Lease and immediately prior to any renewal terms.

Lease Option. Lessor grants Lessee a one-year option to this Lease at the same terms and conditions as this present Lease. Lessee must provide Lessor written notice to extend this Lease at least 180 days prior to the commencement of the option period, and Lessee must be current with all obligations under this Lease.

Lease Option. Agent shall have the option (the "Lease Option"), exercisable by written notice of such exercise to Owner Trust not later than the sixtieth (60th) day (or thirtieth (30th) day, if Agent informed Owner Trust of its intent to exercise the Purchase Option or Lease Option pursuant to Section 10.1(f)) prior to the scheduled date of Completion of the Facility, to cause Owner Trust to enter with Agent on or before the Completion Date a supplement to the Lease in recordable form substantially in the form attached hereto as Exhibit I (the "Lease Supplement") pursuant to which the term of the Lease will commence with respect to the Facility, subject to the following terms and conditions: (a) Agent shall deliver a customary legal opinion with respect thereto in form and substance reasonably acceptable to Owner Trust and Administrative Agent; (b) no Agent Default, Agent Event of Default or Owner Trust Termination Event shall have occurred and be continuing; (c) effective on the date of execution and delivery of the supplement to the Lease (the "Lease Commencement Date") and all related agreements and instruments, the term of the Lease shall commence and the Termination Date shall be extended to the Expiration Date as defined in the Lease, provided, however, that it shall be a condition to such extension and to the execution and delivery of the supplement to the Lease and the related agreements and instruments that Agent shall have confirmed in writing to Owner Trust and Administrative Agent that (i) no Agent Default, Agent Event of Default or Owner Trust Termination Event shall have occurred and be continuing and (ii) that its and Guarantor's representations and warranties in this Agreement and the other Operative Agreements are true and correct in all material respects as if made on and as of the Lease Commencement Date (except for those representations or warranties or parts thereof that, by their terms, expressly relate solely to a specific date, in which case such representations and warranties shall be true and correct in all material respects as of such specific date); and (d) if Agent exercises the Lease Option, all of Agent's obligations hereunder shall continue until the Completion Date and the Deposit Account Collateral, including the Collateral Agreement, shall remain in place until such time as all of the provisions of this Section 10.2 and Exhibit I hereto have been satisfied, at which time this Agreement shall terminate (except for those provisions which...

Lease Option. SITC hereby grants CURB OP (or its Affiliate designee) the option, exercisable by CURB OP until the earlier of (i) the three-year anniversary of this Agreement or (ii) the termination of this Agreement pursuant to a Sanctioned Termination Event by delivering Notice to SITC, to enter into the Lease Agreement attached as Exhibit A for the space at the Owned Shared Corporate Offices described in the Lease Agreement upon the terms and conditions set forth in such Lease Agreement. Within five Business Days after CURB OP delivers the Notice exercising the option to SITE, each party to the Lease Agreement shall execute and deliver the Lease Agreement to the other party thereto. If CURB OP fails to timely give Notice to SITC as provided for in the immediately preceding sentence, CURB OP shall be deemed to have waived CURB OP’s option to enter into the Lease Agreement. The parties hereto will cooperate in good faith to make any changes reasonably required to the form of Lease Agreement attached as Exhibit A such that the Lease Agreement is in execution form, including appropriately completing any exhibits, placeholders or blanks.

