Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the originally named Tenant herein (“Original Tenant”), or an “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, one (1) option to extend the Term for a period of five (5) years (the “Option Term”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, 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 after the expiration of any applicable notice and cure periods. 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, as it applies to the 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 Original Tenant or an Affiliate of Original Tenant (and not any other assignee, sublessee or other transferee of Tenant’s interest in this Lease) if Original Tenant or an Affiliate of Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally named Tenant herein in this Lease (“the "Original Tenant”), or an “Affiliate") and its "Permitted Transferee,” " as that term is defined set forth in Section 14.714.8 of this Lease, below, of the Original Tenant, one two (12) option options to extend the Lease Term for the entire Premises, each by a period of five (5) years (the “each, an "Option Term”"), which . Such option shall be exercisable only by written notice Notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such noticeNotice, Tenant is not in default Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of (beyond any applicable notice and cure periods). Upon the proper exercise of such option to extend, and provided that, as of the end of the initial then applicable Lease Termterm, Tenant is not in default Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of (beyond any applicable notice and cure periods), the Lease 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 an Affiliate of Original Tenant its Permitted Transferee (and not any other assignee, sublessee sublesee or other transferee of the Original Tenant’s 's interest in this Lease) if Original Tenant or an Affiliate and/or its Permitted Transferee is in occupancy of Original Tenant occupies no less than forty-five thousand (45,000) Rentable Square Feet of the entire PremisesBuilding.

Option Right. Landlord hereby grants the originally Tenant named Tenant herein in this Lease (the “Original Tenant”), ) or an any assignee permitted pursuant to the terms of Section 14.8 of this Lease (a “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, Permitted Assignee”) one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, 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 after the expiration of any applicable notice and cure periodsperiod. 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 and Tenant has not previously been in default under this Lease after the expiration of any applicable notice and cure periodsperiod, the Lease Term, as it applies to the 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 an Affiliate of Original Tenant a Permitted Assignee, as the case may be (and not any other assignee, or any sublessee or other transferee of Tenant’s interest in this Lease) if the Original Tenant or an Affiliate of Original Tenant a Permitted Assignee, as the case may be, occupies the entire Premises.

Option Right. Landlord hereby grants the originally Tenant named Tenant herein in this Lease (“the "Original Tenant”"), or an “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, one (1) option to extend the Lease Term for a period of five three (53) years (the “"Option Term”"), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in default under this Lease 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 the 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 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 the expiration of any applicable notice and cure periods, the Lease Term, as it applies to the 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 Original Tenant or an Affiliate of the Original Tenant (and not any other assignee, sublessee or other transferee of Tenant’s 's interest in this Lease) if Original Tenant or an Affiliate of the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the originally named Tenant herein (“Original Tenant”), or an “Affiliate,” as that term is defined in Section 14.7, below, its Affiliates and any permitted assignee of the Original Tenant's interest in this Lease pursuant to Article 14 of this Lease (a "Permitted Assignee"), one two (12) option options to extend the Lease Term for the entire Premises each by a period of five (5) years (the “each, an "Option Term”"), which option . Such options shall be exercisable only by written notice Notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such noticeNotice, Tenant is not in default Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of (beyond any applicable notice and cure periods). Upon the proper exercise of such an option to extend, and provided that, as of the end of the initial then applicable Lease Termterm, Tenant is not in default Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of (beyond any applicable notice and cure periods), the Lease 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 an its Affiliate of Original Tenant (and not any other assignee, sublessee or other transferee of the Original Tenant’s 's interest in this Lease) if Original Tenant or an and/or its Affiliate is in possession of Original Tenant occupies the entire then-existing Premises.

Option Right. Landlord hereby grants the originally named Original Tenant herein and its Permitted Transferee Assignee, two (“Original Tenant”), or an “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, one (12) option options to extend the Lease Term for the entire Premises, each by a period of five (5) years (the each, an “Option Term”), which . Such option shall be exercisable only by written notice 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 noticeNotice, Tenant is not then in monetary or material non-monetary default under this Lease and Tenant has not previously been in default under this Lease after the expiration of beyond any applicable notice and cure periodsperiod. 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 TermTerm (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 be personal to Original Tenant and may only be exercised by the Original Tenant or an Affiliate of Original Tenant 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 or an Affiliate and/or its Permitted Transferee Assignee is in occupancy of Original at least sixty-seven percent (67%) of the rentable square footage of the initial Premises leased by Tenant occupies under this Lease (subject to the entire Premiseslast sentence of Section 14.4 below).

Option Right. Landlord hereby grants the originally named Tenant herein (“Original Tenant”), or an “any assignee of Tenant permitted under Article 14 of this Lease, and any "Affiliate,” " (as that term is defined in Section 14.714.8 below) (collectively, below, of the Original Tenant"RIGHT HOLDERS"), one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”"OPTION TERM" ), which option shall be exercisable only by written notice delivered by Tenant to Landlord as 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 after the expiration of beyond any applicable notice and cure periodsperiods 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 Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of beyond any applicable notice and cure periodsperiods set forth herein, the Lease Term, as it applies to the 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 the Right Holders, and may only be exercised by Original Tenant or an Affiliate of Original Tenant such Right Holders (and not any other assignee, sublessee or other transferee of Tenant’s 's interest in this Lease) if Original Tenant or an Affiliate such entities collectively occupy the not less than fifty percent (50%) of Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the originally named Tenant herein (“Original Tenant”), or an any assignee of Tenant permitted under Article 14 of this Lease, and any “Affiliate,” (as that term is defined in Section 14.714.8 below) (collectively, belowthe “Right Holders”), of the Original Tenant, one two (12) option options to extend the Lease Term for a period of five (5) years each (each an “Option Term” and collectively, the “Option TermTerms”), which option options shall be exercisable only by written notice delivered by Tenant to Landlord as 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 after the expiration of beyond any applicable notice and cure periodsperiods set forth herein. Upon the proper exercise of each such option to extend, and provided that, as of the end of the initial Lease Term or the first Option Term, as the case may be, Tenant is not in default Default under this Lease and Tenant has not previously been in default under this Lease after the expiration of beyond any applicable notice and cure periodsperiods set forth herein, the Lease Term, as it applies to the 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 the Right Holders, and may only be exercised by Original Tenant or an Affiliate of Original Tenant such Right Holders (and not any other assignee, sublessee or other transferee of Tenant’s interest in this Lease) if Original Tenant or an Affiliate such entities occupy at least one (1) full floor of Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the originally Tenant named Tenant herein in this Lease (“the "Original Tenant”"), or an “Affiliate,” as that term is defined in Section 14.7, below, of the Original Tenant, one (1) option to extend ("Extension Option") the Lease Term for a period of five (5) years (the “"Option Term”"), which option shall be exercisable only by written notice delivered by Tenant to Landlord as provided below, provided that, as of the date of delivery of such notice, Tenant is not in default under this Lease Lease, beyond any applicable notice and cure periods, and Tenant has not previously been in default under this Lease after the expiration of 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 Lease, beyond any applicable notice and cure periods, and Tenant has not previously been in default under this Lease after the expiration of Lease, beyond any applicable notice and cure periods, more than once, the Lease Term, as it applies to the 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 Original Tenant or an Affiliate of the Original Tenant (and not any other assignee, sublessee or other transferee of Tenant’s 's interest in this Lease) if Original Tenant or an Affiliate of the Original Tenant occupies the entire Premises.