Common use of Option is Personal Clause in Contracts

Option is Personal. The rights contained in this Paragraph 55 shall be personal to the Tenant and shall not be transferable to any assignee, sub-lessee or other transferee (other than a Tenant Affiliate) of Tenant’s interest in this Lease and may only be exercised by the Tenant or a Tenant Affiliate if the Tenant or a Tenant Affiliate occupies at least two (2) full floors of the Building at the Expiration Date and at the commencement of the Extension Term.

Appears in 2 contracts

Sources: Lease Agreement (Cloudflare, Inc.), Lease Agreement (Cloudflare, Inc.)