Common use of Option Right Clause in Contracts

Option Right. Landlord hereby grants the Original Tenant, and any Permitted Assignee, one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”). Such option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 under this Lease, the Lease Term 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 any Permitted Assignee (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, of Tenant’s interest in this Lease).

Option Right. Landlord hereby grants the Tenant named in this Lease (the “Original Tenant, and any Permitted Assignee”), one (1) option to extend the Lease Term for a period of five ten (510) years (the “Option Term”). Such , which option to extend shall may be exercisable irrevocably exercised only by Tenant by written notice (the “Option Exercise Notice”) delivered by Tenant to Landlord not more earlier than fifteen (15) months nor less and not later than twelve (12) months prior to the expiration of the initial Lease Term, stating that provided that, as of the date of delivery of such notice, Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Termnot in Default under this Lease and Tenant has not previously been in default under this Lease more than once. Upon the proper exercise of the such 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 Term, as it applies to the Premises, shall be extended for a period of five ten (510) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant and any or a Permitted Transferee Assignee (and not by any other assignee, sublessee or other “Transferee,” as that term is defined in Section 14.1, below14.1 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 Original Tenant, and any Permitted Assignee, Tenant one (1) option to extend (“Extension Option”) the Lease Term for a period of five (5) years (the “Option Term”). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of the option to extend, and provided that, at Landlord’s option, as of the date of delivery of such notice, Tenant is not in monetary default under this Lease and Tenant has not previously been in monetary default under this Lease more than twice during Lease. Upon the preceding twelve (12) month periodproper exercise of such Extension Option, and provided that, at Landlord’s option, as of the end of the initial Lease Term, Tenant is not in monetary default under this Lease and Tenant has not previously been in monetary default under this Lease, the Lease Term 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 any Permitted Assignee may only be exercised by the Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of Tenant’s interest in this Lease)) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant, and any Permitted Assignee"), one (1) option to extend the Lease Term for a period of five ten (510) years (the “"Option Term”"). Such , which option to extend shall may be exercisable irrevocably exercised only by Tenant by written notice (the "Option Exercise Notice") delivered by Tenant to Landlord not more earlier than fifteen (15) months nor less and not later than twelve (12) months prior to the expiration of the initial Lease Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 Default under this Lease and Tenant has not previously been in default under this Lease more than twice during once. Upon the preceding twelve (12) month periodproper 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 Lease, the Lease Term Term, as it applies to the Premises, shall be extended for a period of five ten (510) years. The rights contained in this Section 2.2 shall be personal to the Original Tenant and any or a Permitted Transferee Assignee (and not by any other assignee, sublessee or “other "Transferee,” " as that term is defined in Section 14.1, below14.1 of this Lease, of Tenant’s '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 “Original Tenant, and any Permitted Assignee, ”) one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 Tenant has not previously been in default under this Lease more than twice during the preceding once in any twelve (12) month period. 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 LeaseLease and Tenant has not previously been in default under this Lease more than once, the Lease Term 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 any Permitted Assignee may only be exercised by the Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of Tenant’s interest in this Lease)) if the Original Tenant physically occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant, and any Permitted Assignee"), one (1) option to extend the Lease Term for a period of five (5) years (the “"Option Term”"). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 Tenant has not previously been in default under this Lease more than twice during once. Upon the preceding twelve (12) month periodproper exercise of such option to extend the initial Lease Term, and provided that, at Landlord's option, as of the end of the initial Lease Term, Tenant is not in default under this LeaseLease and Tenant has not previously been in default under this Lease more than once, the Lease Term 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 any Permitted Assignee may only be exercised by the Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of Tenant’s 's interest in this Lease)) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Original Tenant, and any Permitted Assignee, Tenant one (1) option to extend the Lease Term for a period of five (5) years (the “Option Term”). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of the option to extend, and provided that, at Landlord’s option, as of the date of delivery of such notice, Tenant is not in monetary default under this Lease and Tenant has not previously been in monetary default under this Lease more than twice during once. Upon the preceding twelve proper exercise of such option to extend (12) month periodand provided that, and as of the end of the initial Lease Term, Tenant is not in monetary default under this LeaseLease and Tenant has not previously been in monetary default under this Lease more than once), the Lease Term Term, as it applies to the Premises, shall be extended for a period of five (5) 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 and any Permitted Assignee or such Affiliate (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of the Original Tenant’s interest in this Lease)) if the Original Tenant or such Affiliate occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant originally ------------ named in this Lease (the "Original Tenant, and any Permitted Assignee, ") one (1) option to extend the Lease Term for a period of five (5) years (the “"Option Term”"). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 Tenant has not previously been in default under this Lease more than twice during once. Upon the preceding twelve (12) month periodproper 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 LeaseLease and Tenant has not previously been in default under this Lease more than once, the Lease Term Term, it applies 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 any Permitted Assignee may only be exercised by the --- Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of the Original Tenant’s 's interest in this Lease)) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in this Lease (the "Original Tenant, and any Permitted Assignee, one ") two (12) option consecutive options to extend the Lease Term for a period of five (5) years each (the “each, an "Option Term”" and collectively, the "Option Terms"). Such option to extend , which options shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve six (126) months prior to the expiration of the initial Lease Term or Option Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of the option to extendas applicable, and provided that, at Landlord’s option, as of the date of delivery of such notice, an Event of Default by Tenant is not in default existence under this Lease and has not previously been in default under this Lease more than twice during Lease. Upon the preceding twelve (12) month periodproper exercise of each option to extend, and provided that, as of the end of the initial Lease Term or Option Term, as applicable, an Event of Default by Tenant is not in default existence under this Lease, the Lease Term 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 not be personal to the Original Tenant and may be exercised by any Permitted Assignee assignee permitted under this Lease or by any sublessee approved by Landlord under this Lease which sublessee is specifically granted such right in the sublease; provided, however, (a) Tenant shall remain liable during any such Option Term(s), and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, of Tenant’s interest (b) the rights contained in this Section 2.2 are not assignable separate and apart from this Lease).