Lease Option. On November 2, 2000, Designs Inc. announced that it had entered into an option agreement with the landlord of its corporate headquarters at ▇▇ ▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇. The agreement provides the landlord with the option, if exercised within the next fifteen months, to terminate the lease for the company's corporate headquarters, which expires on January 31, 2006. If such option is exercised, the company will be entitled to receive $8.9 million, provided that certain conditions in connection with vacating the leased property are met. If the option is exercised, the company would have seven months thereafter to vacate the premises. If the company failed to perform all the conditions of the option agreement, the company would forfeit its right to the $8.9 million payment. In the event the option is exercised, Designs, Inc. will be required to relocate its corporate headquarters. The company will then have to write off up to approximately $2 million in current unamortized leasehold improvements, and incur additional costs of approximately $1 million associated with the move to a new location. Furthermore, the company anticipates having to incur significantly higher rental expenses if the company were to re-locate. Third Quarter Results. The company reported net income for the fiscal quarter ended October 28, 2000 (the "third quarter of fiscal 2001") of $2.9 million, or $0.18 per diluted share, compared with net income of $2.7 million, or $0.17 per diluted share, for the same period in the prior year. For the nine months ended October 28, 2000, the company reported net income of $3.5 million, or $0.21 per diluted share, compared with net income of $1.3 million, or $0.08 per diluted share, for the comparable period in the prior year. Sales for the third quarter of fiscal 2001 were $56.6 million, compared with $56.7 million for the same period in the prior year. For the nine month year-to-date period , sales were $141.7 million, compared with $139.4 million in the prior year. Comparable store sales decreased 2.8 percent for third quarter of fiscal 2001. The increase in total sales through the nine months ended October 28, 2000 is the result of sales generated from our new and remodeled stores offset by a 1.7 percent comparable store decrease year to date. Gross margin rate, after occupancy costs, for third quarter of fiscal 2001 was 30.7 percent of sales, compared with 32.5 percent for the same period in the prior year. For the nine months ended October ...

Lease Option. Sublandlord grants to Subtenant an option to lease additional space in the Facility more commonly known as the System 9 area and adjacent offices, designated by double crosshatching on the attached Exhibit B (“Option Space”), subject to all required notices and consents set forth in the Master Lease. Subtenant may exercise its option for the Option Space at any time prior to ninety (90) days prior to the first anniversary of the date of this Sublease, with the lease for the Option Space commencing the earlier to occur of (i) use or occupancy of the Option Space by Subtenant; or (ii) ninety (90) days following written notice of exercise to Sublandlord. In addition, at any time prior to the first anniversary of the date of this Sublease Sublandlord shall give written notice (“Option Space Notice”) to Subtenant if Sublandlord intends to sublease the Option Space. Subtenant shall then have five (5) business days to exercise its option for the Option Space pursuant to written notice to Sublandlord. If Subtenant fails to exercise the foregoing option within the five-day period, the lease option shall immediately expire; but if Sublandlord then fails to enter into a sublease of the Option Space to another within 90 days following the date the Option Space Notice was given, Sublandlord must give Subtenant another Option Space Notice and opportunity to take the Option Space as described in this Section.. In the event Subtenant exercises its option for the Option Space, it will lease the Option Space upon the same terms and conditions provided under this Sublease, subject to appropriate adjustments for the additional leased space, including without limitation in the square footage, Basic Rent and Subtenant’s Pro Rata Share.

Lease Option. Provided that (i) this Agreement has not previously been terminated in accordance with its terms or applicable law, and (ii) Operator is not in default hereunder, beyond the expiration of any applicable grace, notice or cure periods as of either (x) the date of its purported exercise of its option to lease the Club Lot or (y) the last day of the Term, then Operator may elect to lease the Club Lot for a term (the "Lease Term") commencing on the day next following the end of the Term and ending on the tenth (10th) anniversary of such day, along with four (4) extension options of five (5) years each, upon the terms and conditions set forth in that certain Agreement of Lease annexed hereto as Exhibit C (the "Lease Agreement") by executing and delivering to Owner five (5) executed copies of the Lease Agreement together with the security deposit required under the Lease Agreement and first and last month's rent. Such election shall be made by Operator, if at all, in writing at least one hundred eighty (180) days prior to the expiration of the Term but no earlier than one year prior to the end of the Term, as to which dates, TIME SHALL BE OF THE ESSENCE. The provisions of this Section 1.3 are expressly subject to the provisions of Section 1.5.