Option Right. Landlord hereby grants the Original Tenant, and any Permitted Assignee, one Tenant two (12) option options to extend the Lease Term for a period of five (5) years each (the “Option Term”each, an "OPTION TERM"). Such option to extend , which options shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve (12) months prior to the expiration of the initial Lease Termas provided below, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 Tenant has not previously been properly declared in default under this Lease more than twice during once. Upon the preceding twelve (12) month periodproper exercise of any such option to extend, and provided that, as of the end of the initial Lease Term or initial Option Term, as the case may be, Tenant is not in default under this LeaseLease and Tenant has not previously been properly declared in default under this Lease more than once, the Lease Term 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 any Permitted Assignee may only be exercised by the Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of Tenant’s 's interest in this Lease)) if the Original Tenant occupies the entire Premises.

Option Right. Landlord hereby grants the Tenant named in the preamble to this Lease (the "Original Tenant, and any Permitted Assignee, ") one (1) option to extend the Lease Term for a period of five (5) years (the “"Option Term”"). Such , which option to extend shall be exercisable only by written notice delivered by Tenant to Landlord not more than fifteen (15) months nor less than twelve nine (129) months prior to the expiration of the initial Lease Term, stating that Tenant is thereby irrevocably exercising its option to lease the Premises during the Option Term. Upon the proper exercise of 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 cure period and Tenant has not previously been in material default under this Lease more than twice during once. Upon the preceding twelve (12) month periodproper exercise of the option to extend, and provided that, as of the end of the initial Lease Term, Tenant is not in 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 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 except for any assignee permitted under Section 14.7 and any Permitted Assignee may only be exercised by the Original Tenant (and not any other assignee, sublessee or “Transferee,” as that term is defined in Section 14.1, below, other transferee of the Original Tenant’s 's interest in this Lease)Lease except for any assignee permitted under Section 14.7) if the Original Tenant occupies at least 60% of the Premises.